Education Loan For Studying CS Course | CS Foundation, Executive and Professional. In the previous post, we have given CS Study Material for CS Foundation, Executive and Professional. Today we are providing details about education loan for studying CS course. Yesterday someone messaged me that ” Sir, is there any bank providing education loan for studying CS course”. I replied ” Yes! Canara bank providing education loan for studying CS course and the loan facility is need-based facility and a maximum of Rs. 10 lac would be allowed by the bank“. Here we are providing Canara bank education loan details for studying CS course. Read below !!
Education Loan For Studying CS Course
We wish to inform you that the Institute of Company Secretaries of India (ICSI) signed an MOU with the Canara Bank to facilitate Education Loans to the students pursuing Company Secretaryship Course. The loan scheme will mainly cover the tuition fee, purchase of books, examination fees, study tours, reasonable living expenses and laptop etc. to arrive at the total cost of the course.
The loan facility is need-based facility and a maximum of Rs. 10 lac would be allowed by the bank. The loan is given jointly to the student and parent /guardian. The repayment commences One year after completion of the course or Six months after getting employment, whichever is earlier. Students intend to avail the loan facility may visit the Canara Bank branch nearest to the place of permanent residence of the parent/guardian.
|Purpose||Payment of course fees, purchase of books, Equipment, instruments, uniform, payment of hostel fees, examination fees, study tools, passage expenses, (for study abroad)|
|Eligible courses||Graduation, post-graduation, including technical/professional courses with employment potentials conducted by colleges/universities approved by UGC/Government, AICTE/Department of Electronics/IMC, autonomous institutions like IIM, IIT, etc.|
|Studies abroad,||Job oriented technical/professional courses-(graduation/post graduation.)|
|Quantum of finance||Need-based finance|
For studies in India: maximum Rs 10.00 lakhs
For studies abroad maximum Rs 20.00 lakhs
|Margin||Upto Rs.4.00 Lakhs – Nil|
Above Rs.4.00 Lakhs – for studies in India – 5%
Studies abroad – 15%
Loan is given jointly to the student and parent/guardian
Assignment of future income of the student
Up to Rs.4.00 Lakhs – No Security
Above Rs.4.00 Lakhs up to Rs.7.50 Lakhs – Satisfactory third party guarantee
|Security||(Note: If the proposed borrower prefers to offer the collateral security of tangible assets (moveable or immoveable) instead of bringing collateral securities in the form of third party guarantee, the same may be accepted, at his request, provided the securities with stipulated margin covers 100% of the loan amount).|
Above Rs.7.50 Lakhs: Collateral security equal to 100% of the loan amount.
· Commences one year after completion of the course or six months after getting employment, whichever is earlier.
· Loan with interest is repayable in equated monthly installments as follows.
|Repayment||– Up to Rs.7.5 Lakhs – 10 years|
– Above Rs.7.5 Lakhs – 15 years
The loan can be availed from the branch nearest to the place of permanent residence of the parent/guardian.
For detailed terms & conditions, please visit https://canarabankcsis.in/olts/EduHome.aspx
Click here to see ICSI official notification about Education Loan For Studying CS Course
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