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February 4th, 2016, 11:07 AM
Super Moderator
 
Join Date: Mar 2012
Re: Central Bank Education Loan

Central Bank of India, a government-owned bank, is one of the oldest and largest commercial banks in India.

Special Education Loan Scheme to IIM Students

Purpose of Loan


Concessions/relaxations permitted to students of IIMs and 4 Reputed Institutions.
Eligibility

Students admitted to IIMs through the Common Admission Test (CAT) and pursuing two year full time management course. The scheme is also applicable to students pursuing full time regular management course (through XAT/CAT) in the four reputed institutes.

The scheme is not applicable for any part time courses or one year courses

Quantum of finance

Rs.20.00 lakh. More than 20 lacs is allowed provided 100% liquid collateral equal to loan amount given.

Margin
Nil

Security:

No collateral Security.
No third party guarantee.
Assignment of future income of the student. Salary to be routed through account maintained with our branch.

Rate of Interest


Male students without joint borrower: Base Rate + 0.50%
Male students with joint borrower: Base Rate
Female/SC/ST/Minority Community students: Base Rate

Expenses considered for loan

Fee payable to college/ school/ hostel.
Examination/ Library/ Laboratory fee.
Travel expenses
Insurance premium for student borrower, if applicable.
Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts.
Purchase of books/ equipments/ instruments/ uniforms.
Purchase of computer at reasonable cost, if required for completion of the course.
Any other expense required to complete the course - like study tours, project work, thesis, etc.
Visit to foreign universities in Exchange Programme.
Living Expenses upto Rs.120000/- p.a. on declaration basis.

Contact:

Central Bank of India
Chander Mukhi, Nariman Point
Mumbai – 400 021
Tel.: 022 – 6638 7777

Call Center Toll Free No ( 24 hours ) .-1800 200 1911


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