Education and Career Forum

My father want to apply an education loan for me so that I can get admission and study BDS course. He is telling me to apply an education loan from Central Bank of India. But I am not interested to apply an education loan in this Bank. So, before applying an education loan in this bank I want to know about the benefits of applying an education loan in this bank?

Benefits of applying for Education Loan in Central Bank of India for BDS aspirant:

Low interest rate

Less paperwork

No processing fees for study in India

Faster Disbursal

Hassle-free application process

No prepayment charges

0.5% concession for female students

Originally Posted by Unregistered

My father want to apply an education loan for me so that I can get admission and study BDS course. He is telling me to apply an education loan from Central Bank of India. But I am not interested to apply an education loan in this Bank. So, before applying an education loan in this bank I want to know about the benefits of applying an education loan in this bank?

Students can get the following benefits for applying education loan under Central Bank of India:

--- Students can get up to Rs 10 Lakhs for studies in India (No maximum limit if the loan amount secured by 100% collateral security)

--- There is no margin required for education loans up to Rs 4 Lakhs. Above Rs 4 Lakhs – 5% for studies in India and 15% for studies abroad

--- Female / SC / ST / IIT students can get concession in interest rate (0.50%)

--- Moratorium Period or Repayment Holiday – 12 months after completion of the course or 6 months after securing a job whichever is earlier

--- Maximum repayment period up to 10 years for education loans up to Rs 7.50 Lakhs and up to 15 years for loans above Rs 7.50 Lakhs

--- Repayment on Equated Monthly Installments (EMIs)

--- No security required for education loans up to Rs 4 Lakhs

--- Students who have secured admission through management quota also can get an education loan

--- There is no processing fee for studies in India