Corporate Site |
Hindi Marathi
[+] [-] | Skip to navigation | Skip to main content | screenreader Contrast Scheme : contrast
              1800 220 229 ,1800 103 1906,
              022 40919191
rect rect
yo You are here path  Retail path Retail-Loan path BOI Vocational Studies  
banner
 
Pradhan Mantri Kaushal Rin Yojna (Skill Loan Scheme)
 


  1. OBJECTIVE :

    Skill Loan Scheme (herein after called ‘Skilling Loan’) aims at providing a loan facility to individuals who intend to take up skill development courses as per the Skilling Loan Eligibility Criteria.

  2. ELIGIBILITY CRITERIA :

    1. Training Institutes : Any individual who has secured admission in a course run by Industrial Training Institutes (ITIs), Polytechnics or in a school recognized by central or State education Boards or in a college affiliated to recognized university, training partners affiliated to National Skill Development Corporation (NSDC)/Sector Skill Councils, State Skill Mission, State Skill Corporation, preferably leading to a certificate / diploma / degree issued by such organization as per National Skill Qualification Framework (NSQF) is eligible for a Skilling Loan. The Government of India / State Governments may, from time to time, notify institutes/organizations for the purpose.

    2. Training Courses : Courses run by above mentioned Training Institutes (in 2.1) aligned to National Skill Qualification Framework (NSQF) shall be covered by the Skill Loan. There is no minimum course duration.

    3. Nationality :The applicant should be an Indian National

    4. Minimum Age :There is no specific restriction with regard to the age of the student to be eligible for skilling loan. However, if the student is a minor, while the parent executes documents for the loan, the bank will obtain a letter of acceptance/ratification from him / her upon attaining majority

    5. Minimum Qualification : As required by the enrolling institutions/organizations as per NSQF.

  3. QUANTUM OF FINANCE :

    Loans will be in the range of Rs. 5,000/- to Rs. 150,000/-.

  4. EXPENSES CONSIDERED FOR LOAN :

    Tuition / course fee, any other reasonable expenditure found necessary for completion of the course including but not limited to assessment fee, Examination fee, Library charges, Laboratory fee, Caution deposit, Purchase of books, equipment’s and instruments
  5. MARGIN :

    Nil

  6. RATE OF INTEREST :

    1.50% over Base Rate presently 11.45 % p.a. (Floating Rate at monthly rests)

  7. PROCESSING CHARGES :

    Nil

  8. SECURITY :

    No collateral or third party guarantee will be taken. However, the parent will execute loan document along with the student borrower as joint borrower.

  9. MORATORIUM PERIOD :

    Upon completion of the course, repayment will start after a moratorium period as indicated below:

    Courses of duration upto 1 year

    upto 6 months from the completion of the course

    Courses of duration above 1 year

    12 months from the completion of the course


  10. REPAYMENT :

    The loan will be repaid after moratorium period in Equated Monthly Installments (EMI’s) as follows :


    Loans up to Rs. 50,000/-

    Up to 3 years

    Loans between Rs. 50,000/- to Rs. 1.00 lakh

    Upto 5 years

    Loans above Rs. 1.00 lakh

    Upto 7 years



  11. INSURANCE :

    Optional at the requirement of the borrower.

For further information, you may contact nearest branch of the Bank. Loan at the sole discretion of Bank of India.
 
 
 
Announcement        Start | Stop

Integrity Pledge Count new


Public Notice for Unclaimed Dividend


List of Wilful Defaulters


With the implementation of Goods and Services Tax (GST), the existing service tax rate of 15% has been replaced by GST rate of 18% from July 1, 2017


All customers are requested to provide GSTIN to their branch alongwith supporting documents to claim input credit.


BOI – IPDI Bonds Series-1 Notice of Call Option


Annual Report 2017


Notice of the Annual General Meeting


Voting Result of EGM held on 04.05.2017


Notice of EGM


Voting Result of EGM


We request our esteemed customers to urgently have their KYC details updated / corrected to avoid freezing of accounts new


MCLR w.e.f. 10.07.2017


Empanelment Of Sarfaesi Valuers


Details of unpaid / unclaimed Dividend


As part of FATCA/CRS requirements, all customers are requested to submit Declaration Form (For Individuals) / Declaration Form (For Entities) click to download with supporting documents to their Parent Branch immediately. Non-Compliance with this requirement may lead to freezing or closure of account as per guidelines.


Base Rate revised to 9.55% w.e.f 31.03.2017


List of Recovery Agents/ Enforcement Agents/Detective Agency of Lucknow Zone


Change of Registrar and Share Transfer Agent


Notice to CD Customers


Notice to Customers


Notice to SB Customers


ATM transactions for savings Bank A/c Customers


Notice for our DEMAT Account Holders


Top
arrow
images © 2012 Bank of India. All rights reserved Site best viewed in resolution of 1024x768 ipv6 ready images
rect Ac Checker
BOI Vocational Studies