#1
4th November 2015, 11:29 AM
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Central Bank of India IIM Lucknow Loan
Can you tell me in detail about the Special Education Loan scheme to IIM Lucknow students by Central Bank of India as I want to apply for it for my son?
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#2
4th November 2015, 02:56 PM
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Re: Central Bank of India IIM Lucknow Loan
Central Bank of India, a government-owned bank, is one of the oldest and largest commercial banks in India. It has overseas office at Nairobi, Hong Kong and a joint venture with Bank of India, Bank of Baroda, and the Zambian government. IIM Lucknow Loan Purpose of Loan Concessions/relaxations permitted to students of IIM Lucknow Eligibility Students admitted to IIM through the Common Admission Test (CAT) and pursuing two year full time management course. It is not applicable for any part time courses or one year courses Quantum of Finance Rs.20.00 lakh More than 20 lacs are allowed provided 100% liquid collateral equal to loan amount given. Margin Nil Security: No collateral Security. No third party guarantee. Assignment of future income of the student Salary to be routed through account maintained with our branch. Insurance Comprehensive life insurance policy for the student availing Educational Loan to the minimum of loan amount for a minimum period of loan term assigned in favour of the Bank. Premium to be paid regularly by the borrower Rate of Interest Male students without joint borrower: Base Rate + 0.50% Male students with joint borrower: Base Rate Female/SC/ST/Minority Community students: Base Rate Expenses considered for loan Fee payable to college/ school/ hostel Examination/ Library/ Laboratory fee Travel expenses Insurance premium for student borrower, if applicable Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts. Purchase of books/ equipments/ 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, etc. Visit to foreign universities in Exchange Programme. Living Expenses upto Rs.120000/- p.a. on declaration basis Central Bank of India IIM Lucknow Loan |
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