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Interest rate is 3 % above the base rate for loan of 7.5 Lac and 2.5 % above the base rate for loan of amount greater than 7.5 Lac.
Repayment period is 7 years for loan of 7 Lac and 10 years for loan greater than 7 Lac
No margin for loan of amount 4 Lac and 5 % margin for above 4 Lac in India and 15 % margin for above Rs 4 Lac abroad.
All the academic documents of the student as well as the duly filled application form and third party collateral if required.
Below are given the eligibility criterions which should be fulfilled by the candidate in order to be able to apply for the education loan in Bank of India.