Education Loans Launched

A special system begin to pay off educational loans to needy students across the country. Bank of India organized camps bread Education Loan in India for two months in order to meet the financing needs of the education of parents and children. This loan within seven years can be refunded after receiving job after a year of completing training or six months, whichever comes first.

The campaign was launched on 6 July by the President and CEO of Bank of India, Alok K. Misra zone, consisting of Chandigarh, Haryana and Himachal Pradesh launched. Students in Chandigarh include approval for student loans based on Shiksha Suraksha plan. The camps are held throughout the country, while the south of India is an existing school is Northern India as follows. With the increasing mobility of students in higher education financing needs have increased significantly.


Bank of India (BOI) is fourth with a share of 5% of total loans outstanding in the amount of education for all public sector banks as on 31st March, 2010. The overall growth of 29% and growth in Chandigarh Zonal control 22.50% at the end of the last financial year 2009-2010. Educational loan rates Bank of India are from 9.5% to Rs 4 lakhs and a grant of more than 0.5% interest on Rs.50, 000 and 1% for loans above Rs .50, 000 for female students is also available. Not only that, the provision of 1% interest rate for all students in the service of interests during the moratorium period for loans is given.

The field of higher education in India is growing at a rapid pace with a growing number of students opting for higher education. This is the easy availability of loans for education and finance, which in turn helps support their professional goals.