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EDUCATION LOAN – STUDY IN INDIA/ABROAD/NRI STUDENTS  Special Scheme for students of Premier Management & Technical Institutes for Academic Year 2022-2023

Details of Special Education Loan Scheme for students of Premier Management Technical Institutes: (Tier-I)

 

Feature

Details

1

Eligibility

Students who secure admission in full time courses in the following institutes for the academic year 2022-23 only.

MANAGEMENT COURSES

Sr.

Institute

Course

1

Indian Institute of Management, Ahmedabad (IIM A)

Post Graduate Programme in Management (PGP)

Post Graduate Programme in Food Agribusiness Management (PGP-FABM)

2

Indian Institute of Management, Bangalore (IIM B)

Masters in Business Administration

Post Graduate Programme in Business Analytics (PGPBA)

3

Indian Institute of Management, Calcutta (IIM C)

Masters in Business Administration

Post Graduate Diploma in Computer Aided Management (PGDCM)

Post Graduate Diploma in Business Analytics (PGDBA)

4

Indian Institute of Management, Indore (IIM I)

Post Graduate Programme in Management (PGP)

5

Indian Institute of Management, Kozhikode (IIM K)

Post Graduate Programme in Management (PGP)

Post Graduate Programme in Liberal Studies Management (PGP-LSM)

Post Graduate Programme in Finance Management (PGP-FIN))

6

Indian Institute of Management, Lucknow (IIM L)

Post Graduate Programme in Management (PGP)

Post Graduate Programme in Agriculture Business Management (PGP-ABM)

Post Graduate Programme in Sustainable Management(PGP-SM)

7

Indian Institute of Management, Raipur (IIM Rp)

Post-Graduate Programme in Management (PGP)

8

Indian Institute of Management, Ranchi (IIM Ra)

Masters in Business Administration

Masters in Business Administration (MBA-HR)

Post Graduate Programme in Business Analytics (MBA- Business Analytics)

9

Indian Institute of Management, Rohtak (IIM Ro)

Post Graduate Programme in Management (PGP)

10

Indian Institute of Management, Shillong (IIM S)

Post Graduate Programme in Management (PGP)

11

Indian Institute of Management, Trichy (IIM T)

Post Graduate Programme in Management (PGP)

Post Graduate Programme in Human Resource Management (PGPHRM)

 

12

Indian Institute of Management, Kashipur (IIM Kashipur)

Masters in Business Administration

13

Indian Institute of Management, Udaipur (IIM U)

Masters in Business Administration

14

Indian Institute of Management, Bodhgaya (IIM BG)

Masters in Business Administration

15

Indian Institute of Management, Nagpur (IIM N)

Post Graduate Programme in Management (PGP)

16

Indian Institute of Management, Visakhapatnam (IIM V)

Post Graduate Programme in Management (PGP)

17

Indian Institute of Management, Amritsar (IIM Amritsar)

Masters in Business Administration

18

Indian Institute of Management, Sambalpur (IIM Sambalpur)

Post Graduate Programme in Management (PGP)

19

Indian Institute of Management, Srimaur (IIM Srimaur)

Masters in Business Administration

MBA (Tourism hospitality Management)

20

Indian Institute of Management, Jammu(IIM Jammu)

Masters in Business Administration

21

Institute of Management Technology (IMT), Ghaziabad

Post Graduate Diploma in Management (PGDM)

22

Xavier Labour Relation Institute (XLRI), Jamshedpur

Postgraduate Diploma in Human Resource Management (PGDHRM)

Post Graduate Diploma in Business Management (PGDBM)

Post Graduate Diploma in Management (General Management)

23

S. P. Jain Institute of Management Research (SPJIMR), Mumbai

Post Graduate Diploma in Management (PGDM)

24

Management Development Institute (MDI), Gurgaon

Executive Management Programee

(PGDM/PGDM-HRM/PGDM-IB)

25

S P Jain School of Global Management, Mumbai

MGB (Master in Global Business) GMBA (Global MBA)

