CENTRAL BANK

Eligibility :

Students pursuing general / professional courses include computer and vocational courses recognised by the Government / Universities are considered eligible for education loan to study in India and abroad, correspondence course is not considered.

The age limit of the student should be between 16 and 28 years. However the age is( relauable) for SC / ST students by 2 years.

The student should have faired well in his / her academics in previous ( examination ) . In case of SC / ST second class would be sufficient.

Loan Amount :

15% Upto Rs 1,00,000

25% Upto Rs.5,00,000

The margin is released on loans upto Rs.50,000 for SC / ST.

Interest:

12.50% Upto Rs.25,000 and 14% between Rs.25,000 and Rs.2 lakhs and above 2 lakhs (the families,whose income does not exceed Rs.12,000 p.a and fall under DRI scheme , the interest rate is 4.00%),1% relate is granted in the rate of interest of regular repayment of interest and installment and payment of insurance premium.