Loan Program: Vidya Vardhini Scheme

Purpose : Pursuit of studies In India and abroad

Approved Courses

Graduate and postgraduate courses in engineering, computer technology, medicine etc. All vocational courses/job oriented diploma courses, recognised by government and universities. Similar courses pursued in universities abroad. Full time postgraduate research in any of the aforesaid subjects.

Eligibility

Should be a citizen of India. For vocational training courses and job oriented course, age of the individual should be between 15-28 years, and 18-30 in case of postgraduate courses and/or studies abroad. The applicant should have a good academic record. For studies abroad, the candidate should have secured admission in a particular university after having appeared in the specific entrance examinations. The applicant should have secured a minimum of 50% marks in the major subject. In case of SC/ST candidates eligibility norms may be relaxed.


Amount of Loan : The loan amount could vary depending on the specific subject requirement. At present, for studies abroad, Rs15 lakhs and for studies in India Rs 7.5lakhs are allotted.

Margin :

• Upto Rs. 4 lakh - nil
• For studies in India - 5%
• For studies abroad - 15%

Repayment : Within 15 years from the first date of disbursement, including moratorium period.


For updated information please visit Bank of India