- The student should be an Indian national.
- The student should have secured admission to a higher education course in recognized institutions in India or abroad through an entrance test/ merit based selection process after completion of high school.
- Where there is no entrance test/merit based selection process and admission is purely based on the marks students previous academic performance.
- The student should be an Indian national with minimum work experience of 2 years in Government/ corporate/multinational concern.
- The minimum age of the student should be 23 years.
- Should have secured admission or intimation of final selection to Executive MBA programme of a reputed institution in India or abroad
- The student should be an Indian National
- The student should have secured admission in a course run or supported by a Ministry / Dept./ organization of the Govt. or a company / society / organization supported by National Skill Development Corporation or State Skill Missions / State Skill Corporations, preferably leading to a certificate / diploma / degree, etc. issued by a Govt. organization or an organization recognized / authorized by the Govt.
- Tuition fee
- Examination/ Library/ Laboratory fee.
- Travel expenses/ passage money for studies abroad.
- Insurance premium for student borrowers, if applicable.
- Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts.
- Purchase of books/ equipment/ instruments/ uniforms.
- Purchase of computer/laptop
- Any other expense required to complete the course - like study tours, project work, thesis, etc.
- Identity proof: PAN/ Passport/ Driver’s License/ Voter ID card or government-issued identification document.
- Education loan application form.
- Address proof: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill/ Driving License/ Aadhaar card.
- Passport
- Past academic record.
- 10th standard mark sheet
- 12th standard mark sheet
- Under graduate result (semester-wise)
- Entrance exam results (e.g. GMAT, GRE, TOEFL, etc.)
- Proof of admission: admission letter (A conditional admission letter is also applicable).
- Statement of expenses.
- Identity proof: PAN/ Passport/ Driver’s license/ Voter ID card or government-issued identification document.
- Address: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill or copy of Driving license/ Aadhaar card.
- 2 passport-size photographs.
- Bank account statement of the co-borrower/guarantor, for the last 6 months (in case of takeover of education loan).
- Salary slips for the last 3 months.
- Copy of Form 16 of the last 2 years or copy.
- Bank account statement for the last 6 months (Salary account).
- Brief statement of assets & liabilities of parent/ guardian/ other co-borrower.
- Business address proof.
- Last 2 years IT returns ( If IT Payee).
- TDS certificate (Form 16A, if applicable).
- Certificate of qualification (for C.A./ doctor and other professionals).
- Brief statement of assets & liabilities of parent/ guardian/ other co-borrower
- Bank account statement for the last 6 months.
- Online mode:
- Offline mode:
- Visit the nearby Central Bank of India branch.
- Select the scheme that suits your needs.
- Collect and submit the required documents.
- Wait for the bank's approval or denial.
Updated on: 19 Sep 2023
8 min read
The Central Bank of India is a leading public bank in India, set up on 21 December 1911. Central Bank of India, one of India's leading public sector banks, provides education loans to students seeking financial assistance for their higher education pursuits. These loans are designed to cover tuition fees, accommodation charges, exam fees, and other educational expenses, ensuring that deserving students can focus on their studies without financial stress. Central Bank of India's education loans cover a wide array of educational courses, both in India and abroad. From undergraduate and postgraduate programs to vocational and professional courses, students can receive financial support for a variety of fields.
The Central Bank of India is a leading public bank in India, set up on 21 December 1911. Central Bank of India, one of India's leading public sector banks, provides education loans to students seeking financial assistance for their higher education pursuits. These loans are designed to cover tuition fees, accommodation charges, exam fees, and other educational expenses, ensuring that deserving students can focus on their studies without financial stress. Central Bank of India's education loans cover a wide array of educational courses, both in India and abroad. From undergraduate and postgraduate programs to vocational and professional courses, students can receive financial support for a variety of fields.
