Bank Of India Education
Loan EMI Calculator

Loan Amount (₹)
Interest Rate (%)
Tenure (Yrs)
EMI
0
EDUCATION LOAN FOR HIGHER EDUCATION, UPTO 10 LACS FOR STUDY IN INDIA AND UPTO 20 LACS FOR ABROAD STUDY
Interest
Rate

Loan limit Interest Rate
20 lacs for primier Institutions 11.00-11.40%
10 lacs for other institues 10.35-11.10%
Loan Amount &
Security

Secured Unsecured
Above 7.5 Lacs Upto 7.5 lacs
Charges &
Repayment

Processing fees Nill
Repayment period 5 to 7 years
Moratorium period Study period + 12 months
Eligibility
Criteria

  • Indian National
  • Admission guaranteed
Key Benefits &
Coverage

Concessions
  • 1.00 % concession on ROI for girl students for studies in abroad
Loan limit
  • Higher loan limit for studies in India are considered on case-to-case basis
Margin
  • upto 4 Lacs - Nil
  • Above 4 lacs - 5% for study in India
  • Above 4 lacs - 15% for abroad study
Course covered
  • Indian Courses - Courses conducted by colleges/universities approved by UGC/ AICTE/IMC/Govt. etc.
  • Indian Courses - Courses conducted by autonomous institutions like IIT, IIM etc.
  • Indian Courses - Teacher training/ Nursing courses approved by Central government or the State Government
  • Indian Courses - Courses approved by Director General of Civil Aviation/Shipping/ concerned regulatory authority
  • Courses Abroad - courses like MCA, MBA, MS, etc. offered by reputed universities
Expenses covered
  • College fees, book & laptop purchase, travel expenses and any education related expenses.
Required
Documents

Student Co-Borrower
KYC
  • Aadhaar
  • 2 passport photo
  • Passport(if going abroad)
  • Aadhaar & Pan card
  • residence proof
EDUCATION
  • Admit letter
  • cost of study statement
  • X & XII mark sheet
    ---
INCOME
  • Pan card
  • 6 months bank account statement
  • 6 months bank account statement
  • ITR of last 2years /form 16
  • Income proof(salary slip )
SECURITY
    ---
  • Assets and liabilities brief statement