26

International Management Institute (IMI), Delhi

PGDM/PGDM-BFS/PGDM-HR

27

Great Lakes Institute of Management Chennai and Gurgaon

PGDM/PGPM only

28

TA Pai Management Institute (TAPMI) Manipal

PGDM

29

Symbiosis Center for Management Human Resources Development (SCMHRD), Pune

MBA

30

Mudra Institute of Communication Ahmedabad (MICA)

PGDM - C

 

31

Faculty of Management Studies - University of Delhi (FMS), New Delhi

MBA (Full Time)

32

Narsee Monjee Institute of Management Studies (NMIMS), Mumbai

MBA

33

Indian Institute of Foreign Trade (IIFT), New Delhi Kolkata

MBA IB

34

National Institute of Industrial Engineering (NITIE), Mumbai

PGDIE, PGDIM PGDISEM, PGDITM

35

Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai 

MMS

36

Shailesh J Mehta School of Management - IIT Bombay, Mumbai 

Master of Management

37

Department of Management Studies - IIT Delhi, New Delhi

MBA (Full Time)

38

Vinod Gupta School of Management - IIT Kharagpur, Kharagpur

MBA

39

Industrial and Management Engineering - IIT Kanpur

MBA

40

Department of Management Studies - IIT Madras, Chennai

MBA (full time)

41

Tata Institutes of Social Science (TISS) Mumbai

M A in HR Management Labour Relation

42

Welingkar Institutes of Management Development Research Mumbai

PGDM/MMS

43

Xavier's Institute of Management Bhubaneshwar (XIMB) 

MBA-BM (Business Management)

44

Xavier School of Human Resource Management Bhubaneshwar (XSHRM)

MBA - HR

TECHNICAL COURSES

45

Indian Institute of Technology (IITs)

Bachelor of Technology

Dual Degree Programmes with B.Tech

46

National Institute of Technology (NITs)

B.Tech/BE

Dual Degree Programmes with B.Tech

 

47

Indian Institute of Science (IISc), Bangalore

Master of Technology (M.Tech)

Master of Engineering (ME)

Master of Design (M.Des)

48

Thapar University, Patiala

B.E./B.Tech Courses for study in India.

International Engineering Program in Collaboration with Trinity College, Dublin, Ireland.

International Engineering Program in exchange program with

University of New South Wales, Australia

University of Queensland, Australia

University of Toledo, Ohio United States

University of Leeds, UK

49

Indian Institute Information Technology (IIIT) Allahabad

B.Tech/Dual degree programmes with B.Tech

50

National Institute of Design (NID), Ahmedabad / Bengaluru / Gandhinagar

Bachelor of Design (B.Des)

Master of Design (B.Des)

51

International Institute of Information Technology Hyderabad

B Tech CSE/ECE

52

Delhi Technological University, Delhi

B Tech CSE/IT/ECE

53

Indira Gandhi Delhi Technical University for Women, New Delhi

B Tech CSE

54

Indian Institute of Engineering, Science Technology, Shibpur Howrah

B Tech/B. Arch

55

Birla Institute of Technology Sciences (BITs) at Pilani, Goa, Dubai Hyderabad

B Tech/BE

56

Indira Gandhi Rashtriya URAN Akademi

Commercial Pilot License (CPL) coupled with instrument and Multi engine endorsement along with an option for BSc (Aviation degree)

PHARMACY

57

Birla Institute of Technology Science -Pilani

B. Pharma

58

Institute of Chemical Technology, Mumbai

B. Pharma

59

Jamia Hamdard, New Delhi

B. Pharma

LAW

60

Symbiosis Law School, Pune

BA LLB, LLB, LLM

61

National Law University, Delhi

BA LLB, LLM

62

National Law University, Bengaluru

BA LLB, LLM

63

National Law University, Hyderabad

BA LLB, LLM

64

National Law University, Jodhpur

BA LLB, LLM

65

Gujrat National Law University, Gandhinagar

BA LLB, LLM

66

Government Law Collage, Mumbai

BA LLB, LLM

2

Purpose

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

*Student to deposit the money in the loan account immediately on refund from the institute. An undertaking to be obtained from the student in this respect.

