City Bank Education Loan

City bank offers personal loan to the Indian residents for various personal needs. It can also be used for the purpose of educating your child in India or abroad.

Bank Name Amount of Loan Repayment Tenure Interest Rate

20 lacs

1 - 5 years

15 - 20 %

Eligible Courses

Most of the graduation / post-graduation / diploma / technical and professional courses are covered for education under personal loan scheme of city bank.

For more details contact to the nearest branch of city bank


Expenses that can be considered for granting loan

Expenses that are considered for granting of loan to the student are given below

  • Expenses which are considered are fee which is to be paid to the school / college / university as a tuition fee / hostel fee and refundable deposits like caution money.
  • Many other important requirements for higher education like travel and passage / tours / project work fund is given to the students under personal loan scheme.
  • For current details you can contact to the nearest branch of city bank


Amount of loan granted

You can easily avail the maximum loan amount of 20 lakhs under the personal scheme which can be used for higher studies of the children as well.


Interest rates

  • Depending upon the internal parameters and background city bank does offer competitive rates for interest to the candidate who apply for personal loan (education loan)
  • 15 to 20 % per annum range of personal loan is given


Processing fee

  • A non-refundable fee submitted to the bank at the time of granting loan which will be used as the processing fee. Sometimes this amount is usually charged from the applicant from the amount of loan also in this case total scheduled loan amount is not given to the candidate.
  • Out of the total sanctioned amount only 2.5 per cent is usually charged as the service charge or processing fee. For current detail on processing fee you can contact to the nearest branch.


Repayment tenure

Repayment of loan can be done in 12 to 60 months of equated monthly instalments which start on the commencement of repayment time. Repayment time is started after one year of course or 6 months after job and whichever of above is less is considered as the commencement time of loan repayment period.


Security

This is the main advantage of education loan under the city bank’s personal loan scheme that you will not require pay any amount as security for your loan


Margin

Visit the nearest branch for current rate of margins


Required Documents

  • Application form
  • Proof of identity
  • Proof of residence /domicile
  • Proof of age of the applicant
  • Proof of continuity of things for which loan is being applied for example business or studentship
  • Proof of income

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