The Central Bank of India has entered into an understanding with the ‘Adhi College of Engineering & Technology' and the ‘Image College of Arts, Animation & Technology' to offer education loans to students of the institute.

The understanding entails disbursing of educational loans to the students pursuing higher studies in these institutions. Under the stated terms, the Bank will also provide the female candidates, students of SC/ST and minority category, education loans at concessional rates of interest.

Admits of the economic slowdown and poor job market, banks have been closely watching their education loan portfolios and restructuring them. Recently, National Association of Software and Services Companies (NASSCOM), urged the government to ask the banking institutions to restructure the education loans, considering the tight job market.

The Central Bank of India also restructured education loans by extending the moratorium period on these loans to reduce their EMIs.

Central Bank offers ‘CENT Vidyarthi', an education loan facility to students of Indian origin for pursuing higher studies in India and abroad. The loan is availed only to the students who have secured admission to professional/technical courses through entrance test/selection process. The loan amount available is up to a maximum of Rs. 10 lakhs for studies in India and Rs. 20 lacs for studies abroad, for a maximum period of 5 to 7 years. The repayment of the loan commences 12 months after the completion of studies or 6 months after securing jobs (whichever is earlier).