SPECIAL SCHEME FOR TIER II MANAGEMENT & TECHNICAL INSTITUTES

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SPECIAL SCHEME FOR TIER II MANAGEMENT & TECHNICAL INSTITUTES

Features

ELIGIBILITY

Students who secure admission in the following institutes for flagship undergraduate / postgraduate course for the academic year 2020-21 only:

Course	Institute
B.Tech / BE	Vellore Institute of Technology (VIT), Vellore Birla Institute of Technology & Sciences (BITs) at Pilani, Goa, Ranchi, Dubai & Hyderabad
4-years Undergraduate Course / 2-Years Post graduate Diploma Course in areas of Design, Management and Technology	National Institute of Fashion Technology (NIFT)
MBA (Full Time)	Faculty of Management Studies - University of Delhi (FMS), New Delhi Department of Management Studies - IIT Delhi, New Delhi Department of Management Studies - IIT Madras, Chennai Symbiosis Institute of Business Management (SIBM), Pune) Institute of Management - Nirma University, Ahmedabad (NIRMA) Symbiosis Center for Management & Human Resources Development (SCMHRD), Pune Vinod Gupta School of Management - IIT Kharagpur, Kharagpur Industrial and Management Engineering - IIT Kanpur, Kanpur
MBA-IB	Indian Institute of Foreign Trade (IIFT), New Delhi & Kolkata
PGDIE, PGDIM PGDISEM, PGDITM	National Institute of Industrial Engineering (NITIE), Mumbai
MMS	Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai
Flagship MBA only	Narsee Monjee Institute of Management Studies (NMIMS), Mumbai
Master of Management	Shailesh J Mehta School of Management - IIT Bombay, Mumbai
M.A. in HR Management & Labour Relations only	Tata Institute of Social Sciences (TISS), Mumbai
PGDM / MMS	Welingkar Institute of Management Development and Research, Mumbai
MMS PGDBM	Sydenham Institute of Management Studies, Research and Entrepreneurship Education (SIMSREE), Mumbai
PGDM MMS	KJ Somaiya Institute of Management Studies and Research (KJSIMSR), Mumbai
Xavier's Institute of Management Bhubaneswar (XIMB)	MBA – BM (Business Management)
Xavier School of Human Resource Management (XSHRM)	MBA – HR
Xavier School of Rural Management (XSRM)	MBA - RM
Mudra Institute of Communication Ahmedabad (MICA)	PGDM - C only
MBA – BFSI BBA – BFSI BBA Retail B. Tech – CSIT B. Tech – Mechatronics B. Tech - Automobile	Symbiosis University of Applied Sciences, Indore
TA Pai Management Institute (TAPMI) Manipal	PGDM
Institute of Rural Management Anand (IRMA)	Programme in Rural Management
Goa Institute of Management (GIM), Goa	PGDM only
Indian Institute of Forest Management (IIFM), Bhopal	Post Graduate Diploma in Forestry Management (PGDFM)
Xavier Institute of Social Services, Ranchi	PGDM (Full Time)
Indian Institute of Engineering, Science & Technology, Shibpur - Howrah	B. Tech B. Arch

Note: The scheme does not cover executive courses / programmes at the above institutes.

CO-APPLICANT/GUARANTOR

The parent(s) of the student has to compulsorily join in as co-applicant.
In case of a married person, co-applicant can be spouse/parent(s)/parent(s)-in-law.
In cases where both the parents are not alive, close relative or guardian to be taken as co-applicant.

QUANTUM

Maximum quantum of loan up to Rs.12 Lakh.

EXPENSES CONSIDERED

Tuition fees, cost of books, caution deposit, hostel charges, mess charges, equipment such as desktop/laptop, living expenses, insurance premium, expense for student exchange programme, admission acceptance fee etc.

Note:

Student to deposit the caution deposit money in the loan account immediately on refund from the institute. An undertaking to be obtained from the student in this respect.
Laptop/desktop cost can be reimbursed to the student if it is purchased for the purpose of study at these institutes.

SPECIAL FEATURES

Reimbursement of admission acceptance fee (AAF) and 1^st term fee if paid by the student from the own sources.
The student-exchange programme expenses viz. tuition fee payable at the institute abroad along with lodging & boarding expenses, travel expenses for passage abroad and living expenses included.

Note: All the above facilities are permitted within maximum proposed limit of Rs.12.00 lakh

MARGIN I.E. YOUR SHARE

Nil for loan up to Rs.4 lacs
5% for loan above Rs.4.00 lacs and up to 12.00 Lacs

REPAYMENT TENURE

The maximum repayment tenure will be 15 years (excluding moratorium).
Moratorium of Course period + 1 year.
The accrued interest during the moratorium period (if not serviced) will be added to the principal amount while calculating Equated Monthly Installments (EMI) for repayment.

RATE OF INTEREST

Please click here to know our latest interest rates
Attractive rate of interest of EBLR + 1.75% (floating) for male students and EBLR + 1.25% (floating) for Female / SC / ST / Minority students
EBLR prevailing on the date of disbursement (whether partial or full) shall be applicable

SECURITY

The security required is as mentioned below:

Quantum of loan	Security
Up to Rs.4 Lakh	No security required, if the loan is covered under CGFSEL.
Above Rs.4 Lakh & up to Rs.7.50 Lakh	No security required, if the loan is covered under CGFSEL.
Above Rs.7.50 Lakh	Tangible collateral security of minimum value equivalent to the loan amount and interest accumulation during course & moratorium period, acceptable to the bank**