Monthly Archives: September 2017

BOI Education Loan – Online Apply Bank of India Education Loan

BOI Education Loan – Online Apply Bank of India Education Loan

Overview:

 

Bank of India Education Loan: check on this website about Education Loan, Eligibility, Documents requirement, Interest rate, features.

Bank of India was established in 1906 with a paid-up capital of Rs.50 lakh. throughout the years, the bank has been on the bleeding edge of presenting different imaginative managing an account and budgetary items. To serve the constantly developing keeping money needs of Indians, Bank of India offers benefits in territories like the individual fund, business managing an account, stores, and SME administrations.

 

Apply for Vehicle Loan 

 

When it comes to education loan, Bank of India has two unique plans that give financial support to the meriting understudies for seeking after further studies. BOI’s Star Vidya training loan only offers to subsidies for understudies who are confessed to chief instructive organisations in India.

 

Online Apply BOI Education Loan

 

Feature and Benefits of Bank of India Education Loan:

 

Objective:

BOI Star Education Loan: The Star Education Loan is accommodated understudies who wish to seek after higher studies in India and abroad.

BOI Star Vidya Loan: This elite training credit plan is for understudies who have secured a confirmation at head instructive establishments in India like IITs and IIMs.

 

Expenses Considered for BOI Education Loan:

For both the plans, the costs secured by the advance are as per the following:

 

  • Fees payable to college, school or Hostel
  • Cost of uniform, books, instruments and hardware
  • Examination expense, library charge, and research center charge as pertinent
  • Caution store, building reserve and refundable store bolstered with approved bills
  • Any other coursework related costs like cost of study visit and venture work

Also, for Students who profit the Bank of India Star Education credit for concentrates abroad, travel costs or section cash will be secured.

 

Amount of Education Loan:

 

BOI Star Education Loan: As subject to reimbursement limit, a greatest of Rs.10 lakh is offered for studies in India. For concentrates abroad, credits up to Rs.20 lakh are advertised.

 

BOI Star Vidya Loan:-

Institute TypeMaximum Loan amount offered
under Institutes List “A”Rs.20 lakhs
Institutes under List “B”Rs.10 lakhs
List under Institutes  “C”Rs.7.50 lakhs

 

Note- It would be ideal if you contact the bank for a thorough rundown of establishments assembled according to the sort. Additionally, advances up to Rs.30 lakhs will be considered under the Vidya Loan conspire with 100% substantial guarantee security equivalent to credit sum.

 

Interest Rates:- BOI Star Education Loan:-

Loan Amount/ Applicant TypeInterest Rate
Up to Rs.7.50 lakhs3% above the base rate
Above Rs.7.50 lakhs2.50% above the base rate
Women BeneficiariesConcession of 0.5% per annum for limits up to Rs.50,000 and 1% for limits over Rs.50,000
Loan for Professional coursesConcession ranging from 0.5% to 1%
If interest is serviced during moratorium1% concession

 

BOI Star Vidya Loan:-

Institute Type/Applicant TypeInterest Rate (Floating)
For students of IITs/IIMs9.95% (At the base rate)
For students of premier institutes under A, B and C category10.45% (0.50% over the base rate)
Girl students0.50% concession subject to minimum base rate

 

Processing Fees:

No Processing Fee is charged for Loan taken for studies in India. with regards to remote studies, an expense of Rs.1000 is charged which will be discounted upon the credit dispensing.

as a one-time charge for any deviation from the ordinary credit conspire, Rs.500 to Rs.3000 is charged relying upon the advance sum. record and stamp obligation charges are according to the actuals. for change of foundation, Rs.250 is charged for studies in India and Rs.500 is charged for concentrates abroad.

 

Repayment Period:

The most extreme reimbursement time frame for credits up to Rs.7.50 lakhs is 10 years. For advances over Rs.7.50 lakhs, the most extreme reimbursement time frame is 15 years.

 

Security: BOI Star Education Loan:

Advances up to Rs.4 lakh, no security is required. Credits above Rs.4 lakh and up to Rs.7.5 lakh, insurance security in the type of a reasonable outsider assurance is to be given. Credits above Rs.7.5 lakh, co-commitment of guardians together with unmistakable guarantee security alongside task of future salary to the bank is required.

