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| COMPARE : EDUCATION LOANS |
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| Corporation Bank Education Loan |
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| Introduction |
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| Corporation bank Corp Vidya education loan scheme aims to provide funds to the students who seek for higher studies in India and abroad. Bank offers loan to Indian students who have secured admission to professional / technical courses in India or abroad through entrance test or merit based selection process. |
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| Highlights |
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Study Abroad |
Study India |
| Course |
Graduation |
Graduation |
| Loan Type |
Term Loan |
Term Loan |
| Loan Purpose |
The loan is provided for
Graduation: For job oriented Professional/Technical courses offered by reputed Universities .
Post Graduation: MCA, MBA, MS etc.
Course conducted by CIMA- London, CPA in USA etc.
Degree/Diploma courses like aeronautical, pilot training, shipping etc provided these are recognized by competent regulatory bodies in India/Abroad for the purpose of employment in India/Abroad.
Diploma courses for study abroad is not permitted. However, PG diploma courses for study abroad is permitted.
Research course/Ph.D courses for study abroad are not eligible for loan under the scheme. |
The loan is provided for
Approved courses leading to Graduate/Post Graduate Degree, Diploma and PG Diplomas conducted by recognized Colleges/Universities recognized by UGC/Govt/AICTE/AIBMS/ICMR etc..
Courses like ICWA, CA/integrated CA -on virtual /video mode , CFA,etc..
Courses conducted by IIMs, IITs, IISc, XLRI, NIFT, NID etc.
Regular Degree/Diploma courses like Aeronautical, Pilot training, Shipping etc., approved by Director General of Civil Aviation/ Shipping , if the course is pursued in India.
In case of the Aircraft Maintenance Engineering /Pre Sea training courses must be either a Degree course recognized by a competent University or Diploma course recognized by appropriate State Body to be eligible for loan.
Research course/Ph.D courses for study in India are not eligible for loan under the scheme.
Approved Courses offered in India by reputed Foreign Universities.
Teachers training /Nursing/B.Ed courses provided the training institutions are approved either by Central Govt or by State Govt and such courses should lead to Degree or Diploma course and not to Certificate course.
Employment oriented courses like Teachers training courses and 3 year technical diploma courses in polytechnic institutions after completion of 10th standard are also eligible provided they are offered by approved/recognized college/institutions.
Correspondence courses/Part time /Certificate/Short duration /Vocational / skill development study courses , off-campus courses and On-site/Partnership programme are not eligible for loan under the scheme. |
| Loan Amount |
Min. - Rs 50000
Max. - Rs 2000000
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Min. - Rs 50000
Max. - Rs 1000000
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| Margin Money |
Upto Rs. 4 lakh - Nil
Above Rs. 4 lakh - 15%
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Upto Rs. 4 lakh - Nil
Above Rs. 4 lakh - 5%
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| Tenure |
Min. - 10 Yrs.
Max. - 15 Yrs.
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Min. - 10 Yrs.
Max. - 15 Yrs.
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| Interest Rate |
Up to Rs. 4.00 lakhs : 11.85%
Above Rs.4 lacs & upto Rs.7.50 lakhs : 12.85%
Above Rs.7.50 lakhs : 12.35%
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Up to Rs. 4.00 lakhs : 11.85%
Above Rs.4 lacs & upto Rs.7.50 lakhs : 12.85%
Above Rs.7.50 lakhs : 12.35%
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| Time to Process Loan |
7 days |
7 days |
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 Fees & charges
Fees & charges
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Study Abroad |
Study India |
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| Comment on Charges |
Processing Fees:
Rs. 2000 |
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Eligibility Criteria
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Eligibility Criteria
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Study Abroad
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Study Abroad:
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| Age |
Min.: 16 Yrs. Max.: 35 Yrs. |
| Documents Required: |
| ID Proof |
Yes |
| Age Proof |
Yes |
| Residence Proof |
Yes |
| Income Proof |
Yes |
| Telephone |
Yes |
| Photograph |
Yes |
| Bank Statement |
Yes |
| Signature Proof |
Yes |
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Study India
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Study India:
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| Age |
Min.: 16 Yrs. Max.: 35 Yrs. |
| Documents Required: |
| ID Proof |
Yes |
| Age Proof |
Yes |
| Residence Proof |
Yes |
| Income Proof |
No |
| Telephone |
Yes |
| Photograph |
Yes |
| Bank Statement |
Yes |
| Signature Proof |
Yes |
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Security
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Security |
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Up to Rs. 4.00 Lakh : Co-obligation of Parent/s, Grand Parent/s ( if parents are deceased). No other security.
* Above Rs. 4.00 Lakh & up to Rs. 7.50 Lakh : Co obligation of Parent/s Grand Parent/s (if parents are deceased) together with collateral in the form of suitable third party guarantee.
* Above Rs. 7.50 Lakh : Co-obligation of Parents/Grand Parents ( if Parents are deceased) together with tangible collateral security along with the assignment of future income of the student for payment of instalments. The loan to be fully secured after maintaining prescribed margin on respective securities.
* In case of married person, co obligant can be either spouse, or the parents or parents -in-law. |
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Terms & Conditions
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Terms & Conditions |
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Repayment holiday is course period + 1 year OR 6 months after getting the job whichever is earlier. |
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