Looking for an Education Loan from Central Bank of India?

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Education Loans from Central Bank of India

Being one of the oldest and largest public sector banks in India, Central Bank of India offers a wide range of financial products such as education loans to its customers. Central Bank of India offers four different education loan products, each for a particular student group or purpose.

The four education loans from Central Bank of India are:

  1. Cent Vidyarthi Education Loan Scheme for Pursuing Higher Studies in India and Abroad
  2. Cent Vidyarthi for Executive MBA
  3. Cent Vidyarthi – IIMs and 4 Reputed Institutes
  4. Cent Skill Loan Scheme for Technical Education

In addition, the bank offers three Government of India Interest Subsidy Schemes on education loans for meritorious and deserving students so that poverty does not stop them from pursuing higher education. These three schemes are:

  1. Central Scheme of Interest Subsidy for Education Loans to Students Belonging to Economically Weaker Section
  2. Padho Pardesh: Interest Subsidy on education Loans for Overseas Studies Belonging to the Minority Communities
  3. Dr. Ambedkar Central Scheme of Interest Subsidy on Educational Loans for Overseas Studies for OBC and EBC

We give you a brief intro to each below. If you need more information, you have the option to click further and read in detail about each loan on a specific page of its own. This specific page has been made specifically for you to get all the information you need on that study loan in an uncluttered and easy-to-read format.

Central Bank of India Cent Vidyarthi Education Loan Scheme for Pursuing Higher Studies in India and Abroad

This loan helps students who want to pursue higher studies in India and abroad to afford the cost of the course and related expenses. Students can avail a loan of Rs. 10 lakh and Rs. 20 lakh to pursue higher education in India and abroad respectively.

Features of Cent Vidyarthi Education Loan Scheme

Why this Loan?

  • The loan is meant for you if you want to pursue higher education inland or abroad
  • The bank disburses this loan as a series of payments over the required number of terms or years to pay the fees or other approved charges
  • The loan can be availed for all institution fees as well as related expenses including purchase of books, laptops, hostel fees, lab fees, examination fees, etc. In short, all expenses required to complete the course undertaken can be met with this Central Bank of India Cent Vidyarthi Education Loan Scheme

Central Bank of India Cent Vidyarthi Executive MBA Education Loan

 This loan is designed to help students who have gained admission into the Executive MBA programme at a premier institute finance their education. The maximum loan amount is capped at Rs. 20 lakh for unsecured loans whereas a borrower can get a higher loan amount by providing 100% liquid collateral of equal value.

Features of Cent Vidyarthi Executive MBA Education Loan Scheme

Why this Scheme?

  • The loan is meant for you if you have gained admission into an Executive MBA program from a premier institute in India
  • Central Bank of India is offering a higher loan amount as compared to other banks. The quantum of loan can go up to Rs. 20 lakh. It can be increased by submitting a collateral worth 100% or higher in value than the loan amount
  • The bank disburses this Cent Vidyarthi Executive MBA Education Loan Scheme as a series of payments over the required number of terms or years to pay the fees or other approved charges

Central Bank of India Cent Vidyarthi – IIMs and 4 Reputed Institute Education Loan

This loan helps students who have gained admission into one of the chosen IIMs or other premier institutes to pay for their course fees. The maximum loan amount that you can apply for is Rs. 30 lakh.

Features of Cent Vidyarthi – IIMs and 4 Reputed Institutes Education Loan Scheme

Why this Scheme?

  • This loan scheme is meant for you if you have gained admission into one of the IIMs or 4 premier institutes in India
  • The bank disburses it as a series of payments over the required number of terms or years to pay the course fees or other approved charges. The institutes include the 17 IIMs and the four premier institutes of XLRI Jamshedpur and Bhubaneswar, SP Jain Institute of Management and Research in Mumbai and Management Development Institute in Gurgaon
  • The quantum of the Cent Vidyarthi IIMs and 4 Premier Institutes Education Loan can go up to Rs. 30 lakh

Central Bank of India Cent Skill Loan Scheme

This loan helps students who have gained admission into technical courses offered by ITIs, polytechnics, etc. to pay for their course fees. The loan amount starts from Rs. 5,000 and can go up to Rs. 1.5 lakh depending on the duration of the course.

Features of Cent Skill Loan Scheme for Technical Courses

Why this Loan?

  • The loan is meant for you if you have gained admission into a technical course offered by a polytechnic, Industrial Training Institute (ITI), government-accredited training centres, etc. in India
  • The bank disburses the Cent Skill Loan as a series of payments over the required number of terms or years to pay the course fees or other approved charges
  • There is no minimum course duration to apply for this Cent Skill Loan

Reference Facts

  • Central Bank of India Website: www.centralbankofindia.co.in and www.centralbank.net.in (net banking)
  • Headquarters: Mumbai, Maharashtra
  • Call Centre Toll-Free Number: 1800 22 1911, 1800 110 001, 1800 180 1111