Particulars | Rate of interest |
---|---|
Education Loan covered under Credit Guarantee Fund Scheme for Education Loan(CGFSEL) limit upto Rs.7.50 lacs | 1 Year MCLR +1.70% |
For loans above Rs.7.50 lacs | 1 Year MCLR + 2.50% |
Note
All the student borrowers are offered a specially designed OPTIONAL Term Insurance covers and the premium can be included as an item of finance.
Repayment holiday/Moratorium: Course period + 1 year Repayment Period: 15 years after commencement of repayment
Star Education Loans:- | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Concessions*:
Maximum concession under (a) & (b) is 1 % p.a. subject to, minimum one year MCLR |
No processing charges.
Student applicant may be required to pay fee/charges, if any, levied by third party service providers who operate common portal for lodging loan applications set up. One time charges for any Deviations from the Scheme norms including approval of courses outside scheme –
*Per Deviation |
For further information, you may contact nearest branch of the Bank. Loan at the sole discretion of Bank of India.
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