Bank of Maharashtra Education Loan

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

Purpose    

For Studies in India and Abroad

Eligibility    

Studies in India: Graduation courses/Colleges under Universities approved by UGC. Other courses leading to diploma / degree etc. conducted by colleges / universities approved by UGC / Govt. / AICTE / AIBMS / ICMR etc.

Studies Abroad : Job oriented Prof./Technical / PG courses/ Post Graduation: - MCA, MBA, MS etc

Age - Student should be Indian national, have secured admission by Entrance test / Merit bases selection.

Maximum amount In India : Rs. 10.00 lac

Abroad : Rs. 20.00 lac

Security     Up to Rs. 4.00 lac - Clean

Guarantor    

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.

Computers purchased out of loan be hypothecated.

Margin Up to Rs. 4.00 lac - Nil

Above Rs.4.00 lac -

5% for studies in India
15% for studies abroad

Deduction Limit - N.A.

Rate of Interest    

Loans up to Rs. 4.00 lac = Base Rate + 2.50%
Loans above Rs. 4.00 lac & upto 7.50 lac = Base Rate + 2.00%
Loans above Rs.7.50 lac = Base Rate + 1.25%

Simple interest during moratorium period, there after compounded monthly
 
1% interest concession may be provided to the loanees if the interest is serviced regularly as and when applied during the study period when repayment holiday is specified for interest/ repayment under the scheme. Interest concession is available only for moratorium period.

Repayment  - EMI – 60 Months (Loan plus int.accrued together)
Moratorium: Course Period + 1 year OR 6 months after getting job whichever is earlier

Processing Fee - Nil

Click Here for more details.

 
 
Comment/ Reviews on Bank of Maharashtra Education Loan
sir pls tell me how can i get CA student loan? what is the procesure?
Posted By : praveen tripathi, on 02-09-2011 12:38:33 
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sir pls tell me how can i get CA student loan? what is the procesure?
Posted By : praveen tripathi, on 02-09-2011 12:38:24 
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regarding education loan
Posted By : john, on 27-08-2011 07:49:03 
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I wan't to get loan of Rs.2 lakh for coching classes for preparation of 'IIT' .Please refer me any sponsers .'VERY ARGENT'.
Posted By : Sahil Motlani, on 22-07-2011 21:09:51 
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i want loan for my post graduation for assesment year 2011. for nationalty proof can i submit my T.Y. B.Com's Transfer Certificate? if yes, then how can i apply for education laon and from which branch?
Posted By : Leena wadhwani, on 27-06-2011 12:43:13 
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Please kindly get back to me,as i need educational loan for my M.S
Posted By : nadella gurnath, on 14-06-2011 17:00:33 
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i have secured admission in uk, university of wales. i have all the doccuments required along with collateral security. i urgently require a loan, so plz contct me fast.
Posted By : RISHI MUKHERJEE, on 18-02-2011 08:45:43 
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