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| COMPARE : EDUCATION LOANS |
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| Bank of India Education Loan |
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| Introduction |
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| Bank of India Star Education loan scheme has been designed to provide financial support to the deserving / meritorious students for higher studies in India and abroad. Student should be an Indian National and have secured admission to professional /technical courses in India or abroad to get the loan. |
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| Highlights |
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Study Abroad |
Study India |
| Course |
Post Graduation |
Graduation |
| Loan Type |
Term Loan |
Term Loan |
| Loan Purpose |
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. |
The Educational Loan Scheme outlined below aims at providing financial support from the bank to deserving/ meritorious students for pursuing higher education in India and abroad.
The main emphasis is that every meritorious student is provided with an opportunity to pursue education with the financial support on affordable terms and conditions.
No deserving student is denied an opportunity to pursue higher education for want of financial support |
| Loan Amount |
Min. - Rs 50000
Max. - Rs 1500000
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Min. - Rs 50000
Max. - Rs 1500000
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| Margin Money |
15 %
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5 %
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| Tenure |
Min. - 1 Yrs.
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Min. - 1 Yrs.
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| Interest Rate |
Int. Concession of 0.50%p.a. for woman beneficiaries
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Int. Concession of 0.50%p.a. for woman beneficiaries
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| Time to Process Loan |
7 days |
7 days |
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 Fees & charges
Fees & charges
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Study Abroad |
Study India |
| Pre-Payment Charges |
1 % |
1 % |
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Eligibility Criteria
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Eligibility Criteria
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Study Abroad
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Study Abroad:
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| Age |
Min.: 16 Yrs. Max.: 55 Yrs. |
| Documents Required: |
| ID Proof |
Yes |
| Age Proof |
Yes |
| Residence Proof |
Yes |
| Income Proof |
Yes |
| Telephone |
Yes |
| Photograph |
Yes |
| Bank Statement |
Yes |
| Signature Proof |
Yes |
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Study India
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Study India:
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| Age |
Min.: 16 Yrs. Max.: 55 Yrs. |
| Documents Required: |
| ID Proof |
Yes |
| Age Proof |
Yes |
| Residence Proof |
Yes |
| Income Proof |
Yes |
| Telephone |
Yes |
| Photograph |
Yes |
| Bank Statement |
Yes |
| Signature Proof |
Yes |
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Security
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Security |
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Upto Rs. 4 lakh : No security Above Rs.4 lakh & upto Rs.7.5 lakh : Collateral security in the form of a suitable third party guarantee.
Above Rs.7.5 lakh : Collateral security of suitable value or suitable third party guarantee alongwith the assignment of future income of the student for payment of instalments. |
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Show All Education Loans
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