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You are here: Home > Products & Services > Loans > Bangiya Siksha Suraksha Yojana

Bangiya Siksha Suraksha Yojana

We are now at your doorstep to support your pursuit for excellence. Our Educational Loan Scheme has been designed to meet your expenses for higher studies in India and abroad. If you are an Indian National and secured an admission to any of the following academic/ professional/ technical courses through Entrance Test/ Selection process in a Board/ Institution/ University.


The student of Indian national to pursue admission to a professional/technical course through entrance test / merit based selection process either inland or abroad.

Courses Eligible for Study in India:

  1. Post Graduation Courses: Masters and Ph.D.
  2. Professional Courses: Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc.
  3. Computer Certificate Courses of reputed Institutes accredited to Dept. of Electronics or Institutes affiliated to University.
  4. Courses like ICWA, CA, CFA, etc.
  5. Courses conducted by IIM, IIT, IISC, XLRI, NIFT, etc.
  6. Courses offered in India by reputed foreign Universities.
  7. Evening Courses of approved Institutes.
  8. Other Courses leading to Diploma/ Degree, etc. conducted by Colleges/ Universities approves by UGC/ Govt./ AICTE/ AIBMS/ ICMS, etc.

Courses Eligible for Study Abroad:

  1. Graduation: For job-oriented professional/ technical courses offered by reputed Universities.
  2. Post Graduation: MCA, MBA, MS, etc.
  3. Courses conducted by CIMA - London, CPA in USA etc.

Quantum of Loan:

  1. For study in India: Max. Rs. 10 lakh.
  2. For study abroad: Max. Rs. 20 lakh.

Other Rules:

Expenses covered by the Loan:
  1. Fees payable to College / School / Hostel.
  2. Examination / Library / Laboratory Fee.
  3. Purchase of Books / Equipments/ Instruments / Uniforms.
  4. Caution Deposit / Building Fund / Refundable Deposit supported by Institution Bills / Receipts.
  5. Travel Expenses / Passage Money for studies abroad.
  6. Purchase of Computers: Essential for completion of the Course.
  7. Any other expenses required to complete the Course like study tours, project work, thesis, etc.

Rate of Interest:

Sl No. Quantum of Loan Interest
1 Upto Rs.4.00 lac 12.00
2 Above Rs.4.00 lac 12.75

(The interest shall be debited monthly on simple basis during the repayment holiday/moratorium period and thereafter on compounding basis).

  1. 1% interest concession may be allowed to loanee(s) if the interest is serviced during the study period when repayment holiday is specified for interest / repayment under the scheme.
  2. Penal interest @2% to be charged for loans above Rs.4.00 lakh for overdue amount and for the overdue period.

Repayment of Loan:

The loan is to be repaid in maximum 5 to 7 years after commencement of repayment. The repayment will commence after a moratorium/ repayment holiday which is course period plus one year (two years depending on merit) or six months after getting the job whichever is earlier.'In all cases there would be undertaking for attachment of future income'.

Life Insurance Coverage:

To ensure security to student's and borrower's life and against their loan liability and additional loan component for payment of one-time premium for such insurance coverage may be sanctioned by bank on request from the customer.

Note: The accrued interest during repayment holiday period is to be added to the principal and repayment in EMI fixed.


Sl No. Quantum of Loan Security
1 Upto Rs. 4.00 lakh Nil
2 Above Rs. 4.00 Lacs and upto Rs. 7.50 lakh Collateral in the form of a suitable third party guarantee. The Bank may, at its discretion, waive third party guarantee if satisfied with the net-worth/means of parent who would be executing the documents as joint borrower.
3 Above Rs. 7.50 lacs Collateral of suitable value or suitable third party guarantee.

Assignment of future income of student for repayment of loan to be done in all cases.

The security may be of mortgage of land / building / paper securities or unencumbered portion of already mortgaged land/ building on 2nd charge basis provided the value of the same covers the required loan amount or any other 3rd party with suitable margin on the value of paper securities.

In case the loan is given for purchase of Computer, the same is to be hypothecated to the Bank.


The document should be executed by both the student and the parent / guardian.

Processing Charge:

  1. For study in India: Nil.
  2. For Abroad: 0.20% of loan amount.

Please contact your nearest BGVB branch for further information.
Terms & conditions apply.

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