Bharatiya Mahila Bank Education Loan

BMB Saraswati Loan

The goal of the Bharatiya Mahila Bank Education loan, is to provide the much required financial assistance to the deserving students who wish to pursue higher professional or technical education in India as well as abroad. It provides special schemes for girl child education.

BMB Student Loan Special Features
• Concession amount provided  for girl student
• No processing charges, Upfront fees
• No pre-payment penalty
• Lower rate of interest for reputed & well known institutes
• Duration of loan repayment up to 15 years
• 1%concession in interest rates for girl Education in India or Abroad

Eligibility criteria of BMB Education Loan
• Applicant member, 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 graduation, higher qualification.
• No Eligibility criteria are confirmed as of yet since every application is accessed and approved on a case to case basis.
• The loan applicant must be an Indian citizen
• Professional, Technical courses in recognizing institutions or colleges in India or Abroad
• Approaching for Abroad Education through Entrance Test or Merit Based Selection Process after Completion, qualified graduates
• The student processing of student loan must be an Indian Citizen & he or she should cross 18 years.
• There must be confirmed admission in the stepping Institute before final approving of the student loan

Approved courses for study in India              
• Graduation courses, Professional courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc.
• Regular Degree, Diploma courses like Aeronautical, Pilot training, Shipping etc., approved by Director General of Civil Aviation. If the course is pursued in India. Air Craft Maintenance Engineering/ Pre-Sea Training courses must be either a degree course recognized by a competent University or Diploma course recognized by appropriate State Govt. Body to be eligible for considering a loan.

Approved courses for study in Abroad
• Graduation – For job oriented professional, technical courses offered by reputed universities.
• Post-Graduation (PG) – MCA/ MBA/ MS etc.
• Courses conducted by CIMA – London, CPA in USA etc.,
• Graduate, Post Graduate studies in Arts, Science, Commerce,Business Administration.
• Graduate, Post Graduate studies in Pharmacy
• Graduate, Post Graduate studies in any Professional, Technical courses.
• PhD (Doctor of Philosophy)

Documents Required
• Application form
• Identity proof of borrower, Joint borrower.
• Proof of Date of Birth of the borrower.
• Marks memo. For 10th onwards.
• Study Certificate.
• Rank Card / Mark sheet.
• Proof of allotment of seat.
• Fee structure of college/ university.

Expenses included in Loan
The loan would include tuition fees, hostel charges (if applicable), cost of books, etc. The minimum amount of education loan would be Rs 50,000 and the max is 75% of total cost of education.

Type of Loan
Study in India     : Term Loan
Study in Abroad : Term Loan

Amount of loan
• Need based finance to meet the expenses worked out as above will be considered taking into account margins. No specific limit is suggested.
• In case of studies abroad, part cost of the study can be considered for financial as requested by the student duly taking into consideration part time jobs as permitted by the institutes to part fund the course costs.
• Loan  to students pursuing school education from Nursery to XII standard
• Maximum Rs 4.00 lac (subject to year wise sublimit).

Study in India
• Min. – Rs 50000
• Max. – Rs 1000000
Study in Abroad
• Min. – Rs 50000
• Max. – Rs 2000000


Loan upto Rs. 4 lakhs. Nil
Above Rs. 4 lakhs. Studies in India 5%
Studies Abroad 15%

• Scholarship/ assistantship to be included in margin.

• Repayment method varies widely from case to case. Hence there is no defined loan repayment method.
• Repayment instruction can be obtained at Rs.500 plus service tax as applicable per instance.

Rate of interest

Loans up to Rs. 4.00 lac 12.50 %( BR+2.25%)
Loans above Rs. 4.00 Lac & up to 7.50 Lac 13.00 %( BR+2.75%)
Loans above Rs.7.50 lac 12.75 %( BR+2.50%)

• Simple interest during the moratorium period, thereafter compounded monthly

• No defined terms for security are available.
• Third party guarantee and/or collateral security may be asked for in appropriate cases.

Processing/upfront charges
• For Studies India –NIL
• For Studies Abroad – Rs.1000 for sanction letter for approval of VISA.
• Amount refundable on availing loan.
• Document, Stamp Charges – actual charges.

BMB Saraswati Loan Official website:

One thought on “Bharatiya Mahila Bank Education Loan

  1. Need a loan pursuing M.B.B.S and the cost of education including all expenses is estimated to be 30 Lakhs, can a loan sanctioned for my case

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