Get a study loan online
JAIDEEP SHENOY
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Corporation Bank helps students pursuing professional education
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Want an education loan, but fret having to fill in those cumbersome forms even before you can approach a bank seeking one? Well, not any more! Thanks to an initiative taken by Mangalore-based Corporation Bank, students who want to pursue their professional education can now make an online request for the bank’s education loan product — Corp Vidya — from the comfort of their home and get an in-principle approval.
This will help students who have secured admission to professional courses. This will also relieve the students from the tedious ask of travelling to various places in search of funds to pursue a course of their choice. R. P. Warrier, Vice-Chancellor, Manipal University, launched the facility at the Bank’s corporate office at Pandeshwar on June 29.
Corp Vidya
An applicant has to log in to the bank’s website www.corpbank.in and click the ‘online request for Corp Vidya (Education Loan)’ link on the home page. Applicant has to, then, fill in the details in the column such as name, address, previous examination, proposed course, expenses, loan amount sought and so on and then click the ‘submit’ button. The bank will scrutinise the same and give sanction.
The bank will communicate the sanction to the applicant through e-mail, with a copy of it to the nearest branch and zonal office. The applicant will be requested to approach the branch for submitting the loan application. The branch will sanction the loan within the shortest possible time.
According to K. L. Gopalakrishna, Executive Director of the Bank, no student should be denied access to higher education for want of finance in time. This online request facility ensures a hassle free and timely credit dispensation to students. During the last fiscal, the education loan portfolio of the Bank has increased by 63 per cent with disbursement of Rs. 269 crore.
Mr. Gopalakrishna says banks are now aggressively looking at education loans like never before, especially after the Indian Banks Association directed them to come out with an education loan scheme.
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