 

BOI Star Vidya Education Loan:

No insurance security is required. Guardians or gatekeeper is required to join the credit as co-borrowers. Additionally, the future wage of the understudy candidate ought to be doled out to the bank for reimbursement of credit.

 

Margin: BOI Star Education Loan:

Credits up to Rs.4 lakhs, there is no edge. For advances above Rs.4 lakh profited for studies in India, the edge is 5%. For concentrates abroad, the edge is 15%, regardless of the advance sum. Grants can be incorporated into the edge and the edge is to be gotten when payment are made on a year to year premise.

 

BOI Star Vidya Education Loan:

There is no edge for instruction advances profited under this plan.

 

Eligibility Courses in India and Abroad:

BOI Star Education Loan:

 

  • For concentrates on in India, proficient graduate and post-graduate courses like medicinal, designing, law, administration and so on are secured. likewise, courses led by establishments set up by the focal and state government and different courses prompting confirmation and degree led by organisations affirmed by the administration are considered.
  • For concentrates abroad, work arranged specialised courses offered by rumoured colleges like MCA, MBA, MS and so on., and courses directed by CIMA – London and CPA – USA are secured.

 

BOI Star Vidya Loan:

Customary full-time courses, certificate courses and full-time official administration courses like PGPX offered by chief organizations in India are secured under this plan. It is to be noticed that endorsement courses and low maintenance courses are not secured.

 

List of Approved Educational Institutions:

BOI Star Education Loan: Institutes set up by focal and state government and different colleges endorsed by UGC, AICTE, AIBMS and ICMR. For concentrates abroad, presumed colleges are endorsed.

 

BOI Star Vidya Education Loan: Select chief establishments in India that are recorded under “A”, “B” and “C” classification are endorsed. It would be ideal if you visit the bank’s legitimate site or contact the bank for a complete rundown of establishments in India gathered under these classes.

 

Documentation required:

The accompanying archives may be requested amid the application procedure:

  • Address verification – Voter ID, Ration Card, Passport and so on.,
  • Identity verification – Voter ID, Passport, PAN Card and so on.,
  • Income subtle elements – PAN Card, Form 16, Form 60, Income Tax Returns, Salary Slips and so on.,
  • Education Documents – SSC and HSC check sheets, degree testaments.

 

Eligibility Criteria for BOI Education Loan:

  • The candidate ought to be an Indian national.
  • The understudy more likely than not secured admission to an expert or specialized course through a legitimacy based determination handle at organizations in India or abroad.
  • The understudy ought not to have remarkable training advance from different banks.
  • Parents or watchman ought to join as the co-candidate
  • For availing an education loan under Star Vidya plot, the understudy ought to have secured affirmation in head instructive foundations in India through passage test or legitimacy based determination handle.

 

Interest Subsidy Scheme for Education Loan

 

In order to support students from the Economically Weaker Sections (EWS) of the general public, Ministry of Human Resource Development, Government of India, has concocted an extraordinary intrigue endowment plot.

Here is a portion of the critical focuses about the Central Government Interest Subsidy scheme for instruction loan.

 

  • Education advances profited from any planned bank for seeking after any of the affirmed proficient course from perceived establishments in India are qualified to benefit this appropriation.
  • This endowment must be benefited by understudies whose parent’s pay from all sources does not surpass Rs.4.50 lakhs per annum.
  • Full intrigue sponsorship is offered for the ban time frame which is course period in addition to 1 year or 6 months in the wake of securing a job, whichever is prior.

 

Bank of India Education Loan FAQs:

 

  1. I have profited a credit of Rs.20 lakh to seek after MS abroad. Will I be qualified for intrigue appropriation plot?

No. the intrigue endowment plan is offered just for a loan up to Rs.10 lakh benefited from seeking after higher education in India.

 

  1. Will protection cover for the understudy be considered as the cost of the credit?

Yes. insurance cover for the student as provided by the institution is also covered as an expense under the loan.

 

  1. How will the training credit be dispensed?

The credit will be dispensed in stages according to the prerequisite or request straightforwardly to the foundation or merchant.

