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Central Bank of India Cent Vidyarthi Education Loan Scheme is a term loan scheme for students for pursuing higher studies in India and Abroad.
Eligibility :
Loan Details
Coverage of expenses
Quantum
Need based finance subject to repaying capacity of the parents/students
with margin and the following ceilings:
The ceilings fixed for studies in India and abroad correspond to the limits
fixed by the RBI for treatment as priority sector lending.
No maximum celling if loan amount secured by 100% collateral security.
Margin :
Scholarship assistance to be included in margin.
Security :
As per bank rules
Male Students - MCLR+2.00%
Female SC,ST,IIT students - MCLR+1.50%
Concessions
Disbursement
Payment directly to college / hostel / mess / airlines etc. In appropriate
cases disbursement to be made to borrowers subject to satisfactory evidence.
Original receipts to be submitted.
Repayment
Repayment to commence 12 months after completion of studies or 6 months after
securing job whichever is earlier.
Maximum repayment period upto 10 years for loans upto Rs.7.50 lakh
Maximum repayment period upto 15 years for loans above Rs.7.50 lakh. Repayment
on EMI basis.
Contact Details
Corporate Office -
Central Bank of India
Chander Mukhi, Narman Point, Mumbai - 400 021
Phone : 022-6638 7777
Call Center toll free no (24 hours). 1800 22 1911
Website : visit
Click here for the nearest bank branches
Note : Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.
Tags
Central Bank of India Loans
,
Study Abroad Loan
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