For pursuing higher studies, in India & Abroad

Rate of Interest

  • 1.Male Students-Base Rate+2.00%
  • 2. Female SC,ST & IIM/IIT students-Base Rate+1.50%

Eligibility for Educational Loan


1.The student should be an Indian National.

2.Should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or equivalent).

3.Where there is no entrance test/merit based selection process and admission is purely based on the marks scored in qualifying examinations, the student should have scored minimum 50% marks in qualifying examination. (10% relaxation for SC/ST categories).

4.However, entrance test or selection purely based on marks obtained in qualifying examination may not be the criterion for admission to some of the post graduate courses or research programmes. In such cases Branch should take into consideration the employability and reputation of the institution concerned.

Note: A meritorious student (who qualifies for a seat under merit quota) is eligible for loan under this scheme even if the student chooses to pursue a course under Management Quota.


About the Bank


Central Bank of India, a government-owned bank, is one of the oldest and largest commercial banks in India. It is based in Mumbai which is the financial capital of India and capital city of state of Maharashtra.[1] The bank has 4600 branches, 5000 ATM's and 4 extension counters across 27 Indian states and three Union Territories. At present, Central Bank of India has overseas office at Nairobi, Hong Kong and a joint venture with Bank of India, Bank of Baroda, and the Zambian government. The Zambian government holds 40 per cent stake and each of the banks has 20 per cent. Recently it has also opened a representative office at Nairobi in Kenya.


FAQ Loan


1.Do I require a life insurance policy while applying for a loan?

Yes. You need to have a comprehensive life insurance policy equivalent to the loan amount for a minimum period covering the loan term, course term and moratorium period. The insurance policy should be assigned in favour of the bank.

2.What is the disbursal mode for Central Bank of India?s education loan?

The payment will be directly disbursed to the college, mess or airlines on submission of original receipts. Only in selected cases, the disbursement will be made to the borrowers subject to suitable evidence.

3.Can I avail any interest concession on Central Bank of India education loan?

Yes. 1% interest concession is offered by the bank during the study period if the interest is serviced during the same period and moratorium period before the commencement of repayment.