Bank Of India Student Education Loan – Online Apply Education Loan (BOI)

Bank Of India Student Education Loan – Online Apply Education Loan (BOI)

Synopsis/ Objectives

Bank Of India (BOI) Student Education Loan always welcomes the students to help them in achieving their precious Goal. Bank Of India Student Education Loan defines that money cannot stop somebody to dream and Fly for that.

Bank Of India (BOI) Student Education Loan Offers a Great and Free deal for those who want to live their beautiful dream. Absolutely correct that’s a Study Loan, provided by BANK OF INDIA (BOI) Student Education Loan which is a government authorized bank.  Student Education Loan keeps their words and crystal clear about the terms & conditions. Forget about to walk 10 times in a bank for Study loan. Bank Of India  Student Education Loan India is always ready for you. Bank Of India  Education Loan has launched and adopted new Technologies to enhance the clarity and processing time for study Loans. Student Education Loan is providing study loan at very low rate of Interest, which is very easy to use and repay. Bank Of India Student Education Loan has full rights to say yes for the student loan to all students who are just willing to study, whether they belong to improving class, middle class or Rich family.
Student Education Loan makes you feel free from any burden (loan). Delighting Offers will delight you with delightful Career. Bank Of India Student Education Loan ensures that their consumer enjoys the loan facility and gaze on their goal only. Preferably, Study loans are common as we understand the value of the time and money.
Bank Of India Education loan aims to provide the financial help to those candidate who are deserving and want to pursue higher professional or technical education in India and abroad. Bank Of India education loan aim to be the very tool that will enable them to reach their goals in life. Now no more deserving Students have to give away their pursuit of dreams due to lack of money. Bank Of India loans will ensure that worthy students are empowered to take their destiny in to their own hands. Bank Of India endeavor is to help the future of our nation in education and prosperity

Eligibility

STUDENT’S ELIGIBILITY:
Should be an Indian National;
Student should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/Merit based selection process after completion of HSC (10 plus 2 or equivalent).
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) :
Approved Courses leading to graduate /post graduate degree and P.G. diplomas conducted by recognized colleges/ universities by UGC/Government/AICTE/AIBMS/ICMR
Courses like ICWA,CA,CFA,etc.
Courses conducted by IIM, IIT, IISc, XLRI, NIFT, NID and other Institutes set up by Central/State Govt.
Regular Degree /Diploma courses like Aeronautical, Pilot Training Shipping, degree/diploma in nursing or any other discipline approved by Director General of Civil Aviation/Shipping/Indian Nursing Council
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.

Quantum of Loan

Need based finance subject to earning potential of student upon completion of the course with and 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.

Security

Upto Rs. 4 lakh
:
Parents or Guardian to be joint borrowers
( To be covered under CGFSEL)
Above Rs.4 lakh &upto Rs.7.5 lakh
:
Parents or Guardian to be joint borrowers
( To be covered under CGFSEL)
Above Rs.7.5 lakh
:
Co-obligation of Parents together with tangible Collateral security of suitable value along with the assignment of future income of the student for payment of installments.

Note : The security can be in the form of land/building/Govt. Securities/Public Sector Bonds/NSC/KVP/LIP/ Banks Term Deposit etc., in the name of Student/ Parent/ Guardian/Guarantor with suitable margin.

Repayment

Repayment holiday/Moratorium: Course period + 1 year

Repayment Period: 15 years after commencement of repayment

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