all about medical
 Date : 10/23/2017 
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       Purpose

 
For studies in India
 
For studies abroad

 
Eligibility
You should be an Indian National
 

You should have secured admission to professional / technical courses through entrance test / selection process.
 

You should have, secured admission to foreign university / institutions.


 

Amount
 
For studies in India Maximum Rs.7.50 lac
 
For studies abroad


 
Maximum Rs. 15.00 lac

 
Margin
 
There is no margin up to Rs.4.00 lac.
 
For loans above Rs.4.00 lac.
 
For studies in India 5%
 
For studies abroad 15%
 
This may include own contribution as well as scholarship.




 
Security
 
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-
 

  Units of UTI, Shares
 
  LIC Policies
 
  NSC's/KVP,s, Banks own deposit
 
  Mortgage of land and Building
 

Value of collateral security after providing requisite margin, as stated above should be equal to the Quantum of finance.


 

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 will start).
 

The loan is then to be repaid in 5 years after commencement of repayment.



 

Processing Fee
 

 NIL


 
Expenses Considered
 

Tuition fees, hostel expenses, purchase of books/ equipments/ instruments etc. Travel expenses for studies abroad & other essential expenses.



 

Courses Eligible
 

Studies in India
 
  School education including plus 2 stage of CBEC & State Education Boards.
 
  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 Govt.
 
  Other courses leading to diploma/degree etc. conducted by colleges/ universities approved by UGC/ Govt/ AICTE/ ICMR etc.


 

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.



 
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 charged.

 

Important

Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.


 Head Office
Lokmangal, 1501,  Shivaji Nagar
Pune - 411 005
Gen: 020-5532731, Fax: 020-5533246
E-Mail: bomcocmd@pn3.vsnl.net.in
Website: www.maharashtrabank.com


 

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