Catholic Syrian Bank Education Loan

✓ Up to 30 lacs of Loan

✓ At starting interest rate of 9% P.A.

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Table of content

  1. Catholic Syrian Bank Education Loan Schemes for Abroad studies
  2. Catholic Syrian Bank Education Loan Schemes to Study in India
  3. Government Subsidy schemes
  4. Catholic Syrian Bank Processing Fee:
  5. Documents Required for Catholic Syrian Bank Education Loan
  6. Catholic Syrian Bank Education loan Insurance
  7. Catholic Syrian Bank Loan Margin Calculation
  8. How to apply for an education loan from Catholic Syrian Bank?
  9. Why and How to transfer your education loan to Catholic Syrian Bank?
  10. Catholic Syrian bank Education loan EMI Calculation as per Interest Rate
  11. Catholic Syrian Bank Education Loan Repayment process
  12. FAQ's
  13. Need Help? Ask Here!

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The Catholic Syrian bank believes in promoting education and that financial constraints shouldn’t affect students’ pursuit of education. That is the reason they have provided structured education loan schemes for students to study in India and abroad.

  • CSB Vidhya 
  • CSB Study Abroad
  • CSB Excellence

Catholic Syrian Bank Education Loan Schemes for Abroad studies

They provide a maximum of 30 lacs loan to students who wish to study abroad through its CSB study abroad education loan scheme.

CSB Study Abroad

Parameter

Details

Loan Limit

Up to 30 lacs

Can ask for a higher amount provided the profile of the applicant and co-applicant is good

Expenses covered

Study costs

Fees for tuition
Fee for examination
Lab/library fee
Books expenses
Laptop for computer purchase

Living expenses

Hostel fee/accommodation cost
Food

Other

Loan Insurance
Expenses for travel
Other miscellaneous expenses

Accepted co-applicant

Parents, parents-in-law, sibling, spouse

Catholic Syrian Bank Education loan interest rate

Non collateral- 12% to 14% 
Collateral- 9% to 11%

Moratorium Period

Course Duration plus 1-year

Repayment Duration

10 years excluding the moratorium period

Repayment policies

Interest payment in the moratorium(optional)

Eligibility Criteria

Should be an Indian resident
Should have secured admission to a foreign university

Value of Collateral (only if it is a collateralized education loan)

The collateral security value needs to be equal to 125% of the loan amount

Accepted Collateral

House, Flat, land, and FD

Tip: Eligible Courses include graduation, post-graduation, professional and vocational courses, and certifications are eligible for an education loan. Check other eligibility requirements for an education loan 

Countries Eligible for an Education Loan from Catholic Syrian Bank

Manage your expenses for education in the above listed countries by taking an education loan through us!

Catholic Syrian Bank Education Loan Schemes to Study in India

The Catholic Syrian bank provides two different schemes for students to study in India, one of which is to take admission into top institutes in the country.

  • CSB Vidhya
  • CSB Excellence

Catholic Syrian Bank Vidhya

The CSB Vidhya education loan is started to provide a maximum of ₹10 lacs loan to students wishing to study in India.

Parameter

Details

Loan Limit

Up to 10 lacs

Can try for more than 10 lacs provided the profile of applicant and co-applicant is good

Expenses covered

Study costs

Examination fee
Tuition fees
Lab/library fees
Books expenses
Purchase of laptop or computer(if needed)

Living expenses

Food
Hostel fee
Accommodation costs

Other

Loan Insurance
Travel expenses
Miscellaneous expenses

Accepted co-applicant

Parents, parents in law, sibling, spouse

Catholic Syrian Bank Education loan interest rate

Depends on the profile of the student, but generally,

Non collateral- 12% to 14% 
Collateral- 9% to 11%

Moratorium Period

Course Duration plus 1-year

Repayment Duration

15 years of loan tenure excluding the moratorium period

Repayment policies

Interest payment not mandatory in the moratorium period

Eligibility Criteria

Should be an Indian resident
Should have secured admission in a recognized college or university

  Value of Collateral Security

Collateral Security value equal to 125% of the loan amount

Accepted Collateral

House, Flat, land, and FD

Tip: If you have already paid the fee to your institution and want to include it in the loan account, request that your financial officer at WeMakeScholars talk to the lender about it.

CSB Excellence

The Catholic Syrian bank excellence education loan scheme is provided to help students pursue education in top-rated institutes.

