Bank of Maharashtra Education Loan,form,interest rate 2012,documents,details,eligibility-Student Loans in India
Bank of Maharashtra Provides Education Loan, for eligible Indian students studies in India and Abroad. Bank of Maharashtra Education Loan Interest rates vary depends on the total Loan sanctioned and type of Course. Bank of Maharashtra Provides Education loan of 4 lakhs to 10 lakhs for Indian Education courses of Graduation and Post graduations. For Abroad studies the loan will be up to 20 lakhs. You can have the complete details on Bank of Maharashtra Education loan, Interest rates, Documents required while submitting the application form, Schemes, courses, re-payment and eligibility for Bank of Maharashtra Education loan for student to study in India & abroad
Bank of Maharashtra Education loan interest rates, terms and conditions
Bank of Maharashtra Education loan starts form 4 lakhs and the max loan scheme is 10 lakhs for Education in India. And up to 20 lakhs for study abroad. Students, who want to take loan amount of 4 lakhs , no need to give any security. Bank of Maharashtra Education loan re-payment period is 5-7 years.
For more than 4 lakhs and up to 7.5 lakhs of Education loan, student have to give third party guarantee to re payment of Education loan along with parent’s(Third party) Salary documents, Bank balance sheet and other Property proofs.
For more than 7.5 lakhs and up to 10 lakhs, Bank of Maharashtra executives will check all necessary documents, according to Bank of Maharashtra Education loan terms and conditions to provide loan as per parent’s future Income and type of course selected by student.
Up to 20 lakhs education loan(only for foreign studies), students have to submit all documents with proof of admission in college, according to Bank of Maharashtra terms and conditions
Bank of Maharashtra Education loan Interest Rate:
For 4 lakhs of Bank of Maharashtra loan, students have to pay 12.35% per year and the amount of above 4 lakhs and below 7.5 lakhs need to pay 13.35% of interest. Candidates, who got more than 7.5 lakhs and up to 20 lakhs, have to pay interest rate of 13.35% per year. You can have the below chart to get conclusion on Bank of Maharashtra Education loan Interest rate.
4 Lakhs- 12.35% p.a
4 lakhs to 7.5 lakhs- 13.35% p.a
Above 7.5 lakh – 13.35% p.a
Bank of Maharashtra Education Loan – courses:
1. Regular Professional and Technical Education courses of Graduation and Post-graduation studies, which are approved by AICTE/UGC/Government of India.
2. Aeronautical, Shipping degree and Diploma courses
3. Teacher Training and Nursing Courses, approved by state government or central govt of India.
4. Job oriented professional courses for abroad studies
4. Degree/Intermediate courses
Bank of Maharashtra Education Loan covers:
Bank of Maharashtra Education Loan in India and foreign includes College fee, exam fee, building fee and other fees like library/lab etc. With this Education loan you can purchase any 2-wheeler. You can have the complete expenses and how this Education loan helps you to study in India and abroad
Books and other Equipment charges
Hostel Fee etc
Documents required while applying for Bank of Maharashtra Education loan to study in India and abroad:
Students have to submit the following documents to get Bank of Maharashtra Education loan. Candidates have to fill the Bank of Maharashtra Education loan application form and must include relevant necessary documents of latest last 2 months salary slip of parent and income tax assessment sheet. Student have to attach one set of Education qualification certificates of his/her last studies like 10th class and Intermediate etc. you can have the complete details on Bank of Maharashtra Education loan documents need to submit to approve/get loan.
Income Proof-Any either salary slip/other
Education Certificates of SSC, Intermediate and other necessary, if required.
Income tax assessment of last 2 years
Last 6 months of Bank account balance sheet
Latest 2 passport Photo graphs
Admissions proof in college
1. After 1 year completion of course or After 6 months of getting job, whichever is happen earlier?
2. Loan re Payment period is commencement of 5-7 years
to get more details on Bank of Maharashtra Education Loan