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Education Bank Loan in India : Central Bank Of India

The education loan offered by Central Bank of India is also known as Cent Vidyarthi Loan. It is offered to meritorious students willing to pursue their higher education in India or abroad. Central Bank of India established in the year 1911 was regarded as the first commercial bank of India entirely managed and owned by Indians. Being the first Swadeshi Bank of India, it was nationalized in the year 1969.

Cent Vidyarthi Scheme



  • Student should have Indian nationality.
  • Age group is in between 16 - 40 years.
  • Must take secured admission to technical and professional courses through entrance exam or merit based selection process.
  • Take secured admission to the foreign institutes or universities.


  • Studies in the India:
    • School education +2 stages.
    • Graduation courses : B. Sc, B.Com, BA etc
    • Masters & PhD are the post graduation courses.
    • Professional courses : Agriculture, Medical, Engineering, Law, Veterinary, Management, Dental, Computer etc
    • Computer courses of famous institutes qualified by Dept. of Electronics.
    • Courses such as CFA, CA, ICWA, etc
    • All the courses arranged by IIT, IIM, IISc, NIFT, XLRI etc
    • All the courses conducted in India which is offered by foreign universities, national institutes and some private institutes.
    • Approved university's evening courses.
    • Diploma or degree courses managed by universities or colleges approved by government, UGC, AIBMS, AICTE, ICMR etc
  • Studies in abroad:
    • Graduation courses which are job oriented and other technical or professional courses.
    • MS, MBA, MS etc such post graduation courses.
    • Courses conducted by CPA - USA, CIMA- London, etc.

Details of Loan

Exposure of expenses:

  • Fees payable to the school, college or hostel
  • Laboratory, Examination, or Library fee
  • Fees required for purchasing equipments, books, uniforms or instruments.
  • Building funds, caution deposit, or the deposit which is refundable supported by the institution receipts or bills.
  • Passage money or travel expenses for those studies in abroad.
  • Buy the computers which are useful for the course.
  • Other expenses required for completion of course such as study tours, thesis, project work, etc.


  • The maximum amount is Rs. 7.5 lakhs for the studies in the India.
  • The maximum amount is Rs. 15 lakhs for the studies in Abroad.


  • There is no any margin on the loan up to Rs 4 lakh
  • The margin on loans greater than Rs 4 lacs are 5 percent for students in India and 15 percent for the students in Abroad.

Scholarship is included in margin. It can bring in yearly basis and when repayment is made on basis of pro rata.


  • No security is required on loan up to Rs.4 lakh only co-obligant is required either parents or guardian or both.
  • Collateral security in form of guarantee of third party is needed when loan amount is greater than Rs. 4 lakh.
  • For loan greater than Rs.7.5 lakh, collateral security of suitable value is required or co-obligant such as parents, guardians or the third party with assignment of the student's future income.


  • If interest is serviced at the time of study period then concession on interest is 1 percent.
  • At the time of repayment or the moratorium period, interest is charged monthly, quarterly on simple interest.


The period of repayment started after completion of course plus 1 year or after the six months from getting job, whichever becomes earlier.

Details & Contact

Corporate Office
Chander Mukhi,
Nariman Point,
Mumbai 400 021
Phone - (022) 6638 7777
Website -

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