Laxmi Vilas Bank

Why For/Purpose /Objective:

 Laxmi vilas bank education loans aims to meet expenses connected with the pursuit of specific courses of study atrecognized institutions, including professional/job-oriented courses, which offer reasonable opportunity for employment & loan repayment capacity on successful completion.

Eligibility

• Should be an Indian National.
• Should have secured admission to professional/technical courses in India or abroad through entrance test/merit based selection process.

Studies in India

• Graduation courses: BA, B.Com. B.Sc., etc.
• Post Graduation courses: Masters & Ph.D.
• Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc.
• Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university.
• Courses like ICWA, CA, CFA, etc.
• Courses conducted by IIM, IIT, IISC, XLRI, NIFT, etc.
• Regular Degree/Diploma courses like aeronautical, pilot training, shipping, etc., approved by Director General of Civil Aviation/Shipping, if the course is pursued in India.  In case the course is pursued abroad, the Institute should be recognized by the competent local aviation/ shipping authority.
• Courses offered in India by reputed foreign universities.
• Evening courses of approved institutes.
• Other courses leading to diploma/degree etc. conducted by colleges/universities approved by UGC/Govt./AICTE/AIBM/ICMR, etc.
• Courses offered by National Institutes and other reputed private institutions.
• Teacher Training Course/Nursing Course/B. Ed., provided the training institutions concerned are approved either by the Central Govt. or by State Govt. and such courses should lead to Degree or Diploma Course and not to Certification Course.  The fees to be considered for the purpose should be the fees structure as stipulated in Central/State Government Colleges.
• In respect of courses which are not covered under the criteria mentioned above, Bank will take a view on the eligibility taking into account the future prospects/ recognition by user institutions.
• Bank will also have the system of appraising other institutional courses depending on future prospects/recognition by user institutions.

Studies abroad

• Graduation: For job oriented professional/technical courses offered by reputed universities.
• Post graduation: MCA, MBA, MS, etc.
• Courses conducted by CIMA-London, CPA in USA, etc.
• Expenses eligible for finance
• Fee payable to college/school/hostel.
• Examination/library/laboratory fee.
• Purchase of books/equipment/ instruments /uniforms.
• Caution deposit/building fund/ refundable deposit supported by Institution’s bills/receipts, subject to the condition that the amount does not exceed 10% of the total tuition fees for the entire course.
• Travel expenses/passage money for studies abroad.
• Purchase of computers essential for completion of the course.
• Insurance premium for student borrower.
• Any other expenses including hostel deposit/rent/monthly mess bills and other expenses required for completing the course such as study tours, project work, thesis, etc.   

Loan Amount

Need based finance subject to repaying capacity of the parents/student with margin and the following ceilings:

• For studies in India: Maximum up to Rs.10.00 lacs.
• For studies abroad: Maximum up to Rs.20.00 lacs.

Within the above maximum levels, the loan amount is to be fixed taking into account the minimum stipulated margin, the expenses eligible for finance, actual requirement of the student, anticipated repayment capacity of the student on completion of the course, capacity of the parents, etc.  In the normal course, while appraising the loan, the future income prospects of the student will be looked into.  However, where required, the means of parent/ guardian could also be taken into account to evaluate repayment capability.

Marigin

For loans up to Rs.4.00 lacs: Nil

For loans above Rs.4.00 lacs:

Studies in India: Minimum of 5%.

Contact

Delhi Tel: 011- 23730530,
Bangalore Tel: 080- 22872065,
Chennai Tel: 040- 24404336,
Hyderabad Tel: 040- 27150491,
Kolkata Tel: 033- 22480287,
Mumbai Tel: 022- 28908783.

Website

http://www.lvbank.com/