Bihar Gramin Bank Education Loan

Hello sir, I am Shobhit. I want you to help me by giving me some information about the Madhya Bihar Gramin Bank education loan. Can you give me some details about it?

[Kiran Chandar]

As you have asked about the Madhya Bihar Gramin Bank education loan, I am giving you information about it, check below for the details

VIDYA DAYANI EDUCATION LOAN SCHEME:

ELIGIBILITY
Courses eligible-
Professional courses,Computers certificate courses of reputed mistitues, courses like ICWA, CA, CFA etc., courses by I.I.T, IIM, I.I.S.C. etc.
- Student eligibility –
Indian, secured admission through entrance test/ selection process and parents should be in the command area of branch office.

MARGIN
Upto Rs.4 lac – Nil
Above Rs.4 lac – 10%

NATURE OF LOAN & LOAN AMT
Term Loan
Need based finance for fee,purchase of books, purchase of computers,equipments etc., subject to repaying capacity of the parents/Students.
Maximum Rs.7.5 lacs.

INTT. RATE
Upto Rs.2.00 lacs 11%
Above Rs.2.00 lacs. 12%
The interest to be debited monthly on simple basis during the repayment holiday period.
2% panel Intt. For above Rs.2 lac. for overdue amount & overdue period.

SECURITY
Co-obligation of either or both parents or guardian(s) and collateral security or suitable third party guarantee.

REPAYMENT
Repayment Holiday period – Course period + 1 year or 6 months after getting job W.E.E.
After commencement of repayment within 5-7 yrs

UPFRONT FEE
0.5% of the loan Amt.

DOCUMENTATION CHARGES
Rs.200/- only

GENERAL
1% Intt. Concession may be provided by incumbents, if the Intt. is serviced during the study period.