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4th November 2015, 02:56 PM
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Join Date: Apr 2013
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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