Education and Career Forum

I am interested to study MBA with the help of education loan. I have heard about the Central Bank of India Educational Loan Scheme. Can anyone of you provide me the details of this particular educational loan scheme?

Originally Posted by Unregistered

I am interested to study MBA with the help of education loan. I have heard about the Central Bank of India Educational Loan Scheme. Can anyone of you provide me the details of this particular educational loan scheme?

Details of Central Bank of India Education Loan Scheme are given below:

Indian students can get an education loan for studies in India (10 Lakhs) & abroad (20 Lakhs)
Students should have secured admission through an entrance test or merit based selection process
Education loan covers the following expenses: fee payable to college, hostel, caution deposit, building fund, refundable deposit, purchase of books, equipments, instruments, uniforms, purchase of computer (necessary to complete the course), study tours, project work, etc.
No Margin up to Rs 4 Lakhs and above Rs 4 Lakhs – 5% for studies in India and 15% for studies in abroad
Maximum repayment period up to 10 years for education loans up to Rs 7.5 Lakhs
Maximum repayment period up to 15 years for education loans above Rs 7.5 Lakhs
Repayment on EMI basis
No processing or upfront charges for studies in India

Central Bank of India education loan website link is given Click Here

Details of Central Bank of India Education Loan Scheme are mentioned below :-

--> Eligibility :-
You should be an Indian National and you should have secured admission to higher education course in a recognised institution in India or Abroad through entrance test/ merit based selection process.

--> Quantum of Finance :-
For studies in India :- Rs. 10 lakhs
For studies in Abroad :- Rs. 20 lakhs

--> Margin :-
Upto Rs. 4 lakhs :- Nil
Above Rs. 4 lakhs :- 5% for studies in India and 15% for studies in Abroad.

--> Repayment Holiday :- 12 months after completion of the course or 6 months after getting a job, whichever is earlier.