Bank of India Education Loan

 
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Bank of India Education Loan
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About Bank of India Education Loan
Here you will find Bank of India Education Loan Interest Rates, its Eligibility and Repayment Process.

BOI Star Education Loan

OBJECTIVE & PURPOSE :

    The Star Educational Loan Scheme 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.

ELIGIBILITY CRITERIA :

STUDENT'S ELIGIBILITY:

            Should be an Indian National;
            Secured admission to professional/technical courses in India or Abroad through Entrance Test/Merit based selection process.
            Good academic career.
            The student should not have outstanding education loan from any other Institution.
            Father/Mother should be co-borrower.
            Branch nearest to the permanent residence of student will consider the loan.

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

            Note : Professional courses not approved by AICTE and conducted by Institutes not recognized by State Universities is outside the purview of the eligibility under the scheme.

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.

 EXPENSES CONSIDERED FOR LOAN :

        Fee payable to college/school/hostel*
        Examination/Library/Laboratory fee.
        Purchase of books/equipment’s/instruments/uniforms.
        Caution deposit/building fund/refundable deposit supported by Institution bills/receipts.
        Travel expenses/passage money for studies abroad.
        Purchase of computers - essential for completion of the course.
        Insurance cover for the student.

    Any other expense required to complete the course - like study tours, project work, thesis, etc.

    * As per brochure/ demand letter from the institution.

QUANTUM OF FINANCE :

    Need based finance subject to repaying capacity of the parents/students with margin and the following ceilings :

        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.



Click Here for more details.

 
 
Comment/ Reviews on Bank of India Education Loan
CAN I GET EDUCATION LOAN OF RS.400000 FOR MBA IN BANGALORE
Posted By : P SIBA REDDY, on 09-06-2012 13:27:09 
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i want to apply for education loan for my further studies in new zeland
Posted By : Queen Elizabeth, on 21-04-2012 00:42:36 
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Helllo Sir/Madam.My Name is Mohammed Mohsin.I have finished with B.Com in the year of 2011.I am planning to do Higher Studies,as Higher education is the must,Today.I am planning to do MBA.The total fees for MBA is Rs.3 laks,for 2 years.As,I belong to a less financial stable family,I am unable to do MBA,by my family's sponsorship,being a huge amount too.Can,I get to know the procedure for applying loan,and is there any security required for it??How much minimum amount of loan,will the Bank provide???
Posted By : Mohammed Mohsin, on 14-04-2012 00:34:25 
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MBA (logistics & supply chain)
Posted By : UMESH SINGH BISHT, on 28-02-2012 10:49:44 
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i am studing in engg.s.e.(E&tc) i want education loan from bank plz send me all information..about dacument.
Posted By : vishal jeve, on 23-01-2012 19:22:10 
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Residing in Saligramam Chennai.Having studied Graduation in Engineering interested in pursuing Higher studies M S in USA . and applying for various universities. seeks educational loan for study in abroad for Rs 20 lacs against suitable colleteral security. Request your sanction
Posted By : Anantha narayanan, on 31-07-2011 18:02:25 
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I want to do MBA in design management from inter national institute of fashion designing pune which is dec approved by annamalai university and ugc recognized college sir can i get a education loan from your bank please reply as soon as possible.
Posted By : sabita verma , on 13-07-2011 21:45:44 
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presently looking at a loan amount of Rs 9.00 lacs
Posted By : harish anurag, on 22-06-2011 12:25:59 
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Kindly let me know which are the institutes eligible for education loan. Is INIFD(Annamalai University) there in your list.
Posted By : Sumit Pareek, on 06-06-2011 13:37:37 
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Kindly let me know which are the institutes eligible for education loan. Is INIFD(Annamalai University) there in your list.
Posted By : Sumit Pareek, on 06-06-2011 13:37:23 
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i need to get 5 lakhs of loan for abroad studies. i AM PLANNING FOR ABROAD TO STUDY FOR DIPLOMA COURSES. I WANT TO KNOW ABOUT ALL THE CRITERIA/CONDITIONS FOR DIPLOMAS STUDY LOAN FOR ABROAD.the course is DIPLOMA IN HOTEL&TOURISM MANAGEMENT i got the admission by merit and i need to join on 6th of april 2011.so replay me as soon as possible
Posted By : kavitha, on 25-03-2011 15:51:57 
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I want to do Mba From Holborn College off London n Our Family Have a Curent Account On Ur Branch To. But I Wana to sure That for doing MBA from Holborn Collage can i get a education loan From your institution please sir inform me as soon as possible.
Posted By : Soumick Panja, on 10-03-2011 12:00:34 
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I want loan from ur response sir
Posted By : Basavaraj S Giddenavar, on 02-03-2011 03:46:56 
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