3

Quantum of Loan

Rs.40 Lakh.

(inclusive of Rs. 1.50 lakh for purchase of new two wheeler)

4

Margin

Nil.

5

Interest rate

  • EBLR (floating)
  • EBLR prevailing on the date of disbursement (whether partial or full) shall be applicable.
  • If the loan is taken over by another bank / FI, then normal rate of interest as applicable under Union Education Scheme on the date of sanction, to be charged ab-initio. However, no take over charge to be levied.

6

Processing charges

Nil

7

Repayment period

180 months (15 years)

8

Moratorium period

Course period + 1 year

9

Co-applicant/

Guarantor

Either of the parents or spouse to be made co-applicant / guarantor.

10

Security

No collateral security or third-party guarantee.

11

Insurance

  • Term life insurance policy to be obtained assigned in favour of the bank.
  • The policy should be in the name of student, for an amount not less than the loan amount and for the tenure covering course, moratorium and repayment period.

12

Other Terms Conditions

  • NRI students are not covered under the scheme.
  • All other terms conditions are as per Union Education Scheme for studies in India.

13

Loans to students in subsequent years

  • The loan can also be granted to the students, who seek a loan in the subsequent years / terms (i.e. academic year 2020-21 onwards) and who have not availed educational loan from other bank / FI for the initial years.
  • The earlier year fees and desktop/laptop expenses would not be reimbursed.
  • The loan will include tuition fees, cost of books, hostel charges, mess charges, living expenses, insurance premium etc. for the subsequent years.
  • If the student is selected for the Student Exchange programme abroad, then the expenses for the same may be included in the loan.
  • All other terms conditions will be as per the Union Education scheme for inland studies.

Details of Post Graduate Programme in Management for Executives (PGPX) of IIM - Ahmedabad:

 

Feature

Details

1

Institute Course

Institute

Course

Indian Institute of Management, Ahmedabad (IIM A)

Post Graduate Programme in Management for Executives (PGPX)

2

Eligible Individuals

  • A Bachelor degree in any discipline
  • Minimum completed age of 25 years
  • A valid GMAT / GRE score
  • Minimum 4 years of full-time work experience after completion of graduation.

3

Margin

Nil.

4

Quantum of Loan

Maximum up to Rs.35.00 Lakh

5

Interest rate

EBLR + 0.10% (floating)

  • EBLR prevailing on the date of disbursement (whether partial or full) shall be applicable.
  • The External Benchmark shall be reset at least once in three months or any other frequency as prescribed by Bank / RBI.
  • The spread will remain fixed for 3 years for the borrower. The first reset will be 3 years from the date of sanction and subsequent resets will be every 3 years from the last reset date.
  • The premium component will remain fixed till maturity of the loan.

6

Repayment period

Maximum repayment period is 15 years (after completion of the course) or up to 60 years of age of the borrower, whichever is earlier.

7

Moratorium period

  • Moratorium up to course period only. Repayment to start from the next month of completion of course.

9

Other Terms and Conditions

  • Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank.
  • All other terms and conditions as per Special Education Loan Scheme for Premier Management Technical Institutes to be complied with.

Details of MBA Programme for working executives of IIM Kozhikode

 

Feature

Details

1

Institute Course

Institute

Course

Indian Institute of Management, Kozhikode (IIM K)

MBA Programme for working executives.

2

Eligible Individuals

Working executives

3

Margin

10% (total cost of the course at present is Rs.10.00 Lakh)

4

Quantum of Loan

Maximum up to Rs. 9.00 Lakh

5

Interest rate

EBLR + 0.75% (floating)

  • EBLR prevailing on the date of disbursement (whether partial or full) shall be applicable.

