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38 views4 pages

El Questions

Uploaded by

selvakumar47
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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IMPORTANT QUESTIONS ON EDUCATION LOAN SCHEME 2024

An Initiative by Canara Bank Officers’ Association


 What is the age criteria for Education Loan scheme of our Bank?
 No age criteria
 In cases of students , who are major (> 18 years of age ) and parents are not available due to
death or any other valid reason for offering joint borrower ship, who is the delegated
authority to provide clearance for joint borrower ship of any other close relative of the
student, acceptable to the Bank
 Circle Head
 Wherever student is directly getting admission to the College without undergoing any
selection process , what is the minimum marks for various category of students for eligible
under Education Loan?
 For General merit students - 60%
 For SC/ST students - 50%
 For Girl students - 50%
 What is the minimum margin for Education Loan inland and abroad studies upto Rs 4.00
lakhs?
 NIL
 What is the minimum margin for Education Loan inland and abroad studies above Rs 4.00
lakhs?
 Inland – 5% , Abroad – 15%
 CGFSEL coverage is available for education loans upto?
 Rs 7.50 lakhs (student should be securing admission through merit quota and no
collateral security should be stipulated)
 What is the collateral security coverage required for loans above Rs 7.50 lakhs under IBA
Model EL scheme?
 Tangible collateral security to cover at least 100% of the loan amount with
stipulated margin
 What is the security stipulation for Education Loan under Management Quota.?
 Upto Rs 4.00 lakhs- Tangible collateral security to cover at least 50% of the loan
amount with stipulated margin for the type of security or third party guarantee.
 Above Rs 4.00 lakhs - Tangible collateral security to cover at least 100% of the loan
amount with stipulated margin for the type of security.
 What is the security stipulation for EL to employed person upto Rs 4.00 lakhs?
 No security
 What is the maximum loan quantum under Vidya Turant scheme?

Prepared By Sreekuttan S
IMPORTANT QUESTIONS ON EDUCATION LOAN SCHEME 2024

An Initiative by Canara Bank Officers’ Association


 Group A-Rs. 50 .00 Lakh
 Group B-Rs. 40.00 Lakh
 Group C-Rs. 30.00 Lakh
 Persons staying in a rented house for a minimum period of ______ years in a place without
owning a house in the present place of stay may also be treated as a permanent resident of
the place.
 2
 Education loan application received through Jansmarth portal are to disposed with in period
of 7 days.
 In tune with the Damodaran Committee Recommendations related to education loans, the t
minimum ______% of the Education loan accounts sanctioned should be to the students
coming from the rural areas
 30%
 What is ROI concession available for girl students under Education loan?
 0.50%
 What is the referral fees to be paid to NSDL for any loan sanctioned and disbursed, through
NSDL – Vidyalakshmi Portal.
 Rs 118.00
 If the student is not able to complete the course within the scheduled time, extension of
time for completion of course may be permitted for a maximum period of ______
 2 years
 For Educational loan up to Rs.4.00 Lakh one CICS and loans above Rs.4.00 Lakh two CICs
need to be drawn.
 Education Loans granted to individuals for educational purposes up to an amount of
________ for studies in India & for studies abroad will be treated as priority sector advances.
 Rs 20.00 lakhs
 Under CSIS 2022 Guidelines,Education Loan sanctioned after 01.04.2022 is eligible for
interest subsidy as ?
 Loan Amount sanctioned upto maximum limit of Rs. 10.00 lacs are eligible for the
subsidy, If the limit sanctioned is above Rs. 10.00 lacs, then the interest charged on
the portion of loan amount up to Rs. 10 lacs are eligible for subsidy irrespective of
any collateral security or third party guarantee.
 What is the parental income criteria for CSIS scheme for Economically Weaker Section?

Prepared By Sreekuttan S
IMPORTANT QUESTIONS ON EDUCATION LOAN SCHEME 2024

An Initiative by Canara Bank Officers’ Association


 Students whose parental income is upto Rs. 4.5 lakhs per year (from all sources)
will fall under the EWS category.
 Which are the courses eligible under Padho Pardesh Interest Subsidy Scheme for the
students belonging to the Minority Communities.
 Students from “ Minority Communities ” enrolled for “Abroad studies” under “Post
Graduate” Courses in “MASTERS/M. PHIL/Ph.D.”
 What is the income criteria for Padho Pardesh Interest Subsidy Scheme
 shall not exceed Rs. 6.00 lakhs per annum
 What is the income criteria for Dr Ambedkar Central Sector Interest Subsidy (ACSIS) Scheme
on Educational Loans for Overseas Studies for Other Backward Classes (OBCs) &
Economically Backward Classes (EBCs)

 As on date, how many institutions are enlisted under Vidya Turant and how many of which
are designated as Top premier institutes?
o Total 216, out of which 85 Top Premier Institutes
 Which all institutes are eligible ROI concession under Vidya Turant Scheme?
o 85 Top Premier Institutes
 What is the concessional ROI under Vidya Turant Scheme?
o RLLR-0.65% i.e 8.60%
 What is the duration for which ROI concession is applicable under Vidya Turant Scheme?
o 2 years for Management Studies, 4 years for Engineering and 5 years 6 months for
Medicine
 Note: ROI concession of 0.50% to girl students not applicable under Vidya Turant Scheme.
 What is the maximum cap on financing Caution deposit, building fund / refundable deposit
under Education loan scheme?

o amount does not exceed 10% of the total tuition fees for the entire course.

Prepared By Sreekuttan S
IMPORTANT QUESTIONS ON EDUCATION LOAN SCHEME 2024

An Initiative by Canara Bank Officers’ Association


 In case if the Education Loan is to be secured under Life Insurance scheme of Canara HSBC
Life Insurance Company Ltd, what is the insurance coverage to be ensured?
o Insurance to be covered up to 120% of loan amount sanctioned without any upper
cap.

 What is the margin on various type of collateral securities that can be accepted for
Education loan?
o Land, Land & Building - NIL
o LIC Policy-NIL
o 3rd party deposits- NIL
o Market value of approved shares/Debentures/approved units of Mutual funds- 50%
o Gold – 20% of appraised value

Prepared By Sreekuttan S

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