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Education Loans
Home >> Education Loans >> Bank of India
Bank of India
Bank of India has Star Educational Loan on offer for the students willing to pursue higher education. Meritorious students are offered Bank of India Education Loan so that they can study a graduate, computer certificate, diploma, postgraduate, specialized or professional course in India or abroad.

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
(a) Student 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.
(b) Eligible Course
(i) Studies in India (Indicative list)
Graduation courses : BA, B.Com., B.Sc., etc.
Post Graduation courses : Masters & Phd.
Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc
Computer certificate courses of reputed institutes accredited to Department of Electronics or institutes affiliated to university.
Courses like ICWA, CA, CFA, etc.
Courses conducted by IIM, IIT, IISc, XLRI, NIFT, NID and other Institutes set up by Central/State Govt.
Evening courses of approved institutes
Other courses leading to diploma/degree, etc. conducted by colleges/universities approved by UGC/Govt./AICTE/AIBMS/ ICMR, etc.
Courses offered by National Institutes and other reputed private institutions with prior approval of Head Office.
Courses offered in India by reputed foreign universities with prior approval of Head Office.
Note :  1. Professional courses not approved by AICTE and conducted by Institutes not recognised by State                  Universities is outside the purview of the eligibility under the scheme.          
            2.  Special scheme for students admitted to IITs, at concessional rate of interest.

(ii) 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, et
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. 4.00 Lakhs
 
5% for inland studies
15% for studies abroad
For more information on Star Educational Loans of Bank of India, you can click on http://www.bankofindia.com/eduloans1.aspx
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