 

  1. What can be submitted as security while benefiting BOI training credit?

 

The security can be in the type of land, building, government securities, open part bonds, term stores and so forth.

How to Activate BOI Net Banking Online | Bank of India Internet Banking

How to Activate BOI Net Banking Online

Activate Online BOI (Bank of India) net Banking Login: Are you a BOI Customer (Account Holder)? and you don’t have BOI net Banking. Then hustle just a bit as we are living in period where time is money and on the off chance that despite everything you don’t Using the internet banking facility.

And, as yet remaining in long line for making charges installment, stores exchanges then enact your Online BOI Internet Banking. In this instructional exercise we are giving you venture to step manual for setup and activate your Online BOI Internet Banking.

 

BOI Net Banking

 

How to Activate BOI Net Banking Video Tutorial.

Below we are providing you the online Internet Banking activation process Demo via Video.

 

 

BOI Home Loan

Activate Internet Banking By Visiting the Bank of India Branch.

Often, there are two accounts featured in bank of India first is retail (Personal) and second is Corporate (Group or business).The First Method to activate Internet Banking by going to the bank branch where you’ve opened your account and here we will advise how to activate the internet banking and every one of the things to do to activate it. Along these lines, you should simply take after the guidelines.

In the first part account holder’s need to download application form for Retail and for Corporate and need to take out the print out of their application’s form.

 

Download Below form for Corporate’s

 

How to Activate BOI net Banking Login Process.

  1. And after this first step account holder’s need to fill the form according to their account category (i.e. Retail or Corporate).
  2. And after these to step’s account Holders have to visit to Bank of India branch. Where you have to submit the application form to the respective managers.
  3. After your submitting the application form, they will give you the User ID and Password in the seal packed envelope. You just need to keep it with you kindly do not disclosed your User ID and Password with Anyone.
  4. After 24 Hour’s your account will be activate.
  5. When your account will be activated, then you can also visit on this website www.bankofindia.co.in and you can login your Bank of India Internet Banking by using submitting your user name and password.

 

How to Register Online Internet Banking Bank of India (BOI).

  1. After getting your internet banking access you have to register your-self.
  2. First you have to visit on this link http://www.bankofindia.co.in/ and then click on new user and fill the details as they required.
  3. After that you need to give the details what you have received from bank (i.e. User ID and Password).
  4. Now, you’ve successfully created your Bank of India Internet Banking Login.

 

How to Apply for Home Loan.

 

Benefits of BOI Net Banking.

  • BOI Net Banking gives fund transfer facility.
  • It’s safe and secure online banking.
  • Its net banking website is secured.
  • Customers can download statement instead of passbook.
  • Don’t need to stand in bank queue.
  • Change/generate debit card and credit card PIN online by using net banking.
  • Check book request.
  • Transfer fund anytime even on the holidays by using IMPS.
  • Apply for any type of loans like, Home Loan, Personal Loan, etc.
  • Check eligibility for credit card.
  • Pay your bills like, electricity bill, mobile bill etc.

 

 

Thanks for visiting on this website, we hope you got all the information related to How to activate BOI Net Banking and Benefits of BOI Net Banking. Still if you have any question or doubt feel free to contact us via comment box. we would love to give answer of your questions. Kindly bookmark this website for latest updates on Bank of India by pressing CRTL + D.

PRADHAN MANTRI JAN-DHAN YOJANA (PMJDY) SCHEME – FAQ’s

PRADHAN MANTRI JAN-DHAN YOJANA (PMJDY)

PMJDY

 

Frequently Asked Questions (FAQs)

1. What is Pradhan Mantri Jan-Dhan Yojana?

Ans. Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial

Inclusion to ensure access to financial services, namely, Banking/ Savings &

Deposit Accounts, Remittance, Credit, Insurance, and Pension in an affordable manner.

Q.2. How is PMJDY different from the earlier Financial Inclusion Plan

(Swabhimaan)?

Ans. PMJDY focuses on coverage of households as against the earlier plan

Which focused on coverage of villages. It focuses on coverage of rural as well

As urban areas. Earlier plan targeted only villages above 2000 population while

Under PMJDY whole country is to be covered by extending banking facilities in

Each Sub-Service area consisting of 1000 – 1500 households such that facility is

Available to all within a reasonable distance, say about 5 Km.

