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Centurion Bank of Punjab education loan - Student Loan in India

Centurion Bank of Punjab education loan Scheme

Eligibility


You are eligible if you 

  • Are a resident of India.
  • Have an offer / admission letter / are bonafide student of a college / university in India or abroad.

 Expenses Covered

The following expenses can be claimed under the scheme

  • Admission / Tuition fee to be payable to College / University / Institution.
  • Air fare / Travel Expenses.
  • Boarding and Lodging expenses.
  • Books and Stationery expenses.
  • Instruments / equipment / computer expenses required for the course undertaken.
  • Examination / Library / Laboratory fee.
  • Any other expense required to complete the course - like study tours, project work, thesis, etc.


Rate of Interest
As applicable from time to time.
 
Repayment Plan
Repayment of loan starts after studying & moratorium* period and can go up to a maximum of 7 years.
* Moratorium period is a max. of 6 months after course completion or one month after getting a job whichever is earlier.
 
Documents Required

The following papers/documents should accompany the Application Form to be executed by both the students and the parents/guardians.

  • Documents required from both the student / co-applicant.   Identity Proof : Copy of Passport / Driving License / Voters Identity Card / Income Tax Pan Card.
  • Residence Proof : Copy of Passport / Driving License / Voters Identity Card / Utility Bills
  • Age Proof : Copy of Passport / Driving License / Income Tax Pan Card / Birth Certificate.
  • Signature Verification.
  • One Singed Photograph ( On the face).

Abroad

  • Offer / Admission / Bonafide student letter from the university / college in India or Abroad.
  • Cost of the Course (including living).
  • Copy of last examination passed result.
  • Copy of Passport in case of study abroad.

Documents required from the co-applicant

  • Income Proof: Form 16 or Income tax returns for the last two years.
  • Collateral Security Papers ( if any).
  • Any other document / information as needed by Bank, depending upon the case and purpose of loan.

 
NOTE:
1. All loans are at the sole discretion of Centurion Bank of Punjab Ltd.
2. Repayment of Loan through Post Dated Cheques (PDCs).