Bank Of India Education Loan Interest Rate

Tell me about Bank Of India Education Loan Interest Rate

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: Bank of India provide education loan for students.

Eligibility Criteria :
Branch nearest to the permanent residence of student will consider the loan.

Good academic career.

Should be an Indian

Father/Mother should be co-borrower.

The student should not have outstanding education loan from any other Institution.

Secured admission to professional/technical courses in India or Abroad through Entrance Test/Merit based selection process.

COURSE :
Studies in India (Indicative list) :
Graduation/ Post Graduation courses
Professional courses :
Engineering,
Medical,
Agriculture,
Veterinary,
Law,
Dental,
Management,
Computer, etc

Courses conducted by IIM, IIT, IISc, XLRI, NIFT, NID and other Institutes set up by Central/State Govt.

Other diploma/degree courses conducted by colleges/universities approved by UGC/Govt./AICTE/AIBMS/ ICMR, etc.

Studies abroad :
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.


QUANTUM OF FINANCE :
Studies in India – Maximum Rs.10.00 lakh
Studies abroad – Maximum Rs.20.00 lakh.

MARGIN :Upto Rs.4 lakh : Nil
Above Rs.4 lakh – Studies in India : 5%
Studies Abroad : 15%• Scholarship could be included in margin.• Margin to be brought in on year to year basis as and when disbursements are made.