6

Repayment period

Maximum repayment tenure (after course completion) will be 15 years (180 months) or up to 60 years of age of borrower, whichever is earlier.

7

Moratorium period

  • Moratorium up to course period only. Repayment to start from the next month of completion of course.
  • Interest to be serviced during moratorium as the students will be working professionals and earning income.

9

Other Terms and Conditions

  • Only working executives are covered under the Scheme.
  • Letter of consent / NOC from Employers to be obtained to pursue the programme.
  • Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank.
  • IT return/salary certificate/employment certificate to be obtained to assess the present earnings.
  • All other terms and conditions as per Special Education Loan Scheme for Premier Management Technical Institutes to be complied with.

Details of e-Post Graduate Diploma in Advance Business Analytics (ePGD-ABA) of IIM-Ahmedabad:

 

Feature

Details

1

Institute Course

Institute

Course

Indian Institute of Management, Ahmedabad (IIM A)

e-Post Graduate Diploma in Advanced Business Analytics (ePGD-ABA)

[Name changed from Post Graduate Programme in Advanced Business Analytics (PGP-ABA)]

2

Eligible Individuals

  • Students must have undergraduate degree
  • A valid test score (GMAT / GRE / CAT / GATE or the PGP ABA qualifying-cum-aptitude test
  • Minimum of 2 years of work experience (preferably in the domain of Business Analytics) 

3

Margin

10% i.e. Rs.1.25 lakh (total cost of the course is Rs.12.50 lakh i.e. Course fee Rs.10.00 lakh Laptop/books/other Rs.2.50 lakh)

4

Quantum of Loan

Maximum up to Rs. 11.25 Lakh

5

Interest rate

EBLR + 0.25%(floating) Continuation of earlier approval

EBLR prevailing on the date of disbursement (whether partial or full) shall be applicable.

6

Other Terms and Conditions

Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank.

All other terms and conditions as per Special Education Loan Scheme for Premier Management Technical Institutes to be complied with.

Details of Executive Post Graduate Programme in Management (ePGP) of IIM Raipur:

 

Sr.

No.

Feature

Details

Institute

Course

1.

Institute Course

Indian Institute of Management, Raipur

Executive Post Graduate Programme in Management (ePGP)

2.

Eligible Individuals

Working Executives

3.

Margin

10% (Total cost of the course is 12.20 lakh i.e. Total Programme Fee Rs. 9.7 lakh Laptop/Video Conferencing Peripherals/study material other than online Library- Rs 2.50 lakh)

4.

Quantum of Loan

Maximum up to Rs.11.00 Lakh

6.

Moratorium Period

  • Moratorium up to course period only. Repayment to start from the next month of completion of course.
  • Interest to be serviced during moratorium as the students will be working professionals and earning income.

7.

Interest rate

EBLR + 0.75% (floating)

  • EBLR prevailing on the date of disbursement (whether partial or full) shall be applicable.

 

8.

Repayment Period

Maximum repayment tenure (after course completion) will be 15 years (180 months) or up to 60 years of age of borrower, whichever is earlier.

9.

Other Terms Conditions

  • Only working executives are covered under the scheme.
  • Letter of consent/NOC from Employers to be obtained to pursue the programme.
  • Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank.
  • IT return/salary certificate/employment certificate to be obtained to assess the present earnings.

 Details of MBA Programme for working executives of IIM Jammu:

S.No.

Feature

Details

Institute

Course

1.

Institute Course

Indian Institute of Management, Jammu (IIM JAM)

MBA Programme for working executives

2.

Eligible Individuals

Working Executives

3.

Margin

10% (total cost of the course at present is Rs.8.85 Lakh)

4.

Quantum of Loan

Maximum up to Rs.8.00 Lakhs

6.

Moratorium Period

  • Moratorium up to course period only. Repayment to start from the next month of completion of course.
  • Interest to be serviced during moratorium as the students will be working professionals and earning income.

7.

