Central Bank Of India Education Loan Interest

Will you please let me know interest rates on Cent Vidyarthi education loan offer by Central Bank Of India and also let me know further information?

[pawan]

No need to worry I will tell you details of Central Bank Of India, Cent Vidyarthi education loan and will also let you know interest rates.

Eligibility
The student should be an Indian National.

Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent).

Where there is no entrance test/merit based selection process and admission is purely based on the marks scored in qualifying examinations, the student should have scored minimum 50% marks in qualifying examination. (10% relaxation for SC/ST categories)

Expenses considered for loan
Fee payable to college/ school/ hostel

Examination/ Library/ Laboratory fee

Travel expenses/ passage money for studies abroad

Insurance premium for student borrower, if applicable

Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts.

Purchase of books/ equipment's/ instruments/ uniforms

Purchase of computer at reasonable cost, if required for completion of the course

Any other expense required to complete the course - like study tours, project work, thesis, etc.

While computing loan required, scholarships, fee waiver etc., if any available to the student borrower may be taken into account

Maximum loan amount
Rs. 10 lakh for studies in India.
Rs. 20 lakh for studies abroad.
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
Upto Rs. 4 lacs: NIL,
In India Above Rs. 4 lacs: - 5% ,
In Abroad Above Rs. 4 lacs: - 15% Margin
(Scholarship may be included in margin.)

Rate of Interest
Male Students
MCLR+2.00%

Female SC,ST,IIT students
MCLR+1.50%

Address:-
Central Bank Of India
Chander Mukhi, Nariman Point
Mumbai