Scholar Loan. IIM, XLRI, JIPMER, IIFT, MARINE, MEDICAL, ANNA UNIVESITY

SCHOLAR LOAN

Education Loans to students securing admissions in:
The country’s best engineering colleges
The nation’s elite medical colleges
India’s top B-Schools

Eligibility
A term loan granted to Indian Nationals for pursuing higher education in India in the following institutions.

1. IIM, Ahmedabad
2. IIM, Bangalore
3. IIM Indore
4. IIM, Kozikode
5. IIM, Kolkata
6. IIM, Lucknow
7. IIM, Shillong
8. IIT Mumbai
9. IIT Kanpur
10. IIT Chennai
11. IIT Kharagpur
12. IIT Guwahati
13. IIT Delhi
14. IIT Roorkee
15. IIT Gujrat
16. IIT Punjab
17. IIT Rajastan
18. IIT Hyderabad
19. IIT Bihar
20. IIT Orissa
21. CMC Vellore
22. Bangalore Medical College, Bangalore
23. JIPMER, Pondicherry
24. Madras Medical College, Chennai
25. Grant MedicalCollege, Mumbai
26. AFMC, Pune
27. King Edward Medical College, Mumbai
28. Maulana Azad Medical College, Delhi
29. AIIMS, Delhi
30. LHMC, Delhi
31. PGIMER, Chandigarh
32. NID, Ahmedabad
33. Nirma Institute of Management
34. FMS, Delhi
35. Indian Institute of Foreign Trade, Delhi
36. IMT, Ghaziabad
37. Dept of Management Studies, IIT, Delhi
38. Indian Institute of Forest Management Bhopal
39. Mudra Institute of Communication, Ahmedabad
40. Marine Engg College, Kolkata
41. IISc, Bangalore
42. Institute of Rural Management, Anand
43. IT BHU, Banaras
44. Dept of Indl & Management Engg IIT, Kanpur
45. NITIE, Mumbai
46. NMIMS, Mumbai
47. KMC, Manipal
48. IIT-SJSOM, Mumbai
49. Jamnalal Bajaj, Mumbai
50. S P Jain, Mumbai
51. Delhi College of Engg., Delhi
52. TISS, Mumbai
53. BITS, Pilani
54. XIM, Bhubaneswar
55. Symbiosis Institute of Business Management, Pune
56. XLRI, Jamshedpur
57. ISM, Dhanbad
58. MDI Gurgaon
59. Anna University, Chennai

Salient Features

Option to avail loan at Campus or branch nearer to permanent residence
Option to transfer loan account to a branch convenient to student for repayment.
Student can avail a second education loan for higher studies provided the institution and fees fall within criteria.

Loan amount
Maximum loan amount upto Rs.15 lacs

Expenses covered

Fees payable to college/school/hostel
Purchase of books/equipments/instruments
Travel expenses/expenses on exchange programme
Purchase of computer/laptop
Any other expenses related to education

Interest Rate

1.5% below SBAR effective rate 12.25% p.a. (floating)

Repayment
Moratorium upto course duration plus six months
Flexible repayment period upto 7 years.

Security

No security.
Co-borrower (Parent/guardian as co-borrower at Bank’s discretion)

Margin

Nil upto Rs.4 lacs
5% above Rs.4 lacs

Documentation Required

Letter of admission
2 passport size photographs
Proof of identity (driving licence/passport/PAN/any photo identity)
Proof of residence (driving licence/passport/electricity bill/phone bill)
Statement of expenses