Q.3. Whether Joint account can be opened in Pradhan Mantri Jan-Dhan

Yojana?

Ans. Yes, joint account can be opened.

Q.4. Under this Scheme, where can I open an account?

Ans. Account can be opened in any bank branch or Business Correspondent

(Bank Mitr) outlet.

Q.5. what is BSBDA Account?

Ans. Basic Savings Bank Deposit Account (BSBDA) has been defined by RBI vide

Its circular dated 10.08.2012. Its salient features are:

There is no requirement of minimum balance.

The services available include deposit and withdrawal of cash at bank branch as

Well as ATMs; receipt/credit of money through electronic payment channels or

By means of collection/deposit of cheques.

Maximum of 4 withdrawals a month including ATM withdrawal. No such limit for

deposits.

Facility of ATM card or ATM-cum-Debit card.

These facilities are to be provided without any extra cost.

Q.6. Whether there are any restrictions like age, income, amount etc. criteria for

Opening BSBDA by banks for individuals?

Ans. Any individual above the age of 10 years can open BSBDA Account.

Q.7. what is Ru-Pay Debit Card?

Ans. Rupay Debit Card is an indigenous domestic debit card introduced by

National Payment Corporation of India (NPCI). This card is accepted at all ATMs

(for cash withdrawal) and at most of the PoS machines (for making cashless

payment for purchases) in the country.

Q.8. what is PIN Number?

Ans. Personal Identification Number (PIN) is randomly generated code for use

Of ATM Card at the time of withdrawal of money from ATM Machine and also

At the time of making payment on PoS.

9. How to keep your Ru-Pay Card safe?

Ans. Beneficiary of RuPay Card is required to keep the Card in safe custody.

PIN should be changed at frequent intervals and should never be shared with

Anyone. While using the card at ATM Machine or PoS, PIN should be entered

In machine very secretly so that nobody could even guess about the PIN

Number. As far as possible, Card should be used at authorized places /

Centre’s only. Besides, PIN number should never be written on the Card.

Q.10. what is special advantage of Ru-Pay Debit Card?

Ans. It provides accidental insurance cover upto Rs.1.00 lac without any charge

to the customer.

Q.11. Whether illiterate customers can be issued RuPay Card?

Ans. Yes. However, Branch Manager will have to advise all the related risks to

the illiterate account-holder at the time of issuance of RuPay Card.

Q.12. How to link Mobile Number with Bank Account ?

Ans. Mobile Number of an account holder is entered in customer’s account in

CBS System by the Bank on the basis of information given in the Account

Opening Form. Also, for existing accounts, banks permit seeding through ATM,

SMS from registered mobile, net-banking or on making a request in the branch

(there may be variations depending on the bank).

Q.13. How to keep debit card operational ?

Ans. To get benefit of Accidental Insurance Cover, RuPay Debit Card must be

used at least once in 45 days.

Q.14. How long the debit card is valid and how to get Debit Card renewed ?

Ans. Debit Card expiry date is mentioned on the Card itself. Account-holder is

advised to get issued new card well before expiry date of his/her existing card

by giving fresh application to the concerned bank.

Q.15. If someone has two or more accounts and two or more RuPay Debit

Cards, whether accidental insurance cove is available in each account / each

card?

Ans. Accidental insurance cover is available only in one account.

Q.16. What is PoS Machine ?

Ans. PoS stands for Point of Sale. PoS Machine is a small device installed at

almost all Business Centres to facilitate cashless purchases to their customers.

Q.17. Does a person already having a Bank account in any bank needs to open

another account under Pradhan Mantri Jan-Dhan Yojna (PMJDY) to get the

Accidental Benefit/Life Insurance Benefit under the Scheme?

Ans. A person who is already having a bank account with any bank NEED

NOT to open a separate account under PMJDY. He/she will just have to get

issued a RuPay Card in his existing account to get benefit of insurance. Credit

facility can be extended in the existing account if it is being operated

satisfactorily.

Q.18. What is the concept of overdraft of Rs.5000/- in PMJDY Account and for

whom this facility is available?

Ans. Overdraft facility upto Rs.5000/- will be available to one account holder of

PMJDY per household after 6 months of satisfactory conduct of the account.