Parameter

Details

Loan Limit

Up to 20 lacs

Try for a higher amount with a strong co-applicant

Expenses covered

Study costs

Tuition fees
Examination fee
Fees for lab/library
Expenses for buying books
Purchase of laptop or computer(if needed)

Living expenses

Hostel fee/accommodation costs
Food

Other

Insurance
Travel expenses
Other miscellaneous expenses

Accepted co-applicant

Parents, Parents in law, Siblings, Spouse

Interest rate

Depends on the profile of the student, but generally,

Non collateral- 12% to 14% 
Collateral- 9% to 11%

Moratorium Period

Course Duration plus 1-year

Repayment Duration

Up to 15 years of repayment duration excluding the moratorium period

Repayment policies

Paying interest in the moratorium period is optional

Eligibility Criteria

Should be a resident of India
Should have secured admission through an entrance exam or through merit in a top rated institute

Value of Collateral security

Collateral security value needs to be equal to 125% of the loan amount

Accepted Collateral

House, land, flat, and FD

Tip: Try for admission into a top-rated institute and pay the fee by borrowing the amount from your friends or relatives if there is a delay in the loan sanction. Once the fee has been paid, you can request your financial officer at WeMakeScholars to talk to the lender and add the paid fee amount to the loan account.

Government Subsidy schemes

 The government has introduced the following schemes to provide interest subsidies in higher study education loans.

Dr. Ambedkar Central sector scheme

The scheme provides interest subsidies for students studying abroad.

Eligible group

Annual Family income

EBC(Economically backward classes)

Less than 5 lacs per annum

OBC

Family income less than 8 lacs per annum

 

Padho Pardesh Scheme

The scheme provides interest subsidies for overseas educational studies for students from minorities(Muslims, Christians, Sikhs, Buddhists, Jains, and Zoroastrians) having income less than 6 lacs per annum.

Note: The Padho Pardesh scheme has been currently stopped. However, the previous beneficiaries(before 31st march 2022) will keep on receiving the interest subsidy for the moratorium period.

Central Scheme for Interest Subsidy for Economically Weaker Sections

The Scheme provides interest subsidies to students of Economically weaker sections of society whose family income is less than 4.5 lacs per annum. The subsidy is provided for the moratorium period and for students who are studying in India.

Catholic Syrian Bank Processing Fee:

There are no processing fee charges for study in India loans. However, the bank may charge 1% to 2% of the loan amount as a processing fee for a study abroad education loan.

Talk to your financial officer at WeMakeScholars to have clarity on the processing fee charged by CSB on your education loan.

Documents Required for Catholic Syrian Bank Education Loan

Here’s a section-wise list of documents required for an education loan with the Catholic Syrian Bank education loan.

Section 1: Application form

Fill out the Catholic bank education loan application form which will be sent to you by your financial officer at WeMakeScholars with 2 photographs and

your signature.

Section 2: Applicant and Co-applicant documents

1. Proof of Identity

  • PAN Card
  • Provide a passport if going abroad
  • Aadhar card 

2. Residence proof(Provide two different address proofs if your current address and permanent address are different)

  • Aadhaar card
  • Voter ID Card
  • Telephone Bill
  • Electricity Bill
  • Ration card
  • Bank account statement

3. For co-applicant

Salaried co-applicant - Bank account statement for the last 6 months.  

Self-employed co-applicant - business transactions of 1 year.

4. Personal Asset & Liability Statement- Self-attest all the documents

Section 3: Applicant's academic documents

  • Marksheets or certificates- 10th,12th, degree.
  • Admit proof for the course (should reflect the total duration of the course)
  • Fee structure (i-20 for US if available)
  • IELTS/GRE/GMAT Scorecard
  • Provide the rank of the university

Section 4: Financial co-applicant income documents

If Salaried

  • Latest Salary slips (of last 3 months)
  • Form 16 of last 2 yrs.
  • Employers ID card
  • ITR of last 2 yrs

If Self-employed  

  • ITR of last 3 yrs
  • Last 3 yrs Balance sheet and Profit & Loss account (for self-employed businessman)
  • Business address proof

Section 5: Other Documents

  • The financial officer will provide a letter where you will need to accept that the leftover expenses apart from the loan amount coverage will be taken care of by your co-applicant.
  • Notarised joint affidavit with the student and co-applicant in the Bank’s standard format (Format will be provided by WeMakeScholars Financial officer)

Section 6: Additional docs (if applicable)

  • Advance payment receipt if made to the university
  • Any pending loan statements of up to 1 year.
  • If you have had any gap in your studies explain it on Rs. 100 stamp paper. (WeMakeScholars financial officer shall provide the format)

Section 7: Collateral documents (Optional)

The document list of collateral loans differs with each state; these are only required if you go for a collateral loan. Ask your WeMakeScholars Financial Officer to provide an accurate list of required documents according to your state.

Get the complete list of documents for an education loan from Catholic Syrian bank!

Catholic Syrian Bank Education loan Insurance

A loan insurance acts as a protection for the education loan that you take. In cases where the applicant is unable to pay due to circumstances like a disability or death, the insurance company is liable to pay on your behalf. The CSB takes 1 to 2% of the loan amount as loan insurance. 

