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A STUDY ON EDUCATION LOAN OF SYNDICATE BANK

Submitted by-

Sayan BarmanPritam DasArindam SarkarAbhijeetAjo Jacob Alexender

ESTABLISHED IN 1925 IN UDUPI, IN COASTAL KARNATAKA WITH A CAPITAL OF RS 8000.

3 VISIONARIES-SRI UPENDRA NANTH PAI,SRI VAMAN KUDWA AND DR TMA PAI.

THEIR OBJECTIVE WAS TO PROVIDE FINANCIAL ASSISTANCE TO LOCAL WEAVERS WHO WERE CRIPPLED BY THE CRISI IN THE HANDLOOM INDUSTRY.

IT STARTED BY COLLECTING 2 ANNAS DAILY AT THE DOORSTEPS OF THE DEPOSITORS UNDER THE SCHEME OF PIGMY DEPOSIT IN 1928 AND THIS BECAME THE BRAND EQUITY OF THIS BANK.

BRIEF HISTORY

THE PROGRESS OF THE BANK HAS BEEN WITH THE PHASE OF PROGRESSIVE BANKING IN INDIA AND STANDING IN THIS 21ST CENTURY THE BANK IS WELL EQUIPPED TO MEET THE CHALLENGES IN THE AREA OF IT ,KNOWLEDGE AND COMPETITION.

SPANNING OVER 80 YEARS OF PIONEERING EXPERTISE IT HAS CREATED FOR HIMSELF A SOLID CUSTOMER BASE COMPRSING OF 2-3 GENERATIONS.

TO ACHIEVE CONSISTENT GROWTH IN THE BUSINESS.

TO ENDEAVOUR FOR INCLUSIVE DEVELOPMENT AND ENSURE SERVICE EXCELLENCE THROUGH EFFECTIVE HARNESSING OF HUMAN CAPITAL AND TECHNOLOGY.TO BE BANK OF A CHOICE OF EVERY INDIAN AND A PREFERRED BANKING PARTNER GLOBALLYMISSIONVISION

Global Business registered a staggering figure of Rs. 283558 crore in 2011-12, rising from Rs. 243946 crore in 2010-11 registering a growth of 16.24%. Global Deposits grew by 16.48% to Rs. 157941 crore and Global Advances grew by 15.94% to Rs. 125617 crore.

Domestic Business of the Bank increased from Rs. 224331 crore in 2010-11 to Rs. 258660 crore in 2011-12 registering a growth of 15.30%.

CASA Deposit (domestic) stood at Rs. 46424 crore as at 31.03.2012 constituting 31.43 % of Total Domestic Deposits.

Operating Profit of the Bank jumped by 21.71% from Rs. 2749.78 crore in 2010-11 to Rs. 3346.80 crore in 2011-12.

BANKS FINANCIAL PERFORMANCE 2011- 2012

Net Profit, zoomed by 25.33% from Rs. 1047.95 crore in 2010-11 to Rs. 1313.39 crore in 2011-12.

Priority Sector Advances grew by 12.19% to Rs. 41383 crore during 2011-12 and constituted 45.21% of the ANBC (Adjusted Net Bank Credit) against the mandatory requirement of 40%.

Agriculture Credit increased from Rs. 14798 crore in 2010-11 to Rs. 17409 crore in 2011-12 registering a growth of 17.64%.

Total Income grew by 32.17% to Rs. 16344.23 crore, whereas non-interest income grew by 17.57% to Rs. 1075.88 crore in 2011-12.

Interest Income of the Bank registered a healthy growth of 33.34% from Rs. 11450.86 crore in 2010-11 to Rs. 15268.35 crore in 2011-12.PERFORMANCE CONTINUED

The Net NPA increased from Rs. 1030.84 crore in 2010-11 to Rs. 1185.43 crore in 2011-12 constituting 0.96% of the Net Advances.

Net Interest Margin (NIM) improved from 3.40% in 2010-11 to 3.43% in 2011-12.

Yield on Advances of the Bank soared to 10.98% as on 31.3.2012 from 9.52% as on 31.3.2011.

Provision Coverage Ratio improved from 77.18% as at 31.03.2011 to 80.06% as at 31.03.2012.

Book Value per Share improved from Rs. 122.99 in 2010-11 to Rs. 150.13 in 2011-12.

The Capital to Risk-Weighted Assets Ratio (CRAR) stood at 12.24% as at 31.03.2012, compared to 13.04% as at 31.03.2011. During the year the Bank received a capital infusion to the tune of Rs. 327 crore from LIC of India.

Our Bank offers a number of varied products under Deposits, Advances to suit the needs of all types of customers. Details of products are available in each category under this head. We offer other services for our customers like Cash Management Services, RTGS,NEFT for electronic fund transfer and speed clearing.

