Central Bank of India Education Loan Interest

You can tell me about the education loan interest of Central Bank of India because I want to take education loan from Central Bank of India so want to know about this so please tell me about this.

[Pathak]

As you are looking for the Education Loan Interest of the
Central Bank of India here I am giving you its interest rates as following:-
Interest Rate
4 Lakhs- 12.75% P.A

4 lakhs to 7.5 lakhs- 12.75% P.A

Above 7.5 lakh – 12.75% P.A

For female candidates interest rate - 12.25%.

I am a student of IIM. I want to get information about the Central Bank of India Education Loan Interest. So here can you provide me information about it?

[sumit]

If you want to know Central Bank of India Education Loan Interest for you than here I am telling you about it as you want.


Education Loan Scheme for IIM Students


Rate of Interest
Male students without joint borrower: Base Rate + 0.50%
Male students with joint borrower: Base Rate
Female/SC/ST/Minority Community applicants: Base Rate

Quantum of finance
Rs.20.00 lakh. More than 20 lacs is allowed provided 100% liquid collateral equal to loan amount given.

Margin
Nil

Security:
No collateral Security.
No third party guarantee.


Expenses considered for loan

Fee payable to college/ school/ hostel.

Examination/ Library/ Laboratory fee.

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.

Travel expenses

Insurance premium for student borrower, if applicable.

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

Purchase of books/ equipments/ instruments/ uniforms.