Bank Of India Education Loan Interest - 2017-2018 StudyChaCha

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Old April 11th, 2013, 04:19 PM
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Default Bank Of India Education Loan Interest

I want to know about the loan interest at Bank of India for Education Loan
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Old April 12th, 2013, 04:33 PM
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Default Re: Bank Of India Education Loan Interest

Bank of India is founded on 7th September, 1906 by a group of eminent businessmen from Mumbai.

Here I am describing the details of education loan from Bank of India.
Eligibility:
Student Eligibility:

Student should be Indian
Outstanding loan from any other banks should not be taken
Student should secured admission for professional and technical course in India or Abroad by entrance test or Merit base selection process.

Eligible course:
Studied in India:

Graduation/ Post Graduation courses
Courses conducted by IIM, IIT, IISc, XLRI, NIFT, NID and other Institutes set up by Central/State Govt.
Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc.
Other courses leading to diploma/degree, etc. conducted by colleges/universities approved by UGC/Govt./AICTE/AIBMS/ ICMR, etc.

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

Margins:
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.

For your kind help I am attaching here the basic information about Education Loan.

Address and Contact:
Bank of India
STAR HOUSE
C - 5, "G" Block,
Bandra Kurla Complex,
Bandra (East),
Mumbai 400 051.
Ph: 022-66684444
Email: HeadOffice.CSD@bankofindia.co.in
Attached Files
File Type: pdf Education Loan Information.pdf (33.8 KB, 31 views)
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