You do not need to worry about paying for the loan insurance as it is usually adjusted within your loan account. For clarity regarding the charges for loan insurance, talk to your financial officer at WeMakeScholars.

Catholic Syrian Bank Loan Margin Calculation

There is no loan margin for loans up to 4 lacs. Check out the below table for loan margins in loans above 4 lacs.

Type of Loan

Loan margin Percentage

Study in India Loan

5%

Study Abroad Loan

15%

The loan margin is generally considered on each disbursement. For more details about the loan margin, request a callback from WeMakeScholars.

Learn how you can adjust the loan margin amount within your education loan!

How to apply for an education loan from Catholic Syrian Bank?

Apply for a hassle-free education loan from CSB through WeMakeScholars by following the below steps.

  • Request a callback from the WeMakeScholars team
  • Your financial officer from WeMakeScholars will get in touch with you and will check your eligibility for an education loan by asking you a few basic questions
  • He/she will connect you to different public or private lenders from where you can get the best education loan offers
  • The lenders will take the education loan process forward and will get you a loan sanction in the time that was promised by your financial officer at WeMakeScholars.

Why should not go directly through banks?

Going directly through a bank has certain disadvantages which are mentioned below.

  1. Inaccurate information about the education loan process
  2. Have to visit the bank multiple times to know the full list of required documents
  3. Hidden charges, which you will know about after the loan sanction
  4. The loan process will be longer 
  5. The chances for a loan sanction will be slimmer

Why go through WeMakeScholars?

WeMakeScholars is an organization that is supported by the Ministry of IT, govt of India under the Digital India campaign. We at WeMakeScholars provide free of cost consultation for education loans and also connect students to different public or private lenders. We are partnered with 14+ banks(public/Pvt). Below are some of the advantages of going through us.

  • Better interest rates: When you go through WeMakeScholars, your education loan interest rate automatically lowers to up to  2%, as we are partnered with the banks.
  • Faster processing time: Going through WeMakeScholars reduces your loan sanction time to 50% less than the bank’s processing time. We have a dedicated timeline of 21 working days for govt banks and 7 working days for private lenders after the submission of all the documents.
  • End-to-end support: We at WeMakeScholars assist you in the loan sanction, disbursement, and repayment, even at 12 hrs different timezones.
  • Tax benefits: There are certain sections for tax benefits in an education loan. Your financial officer will educate you about all those benefits.
  • Cashback offered: Going through us gets you a cashback of ₹3000.

Students looking for an education loan can connect to the team today!

Avoid all the hassles involved in an education loan process by taking the digital route!

Why and How to transfer your education loan to Catholic Syrian Bank?

Here’s a step-by-step process to transfer your education loan

  • Collect the information regarding the outstanding from your previous education loan
  • Request a callback from the WeMakeScholars team and tell your financial officer that you wish to transfer your education loan 
  • Your financial officer will provide you with a list of documents that you will need to submit to the CSB branch
  • Then they will clear off your dues from the previous education loan and will start the education loan with them

Catholic Syrian bank Education loan EMI Calculation as per Interest Rate

Learn to calculate your education loan EMIs by going through the below example.

Let us suppose that you have taken an education loan of 35 lacs at an interest rate of 11% per annum. Your course duration is of two years and the moratorium period is of 1 year. The time to repay the loan is 10 years. Let’s see how much you will have to pay yearly.

Timeline

EMI

Interest Portion

Principal Portion

Loan Outstanding

End of year 1

60874

38359

22515

4162101

End of year 2

60874

35754

25121

3875265

End of year 3

60874

32847

28028

3555237

End of year 4

60874

29603

31271

3198175

End of year 5

60874

25985

34890

2799794

End of year 6

60874

21947

38927

2355314

End of year 7

60874

17443

43432

1859398

End of year 8

60874

12417

48458

1306096

End of year 9

60874

6809

54065

688766

End of year 10

60874

553

60321

0

If having a tough time calculating EMIs, ask your financial officers at WeMakeScholars to do it for you.

Catholic Syrian Bank Education Loan Repayment process

The interest payment to the CSB during the moratorium is optional. If opt out of paying interest in the moratorium, the interest will be added in the following EMIs. Applicants can also choose to close off the loan before the tenure ends through the following ways.

  • Prepayment
  • Choosing a shorter duration to repay the amount
  • Loan transfer to another bank

Repayment of a loan can prove daunting if going directly through banks. WeMakeScholars offers you the ease of repayment by talking to the lenders and solving all the related issues.

Avoid all the post sanction issues by choosing WeMakeScholars!

Our Education Loan team will help you with any questions

Ajay Kumar
WeMakeScholars- supported by IT Ministry, Govt. of India.
Published: | Updated: