|
|
| COMPARE : EDUCATION LOANS |
|
|
|
|
| Bank of Maharashtra Education Loan |
|
|
| Introduction |
|
| Bank of Maharashtra offers education loan for studies in India and abroad. Student should be an Indian National and have secured admission to professional/ technical courses through entrance test / selection process. In case of abroad also student should have secured admission to foreign university / institutions before applying for loan. Loan covers all expenses right from tuition fees to purchase of books, equipments, etc. |
|
|
|
|
| Highlights |
|
| |
Study Abroad |
Study India |
| Course |
Graduation |
Graduation |
| Loan Type |
Term Loan |
Term Loan |
| Loan Purpose |
Tuition fees, hostel expenses, purchase of books / equipments / instruments, travel expense |
Tuition fees, hostel expenses, purchase of books / equipments / instruments |
| Loan Amount |
Min. - Rs 50000
Max. - Rs 2000000
|
Min. - Rs 50000
Max. - Rs 1000000
|
| Margin Money |
Up to Rs. 4.00 lac - Nil
Above Rs.4.00 lac - 15% for studies abroad
|
Up to Rs. 4.00 lac - Nil
Above Rs.4.00 lac - 5% for studies in India
|
| Interest Rate |
Loans up to Rs. 4.00 lac: 12.70%
Loans above Rs. 4.00 lac: 13.45%
|
Loans up to Rs. 4.00 lac: 12.70%
Loans above Rs. 4.00 lac: 13.45%
|
| Time to Process Loan |
|
7 days |
|
|
 Fees & charges
Fees & charges
|
|
|
|
|
|
Security
|
Security |
|
|
Up to Rs. 4.00 lac: Nil
Above Rs.4.00 lac to Rs.7.50 lac -
Satisfactory third party Guarantee
Above Rs. 7.50 lac
Value of collateral security after providing requisite margin as below should be equal to the quantum of finance plus 2 acceptable guarantor. |
|
|
|
Terms & Conditions
|
Terms & Conditions |
|
|
EMI – 60 Months (Loan plus int.accrued together)
Moratorium: Course Period + 1 year OR 6 months after getting job whichever is earlier |
|
|
|
|
|
|
Show All Education Loans
|
|
|
|
|
|
Twitter