EDUCATION LOAN – VIDYALAKSHYAPURTI”

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Cent Vidyarthi

Students should approach the branch nearest to the place of domicile.

Central Bank of India is now offering concession in interest in education Loan Scheme. The concession in interest rates is available to new borrowers who will avail education loan from the bank w.e.f. 01.04.2007.

The bank has taken this step to make education loan scheme more customer friendly thus facilitating aspirant students to avail education loan on comfortable & affordable terms.

Further, Interest is charged monthly on simple basis during the repayment holiday/moratoriumperiod & concession of 1% in rate of interest is also allowed provided the same is serviced regularly during study period.

The insurance would cover study period as well as repayment period, he said, adding in case of any mishap, the insurance company would take care of the loan repayment rather than the aggrieved parents.


Eligibility Criteria:

Student eligibility

  • Student should be an Indian National having secured admission to Professional / Technical courses through entrance test / selection process.

Expenses considered for Loan

  • For payment of Hostel fee caution deposit, refundable deposit, admission, examination, library, laboratory, cost of books, equipments, uniforms, computer (Hypothecated). One-way air passage in case of studies abroad. Reimbursement of admission fee books airfare etc., if already incurred, within 1 month for studies in India / 6 weeks for abroad.

Maximum loan amount

  • Rs. 10 lacs for studies in India.

Margin

  • Upto Rs. 4 lacs : NIL, Above Rs. 4 lacs:In India - 5% ,Abroad - 15% Margin (scholarship may be included in margin.)

Incentive

  • 1% interest concession, if interest is serviced during study period when repayment holiday is specified for interest repayment. It should be given at the end of Financial Year i.e. 31st March.
  • Interest is calculated at simple basis during Repayment Holiday / Moratorium Period. Interest will be compounded on monthly rests from due date of first instalment.

Security

  • Upto Rs.4.00 lacs: No Security.

Rate of Interest

    As per bank rules

Repayment

    • Commences one year after completion of the course or six months after getting employment, whichever is earlier.

Check List

While applying for the loan, the borrower is required to furnish the following information/papers:

  • Loan application on Bank's format.
  • Passport size photograph
  • Proof of Address(Permanent) / ID Proof.
  • Proof of Age.
  • Proof of having secured pass marks in last qualifying examination.
  • Letter of admission in professional, technical or vocational courses.
  • Prospectus of the course wherein charges like Admission Fee, Examination Fee, Hostel Charges etc. are mentioned.
  • Details of Assets & Liabilities of parents.

Any other document/information, depending upon the case and purpose of the loan.

*(The above CHECKLIST is only illustrative, not exhaustive. For details, please contact our nearest Branch Office).

Click here to view more details about Education Loans offered by Central Bank of India.


Fill up the following form and apply for Education Loan

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Aravind Kumar
06:27 04 Jun 18
It was the most challenging but the best experience I had. All the teachers (especially Ravi Sir ) were supportive and helpful all the time. With one word they are amazing. TGC India was definitely the correct place for my career boost.Thanks to everyone, I enjoyed every single moment. Thanks for this great opportunity and the unforgettable time.
Aditya Chauhan
Aditya Chauhan
06:22 14 Jun 18
TGC Animation and Multimedia My experience with this institute and their staff was amazing. I loved the ambiance here and the way teachers deal with students was quite satisfactory. I personally liked Ashwani sir's way of teaching, he is an amazing competent teacher, frank in nature and diligent too. I would recommend this institute to anyone looking for web design course.
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sarika singh
09:40 13 Jun 18
Very helpful, friendly and supporting atmosphere there. We had Very motivating trainer. Good teaching skills, we were provided notes and made to give test very regular. We Learned everything with joy. I want to recommend TGC Animation to all of you if you wish to learn python programming language in Delhi.
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I have a wonderful experience in TGC has great environment and support faculty. I had done graphic design From TGC Animation. Faculties was also very supportive.
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Abhishek Inderyas
09:04 19 Apr 18
I have done graphic Designing course from TGC Multimedia and Animation. My experience has been very descent and great with the faculty as well as the teacher coordinator - Mr Zakir sir. He has guided me all along this way towards the new beginning the field of designing. I would suggest all who are interested to pursue their dreams seriously, must attend TGC for best guidance and teaching.
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