#1
September 3rd, 2015, 09:48 AM
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Education Loan Rate Central Bank of India
I want to take a Education Loan from Central Bank of India and want to know the Education Loan Rate Central Bank of India. Can you tell me is there any online procedure available for applying for the Education loan at Central Bank of India?
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#2
November 13th, 2019, 09:48 AM
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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)?
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#3
November 13th, 2019, 09:49 AM
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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 |
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