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Bank of Maharashtra Skill Loan Scheme (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.
Courses run by above mentioned Training Institutes (in 4.a) aligned to National Skill Qualification Framework (NSQF) shall be covered by the Skill Loan. There is no minimum course duration.
Loans will be in the range of Rs.5,000/- to Rs.1,50,000/-. The estimated per month fees, based on sector & NSQF level, will be available with the NSDC
The banks can charge nominal margin money as down-payment from the student, to keep the student serious about the course. However, the down-payment and the amount paid as Interest during the course (Clause 11) together should not exceed 10% of the total course amount.
No collateral for such skilling loan will be taken. Bank have option to apply to the National Credit Guarantee Trust Company Ltd (NCGTC) for credit guarantee against defaults.
Rate of Interest
For interest rate check out this link, Bank of Maharashtra Interest RateRepayment
Head Office - Bank of Maharashtra
Lokmangal, 1501, Shivaji Nagar, Pune-411005
Phone : 020-25536802/2876
Website : visit
Click here for the nearest bank branches
Note : Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.
TagsSkill Loan , Bank of Maharashtra Education Loan , Loan for vocational course , Skill Loan Schemes
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