Education loans - Central Bank of India

Purpose of Loan


For pursuing higher studies, in India & Abroad


  • Student should be an Indian National having secured admission to Professional / Technical courses through entrance test / selection process.
  • Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent).
  • Where there is no entrance test/merit based selection process and admission is purely based on the marks scored in qualifying examinations, the student should have scored minimum 50% marks in qualifying examination. (10% relaxation for SC/ST categories)

Nature of Facility

Term Loan

Calculation of Eligible Loan Amount

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
  • Rs. 20 lacs for studies Abroad

Read: SBI education loans


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

Rate of Interest

 Cent Vidyarthi – Education Loan
(Irrespective of Amount of Loan and Place of study i.e. India or Abroad)
Rate of InterestProcessing Charges



SC, ST, & IIT Students 





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. 


Payment directly to college / hostel / mess / airlines etc. In appropriate cases disbursement to be made to borrowers subject to satisfactory evidence. Original receipts to be submitted.


Repayment to commence 12 months after completion of studies or 6 months after securing jobs whichever is earlier. 

  • Maximum repayment period upto 10 years for loans upto Rs.7.50 lakh
  • Maximum repayment period upto 15 years for loans above Rs.7.50 lakh.
  • Repayment on EMI basis.

Read: Oriental Bank of Commerce education loans


Upto Rs.4 Lakhs: Co-obligation of parents/ guardian/ parent-in-law/spouse 

Above Rs. 4 lakhs and up to Rs.7.50 lakhs:

Co-obligation of parents/ guardian/ parent-in–law/spouse together with collateral security in the form of suitable third party guarantee.
Above Rs.7.50 lakhs: Co-obligation of parents / guardian / parent-in–law / spouse together with tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments.

Processing Charges

No Processing Fees 

For details, click here