EDUCATION LOAN TO STUDENTS FOR PURSUING MBA FROM IIMs & OTHER PREMIER MANAGEMENT INSTITUTES
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 50.00 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%) + 1.55 (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]
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.180000/- 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 Premier Management Institutes |
|
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, Chhattisgarh |
|
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, Maharashtra |
|
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 |
|
22 |
National Institute of Industrial Engineering (NITIE), Mumbai now IIM, Mumbai |
|
23 |
Xavier Labour Relation Institute (XLRI), Jamshedpur & Jhajjar Campus |
|
24 |
Management Development Institute (MDI), Gurgaon |
|
25 |
GP & PGP-Pro Programme of ISB for Hyderabad |
|
26 |
MBA in International Business (Full Time) & Business Analytics from IIFT- Delhi & Kolkata Campuses |
|
27 |
PGP/MBA Programme of IIT Delhi |
|
28 |
PGP/MBA Programme of IIT Bombay / Shailesh J Mehta School of Management (SJSOM), IIT Mumbai |
|
29 |
PGP/MBA Programme of IIT Roorkee |
|
30 |
PGP/MBA Programme of IIT Madras |
|
31 |
PGP/MBA Programme of IIT Kanpur |
|
32 |
Indian Institutes of Technology (IIT), Madras |
|
33 |
Indian Institutes of Technology (IIT), Delhi |
|
34 |
Indian Institutes of Technology (IIT), Bombay |
|
35 |
Indian Institutes of Technology (IIT), Kanpur |
|
36 |
Indian Institutes of Technology (IIT), Roorkee |
|
37 |
Indian Institutes of Technology (IIT), Kharagpur |
|
38 |
Indian Institutes of Technology (IIT), Hyderabad |
|
39 |
Indian Institutes of Technology (IIT), Ropar |
|
40 |
Indian Institutes of Technology (IIT), Bhubaneshwar |
|
41 |
Indian Institutes of Technology (IIT), Jodhpur |
|
42 |
Indian Institutes of Technology (IIT), Jammu |
|
43 |
Indian Institutes of Technology (IIT), Bhilai |
|
44 |
Indian Institutes of Technology (IIT), Goa |
|
|
CATEGORY- AA INSTITUTIONS Premier Management & Other Institutes |
|
1 |
Xavier University for Bhubaneswar Campus (XIMB) |
|
2 |
Xavier School of Human Resource Management, (XSHRM), XUB-Bhubaneswar |
|
3 |
Xavier School of Rural Management (XSRM), XUB-Bhubaneswar |
|
4 |
SP Jain Institute of Management and Research (SPJMR), Mumbai |
|
5 |
Indian Institutes of Technology (IIT), Guwahati |
|
6 |
Indian Institutes of Technology (IIT), Indore |
|
7 |
Indian Institutes of Technology (IIT) BHU (Banaras Hindu University), Varanasi |
|
8 |
Indian Institutes of Technology (IIT) ISM (Indian School of Mines), Dhanbad |
|
9 |
Indian Institutes of Technology (IIT), Gandhinagar |
|
10 |
Indian Institutes of Technology (IIT), Mandi |
|
11 |
Indian Institutes of Technology (IIT), Patna |
|
12 |
Indian Institutes of Technology (IIT), Tirupati |
|
13 |
Indian Institutes of Technology (IIT), Palakkad |
|
14 |
Indian Institutes of Technology (IIT), Dharwad |
|
15 |
GP & PGP-Pro Programme of ISB for Mohali, Bangalore, Delhi & Mumbai Locations |
|
16 |
Faculty of Management Studies (FMS), Delhi |
|
17 |
Jamnalal Bajaj Institute of Management Studies (JBIMS)- Mumbai |
|
18 |
Narsee Monjee Institutes of Management Studies (NMIMS)- Mumbai |
|
19 |
IRMA- Anand |
|
20 |
PGP/MBA of IIFM-Bhopal |
|
21 |
Symbiosis Centre For Management & HRD (SCMHRD), Pune |
|
22 |
Symbiosis Institute of Business Management (SIBM), Pune |
|
23 |
Institute of Management & Technology (IMT) - Ghaziabad Campus |
|
24 |
Institute of Management & Technology (IMT)- Hyderabad Campus |
|
25 |
Institute of Management & Technology (IMT)- Nagpur Campus |
|
26 |
Bharathidasan Institute of Management (BIM), Tiruchirapalli |
|
27 |
TAPMI-Manipal (for MBA, PGDM & Engineering) |
|
28 |
NIFT-New Delhi |
|
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 |