BOI Star Vidya Education Loan Scheme

EXCLUSIVE EDUCATION LOAN SCHEME FOR STUDENTS OF PREMIER EDUCATIONAL INSTITUTIONS

Eligibility Students should be Indian National. Secured admission in select Premier Educational Institutions in India, through Entrance Test /Selection process. Courses covered Regular full time Degree/Diploma courses (certificate / part-time courses not covered) Full time Executive Management courses like PGPX (For IIMs) are Lao covered. Quantum of loan Institutes under List “A” Rs.20.00 Lacs Institutes under List “B” Rs.10.00 Lacs Institutes under List “C” Rs. 7.50 Lacs (Please refer to list attached below) Rate of Interest 0.50 % over Base Rate, (floating), p.a. at monthly rests. ( presently 10.70 %) Additional concession : 0.50 % int. concession for girl students, subject to minimum Base Rate of the Bank.(presently 10.20%) Margin NIL Security No collateral Security Parents/Guardians to join as Co- borrowers. Assignment of future income Repayment period Moratorium up to course period plus six months. Maximum repayment period : For Loan up to Rs.7.50 Lacs : 10 years. For Loan over Rs.7.50 Lacs : 15 years Expenses covered Fees payable to college/school/hostel/ Examination/Library Fees. / Purchase of books/equipment / instruments. Purchase of computer/laptop Any other expenses related to education. For more information & apply online visit: http://www.bankofindia.co.in