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EDUCATION LOAN – STUDY IN INDIA/ABROAD/NRI STUDENTS  SPECIAL SCHEME FOR PREMIER MANAGEMENT & TECHNICAL INSTITUTES

Features

ELIGIBILITY
  • Students who secure admission in full time courses in the following institutes for the academic year 2020-21only:

Course

Institute

  • Post Graduate Programme in Management (PGP)
  • Indian Institute of Management (Ahmedabad, Bangalore, Indore, Kozhikode, Lucknow, Raipur, Rohtak, Shilong, Trichy, Kashipur, Udaipur, Bodhgaya, Nagpur, Vishakhapatnam, Amritsar, Sambalpur, Sirmaur & Jammu)
  • Management Development Institute (MDI), Gurgaon
  • Post Graduate Programme in Agribusiness Management (PGP-ABM)
  • Indian Institute of Management (Ahmedabad & Lucknow)
  • Post Graduate Diploma in Computer Aided Management (PGDCM)
  • Post Graduate Diploma in Business Analytics (PGDBA)
  • Indian Institute of Management (Calcutta)
  • Post Graduate Diploma in Human Resource Management (PGDHRM)
  • Indian Institute of Management, Ranchi
  • Post Graduate Diploma in Management (PGDM)
  • Indian Institute of Management (Ranchi, Calcutta)
  • S. P. Jain Institute of Management & Research (SPJIMR), Mumbai
  • Institute of Management Technology (IMT), Ghaziabad
  • Postgraduate Diploma in Human Resource Management (PGDHRM)
  • Post Graduate Diploma in Business Management (PGDBM)
  • Post Graduate Diploma in Management (General Management)
  • Xavier Labour Relation Institute (XLRI), Jamshedpur
  • Post Graduate Programme in Human Resource Management (PGP-HR)
  • Management Development Institute (MDI), Gurgaon
  • Bachelor of Technology
  • Dual Degree Programmes with B.Tech
  • Indian Institute of Technology (IITs)
  • B.Tech/BE
  • Dual Degree Programmes with B.Tech
  • National Institute of Technology (NITs)
  • Master of Technology (M.Tech)
  • Master of Engineering (ME)
  • Master of Design (M.Des)
  • Indian Institute of Science (IISc), Bangalore
  • B.E./B.Tech Courses for study in India.
  • International Engineering Program in Collaboration with Trinity College, Dublin, Ireland.
  • Thapar University, Patiala
  • B.Tech/Dual degree programmes with B.Tech
  • Indian Institute Information Technology (IIIT) Allahabad
  • Bachelor of Design (B.Des)
  • Master of Design (B.Des)
  • National Institute of Design (NID), Ahmedabad

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

CO-APPLICANT/GUARANTOR
  • Either of the parents or spouse to stand as guarantor.

Note: Waiver of personal guarantee of parent / spouse / guardian permitted only for students of IIMs

QUANTUM
  • Maximum quantum up to Rs.40.00 Lacs.
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
  • Rs.1.50 lakh (maximum) for purchase of 2-wheeler vehicle.
  • Reimbursement of admission acceptance fee (AAF) and 1st 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.40.00 lakh

MARGIN I.E. YOUR SHARE
  • Nil
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
  • EBLR (floating)
  • EBLR prevailing on the date of disbursement (whether partial or full) shall be applicable
SECURITY
  • Nil
PROCESSING FEES
  • Nil
INSURANCE
  • Life insurance of the student is mandatory to the tune of the loan amount.
OTHER CONDITIONS
  • The loan shall be sanctioned / disbursed from the Branch nearest to the place of domicile of the student, Branch nearest to the institute, Branch nearest to place of employment of student (wherever applicable) or Branch nearest to the place of posting of parents (For the wards of the Government officials, all India organizations, PSUs and such other jobs, which are transferable)
  • Loan would be disbursed directly to the institute.
**Conditions apply.
**Contact our nearest branch for further details**

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