Syndicate Bank loans for Foreign Education

Syndicate Bank provides education loans to pursue various courses in abroad. Any student of Indian nationality is eligible for the loan. Applicant should be a major or represented by a guardian in case of minor. Syndicate Bank gives loan for all institutes overseas which are duly recognised by concerned authorities. The loan shall cover finance for tuition fee, boarding, books and travel as well. But the bank does not accept assistance towards capitation fees and any coaching. The maximum loan amount Syndicate Bank offers for overseas education is Rs. 20 lakh. Applicants have to make arrangements for a margin of 15 percent which means that they have to put in that much amount themselves. Syndicate Bank charges interest on study abroad loans based on Prime Lending Rates. For an amount of up to Rs. 7.5 lakh, the interest will be PLR minus 2 percent. For loans more than that amount, Syndicate Bank charges PLR minus 2.5 percent as interest. Bank's present PLR is 12 percent and subject to change based on the policies of the Bank.

Syndicate Bank asks for collateral security if the loan amount is above Rs. 7.5 lakh. This security also includes 25 percent margin covering the loan amount and assignment of future income of the candidate for payment of loan installments is needed. With regard to repayment method and period, Syndicate Bank follow the rules most similar to other banks. You have to repay the entire loan amount in 5 to 7 years. The repayment shall start one year after completion of the course or six months after securing a job, and as usual, which ever earlier will be considered.

Most important aspect of getting approval for study abroad loan is securing a confirmed admission from a recognised college. Students must approach the Banks with proof of seat confirmation and should have all the important documentation with you for a smooth approval process. Wish you all the success.

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One thought on “Syndicate Bank loans for Foreign Education


    I have taken higher education loan from syndicate bank in 2009 , My son has completed his MS in Dec 2010, I am paying regular interest, and also prepaying , now the loan is about 1 lac , i want to repay back fully, so i am asking you whether i have to pay extra money as i will re pay before time so bank will charge extra to repay earlier ? Pl reply me on and also at


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