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Bank of Maharashtra Education Loan College List: Eligibility, Documents Required and More
A higher education can be an important milestone but is usually very expensive. The Bank of Maharashtra provides various education loan programmes to assist aspirant students in India and abroad in closing this financial gap.
This blog will examine the Bank of Maharashtra's education loan college list, the types of education loans, how to apply for the loan and much more.
Overview
| Feature | Details |
|---|---|
| Maximum Loan Amount | Up to ₹20 lakhs |
| Loan Tenure | Up to 15 years |
| Interest Rate | Varies by scheme and institution category (as of 2025-26; rates subject to change — verify with Bank of Maharashtra) |
| Coverage | Tuition fees, living expenses, and other academic-related expenditures |
| Eligibility | Available for students studying in India and abroad |
| Bank of Maharashtra Education Loan College List | IIM, IIT, ISB, XLRI, AIIMS, and other reputed universities across the country |
Types of Education Loans under the Bank of Maharashtra
Bank of Maharashtra provides various types of education loans for students. We have covered the essential aspects like interest rate, loan amount, and security requirements for each type of loan below:
| Loan Scheme | Loan Amount | Interest Rate (Effective ROI) | Margin | Security |
|---|---|---|---|---|
| Maha Scholar Education Loan Scheme A | Up to ₹10 lakhs | 8.10% - 10.20% (as of 2025-26; rates subject to change — verify with Bank of Maharashtra) | Nil | Parent/Guardian as co-borrower |
| Mahabank Skill Loan Scheme | Up to ₹1.5 lakhs | 10.8% (as of 2025-26; rates subject to change — verify with Bank of Maharashtra) | 5% for studies in India; 15% for abroad | Parent/Guardian as co-borrower; No Collateral required |
| Model Education Loan Scheme | India: Up to ₹10 lakhs; Abroad: Up to ₹20 lakhs | 10.95% - 11.30% (as of 2025-26; rates subject to change — verify with Bank of Maharashtra) | Nil for loans up to ₹4 lakhs; 5% above ₹4 lakhs; 15% for studies abroad | For loans up to ₹7.5 lakhs: Parent/Guardian as co-borrower; For loans above ₹7.5 lakhs: Collateral required |
Also Read: Bank of Baroda Education Loan Premier Institutions list
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Bank of Maharashtra Scholar Loan
Based on the Bank of Maharashtra Education Loan College List category, the loan quantum, the interest margin and other vital terms vary. This section talks about the Bank of Maharashtra scholar loan in detail:
For Full-time Courses
| Category | List AAA | List AA | List A | List B |
|---|---|---|---|---|
| Maximum Loan Amount | ₹ 50 Lakh | ₹ 20 Lakh | ₹ 15 Lakh | ₹ 7.5 Lakh |
| Margin (Including Scholarship/ assistantship) | Nil | Nil | Nil | 5% |
| Rate of Interest (Effective) | 8.10% | 8.35% | 8.50% | 9.95% to 10.2% |
| Security | No security; parents/guardian/spouse need to be the co-borrower | |||
| Moratorium Period | Course period + 1 year | |||
| Courses Eligible | Regular full-time degree/diploma courses where students are admitted through merit. Executive management courses of colleges mentioned in the Bank of Maharashtra Education Loan College List. | |||
*Note:
The following courses from the Bank of Maharashtra Education Loan College List are also accepted with differences in the maximum loan amount, moratorium period, and others:
- Part-time graduate and PGDM Diploma and certificate courses in Management by colleges under List AAA, List AA and List A
- Post Graduate Degree and PG Diploma Courses for MBBS doctors by reputed Colleges in India
Please go through the official website of the Bank of Maharashtra to know more.
