Eligibility
- 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 of a reputed institution in India
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.40.00 Lakh
Margin
Nill
Security
- No collateral security, except assignment of present as well as future income of the student.
- Insurance Policy on the life of the student availing Educational 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:
REPO RATE (6.50%) + 1.55 (Credit Risk Premium) = 8.05% presently [For Loans up to Rs.20 Lakh under AAA Category]
REPO RATE (6.50%) + 1.60 (Credit Risk Premium) = 8.10% presently [For Loans above Rs.20 Lakh underAAA Category]
REPO RATE (6.50%) + 1.70 (Credit Risk Premium) = 8.20% presently [For AA Category]
REPAYMENT PERIOD:
- Repayment of EMIs to start 3 months after completion of course.
- Repayment period (excluding moratorium period) is 8 years for limits up to Rs.7.50 lakh
- Repayment period (excluding moratorium period) 12 years for limits above Rs.7.50 lakh.
- Moratorium period= Course Period + 3 Month
EXPENSES CONSIDERED FOR LOAN:
- Fee payable to the institute/ hostel.
- 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. However, living expenses, personal/family maintenance expenses, etc. will not be covered.
Processing Charges
NIL
Repayment
- Repayment in EMIs to start 3 months after completion of course.
- Loan is repayable in EMIs for a period upto 8 years in case the loan amount upto Rs.7.50 lakh and upto 12 years in case the loan amount is more than Rs.7.50 lakh.
List of Premier Management Institutes
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1. Indian Institute of Management, Ahmedabad, Gujarat |
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2. Indian Institute of Management, Bangalore, Karnataka |
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3. Indian Institute of Management, Kolkata, West Bengal. |
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4. Xavier Labour Relation Institute (XLRI), Jamshedpur |
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5. Indian Institute of Management, Indore, Madhya Pradesh |
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6. Indian Institute of Management, Kashipur, Uttarakhand |
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7. Indian Institute of Management, Kozhikhode, Kerala |
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8. Indian Institute of Management, Lucknow, Utter Pradesh |
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9. Indian Institute of Management, Raipur, Chattisgarh |
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10. Indian Institute of Management, Ranchi, Jharkhand. |
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11. Indian Institute of Management, Rohtak, Haryana. |
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12. Indian Institute of Management, Shillong, Meghalaya |
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13. Indian Institute of Management, Trichhy, Tamil Nadu |
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14. Indian Institute of Management, Udaipur, Rajasthan |
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15. Indian Institute of Management, Bodhgaya, Bihar |
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16. Indian Institute of Management, Nagpur, Maharastra |
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17. Indian Institute of Management, Sirmour |
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18. Indian Institute of Management, Vishakhapatnam |
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19. Xavier Institute of Management, Bhubaneswar (XIMB). |
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20. SP Jain Institute of Management and Research (SPJMR), Mumbai. |
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21. Management Development Institute (MDI), Gurgaon. |
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22. Faculty of Management Studies (FMS) — University of Delhi |
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23. Jamnalal Bajaj Institute of Management Studies (JBIMS) |
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24. ISB-Hyderabad |
| 25. All IITs |
For further details please contact our nearest branch or call on the toll free no. 1800 22 1911