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 6^th 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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