Education and Career Forum

I would like to know that is insurance coverage is available under the Education Loan scheme of Bank Of India? I have heard about this. But I want to get the information. Please tell me about it.

Yes, there is insurance offered by Bank of India for education loan. However, it is optional and the bank requests to opt for the insurance when the loan amount is high or the number of years is high. All the student borrowers are offered a specially designed optional term insurance by Bank of India which covers the education loan amount and the premium can be included as an item of finance.