- Applying Online
Like other banks in the sector, the Bank of Maharashtra has also facilitated the online application process for applicants desirous of availing Bank of Maharashtra Education Loan. The steps include:
The bank asks the applicant to provide his personal details which would be required to match the criteria which is required to be fulfilled by every individual who wants to avail of an Education Loan from the bank. If the applicant successfully matches the criterion list, the bank does not hesitate to approve and sanction the funds demanded as loan. The applicant would simply have to complete the documentation which is the next important step towards availing the funds. The online application mode of availing the loan has made taking loans both easy and transparent. The candidate can provide his details and see how the bank uses it to match the criterion. He can also check his application status to gauge how soon the funds would be available to an applicant.
Another way of online application of Bank of Maharashtra education loan is through Paisabazaar.com. This is the most hassle-free method of applying for education loan, you just need to fill up some details and click “apply”.
- Applying Through Branch
Application through the bank’s branches is also possible as the bank has a wide network of its branches to cater to every banking need of the individuals. The loan department is present in every branch and an applicant has to approach this department, inquire about the loan formalities, complete the same and the loan would be easily granted.
- Checking Loan Status
The bank takes precautions while granting a loan to an applicant. All his details are analysed and later verified to ensure adherence to the legibility criteria of the bank. This takes some time and if the applicant wants, he can check the loan application status online without having to visit the bank’s branch. The applicant needs to log on to the website of the bank and on the page of Education Loan there would be a ‘Know Your Loan Application Status’ option. Clicking this option would open a new page. The applicant should then provide the application details in that new page which would then display his loan status.