bob Eco-Saarthi

• Interest rates start from 7.10%*
• Loan amount up to 25.00 lacs
• Nil processing charges for loans up to Rs. 7.50 lacs
• Repayment period up to 15 years (after completion of moratorium i.e. course period + 1 year)
• Income tax benefit under section 80E

This student education loan is given to students pursuing Environmental, social and governance (ESG ) courses (Diploma, Graduation, Post Graduation and related courses).

Courses Eligible- Environmental, social and governance (ESG) courses (Diploma, Graduation, Post Graduation and related courses).

Student Eligibility

• Should be Resident Indian.
• Should have secured admission in recognized Institution for approved courses by UGC/Govt/AICTE.

• Institutions covered under PM Vidyalakshmi Scheme and in Premier Institutes under Baroda Gyan Scheme.

TOP 10 llMs & IITs	BRLLR - 1.05 %=6.85%
AA Category Institutions	BRLLR - 0.70%=7.20%
A Category Institutions	BRLLR - 0.50 % = 7.40%
B Category Institutions	BRLLR + 0.00%. =7.90%
C Category Institutions	BRLLR + 0.50% = 8.40%

• Institutions not covered under PM Vidyalakshmi Scheme and in Premier Institutes under Baroda Gyan Scheme.
• Up to Rs 7.50 Lakhs- BRLLR + 2.00% p.a.
• Above Rs 7.50 Lakhs- BRLLR + 1.90% p.a.
• GCLI is mandatory for loan amounts above Rs 7.50 Lacs .
• Simple interest to be charged at monthly rests during the repayment holiday / moratorium period.
• Servicing of interest during the moratorium period till commencement of repayment is optional for students. The accrued interest during the repayment holiday period to be added to the principal and repayment in Equated Monthly Instalment (EMI) be fixed after completion of moratorium period.

• KYC of applicant and co-applicants
• Academic Records
• Proof of admission
• Entrance Exam Result (if any)
• Statement of cost of study / Schedule of expenses
• Income Proof for Salaried Co-applicant / Guarantor (if applicable)
• Bank account statement for last 6 months etc.
• Property Documents (if applicable)

Processing fees-

A nonrefundable Lump sum amount Rs. 8500/-+Taxes per property (towards Advocate and Valuer charges) to be taken upfront in case of all Education Loan accounts, wherever property is mortgaged.
Mandatory GCLI for loan amount above Rs 7.50 Lacs PMVLP charges- 200

Target group

Students pursuing Environmental, social and governance (ESG ) courses (Diploma, Graduation, Post Graduation and related courses).

* Quantum of finance- Maximum Up to Rs. 25.00 lakhs.

Margin-

* Repayment Holiday/ Moratorium Period

Course period + 1 year

Coverage of expenses for

• Fee payable to college/institution/university/school/hostel.
• Examination/library/laboratory fee.
• Hostel fees/charges.
• Purchase of books/instruments/uniforms.
• Caution deposit, building fund/refundable deposit supported by institution bills/receipts, subject to the condition that the amount does not exceed 10% of the total tuition fees for the entire course.
• Purchase of personal computer/laptop – essential for completion of the course.
• Insurance premium for student/borrower, if any opted by the student. Presently the bank has a tie-up arrangement with M/s. India First Life Insurance Co for Group Credit Life insurance cover to education loan borrowers.
• Any other expenses required to complete the course like study tours, project works, thesis, etc.
• Cost of external coaching/tuition is not to be considered.

NoteThe details of expenses for the entire course period to be obtained from college/institution.

Repayment Period

The loan is repayable in maximum 10-15 years after the completion of the moratorium period as mentioned above.

For loans up to Rs. 7.5 Lakhs: Moratorium Period + Maximum 120 instalments

For loans above Rs. 7.5 Lakhs: Moratorium Period + Maximum 180 instalments

Unified Processing charges -

A nonrefundable Lump sum amount Rs. 8500/-+Taxes per property (towards Advocate and Valuer charges) to be taken upfront in case of all Education Loan accounts, wherever property is mortgaged.

Security

• For institutions covered under PMVLs and BOB Premier institution – Nil
• Other institutions up to Rs. 7.50 lakh – Nil
• Other institutions above Rs. 7.50 lakh – 100% collateral security
• Loans up to Rs. 7.50 lakh – NCGTC cover is mandatory

Disbursement

Directly to school/institution/hostel - term wise/year wise, in stages as per the requirement/demand.

Directly to book seller/shop for purchase of books, instruments, equipment.

In case a student does not secure a hostel facility with an educational institute, he may be allowed to make his own arrangement if required. Lodging/boarding charges in such cases to be paid directly to the concerned establishment, after verifying Bonafide of the same.

Financing Branch

• Branch in the vicinity of the institute

Or

• Branch which is in close proximity to the permanent residence of the parent / at the place of posting / service of the parent branch

In case where the programmes are being offered by premier institutions in collaboration with technology partners like Huges, Times Pro, etc., the centres of such technology partners may be treated at par with the institutions and a branch in the vicinity of the centre of such technology partners can also sanction.

• Insurance: Mandatory GCLI for loan amount up to Rs. 7.50 lacs.