To avoid duplication Aadhaar number will also be required. If Aadhaar number is

not available then Bank will do additional due diligence and also seek

declaration from the beneficiary.

19. Whether Overdraft facility can be availed in more than one account?

Ans. Overdraft facility upto Rs.5000/- is available in only one account per

household, preferably lady of the household.

Q.20. What is Accidental Insurance Cover? Who will pay the premium ?

Ans. Accidental Insurance Cover is Rs.1.00 lac and no premium is charged to

the beneficiary — NPCI will pay the premium. At present the premium is Rs.0.47

per Card.

Q.21. If both husband and wife who are opening accounts under PMJDY are

eligible for Accidental Insurance Cover of Rs.1.00 lac and Life Insurance cover

of Rs.30,000/- and overdraft facility of Rs.5000/- in both the accounts separately?

Ans. Accidental Insurance cover of Rs.1.00 lac and Life Insurance Cover of

Rs.30000/- will be available to all account-holders. However, overdraft facility

upto Rs.5000/- will be available to only one person in the family (preferably lady

of the house).

Q.22. What documents are required to open an account under Pradhan Mantri
Jan-Dhan Yojana?

Ans. (i) If Aadhaar Card/Aadhaar Number is available then no other documents is

required. If address has changed, then a self certification of current

address is sufficient.

(ii) If Aadhaar Card is not available, then any one of the following Officially

Valid Documents (OVD) is required: Voter ID Card, Driving Licence, PAN

Card, Passport & NREGA Card. If these documents also contain your

address, it can serve both as “Proof of Identity and Address”.

(iii) If a person does not have any of the “officially valid documents”

mentioned above, but it is categorized as ‘low risk’ by the banks, then

he/she can open a bank account by submitting any one of the following

documents:

  1. a) Identity Card with applicant’s photograph issued by

Central/State Government Departments, Statutory/Regulatory

Authorities, Public Sector Undertakings, Scheduled Commercial

Banks and Public Financial Institutions;

  1. b) Letter issued by a gazette officer, with a duly attested

photograph of the person.

Reserve Bank of India (RBI) vide its Press Release dated 26.08.2014 has

clarified as under:

“Those persons who do not have any of the ‘officially valid documents’ can

open “Small Accounts” with banks. A “Small Account” can be opened on the basis

of a self-attested photograph and putting his/her signatures or thumb print in the

presence of an officials of the bank. Such accounts have limitations regarding

the aggregate credits (not more than Rupees one lac in a year), aggregate

withdrawals (nor more than Rupees ten thousand in a month) and balance in the

accounts (not more than Rupees fifty thousand at any point of time). These

accounts would be valid normally for a period of twelve months. Thereafter, such

accounts would be allowed to continue for a further period of twelve more

months, if the account-holder provides a document showing that he/she has

applied for any of the Officially Valid Document, within 12 months of opening the

small account.

Q.23. If the present address is different than that of printed on Aadhaar Card,

can the account still be opened under Pradhan Mantri Jan Dhan Yojana on the

basis of Aadhaar Card?

Ans. If address has changed, then a self certification of current address is

sufficient.

Q.24. What is meant by Insurance cover of Rs.30,000/- announced by Prime

Minister in his speech of 28.08.2014?

Ans. Modalities of this Scheme announced by the Prime Minister on 28.08.2014

are being worked out expeditiously and will be disseminated to General Public

very soon.

Q.25. Whether Cheque Book will be issued in accounts opened under PMJDY?

Ans. In PMJDY accounts are being opened with Zero balance. However, if the

account-holder wishes to get cheque book, he/she will have to fulfill minimum

balance criteria, if any, of the bank.

Q.26. What are the direct / special benefits attached to PMJDY?

Ans. Special benefits attached to the scheme are:

  1. Interest on deposit.
  2. Accidental insurance cover of Rs.1.00 lac

iii. No minimum balance required. However, for withdrawal of money

from any ATM with Rupay Card, some balance is advised to be

kept in account.

  1. Life insurance cover of Rs.30,000/-
  2. Easy Transfer of money across India
  3. Beneficiaries of Government Schemes will get Direct Benefit Transfer

in these accounts.

vii. After satisfactory operation of the account for 6 months, an overdraft facility will be permitted.

viii. Access to Pension, insurance products.

