Madhya Bihar Gramin Bank Education Loan Interest Rate
INTEREST RATE | 7.50% |
LOAN TENURE | In 5 to 7 years after the Holiday | Moratorium Period |
PROCESSING FEE | As decided by the bank from time to time |
GUARANTOR REQUIRED | Yes |
PRE CLOSURE CHARGES | As decided by the bank from time to time |
About Madhya Bihar Gramin Bank
Madhya Bihar Gramin Bank is a gramin bank in India established on 2006. It has headquarter in Patna and address is Shri Vishnu Commercial Complex, NH 30, New Bypass, Asochak, Patna - 800 016. it has 705 branches across the state.
It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, loans, personal loans, netbanking, RTGS, NEFT, IMPS, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.
Madhya Bihar Gramin Bank Education Loan Interest Rates, Education Loan at 7.50% Updated on 29 Mar 2024. Apply for Education Loans Online. Find Madhya Bihar Gramin Bank Education loan purpos, Eligibility, Margin, Repayment of Education Loan ,Security, Documents Required for Education Loan from below.
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Education Loan | Business Loan |
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Madhya Bihar Gramin Bank Education Loan Purpose
Madhya Bihar Gramin Bank Eligible Courses for Education Loan
Professional courses,Computers certificate courses of reputed mistitues, courses like ICWA, CA, CFA etc., courses by I.I.T.IIM, I.I.S.C. etc.Madhya Bihar Gramin Bank Education Loan Document Required
For salaried individuals
- Duly filled up and signed education loan application form along with photographs
- KYC (Know Your Customer)documents
- Proof of identity- Passport, Voter ID card, Driving license, PAN card, Aadhar Card, Government department ID card
- Latest salary slip showing all deductions or Form 16 along with recent salary certificate
- Proof of residence - Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement
- Bank Statement or Bank Pass Book of having entries of last 6 months
- Guarantor Form, Copy of admission letter or the Institute along with Fees schedule (Optional)
- Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
- Detailed break-up of the costs of the course (Optional)
For all individuals except salaried
- Duly filled up and signed education loan application form along with photographs
- KYC (Know Your Customer)documents
- IT returns of the last 2 years and computation of income of last 2 years certified by a Chartered Accountant
- Proof of identity- Passport, Voter ID card, Driving license, PAN card, Aadhar Card, Government department ID card
- Proof of residence - Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement
- Bank Statement or Bank Pass Book of having entries of last 6 months
- Guarantor Form, Copy of admission letter or the Institute along with Fees schedule (Optional)
- Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
- Detailed break-up of the costs of the course (Optional)
Madhya Bihar Gramin Bank Education Loan Amount
Banks offer loans of up to Rs 10 lakh for courses in Indian colleges and up to Rs 20 lakh for studies abroad as per Indian Banks' Association norms. The quantum of a loan depends upon the course and the institution offering this course.
Margin
a) Up to Rs.4 lakhs-Nil.b) Above Rs. 4 lakhs-5%
Mode of Repayment of Education Loan
Post Dated Cheque (PDC): PDCs are given by the borrower in advance to the bank. They will be for future dates. Bank will deposit the cheque on the date mentioned on the cheque. This mode used to be opted by the borrowers when there were no online repayment options available. This mode is no longer popular and is used by very few borrowers.
Electronic Clearance System (ECS): This mode is very popular and most of the borrowers opted for this mode of repaying the loan. It is an electronic mode for transferring the EMI from borrower's bank to lender's bank.
National Automated Clearing House (NACH): NACH is a facility offered by National Payment Corporation of India (NPCI) for online transfer of funds on due date. This system has come into force recently and is preferred by many people. The benefit of this mode is that it allows transactions to be processed in real time.
Standing Instruction (SI): It is an order or instruction which the account holder gives to his/ her bank to pay a fixed amount to another bank/ account at a regular interval. It is also used by many borrowers to pay EMIs as EMI is a fixed amount. SI is not suitable for variable amounts.
Contact details of Madhya Bihar Gramin Bank, Madhya Bihar Gramin Bank SMS balance check number SMS banking, Madhya Bihar Gramin Bank mobile banking, Madhya Bihar Gramin Bank toll free number,Madhya Bihar Gramin Bank toll free number 24*7, Madhya Bihar Gramin Bank miss call number.
- CUSTOMER CARE NUMBERS - 18001807777
- CONTACT NUMBERS - 0612-2385401
Madhya Bihar Gramin Bank Contact Details
- BANK OFFICIAL WEBSITE - https://www.mgbpatna.com
- CONTACT NUMBERS - 0612-2385401
- EMAIL ID - [email protected], [email protected]
- CUSTOMER CARE NO. - 18001807777
- TOTAL BRANCHES - 705
- HEADQUARTER - Patna
- BANK ADDRESS - Shri Vishnu Commercial Complex, NH 30, New Bypass, Asochak, Patna - 800 016
Madhya Bihar Gramin Bank Education Loan FAQs Education Loan Document Required