Also Read: Bank of Maharashtra Education Loan: Eligibility and Interest Rates
Bank of Maharashtra Premier Institute List
The Bank of Maharashtra Education Loan College List is divided into 4 lists: list AAA, List AA, List A and List B. In this section, we have mentioned the top 15 colleges belonging to each category of the Bank of Maharashtra Education Loan College List:
List AAA- Bank of Maharashtra Education Loan College List
| College Name | City |
|---|---|
| Indian School of Business (ISB) | Mohali |
| Indian School of Business (ISB) | Hyderabad |
| Faculty of Management Studies | New Delhi |
| Indian Institute of Management | Ahmedabad |
| Indian Institute of Management | Bengaluru |
| Indian Institute of Management | Kolkata |
| Indian Institute of Management | Lucknow |
| XLRI-Xavier School of Management | Jamshedpur |
| S.P. Jain Institute of Management & Research | Mumbai |
| All AIIMS (All India Institute of Medical Sciences) | ALL |
| Post Graduate Institute of Medical Education and Research | Chandigarh |
| Jawaharlal Institute of Postgraduate Medical Education & Research | Puducherry |
| Sanjay Gandhi Postgraduate Institute of Medical Sciences | Lucknow |
| National Institute of Mental Health & Neuro Sciences | Bangalore |
Also Read: Best Engineering Colleges in Maharashtra
List AA - Bank of Maharashtra Education Loan College List
| Institute Name | City |
|---|---|
| Indian Institute of Technology Madras | Chennai |
| Indian Institute of Technology Delhi | New Delhi |
| Indian Institute of Technology Bombay | Mumbai |
| Indian Institute of Technology Kanpur | Kanpur |
| Indian Institute of Technology Roorkee | Roorkee |
| Indian Institute of Technology Kharagpur | Kharagpur |
| Indian Institute of Technology Guwahati | Guwahati |
| Indian Institute of Technology Hyderabad | Hyderabad |
| National Institute of Technology Tiruchirappalli | Tiruchirappalli |
| Indian Institute of Technology Indore | Indore |
| Indian Institute of Technology (Banaras Hindu University) | Varanasi |
| Indian Institute of Management Kozhikode | Kozhikode |
| Indian Institute of Management Mumbai (formerly NITIE) | Mumbai |
| Indian Institute of Management Indore | Indore |
| Indian Institute of Management Raipur | Raipur |
List B - Bank of Maharashtra Education Loan College List
| Institute Name | City |
|---|---|
| BMS College of Architecture | Bengaluru |
| School of Planning and Architecture, New Delhi | New Delhi |
| National Institute of Design, Ahmedabad | Ahmedabad |
| Indian Institute of Technology Madras | Chennai |
| National Institute of Technology Tiruchirappalli | Tiruchirappalli |
| Jamia Millia Islamia | New Delhi |
| Birla Institute of Technology & Science, Pilani | Pilani |
| Indian Institute of Management Kozhikode | Kozhikode |
| Indian Institute of Management Indore | Indore |
| Symbiosis Institute of Business Management | Pune |
| Christian Medical College, Vellore | Vellore |
| All India Institute of Medical Sciences (AIIMS) | New Delhi |
| Kasturba Medical College, Manipal | Manipal |
| JSS Medical College, Mysore | Mysore |
| Amrita Vishwa Vidyapeetham | Coimbatore |
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Eligibility Criteria for Bank of Maharashtra
| Eligibility Criteria | Details |
|---|---|
| Student Eligibility | Indian citizens who have been accepted into reputable schools in India or outside for professional or technical courses |
| Course Eligibility | Graduate, doctoral, and postgraduate programs, along with job-oriented professional and technical courses |
| Maximum Age | 50 years (for Part-time graduate and PGDM Diploma and certificate courses in Management by colleges under List AAA, List AA, and List A); 45 years (for Post Graduate Degree and PG Diploma Courses for MBBS doctors by reputed Colleges in India) |
| Collateral Requirement | No collateral is required for loans up to ₹4 lakhs. For loans above ₹4 lakhs, collateral security and/or a third-party guarantee may be required. |
How to Apply for an Education Loan in the Bank of Maharashtra
Online Process
- Navigate to the "Loans" tab on the official Bank of Maharashtra website.
- Click "Apply Online" after selecting "Education Loan" from the drop-down menu.
- Complete the online application form by entering all necessary information, such as your data, course details, and loan requirements.
- Upload the required files containing proof of identity, address, and income.
- Once you've applied, wait to hear from a bank representative.
Offline Process
- Go to your local Bank of Maharashtra branch and request an application for an education loan.
- You must complete the application form by entering all necessary information about yourself, your course, and the loan requirements.
- Attach the necessary paperwork, such as identification, proof of address, and evidence of income.
- Send the bank agent your application.
- Await the bank's processing of your application and call if more information or confirmation is needed.
Get a no collateral Education Loan
Documents Required for Bank of Maharashtra Education Loan
| Document Category | Documents Required |
|---|---|
| Student's Documents | Identity Proof: Aadhaar Card, Passport, Voter's ID, Driving License, PAN Card; Age Proof: Birth Certificate, 10th Class Certificate, Passport; Address Proof: Aadhaar Card, Passport, Voter's ID, Driving License, Utility Bills; Academic Documents: 10th and 12th class mark sheets, Graduation mark sheets (if applicable), Admission letter or proof of admission, Fee structure and payment receipts; Income Proof (if employed): Salary slips, Form 16, Income Tax Returns |
| Co-borrowers Documents (if applicable) | Identity Proof: Aadhaar Card, Passport, Voter's ID, Driving License, PAN Card; Age Proof: Birth Certificate, 10th Class Certificate, Passport; Address Proof: Aadhaar Card, Passport, Voter's ID, Driving License, Utility Bills; Income Proof: Salary slips, Form 16, Income Tax Returns, Business proof (if self-employed) |
| Additional Documents | Course Details: Brochure or prospectus of the course; Fee Structure: Fee structure and payment receipts; Admission Letter: Admission letter or proof of admission; Mark Sheets: Mark sheets of previous academic years; Gap Certificate: Gap certificate (if there is a gap in education); Entrance Exam Results: Entrance exam results (if applicable) for the Bank of Maharashtra education loan college list |
| Other Requirements | Collateral Security: Collateral security may be required for loans above INR 7.5 lakh; Guarantee: Guarantee from a third party may be required in some cases; Life Insurance: A life insurance policy may be required to cover the loan amount |
Minimal Documentation. Higher Chances of Approval. Easy Online Processes. Check Your Eligibility.
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| Particulars | Details |
|---|---|
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| Approval Rate | Higher than Other Banks |
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