About Indian Overseas Bank Education Loan
Here you will find Indian Overseas Bank Education Loan Interest Rates, its Eligibility and Repayment Process.
Should be an Indian National
Should have secured admission to professional/technical courses in India or abroad
Loan is made available for Graduation/Post graduation/Diploma/Computer education in any recognized State/Central Government/University, professional courses including Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, courses like ICWA, CA, CFA, etc., courses conducted by IIM, IISC, XLRI, NIFT etc, courses offered in India by reputed foreign universities/Evening courses of approved institutes, regular degree/ diploma courses like Aeronautical , Pilot training , shipping etc approved by Director General of Civil Aviation/ shipping if the course is pursued in India. Incase the course is pursued abroad, the institute should be recognized by the competent local aviation/ shipping authority. For studies abroad, loans will be made available only for Graduation and Post Graduation Courses offered by Reputed Universities and not for diplomas
Quantum of loan
Maximum of Rs. 30.00 lakhs for studying in India and Rs. 40.00 lakhs for studying abroad.
Rate of Interest
Please click Retail credit interest rates
- Interest to be debited monthly on simple basis during the repayment holiday/moratorium
For loans upto Rs. 4.00 lakh - Nil
For loans above Rs. 4.00 lakh
Studies within India 5%
For studies abroad 15%
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