Table of Content In today's competitive world, quality education is the cornerstone of personal and professional success. However, the rising costs of education can be a major hurdle for students and their families. To address this challenge and ensure that deserving students can pursue their educational aspirations, the Central Bank of India offers a range of comprehensive education loan schemes. This scheme offers education loans for studies in India and abroad Loan amount Upto INR 10 Lakh - for studies in India Up to INR 20 Lakh - for studies abroad Up to INR 2 cr - for collateral based loans Interest rate 9% - 10.30% For studies in India - 5% For studies abroad - 15% Duration of course + 1 year Repayment tenure 15 years Collateral requirement Up to INR 7.5 Lakh - no collateral required Above INR 7.5 Lakh - collateral is required Processing fees For studies in India - nil For studies abroad - 15 of the loan amount Co-applicant requirement Parents or gaurdian Eligiblity criteria: Looking For An Abroad Education Loan? Loan amount Upto INR 40 Lakh Interest rate 8-10% - 8.20% Margin money For studies in India - 5% For studies abroad - 15% Moratorium period Duration of course + 3 months Repayment tenure 8 - 12 years Collateral requirement No collateral required Processing fees Nil Eligibility criteria: Loan amount Upto INR 5000 - INR 1,50,000 Interest rate 11-10% - 11.20% Margin money 5% Repayment tenure 3 - 7 years Collateral requirement No collateral required Processing fees Nil Eligibility criteria: Education loans by the Central Bank of India cover a wide spectrum of expenses. This list of expenses include the following: The list of documents depends on your profile, your co-applicant’s profile, and any property/asset you may offer as collateral. Applicant’s documents Income proof for salaried co-applicant/guarantor Students who are interested in applying for an education loan via the Central Bank of India, must fulfil their set eligibility criteria. There are two ways through which you can apply for a loan. Visit their official website and fill the application form. Read also: The Central Bank of India offers up to INR 2 cr for secured abroad education loans. For unsecured education loans, the bank provides up tp INR 10 Lakh for studies in India and INR 20 Lakh for studies abroad. The interest rate on education loans at Central Bank of India varies from 8.10% to 10.30%. The Central Bank of India offers education loans to students who have gained admission to educational institutions. These loans come with a maximum repayment period of 15 years and a loan limit of up to 20 lakhs. There are no processing fees, and borrowers are not subjected to prepayment penalties.
Central Bank of India Education loan schemes for India and abroad
Check Your Education Loan Eligibility Apply Here
1. Cent Vidyarthi education loan scheme
Fill the form to get free expert help
2. Central Bank education loan for MBA from premier institutions
3. Cent skill loan - education loan
Expenses covered under the Central Bank of India education loan for abroad and India
Documents required for Central Bank of India education loan for abroad and India
Co-applicant’s documents
Income proof for self-employed co-applicant/guarantor
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How to apply for a Central Bank of India education loan abroad and India?
If you fail to meet the eligibility requirements set by the Central Bank of India for an education loan, there are multiple options available through both prominent public and private banks, some of which offer loans with or without collateral. Additionally, Non-Banking Financial Companies (NBFCs) can also approve loans for studying abroad within a relatively short period, typically ranging from 7 to 10 days.
One viable solution to secure an abroad education loan without any hassle is through GyanDhan, a leading education loan financing platform. We have established partnerships with an extensive network of banks and NBFCs, providing you with a wider array of loan choices to select from. To start your journey with us, check your loan eligibility and leave the rest to us!
Frequently asked questions
What is the maximum limit of education loans in the Central Bank of India?
What is the interest rate of the Central Bank of India international education loan?
What is the limit of education loans in India and abroad?
Written by
Aman Jain
Aman Jain graduated from IIT Kanpur, and currently functions as the CMO at GyanDhan. He is deeply passionate about creating equality in higher education and has directly interacted with 2 Lakh students in his 8-year-long journey.
Specializes in:
Education loan ,
Study Abroad Admissions
Reviewed by
Ankit Mehra
Ankit is the co-founder and CEO of GyanDhan. An IITK / IESE alum who previously worked at Capital One / Credit Suisse, his aim is to equalize and expand access to higher education. His interests include playing football (soccer), and basketball, trading/investing the limited money that he still has, and discussions on economics / politics.
GyanDhan is India's first education financing marketplace.
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