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| COMPARE : EDUCATION LOANS |
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| Bank of Maharashtra Education Loan |
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| Introduction |
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| Bank of Maharashtra offers education loan for studies in India and abroad. Student should be an Indian National and have secured admission to professional/ technical courses through entrance test / selection process. In case of abroad also student should have secured admission to foreign university / institutions before applying for loan. Loan covers all expenses right from tuition fees to purchase of books, equipments, etc. |
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| Highlights |
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Study Abroad |
Study India |
| Course |
Graduation |
Graduation |
| Loan Type |
Term Loan |
Term Loan |
| Loan Purpose |
The loan is provided for Job oriented Prof./Technical / PG courses/ Post Graduation: - MCA, MBA, MS etc |
The loan is provided for
Graduation courses/Colleges under Universities approved by UGC.
Other courses leading to diploma / degree etc. conducted by colleges / universities approved by UGC / Govt. / AICTE / AIBMS / ICMR etc. |
| Loan Amount |
Min. - Rs 50000
Max. - Rs 2000000
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Min. - Rs 50000
Max. - Rs 1000000
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| Margin Money |
Up to Rs. 4.00 lac - Nil
Above Rs.4.00 lac - 15%
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Up to Rs. 4.00 lac - Nil
Above Rs.4.00 lac - 5%
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| Tenure |
Min. - 5 Yrs.
Max. - 5 Yrs.
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Min. - 5 Yrs.
Max. - 5 Yrs.
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| Interest Rate |
Loans up to Rs. 4.00 lac: 12.90%
Loans above Rs. 4.00 lac up to 7.50 lacs : 12.40%
Loan above Rs 7.50 lacs : 11.65%
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Loans up to Rs. 4.00 lac: 12.90%
Loans above Rs. 4.00 lac up to 7.50 lacs : 12.40%
Loan above Rs 7.50 lacs : 11.65%
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| Time to Process Loan |
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7 days |
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 Fees & charges
Fees & charges
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Security
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Security |
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Up to Rs. 4.00 lac: Nil
Above Rs.4.00 lac to Rs.7.50 lac -
Satisfactory third party Guarantee
Above Rs. 7.50 lac
Value of collateral security after providing requisite margin as below should be equal to the quantum of finance plus 2 acceptable guarantor. |
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Terms & Conditions
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Terms & Conditions |
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EMI – 60 Months (Loan plus int.accrued together)
Moratorium: Course Period + 1 year OR 6 months after getting job whichever is earlier |
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Show All Education Loans
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