Education and Career Forum

Hello sir, I want to apply for an education loan at IOB under Vidyajyoti Scheme. Please tell me is this scheme running? Terms and conditions to apply for it?

Yes it is running.
Quantum of loan :::
Maximum of Rs. 30.00 lakhs for studying in India and Rs. 40.00 lakhs for studying abroad.
Eligibility:::
Should be an Indian National
Should have secured admission to professional/technical courses in India or abroad.

Margin
For loans upto Rs. 4.00 lakh Nil
For loans above Rs. 4.00 lakh
Studies within India 5%
For studies abroad 15%

for calculating the interest rate you need to check their link they have provided.

Interest servicing:::

It is left to the option of the student either to service the interest during the study period or pay it along with the principal over a period of 5 - 7 years to commence from 12th month after completion of the study.