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EDUCATION LOAN TO STUDENTS FOR PURSUING MBA FROM IIMs & OTHER PREMIER MANAGEMENT INSTITUTES

EDUCATION LOAN TO STUDENTS FOR PURSUING MBA FROM IIMs & OTHER PREMIER MANAGEMENT INSTITUTES

Maximum Loan Amount :

Rs. 40.00 Lakhs

Borrower/ Joint Borrower:

Loan to be sanctioned in individual name of the student.

Parent(s)/guardian/ spouse/parents-in-law of the student may also be taken as joint-borrower.

Margin:

No Margin

Maximum Loan Amount:

Rs 40.00 Lakh.

Security:

No collateral Security’ No third party guarantee, Assignment of future income of the student.

Comprehensive life insurance policy for the student availing Educational Loan to the minimum of loan amount for a minimum period of loan term (i.e., course period + moratorium period + repayment period) assigned in favour of the Bank.

One time premium based term policy for life of the student for entire tenure of loan to be considered for payment within the ceiling of sanctioned limit.

Rate of Interest:

REPO RATE (6.50%) + 1.60 (Credit Risk Premium) = 8.10% presently [For AAA Category]

REPO RATE (6.50%) + 1.70 (Credit Risk Premium) = 8.20% presently [For AA Category]

REPAYMENT PERIOD: 15 YEARS AFTER COMPLETION OF MORATORIUM PERIOD

MORATORIUM PERIOD: COURSE PERIOD + 1 YEAR

EXPENSES CONSIDERED FOR LOAN:

  • Fee payable to college/hostel. Reasonable lodging and boarding charge will be considered in case the student chooses / is required to opt for outside accommodation.
  • Examination/ Library/ Laboratory fee.
  • Travel expenses.
  • Insurance premium for student borrower.
  • Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts.
  • Purchase of books/ equipment/ instruments/ uniforms.
  • Purchase of computer at reasonable cost, if required for completion of the course.
  • Any other expense required to complete the course – like study tours, project work, thesis work, etc.
  • Visit to foreign universities in Exchange Programme.
  • Living Expenses up to Rs.120000/- p.a. on declaration basis.
  • Membership & subscription to Alumni/professional organization.
  • Reimbursement of above expenses already incurred/loan taken from identified sources (to meet the contingencies) by the applicant on merits is allowed, subject to production of original receipts within three months from the date of payments of fees/expenses incurred

LIST IIMS & OTHER PREMIER MANAGEMENT INSTITUTES

Sr

CATEGORY- AAA INSTITUTIONS

IIM Institutes only

1

Indian Institute of Management, Ahmedabad, Gujarat

2

Indian Institute of Management, Bangalore, Karnataka

3

Indian Institute of Management, Kolkata, West Bengal

4

Indian Institute of Management, Indore, Madhya Pradesh and Mumbai Campus of IIM Indore

5

Indian Institute of Management, Kashipur, Uttarakhand

6

Indian Institute of Management, Kozhikhode, Kerala

7

Indian Institute of Management, Lucknow, U.P.

8

Indian Institute of Management, Raipur, Chattisgarh

9

Indian Institute of Management, Ranchi, Jharkhand & Hyderabad Campus of IIM Ranchi

10

Indian Institute of Management, Rohtak, Haryana.

11

Indian Institute of Management, Shillong, Meghalaya

12

Indian Institute of Management, Trichhy, Tamil Nadu

13

Indian Institute of Management, Udaipur, Rajasthan

14

Indian Institute of Management, Indore for IPM Programme and other similar Integrated 5 year programmes of IIMs.

15

Indian Institute of  Management, Nagpur, Maharastra

16

Indian Institute of Management, Amritsar , Punjab

17

Indian Institute of Management, Bodhgaya, Bihar

18

Indian Institute of Management, Sirmour

19

Indian Institute of Management, Visakhapatnam

20

Indian Institute of Management, Sambalpur

21

Indian Institute of Management, Jammu

Sr

CATEGORY- AA INSTITUTIONS

Premier Management & other Institutes

1

Xavier Labour Relation Institute (XLRI), Jamshedpur.

2

Xavier University for Bhubaneswar Campus (XIMB).

3

Xavier School of Human Resource Management, (XSHRM), XUB-Bhubaneswar

4

Xavier School of Rural Management (XSRM), XUB-Bhubaneswar

5

SP Jain Institute of Management and Research (SPJMR), Mumbai.

6

Management Development Institute (MDI), Gurgaon.

7

PGP/MBA Programme of  IIT Delhi

8

PGP/MBA Programme of  IIT Bombay

9

PGP/MBA Programme of IIT Roorkee

10

PGP/MBA Programme of IIT Madras

11

PGP/MBA Programme of IIT Kanpur

12

All IITs

13

GP & PGP-Pro Programme of ISB for Hyderabad, Mohali, Bangalore, Delhi & Mumbai Locations

14

Faculty of Management Studies (FMS), Delhi

15

Jamnalal Bajaj Institute of Management Studies (JBIMS)- Mumbai/span>

16

Narsee Monjee Institutes of Management Studies (NMIMS)- Mumbai

17

IRMA- Anand

18

PGP/MBA of IIFM-Bhopal

19

National Institute of Industrial Engineering (NITIE)- Mumbai

20

Symbiosis Centre For Management & HRD (SCMHRD), Pune

21

Symbiosis Institute of Business Management (SIBM), Pune

22

Institute of Management & Technology (IMT) - Ghaziabad Campus

23

Institute of Management & Technology (IMT)- Hyderabad Campus

24

Institute of Management & Technology (IMT)- Nagpur Campus

25

Bharathidasan Institute of Management (BIM), Tiruchirapalli

26

TAPMI-Manipal (for MBA, PGDM & Engineering)

27

NIFT-New Delhi

28

MBA in International Business (Full Time) IIFT- Delhi/Kolkata/Gift City Ahmedabad

Sr

CATEGORY- AA INSTITUTIONS

Premier Medical College in India (Maximum Loan amount up to Rs.200 lakh with 100% collateral security)

1

AIIMS and all Government Colleges

2

Grant Medical College, Mumbai

3

Madras Medical College, Chennai

4

SRM Medical College Hospital and Research Centre, Kattankulathur

5

KGMU - King George's Medical University, Lucknow

6

Christian Medical College, Vellore

7

National Institute of Mental Health and Neurosciences, Bangalore

8

BHU - Banaras Hindu University

9

Jawaharlal Institute of Postgraduate Medical Education & Research

10

Post Graduate Institute of Medical Education & Research, Chandigarh

11

Amrita School of Medicine, Kochi

12

Kasturba Medical College, Manipal and Kasturba Medical College, Mangalore

13

Sanjay Gandhi Postgraduate Institute of Medical Sciences, Lucknow

14

Sree Chitra Tirunal Institute for Medical Sciences and Technology, Thiruvananthapuram, Trivandrum

15

Institute of Liver and Biliary Sciences, New Delhi

16

St. John's Medical College, Bangalore