Syndicate Bank Education Loan 2025: Eligibility, & Interest Rates

Going for higher education requires a significant financial commitment, but education loans make it accessible to students in India and abroad. Syndicate Bank education loan plays an effective role in coping with financial setbacks and provides support to acquire quality education.

Syndicate Bank education loan schemes are now available under the Canara Bank portfolio. This guide provides detailed information about Syndicate Bank education loan, including eligibility, interest rates, application process, etc., to help students make the right decision.

What Is Syndicate Bank Education Loan?

Syndicate Bank is considered to be one of the oldest and leading commercial banks in India. This bank offers highly effective education loans at affordable interest rates to students who wish to study abroad for quality education. The main objective of the Syndicate Bank education loan is to provide financial aid to Indian students who are willing to pursue higher education either in India or abroad.

Here is information about Syndicate Bank education loan, which will make you aware of various aspects of this loan, including the step-by-step application process.

Name of the Bank	Syndicate Bank
Merged with	Canara Bank
Type of Bank	Nationalised Bank
Type of Loan	Education
Types of Education Loans	Synd Vidya Educational Loan Synd Vidya Abroad Educational Loan  Synd Super Vidya Synd Vidya Vocational Courses Synd Vidya Skill Loan
Maximum Amount	INR 2 crores
Loan Disbursement	15 days
Repayment	Upto 15 years + Moratorium Period
Margin	In the case of Loans up to INR 4 lakh, No Margin is required. In case of Loans above INR 4 lakh – 5% for study in India and 15% for study abroad
Official Website	https://canarabank.bank.in/

Also Read: Types of Education Loan for Indian Students

Essential Features of Syndicate Bank Education Loan

Syndicate Bank Education Loan through Canara Bank offers flexible finance options with attractive features. The following are the key features of education loans offered by Syndicate Bank:

• Syndicate Bank offers a loan amount of up to INR 10 lakh for students pursuing higher education in Indian colleges and up to INR 20 lakh for universities abroad. 
• No margin money is required for loans up to INR 4 lakh, whereas a 5% margin is required for loans above INR 4 lakh for studies in Indian colleges and a 15% margin for loans above INR 4 lakh for studies abroad.
• No security is required for loans up to INR 4 lakh, while suitable collateral is required with a third-party guarantee for loans between INR 4 lakh to INR 7 lakh.
• The bank does not charge any processing fee for availing any of the Syndicate Bank Education Loans.

Expenses Covered Under Syndicate Bank Student Loan

Syndicate Bank student loan covers a wide range of education-related expenses, allowing students to focus on their studies without any financial stress. Below is a list of the major expenses covered under the loan:

• Tuition Fee
• Library or Laboratory Fee
• Hostel Fee
• Examination Fee
• Travel Expenses
• Cost of Books, Equipment, Instruments, or Uniforms
• Computer or Laptop Costs (if needed)
• Other Miscellaneous Expenses include study tours, project work, thesis, etc.

Types of Syndicate Bank Education Loan

Inspired by the legacy of Syndicate Bank, Canara Bank continues to offer education loan schemes to meet diverse educational needs. Here are the types of Syndicate Bank education loans for students:

• Synd Vidya Education Loan for students who are enrolling at universities and colleges both in India and abroad.
• Synd Vidya Abroad Education Loan is limited to studying abroad.
• Synd Super Vidya is for professional and technical courses in India or abroad.
• Synd Vidya Vocational Courses is for students who wish to pursue vocational training and skill development courses.
• Synd Vidya Skill Loan is for candidates who want to take up short-term skill development courses.

Interest Rate for Syndicate Bank Education Loan

Syndicate Bank education loan interest rates vary depending on the loan scheme and amount, which comes under the Canara Bank. These rates are linked to the one-year marginal cost of funds-based lending rate (MCLR), which is around 8.5% as of 2025. Below is a summary of Syndicate Bank education loan interest rates:

Loan Scheme	Loan Amount	Interest Rate
Synd Vidya Education Loan	Up to INR 4 lakh	1-year MCLR + 1.60% (~10.10%)
	INR 4 lakh – INR 7.5 lakh	1-year MCLR + 1.85% (~10.35%)
	Above INR 7.5 lakh	1-year MCLR + 2.85% (~11.35%)
Synd Vidya Abroad Education Loan	INR 20 lakh – INR 2 crore	1-year MCLR + 2.10% (~10.60%)
Synd Super Vidya	INR 3 lakh – INR 20 lakh	1-year MCLR + 0.10% (~8.60%)
Synd Vidya Vocational Courses	Up to INR 2 lakh	Base Rate + 2.25% (~10.75%)
Synd Vidya Skill Loan	INR 5,000 – INR 1.5 lakh	1-year MCLR + 1.50% (~10.00%)

Note: Interest rates are subject to change. Check Canara Bank’s official website for the latest rates.

Special ConcessionsEligibility

• Female Students: 0.50% interest rate concession.
• Premier Institutions: Lower rates for students admitted to top-tier institutes (e.g., IITs, IIMs).
• SC/ST Students: Relaxed eligibility and margin requirements.

Advantages of Syndicate Bank Education Loan

Choosing a Syndicate Bank Education Loan (via Canara Bank) offers several advantages. Here are the advantages of taking an education loan from Syndicate Bank:

• Competitive Interest Rates
• No pre-closure charges
• Flexible Repayment
• Less paperwork
• Faster Disbursal
• No prepayment charges
• No processing fees
• Tax Benefits

Eligibility of Syndicate Bank Education Loans

The eligibility criteria for Syndicate Bank education loan slightly differ across different schemes. The key eligibility criteria for different schemes are as follows:

Synd Vidya Loan Scheme

The candidate applying for the Synd Vidya Education Loan should be an Indian citizen or an NRI having an Indian passport who has secured admission to a recognized institution in India or abroad through an entrance test or merit-based selection.

