Education and Career Forum

I want to know about the details of the education loan scheme for my CFA course in Corporation Bank. I am going to apply for CFA course, I am already graduate and I need to get an education loan for this course. Kindly let me know about Corporation Bank education loan scheme for this course.

Corporation Bank offers education loans for various courses, including the CFA (Chartered Financial Analyst) course. Here are some details of the education loan scheme for the CFA course:

Eligibility:

• Indian nationals who have secured admission to the CFA course are eligible to apply for the loan.
• The applicant must have a good academic record and meet the bank's credit requirements.

Loan Amount:

• The maximum loan amount for studies in India is up to Rs. 10 lakhs, while for studies abroad, it is up to Rs. 20 lakhs.
• The loan amount covers tuition fees, exam fees, hostel fees, and other related expenses.

Interest Rate:

The interest rate for the loan varies depending on the loan amount and the applicant's creditworthiness. It is usually in the range of 8.05% to 10.50% per annum.

Repayment:

• The repayment period for the loan is up to 15 years.
• The repayment period starts after a moratorium period of 6 months to 1 year after the completion of the course.

Collateral:

• The bank may require collateral security for education loans above Rs. 4 lakhs.
• The collateral can be in the form of a house, flat, or any other property acceptable to the bank.

You can contact your nearest Corporation Bank branch for more details and to apply for the education loan for your CFA course.