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Education Loan for ISB
1
Eligibility
Students who secure admission in Indian School of Business (ISB) at Hyderabad / Mohali campus and cohorts at Mumbai, Bengaluru, New Delhi & Hyderabad for the academic year 2024-25 for the following courses are:
The scheme does not cover any other executive courses and short duration courses / programmes at ISB.
2
Purpose
To meet tuition fees, cost of books, caution deposit (refundable)*, hostel charges, mess charges, desktop/laptop/tablet**, living expenses, insurance premium, student exchange programme, admission acceptance fee, etc.
Note:
3
Quantum of Loan
Rs.50.00 lakh
(The maximum loan amount to individual student will be arrived based on the fee structure provided by the institute. As per the scheme norms no margin is stipulated i.e., maximum 100% finance of the cost of course can be offered to students of ISBs. However, any expenses over and above maximum quantum of loan i.e. Rs.50.00 lakh to be borne by the borrower.)
Maximum quantum mentioned above is inclusive of Rs.4.00 lakh for Student Exchange Programme for PGPM course. This can be considered initially or as and when student requires.
4
Margin
Nil
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Rate of Interest
EBLR-1.10% i.e. 8.20% floating at present:
6
Course Duration
As per the respective courses:
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Reimbursement of Fee
Admission acceptance fee (AAF):
As per the admission procedures, the student has to remit an amount of Rs.2.50-3.00 lakh to the institute within a short period of 10-20 days to confirm the selection. After this payment, the student approaches us for loan. In such cases, the branches are permitted for reimbursement of AAF within the overall limit
1st or 2nd term fee
If the borrower temporarily arranges for the funds to pay 1st or 2nd term fee, then the same can be reimbursed to the student, upon request.
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Student Exchange Programme
‘Student Exchange’ programme for PGPM course:
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Processing Charge
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Repayment Period
Maximum repayment tenure will be 15 years after course & moratorium period.
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Moratorium Period
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Co-Applicant
/ Guarantor
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CIC(CIBIL) Score
The minimum CIBIL Score of the applicant should be 650 & above to become eligible under the scheme
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Security
No collateral security or third-party guarantee is required, irrespective of the loan amount
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Insurance
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2ND Educational Loan
Students, who have earlier availed educational loan from our or any other bank for graduation studies, may approach us for sanction of (second) educational loan under this special scheme. As most of the students would have completed a few years of employment, they may continue to repay or may request for a repayment holiday from the bank with whom the loan is outstanding. In such cases, the guidelines are as under:
If the repayment of the first loan is yet to commence, anyone of the following to be ensured:
If the repayment of the first loan has commenced, both the following conditions are to be ensured
In both the above scenarios, it should be ensured that the total of outstanding balance of first loan and the limit proposed to be sanctioned under the special educational loan scheme for ISB (for academic year 2024-25) should not exceed maximum quantum of loan Rs.50.00 lakhs.
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Take Over of Education Loan of ISB Student
To permit the following:
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Other Term & Conditions
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Loan for 2nd term of Academic year 2024-25
EDUCATION LOAN EMI CALCULATOR
Please Click here for EMI Calculator
**Contact our nearest Branch for more details**