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Central Bank Education Loan
Posted Date: 05 Jun 2008 Resource Type: Articles/Knowledge Sharing Category: Educational Loans
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Posted By: Lenin Member Level: Diamond
Rating:  Points: 1
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Central Bank Education Loan
CENT Vidyarthi Education Loan
Objective
The scheme aims at providing financial assistance on reasonable terms :
(1) To the poor and needy to undertake basic education.
(2) To the student/employed persons to pursue higher education
Eligibility:
Studies in India :
(1) School education including plus 2 stages.
(2) Graduation courses - B.A., B.Com., B.Sc. etc
(3) Post Graduation courses - Masters & Ph.D.
(4) Professional courses - Engineering, Medical, Agriculture, Veterinary, Law,
(5) Dental, Management, Computer etc.
(6) Computer Certificate course of reputed institutions accredited to
(7) Department of Electronics or Institutions affiliated to University.
(8) Courses like ICWA, CA, CFA, etc.
(9) Courses conducted by IIM, IIT, IISc, XLRI, NIFT etc.
(10)Courses offered in India by reputed Foreign Universities.
(11) Evening courses of approved institutions.
(12) Other courses leading to Diploma/Degree etc. conducted by Colleges/Universities approved by UGC/Govt./AICTE/ICMR etc.
(13) Courses offered by National Institutes and other reputed private institutions. Any other institution courses depending on future prospects/recognition by user institutions deemed proper by the Bank.
Studies Abroad :
(1) Graduation : For job oriented professional/technical courses offered by reputed Universities.
(2) Post Graduation : MCA, MBA, MS. etc.
(3) Courses conducted by Chartered Institute of Management Accountants (CIMA) - London, Chartered Public Accountant (CPA) - USA etc.
Students Eligibility
(1) Should be an Indian National.
(2) Student should be in the age group of 16 to 40 yrs
(3) Secured admission to Professional/Technical courses through Entrance Test/Selection Process.
(4) Secured admission to Foreign University/Institutions.
Quantum of Finance
Need based finance subject to repaying capacity of the parents/students with margin and the following ceilings:
Studies in India - Maximum Rs. 7.50 lacs
Studies Abroad - Maximum Rs. 15.00 lacs
Margin
Upto Rs. 4 lacs - No margin
Above Rs. 4 Lakhs In India 5%
Security
Upto Rs.4 Lakhs: No security .Only to take co-obligation of either or both parents/guardian
Above Rs.4 Lakhs and upto Rs 7.50 Lakhs: Collateral in the form of satisfacfactory third party guarantee
Above Rs.7.50 Lakhs: Collateral security of suitable value or co-obligation of parents/ guardians/ third party along with the assignment of future income of the student for payment of installments
Abroad 15%
For more details, visit http://www.centralbankofindia.co.in/english/loan_vidyarthi.asp
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Responses
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| Author: Lenin 05 Jun 2008 | Member Level: Diamond Points : 2 | Hi viewers , this is the information i read in the paper, and also from hand bills and i gave the link to the bank itself.
If you find anything uncomfortable, pls ping me immediately
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