Corporation Bank scheme for financing tuition fee

Corporation Bank has launched ‘Corp Tutor Fee' — a new scheme for financing tuition fees for preparation for entrance examinations of professional courses.

A bank release said here that the scheme was launched by Mr Ramnath Pradeep, Chairman and Managing Director of the bank, in Mumbai on Thursday.

Under ‘Corp Tutor Fee', the bank provides finance for the tuition fees for students preparing for entrance exams of professional courses such as medicine, engineering, business management, chartered accountancy etc.

The applicant can be father/mother or spouse of the student. Individuals having regular and verifiable income and have repayment capacity can apply under the scheme.

The applicant has to submit tuition fee structure issued by the institute. Applicants can avail themselves of loan from Rs 50,000 to Rs 2 lakh under the scheme. The loan can be repaid in the form of EMI within two to three years.