Bank of Maharashtra Education Loan 2020 Eligibility, Interest

By | June 27, 2020

Bank of Maharashtra Education Loan

Are you looking for Bank of Maharashtra Education Loan? If yes then you are on right webpage to check the complete eligibility criteria, term and conditions and fill the Bank of Maharashtra Student Loan 2020 Online Registration form for higher education in India or abroad.

Bank of Maharashtra Education Loan

Benefits of Scholarship  

The Latest interest rates for Bank of Maharashtra Education Loans are as follows:

  • 12.75% for loan amounts of Rs 4 lakhs or below
  • 12.25% for loan amounts between Rs 4 and Rs 7.50 lakhs
  • 11.50% for loan amounts above Rs 7.50 lakhs

Eligibility Criteria: Student who want to take admission in professional / technical course, in graduation programme, degree or diploma in a college, university or institute approved by UGC / ICMR / AIBMS / AICTE are eligible for this loan.

Essential Documents Required

  • Letter of admission
  • Loan Application Form
  • 2 Recent passport size photographs
  • Statement of cost of study
  • PAN Card of the student and Parent/ Guardian
  • AADHAR Card of the student and Parent/ Guardian
  • Proof of identity (Driving Licence/Passport/Aadhar/ any photo identity)
  • Proof of residence (Driving Licence/Passport/Electricity bill/Telephone bill)
  • Student/Co-borrower/ guarantor’s bank account statement for last 6 months
  • IT return/ IT assessment order, of previous 2 years of Parent/ Guardian/ other co-borrower (if IT Payee)
  • Brief statement of assets & liabilities of Parent/ Guardian/ other co-borrower
  • Proof of income (i.e. salary slips/ Form 16) Parent/ Guardian/ other co-borrower

Steps to Apply Online for Bank of Maharashtra Education Loan 2020

  • First of all, aspirants need to visit the Bank of Maharashtra official website to apply for the loan.
  • After that, you need to fill up an online form to apply.
  • And once the bank receives your request it will process your application the very moment
  • After that, you’ll get a call from the bank representative regarding the loan.
  • Then after the approval from Bank of Maharashtra, you need to submit the documents and processing fee.

Apply Here

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