Education loan in Central Bank of India

Central Bank of India

In central Bank of india , the education loan is provided in the name of cent vidhyarthi for the students from  the age group of 16 till 40.

Education loan amount size:

For the students studying in India , maximum amount of upto Rs. 7,50,000 will be provided and for the students studying in abroad , maximum amount of upto Rs.15,00,000 will be provided.

Advance amount to be paid:

Nothing till 4,00,000 Rs.

More than 4,00,000 Rs.: students studying in India should pay 5% and students studying in abroad should pay 15% of the amount. Education scholarship will be added with the advance amount to be paid.

Interest rate:

For the students of IIT, IIM : B.P.L.R ., 2.50%

Other students: B.P.L.R ., 3.00%

For the girls special previliage of 3.00% will be provided.

Warranty:

No property guarantor is required till 4,00,000 Rs.

From 4,00,000 Rs. till 7,50,000 Rs: Third party’s guarantee is required.
More than 7,50,000 Rs: parents, student or the third party’s assurance on the repayment of loan is required.