Education and Career Forum

Hello everyone, I am looking forward to apply an education loan in Bank of Maharashtra. I would like to know about the margin under an education loan scheme of this bank. Can anyone of you let me know about this.

Originally Posted by Unregistered

Hello everyone, I am looking forward to apply an education loan in Bank of Maharashtra. I would like to know about the margin under an education loan scheme of this bank. Can anyone of you let me know about this.

For an education loan of up to Rs 4 lac there is no margin required under Bank of Maharashtra education loan scheme. For an education loan of above Rs 4 lac the margin required is 5% for studies in India and 15% for studies abroad. The maximum education loan amount offered to students through Bank of Maharashtra is Rs 10 lac for studies in India and Rs 20 lac for studies abroad. Loan for higher amount also considered on the basis of merit and case to case basis. Bank of Maharashtra website link is given Click Here

Margin under Bank of Maharashtra Education Loan Scheme are mentioned below :-

--> Upto Rs. 4 lakhs :- Nil
--> Above Rs. 4 lakhs :- 5% for studies in India and 15% for studies in Abroad.

The maximum amount of Bank of Maharashtra education loan that a student can avail for studying in India is Rs.10 lakh. ... For loans above Rs.4 lakh, a 5% margin is required for studies in India which increases to 15% for studies abroad. During the moratorium period, simple interest is charged on the loan.