Education loan for pursuing MBA or E-MBA from other premier Management Institutes

Eligibility

• Education loan to the students for pursuing MBA/ E-MBA from Premier Management Institute

For Executives pursuing MBA:

• The student should be an Indian National with minimum work experience of 2 years in Government/ Corporate/Multinational concern.
• The minimum age of the student should be 23 years.
• Should have secured admission or intimation of final selection to Executive MBA programme as per list of colleges

Co-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.

Quantum of finance

Rs.50.00 Lakh

Margin

Nil

Processing Charges

Nil

Security

• No collateral security, except assignment of present as well as future income of the student.
• No third party guarantee
• Insurance Policy on the life of the student availing Education loan to the extent of at least loan amount for a minimum period of loan term (i.e., course period + moratorium period + repayment period) assigned in favour of the Bank. Premium to be paid regularly by borrower

Rate of Interest

Please click here to know our latest interest rates

Repayment Period

• Max. 15 Years (excluding Moratorium Period)
• Moratorium period= Course Period + 1 Year

Expenses considered for loan

• Fee payable to the institute/ 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.
• Purchase of books/ equipment/ instruments.
• Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts
• Travel expenses/ passage money for studies abroad.
• Purchase of computer - essential for completion of the course.
• Insurance premium for student borrower
• Any other expense required to complete the course - like study tours, project work, thesis, etc.

List of Premier Management Institutes for pursuing MBA, apart from 860 Institutes under PM Vidyalaxmi Scheme

List of Premier Management Institutes pursuing Executive MBA, apart from 860 Institutes under PM Vidyalaxmi Scheme