Corporation Bank Education Loan

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Corporation Bank Education Loan Summary Table

Corporation Bank Education Loan Limit	For India – INR 10 Lacs For Abroad – 20 Lacs (Up to ₹ 7.5 lakh without collateral)
Corporation Bank Education Loan Interest Rate	9.65% per annum
Corporation Bank Education Loan Margin	For loan above INR 4 Lacs In India: 5% In abroad: 15%
Corporation Bank Education Loan Processing Fee	Up to INR 4 Lacs: Nil Above INR 4 Lacs: INR 5000
Corporation Bank Education Loan Security	Up to 7.50 Lacs: Only Parent/ Guardian as co-borrower. No Collateral Security or third party guarantee.Above INR 7.50 Lacs: Tangible security along with parents as co-borrower
Corporation Bank Education Loan Repayment	Starts After 1 year of course completion or 6 months after getting a job

Corporation Bank Education Loan Features

The need for higher education from a reputed college is increasing which in result increases the chance of getting a well-paid job. However, a university with a good rank costs much higher due to its premium faculties and facilities.

To overcome this, Education Loan plays a vital role in a student’s life! Education loans help those students, who have the capabilities and potential. The loan covers their expenses for education such as tuition fees etc.

The loan can be availed to study in India or even abroad studies. Whatever the case Corporation Bank is there to help the students. Every student can apply for the Corporation Bank education loan by following the specific criteria and documentation.

Corporation Bank Education Loan Eligibility

Parameters	Eligibility Criteria
Applicant’s Age	Non-employed personnel: Up to 35 years Working employees / Executives: Up to 45 years
Who Can Apply?	An Indian National: With secured admission to professional/technical courses in recognized institutions. Permanent employees: Who are employed for not less than three years with any organization and have secured admissions in a reputed institute or who intend to acquire higher professional qualifications.
Maximum Loan Amount	For studies in India: Up to Rs. 1,000,000 For studies in Abroad: Up to Rs. 2,000,000 For studies at IIT’s, IIM’s and ISB’s: Upto Rs. 4,000,000
Frequency Of Repayment	Quarterly or monthly rests. Starts 1 year after completing the course or six months after getting a job, whichever is first. Loan interest re‐payment will start immediately after disbursement of the first installment of the loan.
Repayment Period	Tenure: Education Loan consists of Duration of Study, Grace Period after the Study, and Repayment Period. For Indian courses: Repayment tenure is a maximum of 12 years after the commencement of repayment. For Abroad courses: Repayment tenure is a maximum of 12 years after the commencement of repayment.

Corporation Bank Education Loan Interest Rate

Corporation Bank Education loan interest rates range:

Loan Amount Range	Courses in India	Courses Abroad	IIT, IIM, ISB Courses
Loans up to Rs. 4 lakh	10.90 %	10.90 %	0.00%
Loans Rs. 4.0 – 7.5 lakh	10.90 %	10.90 %	0.00%
Loans > Rs. 7.5 lakh	11.25 %	11.25 %	0.00%

Corporation Bank Education Loan Schemes with detailed features, documents, max loan, courses

Schemes	Maximum Loan Amount	Interest Rates
Corporation Bank Student Loan	Rs.20 lakh	10.05%
Corporation Bank Scholar Loan	Rs.40 lakh	8.95% to 9.25%
Corporation Bank Global ED-Vantage	Rs.1.5 crore	10.05%
Corporation Bank Skill Loan	Rs.1.5 lakh	9.55%
Corporation Bank Take Over of Education Loan	Rs.1.5 crore	10.05%

Corporation Bank Education Loan Documents Required

Under Know Your Customer Policy (KYC), the bank requires certain documents.

These documents are required from both the student and co-borrower:

Identity Proof	One of any mentioned document for Identity proof: Passport PAN Card Aadhaar Card Voter’s ID Card Driving Licence Photo Credit Card Central and State Govt. issued Photo ID Proof Defence ID Card.
Residence Proof	One of the following documents for Residence proof (It should not more than 3 months old): Aadhaar Card Ration Card Passport Bank Account Statement Voter’s ID Card Letter from any recognized public authority Telephone Bill Electricity Bill Water Bill
Income Proof in case of salaried co-borrower	Salary Slips (not more than 3 months old) Bank Statements (not more than 3 months old) ITR Form-16 (for the last 2 years) bank account statement (for the last 6 months of salary account)
Income proof for self-employed co-applicant	Business address proof IT returns for the last two years (If IT payee) TDS certificate Form 16A if applicable Certificate of qualification (for CA, doctor, and other professions) Bank account statement for the last 6 months.

Additional documents: Aside from KYC documents:

Student Applicant	Mandatory Passport submission
	Academic Records: X, XII grade results. Graduation results semester wise. Entrance Exam results that formed the basis of admission
	Proof of admission: A conditional application letter may be considered
	Cost of education, schedule of expenses.
	2-passport size photographs
	If the loan was taken out before then loan account statement for the last 1 year.
Co-applicant	2-passport size photographs
Co-applicant	If the loan was taken out before then loan account statement for the last 1 year.

Corporation Bank Education Loan Offered Courses

The Education Loan covers courses that are only regular full-time Degree or Diploma courses that the student secured through selection or merit. Corporation Bank Education Loan also considers Full-time Executive Management Courses like PGPX.

EMI Calculator

Corporation Bank Education Loan EMI Calculator

Corporation Bank: Takeover of Education Loan

An Education Loan is Transferable, it is basically a process of transferring high-interest debt from one lender to another lender and with a lower interest rate and better repayment policies.

The Corporation Bank Takeover Of Collateralised Education Loans Scheme can be availed at an interest rate of 1Year MCLR + 1.50% spread. Corporation Bank also gives a 0.50% concession in the interest rate for girls.

How To Apply For Corporation Bank Education Loan

Visit Dialabank for an education loan.
Go to the Corporation Bank Education Loan page.
Check out all the eligibility and documents criteria for an education loan.
Fill out all the details required in the Education Loan application form.
Once done, our representative will soon contact you for a further stress-free process.

FAQs For Corporation Bank Education Loan

✅ In whose name is the loan granted?

The loan is specially made for a student’s education and therefore, it is granted in the name of the student.

✅ What is the age limit for availing of an education loan in Corporation Bank?

There is no age limit restriction in education loans. However, the student must clear all the eligibility criteria’s stated by the bank

✅ What does margin on any loan mean?

The margin amount means that a borrower has to pay through his/ her own income sources in form of a down payment as his/ her contribution towards the education.