#1
February 4th, 2016, 11:06 AM
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Central Bank Education Loan
I have completed UG degree and now planning to join IIM for my further studies want to take education loan for further studies. Will you please provide me details of Central Bank of India Education Loan and tell me loan interest rate along with the Expenses considered for loan?
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#2
February 4th, 2016, 11:07 AM
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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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