Education and Career Forum

Hello everyone, can anyone of you please let me know about the moratorium period which is available in Corporation Bank in an education loan scheme? I am going to apply an education loan in this bank for my further study. Please help me to know about this.

Originally Posted by Unregistered

Hello everyone, can anyone of you please let me know about the moratorium period which is available in Corporation Bank in an education loan scheme? I am going to apply an education loan in this bank for my further study. Please help me to know about this.

The moratorium period / repayment holiday is the course period + 1 year in Corporation Bank education loan scheme. The repayment tenure is 15 years, irrespective of the education loan amount in Corporation Bank. Students should have secured at least 60% marks in the previous qualifying examinations for getting education loan in Corporation Bank. Students should have secured admission through entrance test or merit based selection process or management quota for availing Corporation Bank education loan. Corporation Bank education loan website link is given Click Here

The moratorium period under Corporation Bank Education Loan Scheme is Course Period plus one year. You can repay the loan amount in 15 years. You should have secured admission in higher education course through merit basis selection process/ entrance examination and you should have secured at least 60% (55% for SC/ ST) marks in the previous qualifying examination. The maximum amount of loan offered for studies in India is Rs. 10 lakhs and for studies in Abroad is Rs. 20 lakhs.

The moratorium period for courses which span more than 1 year is the course period plus 12 months. Step-up EMI and balloon payment options are available for repayment of vocational education and training loans. A loan of up to Rs. 50,000 has to be paid within 3 years after the moratorium period.