Star Progressive Education Loan

BOI

Education loan to parents of students, pursuing education in a recognized school from pre-school, primary school to senior secondary school for studies in India.
Maximum Loan amount upto Rs.4.00 Lakhs per stage can be considered, to be repaid in 12 equated monthly instalments immediately after disbursement of loan.

Fees payable to Junior College/school /Hostel
Examination / Library Fees/Laboratory fees
Purchase of books / equipment / instruments/uniform
Purchase of computer / laptop
Caution deposit / building fund / refundable deposit supported by Institution bills / receipts.
Life Insurance Premium for life cover of student/co- borrower for total tenure of loan
Any other expenses related to education

All the student borrowers are offered a specially designed OPTIONAL Term Insurance cover and the premium can be included as an item of finance.

For further information

you may contact nearest branch of the Bank. Loan at the sole discretion of Bank of India.

*Terms & Conditions apply. For further details, Please contact your Nearest Branch

Parent and student should be a Resident Indian
Loan to be granted in the name of father / mother of the student having reasonable source of income
Student should have secured admission to a Recognized school /High school / Jr. College (including CBSE / ICSE / IGCSE/ State Board) for any of the following courses
Stage-I: Pre-school: Play school to 2nd class
Stage-II: Primary School: 3rd to 5th class
Stage-III: Upper Primary school: 6th to 8th class
Stage-IV: Secondary school: 9th and 10th class
Stage-V: Senior Secondary school: 11th and 12th class

Quantum of Loan	Margin %
Up to Rs.4.00 lacs	Nil

For further information

you may contact nearest branch of the Bank. Loan at the sole discretion of Bank of India.

*Terms & Conditions apply. For further details, Please contact your Nearest Branch

Loan to be repaid in 12 equated monthly intallments immediately after disbursement.

No processing Charges
VLP portal charges of Rs. 100.00 + 18% GST
One time charges for any deviation from the scheme norms including approval of courses outside the scheme:
Up to Rs.4.00 lacs : Rs. 500/-
Over Rs.4.00 lacs & Upto Rs.7.50 lacs : Rs.1,500/-
Over Rs.7.50 lacs : Rs.3,000/-
Student applicant may be required to pay fee/charges, if any, levied by third party service providers who operate common portal for lodging loan applications set up

Loan will be disbursed in stages as per requirement / demand, directly to the Institution/school / Vendors of books/equipment’s/instruments to the extent possible
Student to produce mark list of previous class/ term/semester before availing next instalment
Student / Parent to provide latest mailing address, in case of any change
Student /Parent to inform Branch immediately on change of school /completion of studies/termination of studies/ any refund of fees by school/junior college /transfer of parent etc.

For further information

you may contact nearest branch of the Bank. Loan at the sole discretion of Bank of India.

*Terms & Conditions apply. For further details, Please contact your Nearest Branch

Document	Student	Co-applicant
Proof of Identity ( PAN & Aadhaar)	Yes	Yes
Proof of Address	Yes	Yes
Income proof (ITR/Form16/Salary slip etc.)	No	Yes
Academic Records(X ,XII , Graduation if applicable)	Yes	No
Poof of admission/ qualifying examination result ( if applicable)	Yes	No
Schedule of study expenses	Yes	No
2 passport size photograph	Yes	Yes
1 year Bank statement	No	Yes
VLP portal Reference Number	Yes	No
VLP portal Application Number	Yes	No
Collateral security details and documents , if any	No	Yes