Education and Career Forum

Sir,
I want to study B.Tech(Agricultural Engineering) and I want to know about the Education Loan scheme of Central Bank of India. Please let me know what is the interest rates charges in this Bank?

Rate of Interest under Central Bank of India Education loan scheme is mentioned below :_

--> Male Students :- Base Rate + 2.00%

--> Female SC,ST & IIM/IIT students :- Base Rate + 1.50%

The Central Bank of India offer Education loan under the name of "Cent Vidyarthi" for candidates who wish to pursue higher studies in India or Abroad.

The details regarding Interest rate charges for Education loan offered by Central Bank of India are mentioned below :-

=> Male Students :- Base Rate+2.00%

=> Female SC,ST & IIM/IIT students :-Base Rate+1.50%

The Bank will give 1% interest concession on Rate of Interest on Education loan during the study period, if interest is serviced during the study period and subsequent moratorium period prior to commencement of repayment.

The rate of interest fluctuates from time to time as per orders from Reserve Bank of India and in turn government of India. This is applicable to all public sector banks. Hence, a definite rate of interest cannot be stated directly. Usually the rate of interest fluctuates in the range of 13-14.5 percent. The interest is computed as simple interest for the entire study period.