#1
January 15th, 2016, 09:52 AM
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Corporation Bank Education Loan Interest Rate
Hi I am planning to avail an education loan for pursuing higher studies and would like to know the rate of interest levied by Corporation Bank?
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#2
January 15th, 2016, 10:50 AM
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Re: Corporation Bank Education Loan Interest Rate
Corporation Bank provides education loans to Indian Students to meet expenses related to pursuing studies in India and abroad under the Corp Vidya Scheme. Corp Vidya Scheme Details: Eligibility Student must be an Indian national. Must have passed previous qualifying examination. Must have secured at least 60% marks [ 55% for student belonging to SC/ST category ] in the previous qualifying examination. Must have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance test / Merit based selection process/through Management quota after completion of HSC [10+2 or equivalent]. Loan Amount: Study in India – upto Rs.10 lakhs, Study Abroad : upto Rs. 20 lakhs Margin for Loan: Loan up to Rs. Four lakhs : Nil Loan above Rs. Four lakhs: Studies in India: 5% , Studies Abroad: 15% Rate of Interest: Floating rate of interest is connected to the Base Rate & subject to revision from time to time. Simple interest will be levied during repayment holiday period. Present BASE RATE is 9.65% p.a. from 08.10.2015 SCHEME BR + Spread ROI % CORP VIDYA Amt upto 4 Lakhs BR+ 1.75 11.40 Above Rs. 4 to 7.50 lakhs BR+ 2.75 12.40 Above 7.50 lakhs BR+ 2.25 11.90 Educational loans under vocational & Skill development courses BR+ 1.65 11.30 Contact Details: Corporation Bank Corporate Office Mangaladevi Temple Road Pandeshwar MANGALORE - 575 001 Karnataka, India Tele: 91-824-2861888 Fax: 91-824-2440964 |
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