Corporate Site |
Hindi Marathi
[+] [-] | Skip to navigation | Skip to main content | screenreader Contrast Scheme : contrast
              1800 220 229 ,1800 103 1906,
              022 40919191
rect rect
yo You are here path  Retail path Retail-Loan path BOI Star Education Loan  
banner
 
Star Education loan
 
  1. OBJECTIVE & PURPOSE :

    The Star Educational Loan Scheme aims at providing financial support from the bank to deserving/ meritorious students for pursuing higher education in India and abroad. The main emphasis is that every meritorious student is provided with an opportunity to pursue education with the financial support on affordable terms and conditions.


  1. ELIGIBILITY CRITERIA :


    1. STUDENT'S ELIGIBILITY:
      • Should be an Indian National;
      • Student should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/Merit based selection process after completion of HSC (10 plus 2 or equivalent).
      • Good academic career.
      • The student should not have outstanding education loan from any other Institution.
      • Father/Mother should be co-borrower.
      • Branch nearest to the permanent residence of student will consider the loan.
    1. ELIGIBLE COURSE :
  • Studies in India (Indicative list) :
    • Approved Courses leading to graduate /post graduate degree and     P.G. diplomas conducted by recognized colleges/ universities by UGC/Government/AICTE/AIBMS/ICMR
    • Courses like ICWA,CA,CFA,etc.
    • Courses conducted by IIM, IIT, IISc, XLRI, NIFT, NID and other Institutes set up by Central/State Govt.
    • Regular Degree /Diploma courses like Aeronautical, Pilot Training Shipping, degree/diploma in nursing or any other discipline approved by Director General of Civil Aviation/Shipping/Indian Nursing Council

Note : Professional courses not approved by AICTE and conducted by Institutes not recognized by State Universities is outside the purview of the eligibility under the scheme.

  • 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.


  1. EXPENSES CONSIDERED FOR LOAN :


    • Fee payable to college/school/hostel*
    • Examination/Library/Laboratory fee.
    • Purchase of books/equipments/instruments/uniforms.
    • Caution deposit/building fund/refundable deposit supported by Institution bills/receipts.
    • Travel expenses/passage money for studies abroad.
    • Purchase of computers/Laptops - essential for completion of the course.
    • Life Insurance Premium for life cover of student/co-borrower
    • Any other expenses  required to complete the course - like study tours, project work, thesis, etc.

      * As per brochure/ demand letter from the institution.


  1. QUANTUM OF FINANCE :

    Need based finance subject to earning potential of student upon completion of the course with and following ceilings :
    • Studies in India - Maximum Rs.10.00 lakh
    • Studies abroad - Maximum Rs.20.00 lakh.
  • MARGIN :

  • Upto Rs.4 lakh : Nil
    Above Rs.4 lakh - Studies in India : 5%     

                                           Studies Abroad : 15%·

Scholarship could be included in margin.· Margin to be brought in on year to year basis as and when disbursements are made.



  1. SECURITY :

Upto Rs. 4 lakh

:

Parents or Guardian to be joint borrowers
( To be covered under CGFSEL)

Above Rs.4 lakh &upto Rs.7.5 lakh

:

Parents or Guardian to be joint borrowers
( To be covered under CGFSEL)

Above Rs.7.5 lakh

:

Co-obligation of Parents together with tangible Collateral security of suitable value along with the assignment of future income of the student for payment of installments.


Note : The security can be in the form of land/building/Govt. Securities/Public Sector Bonds/NSC/KVP/LIP/ Banks Term Deposit etc., in the name of Student/ Parent/ Guardian/Guarantor with suitable margin.

 
 
May We Reach You ?
Announcement        Start | Stop

Notice to Upper Tier-2 Series 1 Bondholders


Change of Registrar and Share Transfer Agent


Press Meet & Analyst Meet


Press Release-March 2016


MCLR w.e.f. 07.07.2016


Advertisement for Empanelment
of Pvt. Detective/Investigation
Agencies


Notice to CD Customers


Notice to Customers


Revised Base Rate 9.70% w.e.f 05.10.2015


Notice to SB Customers


2nd and 4th Saturday OFF


ATM transactions for savings Bank A/c Customers


Notice for our DEMAT Account Holders


Caution Notice to Customers


Notice for Depository customers


OTP for Internet transactions with credit card


Corporate Social Responsibility


The bank never asks any confidential information to customers such as: ATM card no., credit card no. ATM pin, user id of internet banking, login password, transaction password, account number, etc. If such information is asked over phone or mobile or through email, avoid disclosing such confidential information to the caller. In such cases Customers are requested to bring this to the notice of their parent branch/call centre


As per RBI directive PIN is required for debit card PoS transactions on domestic terminals from 1.10.13.


International Card transactions temporarily blocked


To extend the benefit of exercising another option to join the existing pension scheme in terms of Joint Note dated 27.04.2010 to Officers / Family Members of deceased Officers who had taken voluntary retirement from Bank's service on or after 29.09.1995 under Regulation 19(1) of Bank of India Officers' Service Regulations 1979


Public Notice for BOI Customer.


Cash Retraction feature has been disabled on all BOI ATMs in terms of RBI guidelines.


Top
arrow
images © 2012 Bank of India. All rights reserved Site best viewed in resolution of 1024x768 ipv6 ready images
rect Ac Checker
BOI Star Education Loan