Bank of India

Bank of India Education Loan is offered for studying various types of programs.

• You can apply for an educational loan from Bank of India if you want to desire a graduate, postgraduate and doctoral program.
• A student can also receive this loan if he desires to study a professional program including Law, Engineering and Medical programs.
• Even students eager to study computer certificate courses of recognized institutes or particular programs like ICWA, CFA and CA can apply for the loan.
• Candidate, planning to pursue programs from institutes recognized by government, UGC, AICTE, a national body or a recognized overseas university in Indian, is also considered qualified for the loan.
• For pursuing PG programs such as MBA or MS, employment-oriented programs from familiar universities or courses by CPA in the US and CIMA-London in overseas, you can also apply for the educational loan.

Applicant should be a citzen of India. For job oriented course and vocational training courses age of the individual should be between18-30 years, and 15-28 in case of post graduate courses and/or studies abroad. The candidate must have a brilliant academic record. For studies abroad, the candidate should have secured admission in a particular university after having appeared in the particular entrance examinations. The applicant should have hold a minimum of 50% marks in the major subject. In case of SC/STcandidates eligibility norms may be comfortable. Bank of India student loan interest rate is not too much high. For education in abroad, you can apply for a highest loan of Rs 20 lacs and Rs 10 lacs for studying in India. Bank of India student loan interest rate upto Rs.15 lakh : @0.75% below BPLR, presently applicable Rate 12.50% p.a. Simple interest for the period of the repayment holiday/moratorium. Penal interest is @2% for loans above Rs.4 lakh for the past due amount and overdue period. Concession of Interest is 0.50%p.a. for woman. 1% int. Concession if rate of interest is serviced for the duration of moratorium period, where repayment holiday is specified for interest/repayment under the scheme (concession available for moratorium period).