Education Loan Vidyajyoti | Empower Dreams Avail IOB Personal Loans for medical, travel & other needs with easy EMIs. Own your dream home with IOB’s low-interest home loans and flexible tenure. Drive home your dream car with attractive IOB auto loan offers. Support your higher education in India or abroad with IOB education loans. Open a Savings Bank account instantly and enjoy modern banking facilities. Manage your business with IOB current accounts tailored to your needs. Open NRE/NRO accounts with IOB and enjoy seamless global transactions. Special savings options with extra interest for senior citizens at IOB. Lodge a complaint or suggestion quickly via our online portal. Experience seamless banking with our Internet Banking services. Anytime, Anywhere Banking Book a safe deposit locker online and secure your valuables with IOB. You are being redirected to an external website . You are leaving the Indian Overseas Bank website. Do you want to proceed? iob_bank_education_loan_vidyajyoti PURPOSE OF THE LOAN To meet educational expenses such as tuition fees, hostel fees, cost of books, exam fees, and airfare (for studies abroad) for pursuing any Graduation / Post-Graduation / Diploma course in an Institution recognized by the State / Central Government / University. For job oriented professional / technical courses from reputed universities in abroad. To finance individuals who undertake training programme to acquire skills needed to join as pilots. ELIGIBLE PERSONS Should be an Indian National, NRI, PIO, OCI Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/ Merit-Based Selection process after completion of HSC (10 plus 2 or equivalent). a. If the admission to an eligible course is through a merit-based selection process, he/ she could be considered a meritorious student. b. If the admission to professional and technical courses is through common entrance test and those who get admission through this process could be considered a meritorious student. c. Management Seat may also be considered subject to funding shall be restricted to the fee as approved by the State Government/ Government approved regulatory body for payment seats will be taken, subject to viability of repayment. Student should not be in gainful employment during study. Quantum of Loan For study in India For Colleges/Universities in Top 100 Ranking of NIRF (National Institutional Ranking Framework-Ministry of Education- GOI (overall or streamwise) For Colleges/Universities above 100 but within Top 200 Ranking of NIRF (overall or streamwise). For Medical studies i.e. MBBS/MS/MD or equivalent recognized by respective authority. For Other Colleges/Institutions For Study Abroad Universities/ Colleges/Institute in Top 50 as per following website: 1. www.topuniversities.com 3. www.webometrics.com Ranked above 50 but within 200 Ranked above 200 but within 300 Ranked above 300 Up to Rs. 4.00 lakhs Above Rs.4.00 lakhs and up to Rs. 30 lakhs Above Rs. 30 Lakhs to Rs. 100 Lakhs Above Rs. 100 Lakhs to Rs. 150 Lakhs

Above Rs 150 Lakhs to Rs. 300 Lakhs Scholarship / assistantship to be included in margin Margin to be bought-in on a pro rata basis as and when disbursements are made. Repayment period: Repayment of the loan will be in equated monthly instalments for a period of 15 years for all categories (excluding course and moratorium period). Repayment Holiday / Moratorium will be Course period + 1 year. Rate of Interest: Interest Rates at a Glance - (Click here) Special Concession: a. Girl Student b. For Interest Serviced during the moratorium* c. Study in India (NIRF Streamwise Ranking) Institutes Ranked upto 20 Institutes ranked from 21 to 50 d. Study Abroad Institutes Ranked upto 100 Institutes Ranked from 101 to 200 Up to 7.5 Lakhs No Security Only Co-obligation of parent/guardian Co-obligation of parent/s or guardian together with tangible collateral security of suitable value along with assignment of future income of student for payment of instalment. Collateral security in the form of Land/building/ gov securities policy, Gold, Shares, MF units, debentures, SGB Bank Deposit in the name of the student/parent/third party with suitable margin. If a mortgaged property is used, the residual value to be calculated after maintaining LTV. 100% of loan amt on FSV to be taken if security offered is Land/Building. 2. Courses Eligible: Studies in India (Indicative list) a. Courses as initiated under various Government Subsidy Schemes. b. Approved courses leading to Graduate / Post Graduate degree and PG Diplomas/ Certificate conducted by recognized colleges/ universities recognized by UGC/ Government/ AICTE/ AIBMS/ ICMR etc. c. Courses like ICWA, CA, CFA etc. d. Courses conducted by IIMs, IITs, IISC, XLRI, NIFT, NID etc. e. Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping degree/ diploma in nursing or any other discipline approved by Director General of Civil Aviation/ Shipping/ Indian Nursing Council or any other regulatory body, if the course is pursued in India f. Approved courses offered in India by reputed foreign universities. Studies Abroad (indicative list) a. Courses as defined under various Government Subsidy Schemes. b. Graduation: For job oriented professional/ technical courses offered by reputed universities/ institutions. c. Post-graduation: MCA, MBA, MS etc. d. Courses conducted by CIMA-London, CPA in USA etc. e. Degree/ diploma courses like aeronautical, pilot training, shipping etc. provided these are recognized by competent regulatory bodies in India/ abroad for the purpose of employment in India/ abroad. Access to PM Vidyalaxmi Portal - https://pmvidyalaxmi.co.in/ - (Click here) iob_bank_media_section Follow us / Share: Visit Indian Overseas Bank Facebook page (opens in a new tab) Visit Indian Overseas Bank Twitter page (opens in a new tab) Visit Indian Overseas Bank YouTube page (opens in a new tab) Visit Indian Overseas Bank Instagram page (opens in a new tab) Visit Indian Overseas Bank LinkedIn page (opens in a new tab) Visit Indian Overseas Bank threads page (opens in a new tab) iob_bank_sticky iob_bank_footer iob_bank_copy_right © Copyright/ Indian OverseasBank - 2010 - 2026