Upto Rs..4 lacs | Nill | |
Above Rs. 4 lacs | Studies in India | 5% |
Studies Abroad | 15% |
Upto Rs..4 lacs | Parents to be joint borrower(s).No security. Collateral free limit of Rs.4 lakh is student specific and not family specific. More than one loan can be considered for other siblings in the same family even when one of the siblings has already availed a collateral free loan. |
Above Rs.4 lakh & upto Rs.7.5 lakh | Besides the parent(s) executing the documents as joint borrower(s), collateral security in the form of suitable third party guarantee will be taken. |
Above Rs.7.5 lakhs | Parent(s) to be joint borrower(s) Tangible collateral security of suitable value acceptable to bank along with the assignment of future income of the student for payment of installments. |
Up To Rs. 7.50 Lakhs | Base Rate+2.75% |
Above Rs. 7.50 Lakhs | Base Rate+1.50% |
Sno. | Name of the Premier Institute | Nature of concessions offered |
---|---|---|
1. | Indian Institute of Technology(I.I.T.) | Maximum Loan Limit: Rs.20Lakh Margin : 10% Rate of interest:Base Rate (floating) (No further concessions for Girl Child/Merit/Staff children students). Collateral Security : i. Up to 10 lakhs : Nil ii. Above 10 lakhs : 50% of the limit sanctioned. Co-obligation: Up to Rs.4.00 lacs :- Parents to be joint borrowers. Above Rs.4 lacs :- Parents to be joint borrowers. Coobligation of earning parent/spouse or third party in case parent/spouse has no earnings. |
2. | Birla Institute of Technology and Science (BITS) | |
3. | Indian Institute of Management (IIM) | |
4. | Xavier Labour Relations Institute (XLRI) Jamshedpur. | |
5. | Management Dev. Institute (MDI)-Gurgaon | |
6. | SP Jain Institute of Management and Research (SPJJMR)- Mumbai | |
7. | Indian Institute of Management-Ahmedabad | Maximum Loan Amount : Rs.20 Lakhs Margin : 10% Rate of Interest: Base Rate (floating) (No further concessions for Girl Child/Merit/Staff children students). Collateral Security :No collateral security required. Co-obligation: Up to Rs.4.00 lacs : Parents to be joint borrowers. Above Rs.4.00 lacs : Parents to be joint borrowers. Coobligation of earning parent/spouse or third party in case parent/spouse has no earnings. PAN Card of the student is compulsory |
8. | International Institute of Information Technology, Gachibowli, Hyderabad | Maximum Loan Amount :Rs.7.50 Lakhs Margin : Up to Rs.4.00 lakhs : Nil Above Rs.4.00 lakhs : 10.00% Rate of Interest:Base Rate (floating) (No further concessions for Girl Child/Merit/Staff children students). Collateral Security :No collateral security required. Co-obligation: Up to Rs.4.00 lacs :Parents to be joint borrowers. Up to Rs.4.00 lacs :Parents to be joint borrowers. Coobligation of earning parent/spouse or third party in case parent/spouse has no earnings. PAN Card of the student is compulsory. |
9. | Institute of Mgt. Technology (IMT) | Maximum Loan Amount :Rs.20.00 Lakhs Margin : 10.00% Rate of Interest: Base Rate +1.25% for Male students Base Rate+0.75% for female students (No further concessions for Girl Child/Merit/Staff children students). Collateral Security :Not less than 50% of the limit sanctioned. Co-obligation:Coobligation of earning parent/spouse. |
10. | Somaiya Instt. Of Mgt. Studies and Research. | |
11. | Jaman Lal Bajaj Instt. Of Mgt. Studies (JBIMS) | |
12 | Netaji Subash Instt. Of Technology (formerly Delhi university of Technology) NSIT | Maximum Loan Limit:Rs.3.80 Lakhs Margin :Nil Rate of interest: Base Rate +1.25% for Male students Base Rate+0.75% for female students (No further concessions for Girl Child/Merit/Staff children students). |
13 | Indian School of Business (ISB), Hyderabad and Mohali | Maximum Loan Limit:Rs.25 lakhs Margin : 5% Rate of interest:Base Rate (floating) (No further concessions for Girl Child/Merit/Staff children students). Collateral Security: No collateral security required. |