- Should be an Indian National
- Should have secured admission to professional / technical courses
through entrance test / selection process.
- Should have, secured admission to foreign university / institutions
a) Studies in India
- School education including plus 2 stage of CBEC & State Education
- Graduation courses/Colleges under universities approved by UGC.
- B.A, B.Com, B.Sc. etc.
- Post graduation courses, Masters and PhD
- Professional courses, Engineering, Medical, Agriculture, Veterinary,
Law, Dental, Management, Computer etc.
- Computer certificate courses of reputed institutes accredited to
Dept.of Electronics or institutes affiliated to university.
- Courses like ICWA, CA, CFA etc.
- Courses offered in India by reputed foreign universities.
- Courses conducted by IIM, IIT, IISC, XLRI, NIFT etc.
- Evening courses of approved institutes recognized by State/ Central
- Other courses leading to diploma/degree etc. conducted by colleges/
universities approved by UGC/ Govt/ AICTE/ ICMR etc.
b) Studies abroad:
- Graduation : For job oriented professional/ technical courses offered
by reputed universities.
- Post graduation : MCA, MBA, MS etc.
- Courses conducted by CIMA - London, CPA in USA etc.
Coverage of expenses
- Tuition fees
- Hostel expenses
- Purchase of books/ equipments/ instruments etc.
- Travel expenses for studies abroad & other essential expenses.
- For studies in India : Maximum Rs.10.00 lac
- For studies abroad : Maximum Rs. 20.00 lac
There is no margin up to Rs.4.00 lac. For loans above Rs.4.00
lac. This may include own contribution as well as scholarship.
- For studies in India : 5%
- For studies abroad : 15%
No security required upto Rs.4.00 lac loan.
Above Rs.4.00 lac securities are required to be furnished as under either
singly or in combinations-
- Government securities, public sector bonds.
- Units of UTI, Shares (as per our approved list from time to time),
- L.I.C. Policies.
- NSCs/KVPs, Banks own deposits
- Mortgage of land and Building
The eligible securities are as above. However terms apply.
Value of collateral security after providing requisite
margin, as stated above should be equal to the Quantum of finance.
Documents to be Furnished
- Proof of being an Indian national i.e., School Leaving Certificate.
- Letter confirming selection through Entrance Test.
- Letter confirming admission to foreign university/ institutions.
- Brochure of the educational institution stating the amount of fees
There is no processing fee
|Rate of Interest
- Upto & inclusive of Rs. 4.00 lakh - 12.50% (BPLR-0.75)
- Above Rs. 4.00 lakhs - 13.25% (BPLR)
Repayment by EMI
You get a repayment holiday of one year after completion of the course
selected or 6 months after getting a job (after which your repayment
The loan is then to be repaid in 5 years after commencement of repayment.
| Contact Details
Head Office - Bank of Maharashtra
Lokmangal, 1501, Shivaji Nagar, Pune-411005
Phone : 020-25536802/2876
Website : visit
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