Education loan in Bank of Maharashtra


Bank of Maharashtra
Education loan amount size
For the students studying in India , maximum amount of upto Rs.10 lakhs will be provided and for the students studying in abroad , the maximum amount of upto Rs.20 lakhs will be provided.
Advance amount to be paid:
Nothing till 4 lakhs Rs.
More than 4,00,000 Rs: Students studying in India should pay 5% and students studying in abroad should pay 15% of the amount.
Interest rate:
Till 4,00,000 Rs: 2.00%
More than 4,00,000 Rs:2.75%
Way of repaying the loan:
One year after finishing the studies or right from 6th month after joining the job the repayment process is to be started. The loan amount is to be closed within 5 years.
Warranty:
Till 4,00,000 Rs. no property guarantor is required..
Guarantee is required for more than 4,00,000 Rs.


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