Education and Career Forum

Hello friends, can anyone of you please let me know about the details of education loan scheme of Indian Overseas Bank? I have heard about Vidya Jyoti Education Loan Scheme but don’t know much more about this. Kindly tell me about this scheme.

The minimum amount for this loan is 7.5 lacs . The maximum loan amount for studying in India is Rs 30 lacs and for studying abroad is Rs 40 lacs.

If a student is unable to complete the course on time , the bank may offer qn extension of upto 2 years.

Those who have taken admission in a reputed college can apply for education loan.

Children or wards of IOB employees get a discounted spread of 1.9% .

The bank offers 1% interest concession to borrowers if interest is services during the moratorium period.