Interest rate

EBLR + 0.75% (floating)

  • EBLR prevailing on the date of disbursement (whether partial or full) shall be applicable.

8.

Repayment Period

Maximum repayment tenure (after course completion) will be 15 years (180 months) or up to 60 years of age of borrower, whichever is earlier.

9.

Other Terms Conditions

  • Only working executives are covered under the scheme.
  • Letter of consent/NOC from Employers to be obtained to pursue the programme.
  • Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank.
  • IT return/salary certificate/employment certificate to be obtained to assess the present earnings.

Detail of Post Graduate Programme in Management for Working Executives (PGPMX) of IIM, Indore:-

 

Sr.

No.

Feature

Details

Institute

Course

1.

Institute Course

Indian Institute of Management, Indore

Post Graduate Programme in Management for Working Executives(PGPMX)

2.

Eligible Individuals

1. Bachelor’s degree or its equivalent.

2. The percentage of marks obtained at the bachelor’s degree or the preceding degree should be minimum 50 or equivalent CGPA.

3. Completed at least 5 years of full time managerial/professional experience after bachelor’s degree

3.

Margin

Nil

4.

Quantum of Loan

Maximum up to Rs.17.60 Lakh

6.

Moratorium Period

  • Moratorium up to course period only. Repayment to start from the next month of completion of course.
  • Interest to be serviced during moratorium as the students will be working professionals and earning income.

7.

Interest rate

EBLR + 0.10% (floating)

  • EBLR prevailing on the date of disbursement (whether partial or full) shall be applicable.

8.

Repayment Period

Maximum repayment tenure (after course completion) will be 15 years (180 months) or up to 60 years of age of borrower, whichever is earlier.

9.

Other Terms Conditions

  • Only working executives are covered under the scheme.
  • Letter of consent/NOC from Employers to be obtained to pursue the programme.
  • Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank.
  • IT return/salary certificate/employment certificate to be obtained to assess the present earnings.

 

Details of PGPM Programme for working executives of SPJIMR:

Sr.

No.

Feature

Details

Institute

Course

1.

Institute Course

S. P Jain Institute of Management Research (SPJIMR),Mumbai

Post Graduate Programme in Management (PGPM)

2.

Eligible Individuals

Working Executives

3.

Margin

10% (Total cost of the course at present is Rs.19.90 Lakh excluding living expenses, books, laptopetc.)

4.

Quantum of Loan

Maximum up to Rs.20.00Lakh

6.

Moratorium Period

  • Moratorium up to course period (15 months) only. Repayment to start from the next month of completion of course.
  • Interest to be serviced during moratorium as the students will be working professionals and earning income.

7.

Interest rate

EBLR + 0.75% (floating)

  • EBLR prevailing on the date of disbursement (whether partial or full) shall be applicable.

8.

Repayment Period

Maximum repayment tenure (after course completion) will be 15 years (180 months) or up to 60 years of age of borrower, whichever is earlier.

9.

Other Terms Conditions

  • Only working executives are covered under the scheme.
  • Letter of consent/NOC from Employers to be obtained to pursue the programme.
  • Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank.
  • IT return/salary certificate/employment certificate to be obtained to assess the present earnings.

 

Details of Programme for IRMA:

Sr.

No.

Feature

Details

Institute

Course

1.

Institute Course

Institute of Rural Management Anand (IRMA)

Programme in Rural Management

2.

Margin

  • Nil

3.

Quantum of Loan

Maximum up to Rs.20.00 Lakh

4.

Interest rate

EBLR+0.05% (floating)

· EBLR prevailing on the date of disbursement (whether partial or full) shall be applicable.

5.

Security

No collateral security

6.

Co-applicant/

Guarantor

  •  Either of the parents or spouse to be made guarantor.
  •  Income/means of the guarantor is not to be considered while sanctioning the loan.
  • If the parent / spouse has not accompanied the student at the time of application / sanction, the formalities with regard to the guarantor such as obtaining credit information, guarantee bond, etc can be complied with subsequently.

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