- What is the rate of interest of the Corporation Bank education loan to study abroad?
- What is the margin money on the Corporation Bank education loan?
- What is the maximum loan amount that can be taken in the Corporation Bank education loan?
- What is the repayment period of the Corporation Bank education loan?
- What are the documents required for a Corporation Bank education loan?
- At what locations in India can a student avail of a Corporation Bank education loan?
- Is the Corporation Bank education loan available for all types of degrees and disciplines?
- How can GyanDhan help?
- Address proof: Voter ID, passport, aadhar card, etc.
- Academic record: 10th/12th mark sheet for undergrad students and graduation degree & mark sheet for PG students.
- Age proof
- Family income proof: salary certificate, ITR, pension certificate of the guardian.
- Community certificate
- Admission certificate or I20
- Fee details proof
- Collateral documents (if applicable): valuation certificate, registry documents, LIC policy, etc.
- An affidavit declaring that no education loan is taken from any other bank by the student and parent.
Updated on: 04 Sep 2023
5 min read
Founded in 1906, Corporation Bank was one of the major public sector banks in India. In 2020, Corporation Bank merged with the Union Bank of India. All the customers of the bank were transferred to the Union Bank of India and Corporation Bank effectively ceased its independent operations on 01 April 2020. Corporation Bank education loan as an independent product was also closed. If you want to apply to Corporation Bank study loans, you can check the Union Bank of India education loans.
Founded in 1906, Corporation Bank was one of the major public sector banks in India. In 2020, Corporation Bank merged with the Union Bank of India. All the customers of the bank were transferred to the Union Bank of India and Corporation Bank effectively ceased its independent operations on 01 April 2020. Corporation Bank education loan as an independent product was also closed. If you want to apply to Corporation Bank study loans, you can check the Union Bank of India education loans.
Table of Content To make it easy for you, let's explore all the features and details of the current education loan product. Applicants can get an education loan at a fixed rate of interest of 12.25% p.a. for loans of more than INR 7.5 Lakhs. For loan amount less than INR 7.5 Lakhs, the interest rate is 12.00% p.a. Females can also get a concession of 0.50% p.a. on the interest rate. There is no margin money required for the study loans up to INR 4 Lakhs. For more than INR 4 Lakhs, the margin money that the applicant has to pay from his/her side is 15%. The bank provides the loan amount on the basis of applicants’ needs. Corporation Bank Education Loan Details Maximum Loan amount For Indian Residents: No upper limit (need-based) Loan Tenure Up to 15 Years Interest Rate Up to Rs.7.50 lakhs: 12.25% p.a. Moratorium Period Course period + 1 year Margin Money Up to INR 4 Lakhs- Nil Processing Fees NIL Repayment of Corporation Bank education loan can be started either 1 year after the completion of the course. The maximum tenure for the loan repayment can be up to 15 years. Fill the form to get free expert help Students can apply for a Corporation Bank loan for abroad education at any branch in or in proximity to his/her place of domicile. Read Also: Is the Corporation Bank education loan available for all types of degrees and disciplines? Corporation Bank offers education loans for diploma courses, undergraduate courses, and postgraduate courses which provide professional and technical degrees in India and abroad. Those who are looking for an abroad education loan should get in touch with GyanDhan. We have partnered with top education loan lenders in India, including public-sector banks- SBI & BOB, private banks- ICICI Bank & Axis Bank and NBFCs- HDFC Credila to offer the best deals on education loans to study abroad. Study abroad aspirants can check their loan eligibility and see if they are eligible for an abroad education loan via GyanDhan. Our expert education loan counselor will call you and understand your requirements in detail and will suggest the best loan options!
Check Your Education Loan Eligibility Apply Here
What is the rate of interest of the Corporation Bank education loan to study abroad?
What is the margin money on the Corporation Bank education loan?
What is the maximum loan amount that can be taken in the Corporation Bank education loan?
For NRIs: Up to INR 30 Lakhs
Above Rs.7.50 lakhs: 12.00% p.a.
Additional 0.50% concession for female students
For more than INR 4 Lakhs- 15% for studying abroad and 5% for Indian college/university
What is the repayment period of the Corporation Bank education loan?
Need an abroad education loan?
What are the documents required for a Corporation Bank education loan?
Check Your Education Loan Eligibility Apply Here
At what locations in India can a student avail of a Corporation Bank education loan?
How can GyanDhan help?
Written by
Rahul
A vampire hunter, a renowned archaeologist, and an Oscar-winning filmmaker... Rahul is none of them. He is just a curious soul whose interest in education and finance sectors goes beyond his journalism degree and the monthly salary.
Reviewed 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
GyanDhan is India's first education financing marketplace.
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