Central Bank Loan

Central Bank Education Loan

Disclaimer:

Since the rules, regulations, eligibility conditions, repayments and interests rates etc are revised by the banks from time to time. students and parents are advised to check thoroughly the terms and conditions of educational loan scheme of respective bank on offer at the time of application.

Scheme for financing Executive MBA

Eligibility:

The student should be an Indian National with minimum work experience of 2 years in Government/ Corporate/Multinational concern.
The minimum age of the student should be 23 years.
Should have secured admission or intimation of final selection to Executive MBA programme of a reputed institution in India or abroad.

Co-borrower:

The condition of co-borrower is compulsory. The co-borrower / joint borrower should normally be parent(s)/guardian of the student borrower. In case of a married person, joint borrower can be spouse or the parent(s)/parents-in-law.

Quantum of loan:

Rs.20.00 lakh. More than 20 lacs is allowed provided 100% liquid collateral equal to loan amount given.

Margin: NIL

Security:

No collateral security, except assignment of present as well as future income of the student.
Insurance Policy on the life of the student availing Educational Loan to the extent of at least loan amount for a minimum period of loan term (i.e., course period + moratorium period + repayment period) assigned in favour of the Bank. Premium to be paid regularly by borrower

Rate of Interest:

For students pursuing Exe.MBA in IIMs and 4 other reputed institutes: (Schedule A)

Male Students - Base Rate + 0.50%.
Female/SC/ST/Minority Community Students - Base Rate.

For students pursuing Exe.MBA in other institutes (Schedule B)

Base Rate + 1.25% (no concession for Female/SC/ST/Minority Community Students)

Processing Charges: NIL

Repayment:

Repayment in EMIs to start 3 months after completion of course.
Loan is repayable in EMIs for a period upto 8 years in case the loan amount upto Rs.7.50 lakh and upto 12 years in case the loan amount is more than Rs.7.50 lakh.

LIST OF INSTITUTES WHOSE STUDENTS ARE ELIGIBLE FOR FINANCE UNDER EXECUTIVE MBA

SCHEDULE - A
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
5	Indian Institute of Management, Kashipur, Uttarakhand
6	Indian Institute of Management, Kozhikhode, Kerala
7	Indian Institute of Management, Lucknow, Utter Pradesh
8	Indian Institute of Management, Raipur, Chattisgarh
9	Indian Institute of Management, Ranchi, Jarkhand.
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	Xavier Labour Relation Institute (XLRI), Jamshedpur.
15	Xavier Institute of Management, Bhubaneswar (XIMB).
16	SP Jain Institute of Management and Research (SPJMR), Mumbai.
17	Management Development Institute (MDI), Gurgaon.
SCHEDULE - B
1	Symbiosis Institute of Management
2	Faculty of Management Studies (FMS) - University of Delhi
3	Jamnalal Bajaj Institute of Management Studies (JBIMS)
4	Indian Institute of Foreign Trade - IIFT
5	Indian School of Business (ISB) - Hyderabad