Education Loan in Indian Overseas Bank
Indian Overseas Bank
In Indian Overseas Bank , Education loan is provided in the
name of vidhyajyothi.
Education loan amount size:
For the students studying in India , maximum amount of upto
Rs.7,50,000 will be provided and for the students studying in abroad , maximum
amount of upto Rs.15,00,000 will be provided.
Advance amount to be paid:
Nothing till 4,00,000 rs.
More than Rs.4,00,000 – Students studying in India should
pay 5% of the amount and students studying in abroad should pay 15% of the
amount.
Education scholarship will be added to the advance amount to
be paid.
Interest rate:
Vidhyajyothi Higher education
loan
|
Rs.4 lakhs and upto Rs.7.5 lakhs
|
01.08.2011
|
|
Above Rs.7.5 lakhs
|
One year after finishing the studies or right from 6th
month after joining the job the repayment is to be started. The loan amount is
to be closed within 5 to 7 years.
Warranty:
Upto 4,00,000 Rs : No property guarantor is required.
From 4,00,000 Rs. upto 7,50,000 Rs.: Third party’s guarantee
is required.
More than 7,50,000 Rs: Parents, student or the third party
agreeing letter assuring the repayment of loan is required.
Sir,I want education loan for pilot trainig in iob bank.my loan amount 1lakh.plz,reply this massege.
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