Education Loan for CA Students

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This query is : Resolved

khundrakpam Satyabarta (Querist)

16 January 2009 Sir
I approach to UBI for an education Loan of our CA course .But as our study course is different and a distance one, the bank manager has asked me to produced the total estimated cost which may incurred( approx)
certified by the authority of the ICAI to be incurred in completing the Course.
therefore where should I apply for to obtain this required Certificate which is a must for the loan. Shall I easily get it.
Thanking You.

KAAPIL

KAAPIL (Expert)

18 January 2009 I am sorry but you will not get loan for ICAI Education. You will have to apply for the personal loan or apply to Co-operative Bank by becoming there shareholder.

Suresha R

Suresha R (Expert)

24 June 2011 HEY ALL STUDENTS THERE IS A NEW PROVISION FOR THE EDUCATION LOAN BY THE STATE BANK OF INDIA FOR CA STUDENTS
FOLLOWING IS THE PROVISION

STUDENT LOAN SCHEME
Our Student Loan scheme covers courses like ICWA, CA, CFA, etc. However, many students are not
availing education loan for chartered accountancy course. We have now received a request from ‘The
Institute of Chartered Accountants of India’ (ICAI), which is a statutory body set up under an Act of
Parliament viz. The chartered Accountants Act, 1949, to consider the loan applications of the
students entering into its chartered accountancy course. Thus, loans to student entering into the
chartered accountancy course conducted by ICAI only may be considered under Student Loan
Scheme. A maximum loan of Rs, 2 lacs may be sanctioned based on the following expenses:
S.No. Particulars Amount (in Rs.)

1. Course Fee 42,450/-

2. Provision of Laptop 40,000/-
3. Expenditure on Live Virtual Classes 50,000/-
4. Six weeks residential course (optional) 40,000/-
The loan can be distributed in the following manner:
1. On registration for CPT- 10% of the sanctioned amount i.e. maximum20,000/-
2. On registration for IPCC- 30% of the sanctioned amount i.e. maximum60,000/-
3. On registration for final- 60% of the sanctioned amount i.e. maximum Rs1,20,000/-

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