ING Vysya Bank Ltd is a premier private sector bank with retail, private and wholesale banking platforms that serve over two million customers. With 80 years of history in India and leveraging ING’s global financial expertise, the bank offers a broad range of innovative and established products and services, across its 527 branches. The bank, which has close to 10,000 employees, is also listed in Bombay Stock Exchange Limited and National Stock Exchange of India Limited. ING Vysya Bank was ranked among top 5 Most Trusted Brands among private sector banks in India in the Economic Times Brand Equity – Neilsen survey 2011.

The bank was formed from the 2002 acquisition of an equity stake in Indian Vysya Bank by the Dutch ING Group. This merger marked the first between an Indian bank and a foreign bank. Prior to this transaction, Vysya Bank had a seven-year old strategic alliance with erstwhile Belgian bank Banque Bruxelles Lambert, which was also acquired by ING Group in 1998.

 Education Loan

Educational Loan provides financial support to deserving/meritorious students to pursue higher education in India and abroadEligibility: Student should be an Indian National and should have secured admission to professional / technical curses in India and abroad through Entrance Test/Merit based selection process
Studies in India: (Indicative list)* Graduation courses: BA, B.Com, B.Sc., etc.
* Post Graduation courses: Masters and PhD.
* 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.
* 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/ AIBMS/ ICMR etc.
* Courses offered by National Institutes and other reputed private institutions depending upon future prospects /recognition .
Expenses Considered:
* Fee payable to college/ school/ hostel.
* Examination/ Library/ Laboratory fee.
* Purchase of books/ equipments/ instruments/ uniforms.
* Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipts.
* Travel expenses/ passage money for studies abroad.
* Purchase of computers – essential for completion of the course.
* Any other expense required to complete the course – like study tours, project work, thesis, etc.Note: A certificate from the college/institute to the schedule of expenses for the course year wise to be submitted.
Loan Amount:
Studies in India – Maximum Rs.7.50 lakhs
Studies abroad – Maximum Rs.15.00 lakhs
Rate of Interest:
Up to Rs 4 lacs: IVRR
Above Rs 4 lacs: IVRR +1% p.a


Up to 1% interest concession is provided for loanees if the interest is serviced during the study period
Studies in India: Upto Rs 4 lacs – Nil
Above Rs 4 lacs – 5%
Studies Abroad: 15%
Up to Rs 4 lacs: No security
Above Rs 4 lacs and up to Rs 7.5 lacs: Collateral in the form of a ‘third party guarantee’ having net worth of 100% of the loan amount.
Above Rs 7.5 lacs: Collateral security equivalent 100% of the loan amount and assignment of future income of the student for the payment of installment.
The collateral security can be in the form of Land/Building/Govt Securities/Public Sector Bonds/Units of UTI, NSC, KVP/LIC Policy and Shares/Debentures, Bank Deposits in the name of the student/parent/guardian or any other third party. Land/ Building wherever already mortgaged, the unencumbered portion can be taken as security on II charge basis provided it covers the required loan amount (loan not to exceed 75% of unencumbered value). In case the loan is given for purchase of a computer the same to be hypothecated to the Bank.
Repayment Holiday / Moratorium: Course period + 1 year or 6 months after getting a job whichever is earlier. Interest has to be serviced during the course period. The loan to be repaid in 5-7 years after commencement of repayment.
Processing Fee:
Processing Fee: Nil
Foreclosure Charges: NilTo apply for the loan – Contact your nearest branch

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