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Educational Loans in India By Bank Of India

Bank of India

Vidya Vardhini Scheme

Purpose:

Pursuit of studies In India and abroad

Approved Courses:

Graduate and post-graduate courses in engineering, computertechnology, medicine etc.All vocational courses/job oriented diploma courses, recognised by govt and universities.Similar courses pursued in universities abroad. Full time post graduate research in any of the aforesaid subjects.

Eligibility:

Should be a citzen of India. For vocational training courses and job oriented course age of the individual should be between 15-28 years,and 18-30 in case of post graduate courses and/or studies abroad.The applicant should have a good academic record. For studies abroad, the candidate should have secured admission in a particular university after having appeared in the specific entrance examinations. The applicant should have secured a minimum of 50% marks in the major subject.In case of SC/STcandidates eligibility norms may be relaxed.

Amount of loan:

The loan could vary depending on the specific subject requirement.For studies abroad Rs15 lakhs.For studies in India Rs 7.5lakhs

Margin

Upto Rs 4lakhs -nil
For Studies in India- 5%
For studies abroad-15%

Repayment
Within 15 years from the first dateof disbursement, including moratorium period

Educational Loans by Other Banks
	Bank of India		Central Bank
	Dena Bank		Punjab National Bank
	State Bank of Hyderabad		State Bank of India
	Allahabad Bank		Bank of Baroda
	HDFC		UCO Bank
	IDBI Money Scholar		Vijaya Bank
	Indian Bank		Federal Bank Ltd.
	State Bank of Mysore		Citibank