Education loan from Indian Overseas Bank

Started by Kalyan, Jun 30, 2008, 10:27 AM

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Kalyan

Education loan from Indian Overseas Bank

Eligibility :-
You can apply if you are a student and satisfy the following eligibility criteria.

1)You should be an Indian National
2)You should have secured admission to professional/technical courses in India or abroad through entrance test/merit based selection process.

Courses :-

His/Her school education including plus 2 stage/Graduation/Post graduation/Diploma/Computer education in any recognized State/Central Government/University.

Professional courses including Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, courses like ICWA, CA, CFA, etc. and courses conducted by IIM, IISC, XLRI, NIFT etc.

Courses offered in India by reputed foreign universities/Evening courses of approved institutes.

Loan amount:-
You can get a maximum of Rs. 10.00 lakh for studying in India and Rs. 20.00 lakh for studying abroad.


How to repay the loan:-

Students can repay the loan in equal monthly Installments for a maximum period of 5 - 7 years excluding holiday period.
It is left to the option of the student either to service the interest during the study period or pay it along with the principal over a period of 5 - 7 years to commence from 12th month after completion of the study.

Option to service the interest.

For prompt servicing of interest for all quarters during the study period, an interest rebate of 0.5% is allowed.
The interest rebate thus calculated will be credited back to loan account at the time of commencement of repayment of the principal sum.

How can I apply?

Download the application form in MS - Word format.
Save it on your computer, print it out and send it to the nearest/convenient I.O.B. branch for processing

For more details, visit http://www.iob.in/vjothi.asp

K.Ganeshkumar

Hi i am studiying bcom final year and i will  join computer course HARD WARE from NIIT IN UK  you can give  the me loan.

kbrtechedu

There are many banks which provide loans to students in very genuine rate of interest and can be very helpful to get education in very good institute. Banks can give more facilities in loan than other financial companies.

dhoni

this is easy to get loan from bank there are more procedure in loan

political person get money from govt