Central Madhya Pradesh Gramin Bank Education Loan Interest Rate
| INTEREST RATE | 11.50% to 13% |
| LOAN TENURE | With in 15 years after the Holiday | Moratorium Period |
| PROCESSING FEE | As decided by the bank from time to time |
| GUARANTOR REQUIRED | No |
| PRE CLOSURE CHARGES | As decided by the bank from time to time |
About Central Madhya Pradesh Gramin Bank
Central Madhya Pradesh Gramin Bank is a gramin bank in India established on 10-08-2012. It has headquarter in Indore and address is 204, C21 Business Park, MR 10 Rd, opposite Hotel Radisson Blu, Indore, Madhya Pradesh 452001. it has 780 branches across the state.
It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, loans, personal loans, netbanking, RTGS, NEFT, IMPS, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.
Central Madhya Pradesh Gramin Bank Education Loan Interest Rates, Education Loan at 11.50% to 13% Updated on 18 Apr 2024. Apply for Education Loans Online. Find Central Madhya Pradesh Gramin Bank Education loan purpos, Eligibility, Margin, Repayment of Education Loan ,Security, Documents Required for Education Loan from below.
Other Products of Central Madhya Pradesh Gramin Bank:
Central Madhya Pradesh Gramin Bank Education Loan Purpose
Central Madhya Pradesh Gramin Bank Eligible Courses for Education Loan
Vocational | Skill development courses of duration from 2 months to 3 years run or supported by a Ministry | Dept. | Organisation of the Govt. or a company | society | organization supported by National Skill Development Corporation or State Skill Missions | State Skill Corporations, preferably leading to a certificate | diploma | degree, etc. issued by a Govt. organization or an organization recognized | authorized by the Govt. to do so. . State Level Bankers Committee (SLBC) | State Level Coordination Committee (SLCC) may add other skill development courses | programmes, having good employabilityCentral Madhya Pradesh Gramin Bank Education Loan Document Required
For salaried individuals
- Duly filled up and signed education loan application form along with photographs
- KYC (Know Your Customer)documents
- Proof of identity- Passport, Voter ID card, Driving license, PAN card, Aadhar Card, Government department ID card
- Latest salary slip showing all deductions or Form 16 along with recent salary certificate
- Proof of residence - Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement
- Bank Statement or Bank Pass Book of having entries of last 6 months
- Guarantor Form, Copy of admission letter or the Institute along with Fees schedule (Optional)
- Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
- Detailed break-up of the costs of the course (Optional)
For all individuals except salaried
- Duly filled up and signed education loan application form along with photographs
- KYC (Know Your Customer)documents
- IT returns of the last 2 years and computation of income of last 2 years certified by a Chartered Accountant
- Proof of identity- Passport, Voter ID card, Driving license, PAN card, Aadhar Card, Government department ID card
- Proof of residence - Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement
- Bank Statement or Bank Pass Book of having entries of last 6 months
- Guarantor Form, Copy of admission letter or the Institute along with Fees schedule (Optional)
- Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
- Detailed break-up of the costs of the course (Optional)
Central Madhya Pradesh Gramin Bank Education Loan Amount
Need based finance to meet expenses as worked out under "Expenses considered for Loan" below will be considered subject to the following ceilings : For courses of duration upto 3 months Rs. 20,000/- For courses of duration 3 to 6 months Rs. 50,000/ for courses of duration 6 months to 1 year Rs. 75,000/- for courses of duration above 1 year Rs.1,50,000/- Banks may consider sanction of higher limits for courses of duration above one year, if required, for specific courses offered by reputed institutions having regard to the nature of such courses and employability (ability to repay out of job earnings).Margin
NilCentral Madhya Pradesh Gramin Bank Education Loan Repayment
The loan will be repaid after the moratorium period as indicated above in Equated Monthly Instalments (EMIs) as follows : -courses upto 1 year - In 2 to 5 years -courses above 1 year - In 3 to 7 years.Security
No collateral or third party guarantee will be taken. However, the parent will execute loan document along with the student borrower as joint borrower.Mode of Repayment of Education Loan
Post Dated Cheque (PDC): PDCs are given by the borrower in advance to the bank. They will be for future dates. Bank will deposit the cheque on the date mentioned on the cheque. This mode used to be opted by the borrowers when there were no online repayment options available. This mode is no longer popular and is used by very few borrowers.
Electronic Clearance System (ECS): This mode is very popular and most of the borrowers opted for this mode of repaying the loan. It is an electronic mode for transferring the EMI from borrower's bank to lender's bank.
National Automated Clearing House (NACH): NACH is a facility offered by National Payment Corporation of India (NPCI) for online transfer of funds on due date. This system has come into force recently and is preferred by many people. The benefit of this mode is that it allows transactions to be processed in real time.
Standing Instruction (SI): It is an order or instruction which the account holder gives to his/ her bank to pay a fixed amount to another bank/ account at a regular interval. It is also used by many borrowers to pay EMIs as EMI is a fixed amount. SI is not suitable for variable amounts.
Contact details of Central Madhya Pradesh Gramin Bank, Central Madhya Pradesh Gramin Bank SMS balance check number SMS banking, Central Madhya Pradesh Gramin Bank mobile banking, Central Madhya Pradesh Gramin Bank toll free number,Central Madhya Pradesh Gramin Bank toll free number 24*7, Central Madhya Pradesh Gramin Bank miss call number.
- MISSED CALL NUMBERS - 8010968293
- CONTACT NUMBERS - 18002336295, 0731-2445333
Central Madhya Pradesh Gramin Bank Contact Details
- BANK OFFICIAL WEBSITE - https://www.centralmpgraminbank.com
- CONTACT NUMBERS - 18002336295, 0731-2445333
- MISSED CALL NO. - 8010968293
- TOTAL BRANCHES - 780
- HEADQUARTER - Indore
- BANK ADDRESS - 204, C21 Business Park, MR 10 Rd, opposite Hotel Radisson Blu, Indore, Madhya Pradesh 452001
Central Madhya Pradesh Gramin Bank Education Loan FAQs Education Loan Document Required
