Educational loan for Students - Provided by Bank of INDIA

[Kalyan]

Educational loan for Students - Provided by Bank of  INDIA

Bank of INDIA

Purpose:

Pursuit of studies In India and abroad

Approved Courses:

Graduate and post-graduate courses in engineering, computertechnology, medicine etc.All vocational courses/job oriented diploma courses, recognised by govt and universities.Similar courses pursued in universities abroad. Full time post graduate research in any of the aforesaid subjects.

Eligibility:

Should be a citzen of India. For vocational Training courses and job oriented course age of the individual should be between 15-28 years,and 18-30 in case of post graduate courses and/or studies abroad.The applicant should have a good academic record. For studies abroad, the candidate should have secured admission in a particular university after having appeared in the specific entrance examinations. The applicant should have secured a minimum of 50% marks in the major subject.In case of SC/STcandidates eligibility norms may be relaxed.

Amount of Loan:

The loan could vary depending on the specific subject requirement.For studies abroad Rs15 lakhs.For Studies in India Rs 7.5lakhs

Margin:

Upto Rs 4lakhs -nil
For Studies in India- 5%
For studies abroad-15%

Repayment:

Within 15 years from the first dateof disbursement, including moratorium period