Bank of Maharashtra
Website : www.bankofmaharashtra.in/
Bank Type : NationalisedBank
* 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.
Provided study loan amount in India : Upto 10 Lakhs
Provided study loan amount in Abroad : Upto 20 Lakhs
You should be an Indian National.You should have secured admission to professional / technical courses through entrance test / selection process.You should have, secured admission to foreign university / institutions.
Tuition fees, hostel expenses, purchase of books/ equipments/ instruments etc. Travel expenses for studies abroad & other essential expenses.
There is no margin up to Rs.4.00 lac.For loans above Rs.4.00 lac.Forn India : 5%;For studies abroad : 15%;This may include own contribution as well as scholarship.
Processing Fee : Nil
You get a repayment holiday of one year after completion of the course selected or 6 months after getting a job (after which your repayment will start).The loan is then to be repaid in 5 years after commencement of repayment.
No security required upto Rs.4.00 lac loan.Above Rs.4.00 lac securities are required to be furnished as under either singly or in combinations-Government securities, public sector bonds.Units of UTI, Shares (as per our approved list from time to time), Debentures.L.I.C. Policies.NSCs/KVPs, Banks own deposits.Mortgage of land and Building.The eligible securities are as above. However terms apply. Value of collateral security after providing requisite margin, as stated above should be equal to the Quantum of finance.
Proof of being an Indian national i.e., School Leaving Certificate.Letter confirming selection through Entrance Test.Letter confirming admission to foreign university/institutions.Brochure of the educational institution stating the amount of fees charged.