CORPORATION BANK- COMPUTER LOAN

Corp Byte - Computer Loan

Corp Byte

1. Eligibility

Students (Indian Nationals) of Colleges/ University / Educational Institutions pursuing their professional courses in India, provided the Institution/College undertakes to recover the monthly loan instalments.

2. Purpose

To finance purchase of Personal Computers/Laptops / Notebooks / Palmtops / PDAs / Tablet PCs etc., including other peripheral accessories like pointers / printers / scanners / digital stylus / external AC converters / UPS etc., essential for pursuing studies.

3. Quantum of Finance

Maximum Loan Amount : Rs. 1 lakh (Rupees one lakh )

4. Margin

Nil

5. Security

Hypothecation of the assets financed

6. Rate of Interest

12.50% p.a.with effect from 04.05.2009

7. Processing charges

NIL

8. Repayment Holiday

NIL

9. Repayment

The loan to be repaid on monthly basis, beginning from the month subsequent to the month of loan release and scheduled in a manner that would coincide with the student’s residual period of study at the Educational Institution / College / University, so that the loan account stands closed when the student completes his/her studies at the Educational Institution/College/University.