Moreover, the candidate should have passed 10+2 or equivalent from an accredited board of education with 50% marks.

Synd Super Vidya

The Synd Super Vidya scheme is aimed at exceptionally meritorious students who have been accepted by a reputed institute to extend educational loans with special provisions. The courses accepted under this scheme are technical courses and postgraduate courses offered at premier institutes.

Synd Vidya Vocational Courses

The candidate applying for this loan scheme must be a citizen of India who has passed the 10th exam and has secured admission to a government-recognized vocational training course program that is employment-oriented.

It is for candidates interested in pursuing certificate or diploma courses at the state or central universities in India.

Synd Vidya Skill Loan

For Synd Vidya Skill loan, the candidate must be an Indian citizen enrolled in courses offered by ITI or polytechnics or in a school recognized by the Indian government. Check out loans by the Government:

• Education Loan by Delhi Government
• Education Loan Scheme by Narendra Modi
• Education Loan for Abroad Studies by Indian Government

Synd Vidya Abroad Loan Scheme

Syndicate Bank offers education loans to study abroad for students who wish to apply to foreign universities. The candidate applying for Synd Vidya Abroad Education Loan must be a citizen of India or an NRI with an Indian passport who has secured admission for studies abroad through an entrance examination or merit-based selection.

Also, the candidate is required to have cleared 10+2 or equivalent from a recognized board of education with 50% marks.

Must Read: Expenses Covered Under Education Loan

Courses Covered Under the Syndicate Bank Student Loan

There is a range of courses covered under the Syndicate Bank education loan with Synd Vidya Loan Scheme for Post Graduation or Doctorate or PG Diploma programs, and Synd Vidya Abroad Loan Scheme for Graduation or Post Graduation programs. 

Various job-oriented professional or technical courses offered by reputed universities include the following:

• Post-graduation: MCA, MBA, MS, etc.
• Courses conducted by the CPA in the USA, CIMA-London, etc.
• Degree/Diploma courses like Pilot Training, Aeronautical, Shipping, etc., provided these are accredited by the Director-General of Civil Aviation or Shipping in India.

How to Apply for Syndicate Bank’s Education Loan?

Students or working professionals interested in acquiring an education loan from Syndicate Bank can either apply online or offline. The offline process for a loan application is quite simple. You can directly visit the nearest Syndicate Bank branch and ask for an education loan application form. Further, the bank representative will guide you with all the necessary information and documents regarding eligibility.

If you wish to apply online, you can follow the online application process for the Syndicate Bank Education Loan. Here is a step-by-step process for the online application:

• Visit the official website of Syndicate Bank and select the loan scheme, and then click on ‘apply now’.
• Fill in your details carefully and then upload the required documents.
• Submit the application form and take a printout of the application.
• You may also visit the bank branch for further formalities.

Syndicate Bank Education Loan Documents

To be eligible for a Syndicate Bank education loan, the applicant needs to submit some required documents. The following documents are required while applying for the loan:

• Two recent passport-size photographs of the applicant, co-applicant, and guarantor.
• Admission Letter including fee structure, mark sheets, and related documents.
• Copies of ID proof and residence proof, including Aadhar, PAN, etc.
• Marksheet of the recently qualified public exam (including school and college in India).
• Filled ‘Form 16’ along with recent salary slips.
• Schedule of course expenses.
• Details like the transfer certificate and fee receipts.

Syndicate Bank Education Loan Affidavit Format

When applying for an education loan from Syndicate Bank, submitting an affidavit in a proper format is an important step in the documentation process. This affidavit serves as a legal declaration to verify specific details about the borrower or co-borrower, thereby ensuring transparency and compliance with the bank’s requirements.

Below is the affidavit format that meets Syndicate Bank’s standards for education loan applications.

Also Read: Bank of India Abroad Education Loan

EMI Payment Methods with Syndicate Bank Loan

The repayment period for the Syndicate Bank education loan can be extended up to 15 years, including the loan moratorium period (course period + 1 year). During the moratorium period, no repayment is required, but interest accrues. After the moratorium, the EMI is calculated based on the loan amount and interest rate.

Here are the ways you can make EMI Payments: 

• Standing Instruction: This type of EMI is the best for you if you have an existing account at the company. The EMI account will be automatically debited from your account every month. 
• Electronic Clearing Service: This type of EMI is good for those who do not have a Syndicate Bank and would like their EMI to be debited automatically at the end of every monthly cycle. 
• Post-Dated Cheque: You can submit post-dated cheques from a non-Syndicate bank account at your nearest Syndicate Bank loan centre. 

How to Check Education Loan Status in Syndicate Bank?

To check the status of an education loan in Syndicate Bank, applicants have to contact the bank directly and ask for the status or create an account on the Syndicate Web Portal.

The Syndicate Bank Education Loan, now managed by Canara Bank, provides a reliable and affordable way to pursue higher education in India and abroad. With competitive interest rates, no processing fees, and flexible repayment options, it is a great option for students. Apply through the Vidya Lakshmi portal or visit any Canara Bank branch today to begin your journey towards academic success.

FAQs

Related Reads

What is an Education Loan in India: Meaning, Benefits	Education Loan Process: Steps, Eligibility Criteria
Documents Required for Education Loan in SBI	List of Banks Giving Education Loan Without Collateral
Vidyalakshmi Education Loan	Education Loan Interest Rate

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