IIM Education Loan I want to get the details regarding Special Education Loan Scheme offered by Central Bank of India to IIM Students? |
Re: IIM Education Loan Central Bank of India is a government-owned bank, is one of the oldest and largest commercial banks in India. It is based in Mumbai, Maharashtra. It is one of 18 Public Sector banks in India. The bank has 4600 branches, 5000 ATM's and 4 extension counters across 27 Indian states and three Union Territories. Special Education Loan Scheme to IIM Students Purpose of Loan Concessions/relaxations permitted to students of IIMs and 4 Reputed Institutions. Eligibility Students admitted to IIMs through the Common Admission Test (CAT) and pursuing two year full time management course. The scheme is also applicable to students pursuing full time regular management course (through XAT/CAT) in the four reputed institutes. The scheme is not applicable for any part time courses or one year courses Margin Nil Quantum of finance- Rs.20.00 lakh More than 20 lacs is allowed provided 100% liquid collateral equal to loan amount given. Security: No collateral Security. No third party guarantee. Assignment of future income of the student. 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 Visit to foreign universities in Exchange Programme. Living Expenses upto Rs.120000/- p.a. on declaration basis 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. The list of IIMs and 4 other reputed institution IIMs Indian Institute of Management, Ahmedabad, Gujarat Indian Institute of Management, Bangalore, Karnataka Indian Institute of Management, Kolkata, West Bengal Indian Institute of Management, Indore, Madhya Pradesh Indian Institute of Management, Kashipur, Uttarakhand Indian Institute of Management, Kozhikhode, Kerala Indian Institute of Management, Lucknow, Utter Pradesh Indian Institute of Management, Raipur, Chattisgarh Indian Institute of Management, Ranchi, Jarkhand. Indian Institute of Management, Rohtak, Haryana. Indian Institute of Management, Shillong, Meghalaya Indian Institute of Management, Trichhy, Tamil Nadu Indian Institute of Management, Udaipur, Rajasthan Other 4 Reputed Institutions Xavier Labour Relation Institute (XLRI), Jamshedpur. Xavier Institute of Management, Bhubaneswar (XIMB). SP Jain Institute of Management and Research (SPJMR), Mumbai. Management Development Institute (MDI), Gurgaon. |
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