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Our Bureau

Mumbai , Sept. 4

ON the occasion of Teachers' Day, Canara Bank and Central Bank of India have announced special offers for teachers.

Canara Bank reduced the rate on loans for teachers to 10.75 per cent from 12 per cent. The offer is available from September 9 to September 30.

Under the Central Bank of India's scheme, teachers can avail themselves of a maximum loan of up to Rs 2 lakh at an interest rate of 10 per cent, repayable in 48 monthly instalments, said a press release from the bank.

Central Bank has also reduced the interest rates on educational loans under the Cent Vidhayarthi Scheme to commemorate the 125th birth anniversary of its founder, Sir Sorabji Pochkhanwalla.

The interest rate has been reduced by 50 basis points to 10.5 per cent.

Students doing professional courses in IIT and IIM will get an additional 50 basis points advantage, at 10 per cent.

For women students securing admission to IIT/IIM — the loans are priced at 9.5 per cent.

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