2022 2023 EduVark > Education Discussion > Banks Related


  #2  
November 13th, 2019, 10:18 AM
Unregistered
Guest User
 
Re: Education Loan Rate Central Bank of India

Can you tell me about the interest rate charged for Education Loan - Cent Vidyarthi – offered by CBI (Central Bank of India)?
  #3  
November 13th, 2019, 10:19 AM
Super Moderator
 
Join Date: Oct 2019
Re: Education Loan Rate Central Bank of India

Education Loan - Cent Vidyarthi - offered by CBI (Central Bank of India) is for pursuing higher studies, in India & Abroad


Eligibility

One should be an Indian National.

One should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent).

Where there is no entrance test/merit based selection process and admission is purely based on the marks scored in qualifying exams, one should have scored minimum 50% marks in qualifying exam. (10% relaxation for SC/ST categories)


Maximum Loan Amount
Rs. 10 lakh for studies in India
Rs. 20 lakh for studies abroad
The ceilings fixed for studies in India and abroad correspond to the limits fixed by the RBI for treatment as priority sector lending.
No maximum celling if loan amount secured by 100% collateral security.


Margin
Upto Rs. 4 lacs: Nil
In India above Rs. 4 lacs: - 5%
In Abroad above Rs. 4 lacs: - 15% Margin (Scholarship may be included in margin)


Rate of Interest
Type of Borrower Rate of interest
Male Students MCLR+2.00%
Female SC,ST,IIT students MCLR+1.50%


Disbursement
Payment directly to college / hostel / mess / airlines etc
In appropriate cases disbursement to be made to borrowers subject to satisfactory evidence.
Original receipts need to be submitted


Repayment
Repayment to commence 12 months after completion of studies or 6 months after securing job whichever is earlier.
Maximum repayment period up to 10 years for loans up to Rs.7.50 lakh
Maximum repayment period up to 15 years for loans above Rs.7.50 lakh
Repayment on EMI basis


Quick Reply
Your Username: Click here to log in

Message:
Options



All times are GMT +5.5. The time now is 12:18 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2022, vBulletin Solutions, Inc.
Content Relevant URLs by vBSEO 3.6.0

1 2 3 4 5 6 7 8