Bharatiya mahila Bank Education Loan

• Professional courses like Medical/Engineering/Veterinary/Nursing/Law/Management/PGDRIM/ ICWA/CA/CFA/IIM/ IIT/IISC/XLRI/NIFT and other courses approved by State/ Central Government.
• Other courses leading to diploma/ degree etc., conducted by colleges/ universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc., and offered by National Institutes and other reputed private institutions.

Based on the repaying capacity of the parents, students can get a maximum of Rs. 15.00 lacs.

• Upto Rs.4,00,000/- -- NIL
• Above Rs.4,00,000/- -- 15%

The loan amount should be released in proportion to the number of years, based on the progress of the student. The student should produce a certificate from the respective authority on successful completion of academic year for further release of funds.

Eligibility for Education Loan

• Should be an Indian National of age above 17 and below 35 years.
• Secured admission to Overseas College/ University/ Institution in any of the following disciplines
• Must be in possession of Admission confirmation letter from the concerned University.
• Must be in possession of a valid Passport and Visa

As infromed in the admission/ confirmation letter of the University/ College, subject to a maximum of Rs. 15.00 lacs

• Upto Rs.4,00,000/- -- NIL
• Above Rs.4,00,000/- -- 15%

Initially, an amount equal to the cost of air passage and Foreign Exchange towards the payment of semester fee and hostel expenses as per admission card of the college will be released. Further amounts will be released proportionate to expenses towards semester fees, hostel fees etc. on annual basis. Common aspects for Indian and Abroad studies

• Interest to be charged at rates linked to the Base rate as decided by the Bank from time to time. Simple interest to be charged during the study period and up to commencement of repayment.
• Servicing of interest during study period and the moratorium period till Commencement of repayment is optional for students. Accrued interest will be compounded at the time of commencement of repayment & EMI will be fixed accordingly.
• Up To Rs. 7.50 Lakhs Base Rate+2.75%
• Above Rs. 7.50 Lakhs Base Rate+1.50%
• (0.50% concession for girl Students) and concessional interest rates to students in premier institutions @ Base Rate i.e., 10.25%)

• Co-obligation of parents. Must be an Indian Citizen.
• If parents are not there, Bank could consider grandparents as co-obligator to the loans.In case of court appointed guardians, their co-obligation shall be obtained.
• In case of married person, spouse or the parents/parents-in-law could be considered as their co-obligator.

Head Office
Bharatiya Mahila Bank Limited
9th Floor, IFCI Tower
61, Nehru Place,
New Delhi – 110019
Landline No. – 011- 47472100

Website - http://www.bmb.co.in/