Sardar Vallabhbhai Sahakari Bank Limited – Education Loan

By Pradeep Yuvaraj | September 22, 2011

Sardar Vallabhbhai Sahakari Bank Limited is a Co-operative Bank that got the License No. DBOD-UBD-GJ-351P from Reserve Bank of India’s on 21/11/1983. The Bank then spread its network with 4 branches in Ahmadabad City and 1 branch at Unjha (Mehsana District). The Bank is providing Safe Deposit Vault (Locker) facility at its Law Garden and Isanpur Branch. All branches of the Bank are fully computerized since 1998 and now connected with Core Banking System since May 2009. The bank offers home loans, personal loans, car loans, gold loans, education loan, consumer loans etc.

Purpose: To offer Education Loan to help deserving students who are in need to meet expenditure for higher studies in India / Abroad towards tuition/ Hostel fees, book, equipments and travel expenditure etc.

Eligibility: Indian nationals are eligible; we provide Education loan to the students who have secured admission in reputed colleges/ universities and proof of admission to be verified

Quantum of Loan: We offer 85% of quotation value of consumer products; Maximum loan amount for Consumer Loan is Rs. 50,000/-.

Rate of Interest:

Particulars ROI
up to Rs. 5,00,000/- 11.50%
above Rs. 5,00,000/- and up to Rs. 10,00,000/- 12%

Repayment: The moratorium period of maximum 18 months and then repayment in up to 5 years EMI

Initial Requirements: Copy of Income Tax Returns for last 2 Years; Valid Address Proof of the person wants Education loan; Proof of Admission,I-20; Fees Structure of college / university; Course Details, Bank Statement for last six months.

Parents will be Guarantor for this loan and additional security will required for this type of loan, passport size photographs for all.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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