Corporation Bank likes to be a partner in providing better education to your children and in turn groom them to be better citizens of tomorrow through Corp Vidya Loan Scheme

Purpose

For pursuing studies in recognised Schools/ Colleges/ Institutions in India or Abroad. Loan is available for meeting cost of:

• Tuition and other fees
  
• Maintenance costs, books and equipments etc.,
  
• Travel Expenses (for studies abroad).
  
• Caution deposit/building fund/refundable deposit.
  

Eligibility

Indian national who has successfully completed pre-requisite qualifying examination and secured admission to the course in a recognised School/ College/ Institution/ University.

Quantum

Need based finance subject to repaying capacity of the parents/ guardian/ students with a Maximum ceilings of:

• Rs. 7.50 lakhs for studies in India.
  
• Rs. 15.00 lakhs for studies Abroad.
  

Margin

• Loan Upto Rs. 4 lakhs - No margin
  
• Above Rs. 4 lakhs - 5% for studies in India
  ..........................- 15% for studies Abroad
  

Interest

• Loans upto Rs. 4 lakhs: CPLR (presently 11.5% )
  
• Above Rs. 4 lakhs :CBMTLR + 1%( presently 13.25%)
  

Interest is charged on simple basis during study period/upto commencement of repayment.

Repayment Holiday

Course Period + one year or 6 months after getting the job, whichever is earlier

Repayment

• To be repaid in 5-7 years after commencement of repayment.
• Prepayments permitted without any penalty.
  
• No service charges are levied for Corp. Vidya Loans.