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Bank of Maharashtra Education Loan 2025: List of Approved Colleges

Written By
Vaishali Pandey
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Updated On:
Mar 6, 2026
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5 Minutes
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Vaishali Pandey
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Updated On:
Mar 6, 2026

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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. 

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Overview 

Feature Details
Maximum Loan Amount Up to ₹20 lakhs
Loan Tenure Up to 15 years
Interest Rate Ranges from 10.55% to 11.30%
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

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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% Nil Parent/Guardian as co-borrower
Mahabank Skill Loan Scheme Up to ₹1.5 lakhs 10.8% ● 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% ● 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

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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.

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*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

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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

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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 Technology (Indian School of Mines) Dhanbad
Indian Institute of Technology Gandhinagar Gandhinagar
Indian Institute of Technology Ropar Rupnagar
Birla Institute of Technology & Science-Pilani Pilani

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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

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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.

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How to Apply for an Education Loan in the Bank of Maharashtra

How to Apply for an Education Loan in the Bank of Maharashtra

Online Process 

  1. Navigate to the "Loans" tab on the official Bank of Maharashtra website.
  2. Click "Apply Online" after selecting "Education Loan" from the drop-down menu.
  3. Complete the online application form by entering all necessary information, such as your data, course details, and loan requirements.
  4. Upload the required files containing proof of identity, address, and income.
  5. Once you've applied, wait to hear from a bank representative.

Offline Process 

  1. Go to your local Bank of Maharashtra branch and request an application for an education loan.
  2. You must complete the application form by entering all necessary information about yourself, your course, and the loan requirements.
  3. Attach the necessary paperwork, such as identification, proof of address, and evidence of income.
  4. Send the bank agent your application.
  5. Await the bank's processing of your application and call if more information or confirmation is needed.

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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

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‍Minimal Documentation. Higher Chances of Approval. Easy Online Processes. Check Your Eligibility. 

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Particulars Details
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% Financed 100% of Fees

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FAQs About Bank of Maharashtra Education Loan College List

What is the Bank of Maharashtra Education Loan Scheme?

The Bank of Maharashtra provides education loans to students pursuing higher education in India and abroad. The loan helps cover tuition fees, examination fees, books, and other academic expenses.

Which colleges are eligible for the Bank of Maharashtra education loan?

Students admitted to recognised institutions in India or abroad can apply. This includes universities, government colleges, IITs, IIMs, NITs, and other reputed institutions.

How can I check if my college is on the Bank of Maharashtra education loan college list?

You can verify your college by visiting the official Bank of Maharashtra website or by contacting the bank’s customer service or nearest branch.

Does the Bank of Maharashtra provide education loans for all courses?

Yes, the bank offers loans for undergraduate, postgraduate, diploma, and professional courses offered by recognised institutions in India and abroad.

Can I get a Bank of Maharashtra education loan for studying abroad?

Yes, the bank provides education loans for students who have secured admission to recognised international universities or colleges.

Is there a pre-approved Bank of Maharashtra education loan college list?

Yes, the bank maintains a list of approved colleges and universities where loan approvals are usually quicker and may include better interest benefits.

What documents are required to apply for a Bank of Maharashtra education loan?

Applicants generally need admission proof, identity proof, address proof, academic records, course fee structure, passport photos, and co-borrower financial documents.

Can I get an education loan if my college is not on the Bank of Maharashtra college list?

Yes, the bank may still provide the loan, but the institution will go through additional verification before approval.

Does the Bank of Maharashtra offer education loans for private colleges?

Yes, loans are available for recognised private colleges if the course is approved by bodies such as UGC, AICTE, or other recognised authorities.

What is the maximum loan amount for a Bank of Maharashtra education loan?

The bank usually offers up to ₹10 lakhs for studies in India and up to ₹20 lakhs for studying abroad, depending on the course and institution.

Which courses are covered under the Bank of Maharashtra education loan?

The loan is available for professional, technical, medical, management, and other recognised undergraduate and postgraduate programs.

What is the interest rate for the Bank of Maharashtra education loan?

The interest rate varies based on the loan amount, course type, and institution. Concessions may be available for female students and students admitted to reputed colleges.

What is the repayment period for a Bank of Maharashtra education loan?

Repayment generally starts one year after course completion or six months after getting a job. The repayment period can extend up to 15 years.

Are there special benefits for students studying in top institutions?

Yes, students admitted to reputed institutions such as IITs, IIMs, and AIIMS may receive faster loan approvals and lower interest rates.

How can I apply for a Bank of Maharashtra education loan?

You can apply online through the bank’s official portal or visit a nearby branch with the required documents to begin the loan application process.

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About the Author

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Vaishali Pandey
Content Marketer
Check out full profile

A banker turned content marketer with expertise in growth-focused content strategies for the finance and digital sectors.  She currently drives data-backed content initiatives at Propelld, through high-impact storytelling.

Before moving into content marketing, Vaishali spent nearly a decade in banking, across their asset and lending divisions and spent almost a decade in finance. An MBA in Marketing and a writer at heart, she finally took up content marketing and now simplifies money talks for the readers.

She is also a certified digital marketer (MICA), combining data-driven insights with creative storytelling to deliver measurable business growth.

Beyond work, Vaishali is a handcrafted brand founder, avid reader, and travel & food blogger, blending creativity and strategy in everything she does.

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General Financial Information Disclaimer

This page is intended solely for general educational and informational purposes. The content presented here does not constitute financial, legal, investment, or professional advice, and should not be relied upon as such.

Education loan terms including but not limited to interest rates, loan amounts, eligibility, collateral requirements, moratorium provisions, repayment schedules, processing timelines, and approval outcomes may vary significantly based on:

Any examples, scenarios, timelines, or illustrations mentioned on this page are indicative only and are not guarantees of approval, disbursal, or identical outcomes.

Propelld operates as an RBI approved NBFC. Final decisions regarding loan sanction, pricing, documentation, and disbursal rest entirely with our lending team. 

While every effort is made to ensure accuracy and currency of information, loan policies and regulatory guidelines may change over time. Readers are strongly advised to:

By using this information, readers acknowledge that financial decisions should be made based on their individual circumstances and verified sources, and not solely on general guidance provided on this page.

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RBI & Regulatory Alignment Disclaimer

Title: Regulatory & Policy Reference Disclaimer

The education loan rules, disclosures, borrower rights, and regulatory references mentioned on this page are derived from publicly available guidelines, circulars, and notifications issued by the Reserve Bank of India (RBI), along with applicable lending regulations governing Non-Banking Financial Companies (NBFCs).

Propelld is an RBI-regulated NBFC and provides education loans in accordance with prevailing RBI norms and internal credit policies. However, final loan terms—including interest rates, sanctioned amounts, eligibility assessment, collateral or co-applicant requirements, moratorium structure, repayment schedules, and approval outcomes—are determined based on:

Any regulatory explanations, interpretations, or summaries provided on this page are indicative and simplified for general understanding. They should not be treated as a substitute for official RBI notifications, lender-issued sanction letters, or legally binding policy documents.

RBI guidelines and lending regulations are subject to change from time to time. Readers are advised to:

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