Q.27. I have no official valid document for opening an account. Can I still open

an account with bank?

Ans. Reserve Bank of India (RBI) vide its Press Release dated 26.08.2014 has

clarified as under:

“Those persons who do not have any of the ‘officially valid documents’ can

open “Small Accounts” with banks. A “Small Account” can be opened on the basis

of a self-attested photograph and putting his/her signatures or thumb print in the

presence of an officials of the bank. Such accounts have limitations regarding

the aggregate credits (not more than Rupees one lac in a year), aggregate

withdrawals (nor more than Rupees ten thousand in a month) and balance in the

accounts (not more than Rupees fifty thousand at any point of time). These

accounts would be valid normally for a period of twelve months. Thereafter, such

accounts would be allowed to continue for a further period of twelve more

months, if the account-holder provides a document showing that he/she has

applied for any of the Officially Valid Document, within 12 months of opening the

small account.

Q.28. How much interest savings would earn in PMJDY Account?

Ans. Interest rate applicable for Saving Bank Accounts (presently @ 4 % in most

of the banks) shall be admissible to accounts opened under PMJDY Scheme.

Q.29. How much interest will be charged by bank on overdraft facility in

PMJDY?

Ans. Base Rate + 2 % or 12 %, whichever is lower. At present it will be 12 %.

Q.30. Whether banks will be organizing Account Opening Camps in future also?

Ans. Yes. Nationalised banks have been asked to organize camps on all

Saturdays from 8.00 AM to 8.00 PM. Banks can hold additional camps on other

days also.

Q.31. If I have required papers for issuance of Aadhaar Card, can I get Aadhaar

Card in Bank and open my account under PMJDY simultaneously?

Ans. Aadhaar Registration may be got done in Camps organized by UIDAI. In

account opening camps also, endeavour is to make Aadhaar Registration

Counter available.

Q.32. Do you have to pay some fee to open a Bank account under PMJDY?

Ans. No. There is absolutely no charge / fee for opening an account under

PMJDY.

Q.33. Can a minor (below 18 years of age) can open an account under PMJDY?

Ans. A minor of above the age of 10 years can open his / her Savings Bank

account in any bank.

Q.34. Who is Business Correspondent Agent / Bank Mitra and what is their role

in PMJDY?

Ans. Business Correspondent Agents (Bank Mitras) are retail agents engaged by

banks for providing banking services at locations where opening of a brick and

mortar branch / ATM is not viable. Scope of activities of Business Correspondents

/ Bank Mitra are as under:

  1. a) Creating Awareness about savings and other products and education and

advice on managing money and debt counseling.

  1. b) Identification of potential customers.
  2. c) Collection and preliminary processing of various forms for deposits including

verification of primary information /data.

  1. d) Filling of applications / account opening forms
  2. e) Collection and payment of small value deposits and withdrawals.
  3. f) Receipt and delivery of small value remittances / other payment instructions.
  4. g) Furnishing of mini account statements and other account information.
  5. h) Any other service on behalf of the Bank, duly authorized by the appropriate

authority etc.

Q.35. How Bank Mitr helps us to use Banking Services ?

Ans. Bank Mitr represent the bank concerned and enable a bank to expand its

outreach and offer limited range of banking services at low cost, particularly

where setting up a brick and mortar branch is not viable. Bank Mitrs, as agent

of the Bank, thus are an integral part of the business strategy for achieving

greater financial inclusion.

Q.35. What is USSD based transaction and how to use it ?

Ans.  USSD based Mobile Banking offers basic Banking facilities like Money Transfer,

Bill Payments, Balance Enquiries, Merchant Payments etc. on a simple GSM

based Mobile Phone, without the need to download application on a Phone as

required at present in the Immediate Payment Service (IMPS) based Mobile Banking.  the bank will issue an MPIN (Mobile PIN) to the user. the user thereafter needs to dial *99# and the menu for using USSD opens. thereafter customer has to follow selections on the menu to complete the transaction. Charges as applicable by the telecom operator (not more than Rs.1.50 per transaction as mandated by TRAI) may be applicable.