Education and Career Forum

Dear friends, I want to know about the details of subsidy scheme of an education loan available in Corporation Bank? I am going to apply for an education loan in this bank. So, I want to know about the subsidy scheme first.

Subsidy is available upto a maximum amount of Rs 7.50 lacs
The Ministry of HRD has launched a scheme of interest subsidy on education loans for economically weaker section.
The scheme is available only for inland studied

Education loans that are sanctioned without any collateral security or third party gurantee are eligible for subsidy
Annual gross parental income from all sources must not exceed Rs 4.50 lacs.

0.50% concession in interest rate is provided to females.