We also have various delivery channels like ATM,Internet Banking, SMS Bankingoffering specialised products and services at ourbranches which have been 100% brought underCentralised Banking Solution.

PROUCT AND SERVICE

PIGMY DEPOSIT SCHEME

PIONEER IN RURAL DEVELOPMENT

SOCIAL LENDING

PRIORITY FOR WOMEN

TECHNOLOGY INITIATIVES

IMPLEMENTATION OF PMS 15 POINT PROGRAMME FOR WELFARE OF WOMENDIFFERENT MILESTONE ACHIEVED IN LAST 85 YEARS

SYNDVIDYAA Syndicate Bank's Education Loan Scheme Syndicate Bank's involvement in education dates back to the decades prior to the Nationalization of Banks.

The Bank has introduced a comprehensive Education Loan Scheme-SyndVidya,which is more student responsive and parent friendly.

Providing financial support to deserving / meritorious students for pursuing higher education in India and abroad.

The Scheme covers the entire spectrum of educational needs from the school education to super specialty courses including overseas courses.

The loan scheme carries liberal limits of Rs.10.00 lac for courses within the country and Rs.20.00 lac for overseas courses.

Capitation fees, donation or external coaching fee are not covered.

QUANTUM OF LOAN

COURSE ELIGIBILITY CRITERIA

Approved courses leading to graduate/ post graduate degree and PG diploma conducted by recognized colleges/ universities recognized by UGC/ Govt./ AICTE/ DOE etc. Courses like ICWA, CA, CFA etc. Approved courses offered in India by reputed foreign universities. Other courses leading to diploma/ degree etc. conducted by colleges/ universities approved by UGC/ Govt./ AICTE etc Courses offered by National Institutes and other reputed private institutions.Teacher training course/Nursing course/B.Ed are eligible for education loan, provided the training institutions are approved either by the Central Government or by the State Government and such courses should lead to Degree or Diploma course and not to certification course.

Studies in INDIA:

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. Degree/diploma courses like aeronautical, pilot training, shipping etc provided, these are recognized by competent regulatory bodies in India/abroad for the purpose of employment in India/abroad.

Studies abroad:

STUDENT ELIGIBILITY

Any student who is a major representing himself or a minor student represented by parent or guardian of Indian nationality.

Must have secured admission on the basis of merit to professional/ technical/other courses through entrance test/selection process.

Must have secured admission to Foreign universities/Institution (for studies abroad).

The student should be an Indian National/NRI

Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent).

EMINeed to pay the principle along with interest after the completion of the course -1 year or 6th month which ever is earlier.

The bank is insisting the guardian to pay interest monthly because :

Guardian gets 100% tax rebate on interest paid on monthly basis.It decreases the extra pressure of loan payment of the customer.

If the income of the guarantor or guardian is less than or equal to Rs 4.5 lakhs annually then the customer gets interest subsidy.

PLR- Prime Lending Rate

INTEREST RATE

COLLATERAL SECURITYNSC/KVP/Mortgage/Any type of security/LIC/FD- Above Rs. 7.5 lakhs

No collateral- Upto Rs. 4.00 lakhs

MARGINSUpto 4 lacs Nil

Above 4 lacs For studies in India 5% For studies in abroad 15%

CONCESSION RATE

Girl students and students belonging to SC/ST category are eligible for concession of 0.50% per annum on the above rates.

The girl students under SC/ST category are eligible for a further concession of 0.25% on the above rates (Total concession 0.75%)

Simple interest would be charged during the repayment holiday /moratorium period.

REPAYMENTRepayment holiday / moratorium: Course period + 1 year or 6 months after getting job, whichever is earlier.

For loans up to `7.50 lakhs upto 10 years

For loans above `7.50lakhs upto 15 years

GUARANTORSAbove 4 lacs- Parent plus one more guarantors outside the family. LOAN PROCESSINGTwo Three days for loan sanctioning. Can be arranged in the same day

BRANCH VISITED AND LOAN INFORMATION OF THE BANKEducation loan from the bank 5 person

Education loan from overall Syndicate Bank of Bhubaneswar 120 150 approximatelyFor the financial year 2012 - 2013

BANCASSURANCE SCHEME OF SYNDICATE BANKThe Bank arranges insurance scheme for Parents and Student under the loan scheme.

Nominal Fee

Tied up with United India Insurance Company.

Covers under death of any one

Period- Course Period + 1 Year + Repayment period

CUSTOMER SATISFACTION SURVEY ON EDUCATION LOAN

COMPARISION BETWEEN DIFFERENT BANKSON EDUCATION LOAN

COMPARISION BETWEEN DIFFERENT BANKSON EDUCATION LOAN

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