[ViJiT]

Details of education loans provided by Central Bank.

Finance for Education

Cent Vidyarthi Scheme

Purpose: Aims at bringing Education within the reach of students and help them improve their prospects in life.

Courses Approved

For pursuing Graduate/Post-Graduate, Management/Job-oriented courses, Professional Courses of recognised Universities / reputed Institutes, Computer courses conducted by NIIT, APTECH, CMC, C-DAC with duration of one year and more.

For pursuing Post-Graduate course in Science, Technology, Medicine, Engineering, Management courses, Law, Accountancy leading to Master’s degree or Post-Graduate Diploma in recognised University abroad.

Eligibility:

Should have consistent good academic record in previous examinations with marks over 60 % in 10th.& 12th or first grade in other cases.
(For SC/ST Second class will be sufficient).

Amount of Loan: India Upto Rs.7.50 lakh
Abroad Upto Rs.15 lakh

Margin: Up to Rs.4 lakh No Margin
Over Rs.4 lakh - In India 5%
Studies Abroad 15%

( Relaxation of loans upto Rs.50,000/-for SC/ST )

Rate of interest: Upto Rs.4 lakh PLR
Above Rs.4 lakh PLR + 1%