IDBI Bank Educational Loans | www.idbi.com
Website : www.idbi.com/
Bank Type : Nationalized Bank
Graduation: For job oriented professional/ technical courses offered by reputed universities.
Post graduation: MCA, MBA, MS, etc. Courses conducted by CIMA- London, CPA in USA etc.
Provided study loan amount in India : Upto 10 Lakhs
Provided study loan amount in Abroad : Upto 20 Lakhs
For UG Courses : Min. 75% in +2 stage. For PG Courses : First class in UG courses.(In addition to the above, for foreign universities, TOEFL, GRE, GMAT scorecard and I-20 admit card are essential). For Indian Universities :Not more than 30yrs. For International Universities :Not more than 35yrs.
Fee payable to college/ school/ hostel.Examination/ Library/ Laboratory fee.Purchase of books/ equipments/ instruments/ uniforms.Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipts.Travel expenses/ passage money for studies abroad Purchase of computers – essential for completion of the course.Any other expense required to complete the course – like study tours, project work, thesis, etc.Insurance premium for student borrower.
Studies in India – upto Rs. 4 lac- Nil.above Rs. 4 lac- 5% of the total course expenses.Studies abroad – 15% of the total course expenses
Interest Rate :
Upto Rs 4 lacs : BPLR – 1% p.a (12.25%).Above Rs 4 lacs : BPLR p.a. (13.25%)
The repayment of loan to begin after the course period + 1 year or 6 months after getting a job, whichever is earlier. The loan to be repaid within 5-7 years (maximum tenor 84 months) after commencement of repayment.
Equitable mortgage property/pledge of NSC, KVP, Bank deposits,shares, LIC policy etc