Education and Career Forum

Hello everyone, I am interested to apply for an education loan in Bank of India for studying MCA(H) course. Can I know the process to apply an education loan in this through online? Please tell me about the process of disbursement of loan also.

In order to apply for loan , you can either fill the application form online or offine , whatever suits you.
You can visit the nearby branch of bank for offline application.

Student must have secured admission to a higher education course in a recognised institution.

Documents to be submitted along with application form are:_
Marksheet
Proof of admission
Schedule of expenses for course
Adhaar card, pan card
ID proof
Signature proof
Passport size photograph
Collateral security if needed.

For loans upto 7.5 lacs only parent as co borrower or 3rd party guarantee.
Above 7.5 lacs parent as co borrower and tangible collateral security is needed.

Repayment will commence one year after completion of course.
For loans upto 20 lacs there is no processing fee.