Star Education Loan To Working Professionals


  • No documentation charges
  • No hidden charges
  • No prepayment penalty
  • NIL Processing charges
  • No collateral security upto Rs. 4.00 Lakhs


  • Education loans for gainfully employed working professionals perusing part time/ distance education loan courses in India.
  • Maximum Loan amount upto Rs.20.00 Lakhs can be considered.

Quantum of Loan

  • Maximum Rs.20.00 Lakhs
  • Need-based finance to meet expenses, subject to earning potential of students upon completion of the course

Expenses Covered

  • Fee payable to college/Institution
  • Examination/Library fees
  • Caution deposit/building fund/refundable deposit supported by Institution bills/receipts.
  • Purchase of books/equipment/instruments/uniforms.
  • Purchase of computers/Laptops
  • Any other expense required to complete the course – like study tours, project work, thesis, etc. These items may not be available in the schedule of fees. Therefore, a realistic assessment may be made of the requirement under these heads.
  • Life Insurance Premium for life cover of student/co- borrower for total tenure of loan.


  • All the student borrowers are offered a specially designed OPTIONAL Term Insurance cover and the premium can be included as an item of finance.

You may contact nearest branch of the Bank. Loan at the sole discretion of Bank of India.

Eligibility of Student

  • Should be Indian National
  • Should be permanent employee of the Central Govt. / State Govt. / reputed Private Sector/ MNC/ Public Sector companies or Institutions
  • Should be gainfully employed during the tenure of course period.
  • The Applicant should be below 55 years of age and should have a work experience of at least 2 years
  • No adverse credit history of applicant should be there.

Courses Covered

  • The Applicant must secure admission in a Part-Time or Distance Education course of recognized universities
  • Online/Offline Executive Diploma/Certificate Programs (EDP) provided by top notch B schools listed in “List –A” under Star Vidya Loan scheme.


Quantum of Loan Margin %
Up to Rs.4.00 lakhs 5%
Above Rs. 4.00 Lakhs –upto Rs. 7.50 Lakhs 10%
Above Rs. 7.50 Lakhs 15%


Upto Rs. 4 lacs

  • NIL

Above Rs.4.00 lacs

  • Tangible Collateral security of suitable value acceptable to the Bank.
  • Assignment of future income of the student for payment of Installments.

You may contact nearest branch of the Bank. Loan at the sole discretion of Bank of India.

Rate Of Interest

Loan Amount ( in Lacs) Rate of Interest
For loans upto Rs.7.50 lacs 1 Year RBLR +1.70%
For loans above Rs.7.50 lacs 1 Year RBLR +2.50%

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  • No processing Charges
  • VLP portal charges of Rs. 100.00 + 18% GST
  • One time charges for any deviation from the scheme norms including approval of courses outside the scheme:
Scheme Norms Charges
Up to Rs.4.00 lacs Rs. 500/-
Over Rs.4.00 lacs & Upto Rs.7.50 lacs Rs.1,500/-
Over Rs.7.50 lacs Rs.3,000/-

  • Student applicant may be required to pay fee/charges, if any, levied by third party service providers who operate common portal for lodging loan applications set up

Repayment Period

  • Moratorium- No moratorium period after completion of course.
  • Repayment period: Loan to be repaid by the age of 60 years or 10 years after completion of course period, whichever is earlier.

Other Conditions

  • Loan will be disbursed in stages as per requirement / demand, directly to the Institution/ Vendors of books/equipment’s/instruments to the extent possible
  • Student to produce mark list of previous term/semester before availing next instalment
  • Student / Parent to provide latest mailing address, in case of any change
  • Student /Parent to inform Branch immediately on change of course /completion of studies/termination of studies/ any refund of fees by college /institution /successful placement /obtention of job/change of job etc.
  • Students should apply online via Vidya Lakshmi Portal developed by NSDL e-Governance Infrastructure Ltd. To apply on line on Vidya Lakshmi Portal click here

You may contact nearest branch of the Bank. Loan at the sole discretion of Bank of India.

Documents required

  • Proof of Identity ( PAN & Aadhaar)
  • Proof of Address
  • Income proof (ITR/Form16/Salary slip etc.)
  • Academic Records(X ,XII , Graduation if applicable)
  • Poof of admission/ qualifying examination result ( if applicable)
  • Schedule of study expenses
  • 2 passport size photograph
  • 1 year Bank statement
  • VLP portal Reference Number
  • VLP portal Application Number
  • Collateral security details and documents , if any

You may contact nearest branch of the Bank. Loan at the sole discretion of Bank of India.