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2nd November 2015, 05:26 PM
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Join Date: Apr 2013
Re: Education Loan Subsidy in Corporation Bank

Students who want to apply for Education Loan of Corporation Bank, they have following eligibility criteria:

Student should be Indian.

Should have passed previous qualifying examination

Should have secured at least 60% marks [55% for SC/ST category] in the previous qualifying examination.

Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance test / Merit based selection process/through Management quota after completion of HSC [10+2 or equivalent]

Loan Amount
Study in India : upto Rs.10 lakhs,
Study Abroad : upto Rs. 20 lakhs

Margin:
Up to Rs. 4 lakhs : -NIL- Above Rs.4 lakhs : Studies in India
5%, Studies abroad
15% Scholarship/Assistantship to be in included in margin.

Processing Charges:
Study in India – NIL
For study abroad: Rs.2000/- refundable on availment of loan.

Corporation Bank Education Loan Interest Rate
Amt upto 4 Lakhs BR+ 1.75 11.40
Above Rs. 4 to 7.50 lakhs BR+ 2.75 12.40
Above 7.50 lakhs BR+ 2.25 11.90
Educational loans under vocational & Skill development courses BR+ 1.65 11.30


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