Educational loans for PGP 2012-13

Loans from Indian Banks/Institutions

The ISB has inked loan agreements with leading banks/institutions that provide funding to cover up to 95% of the programme cost.

Educational Loan covers tuition fees, living expenses, food, laptop and books.
Loans are offered at lowered/custmised interest rates. An additional privilege extended to the ISB students is that the loans are available without any collateral and no processing charges will be collected.
Over 70% of the ISB students have taken educational loans from banks in the past.
Life / Credit Shield Insurance is mandatory for the loan amount availed.
Only Indian passport holders are eligible to avail these loans.
In case you have been awarded a ISB tuition waiver at the time you were made an offer of admission, the amount you apply for an educational loan should be reduced by that extent
All admitted students will be provided with further details on how, when and whom to apply for this as part of the New Admits website.

Note: The details of loan facilities offered by various banks as mentioned above are for information purposes only. The particulars of the loan facilities shall be as per the sanction letters and loan agreements entered into between the bank(s) and the student(s).

Andhra Bank

EDUCATIONAL LOAN DETAILS
Maximum loan amount	20 Lakhs or 95% of the cost whichever is applicable (inclusive of insurance cover on the loan amount)
Interest rate	Option-1: FIXED RATE OF INTEREST Female students - 11.25% Male students – 11.75% Option-2: FLOATING RATE OF INTEREST (as of 6 Jan, 2012) Female students - 11.00% Male students - 11.50%
Repayment period	5 - 7 years
Moratorium	18 Months or soon after placement, whichever is earlier
Security	1) Co-applicant OR 2) Personal Guarantor (preferably parent or spouse) Acceptable by the bank
Payment of Interest	Will be collected as a part of the EMI after the moratorium
Pre-payment Charges	NIL
Insurance Cover	On the loan amount availed (Required)
Contact point	Hyderabad: Mr. S.S. R Murthy, Chief Manager Mob: 09985400570 Ms. Uma Maheswari Mob: 0-9959045322 Email: bmhydm1070@andhrabank.co.in Mohali: Mr. Narendra Kumar Ghai, Manager Mob: 0-9988345184; LL 0172-5044676 / 2220676 Email: bmcnd1054@andhrabank.co.in
	Loan Application Document Required

Credila Financial Services
(An HDFC Ltd. Venture)

EDUCATIONAL LOAN DETAILS
Maximum loan amount	20 Lakhs (Above 20 lakhs also available against suitable collateral)
Interest rate	12% (floating) 11.75% (Floating), if full loan disbursement is made to the ISB by March 30, 2012
Repayment period	Up to 10 years (including moratorium)
Moratorium	18 Months from the commencement of the programme or placement whichever is earlier
Security	1) Co-borrower is required as Father, Mother, Brother, Sister, Spouse 2) Lien on ISB Certificate and Transcript
Collateral	None up to 20 Lakhs
Pre-payment Charges	Waived. Upto 2 instances of part pre-payments allowed p.a.
Insurance Cover	On the loan amount availed (Required) from HDFC Ergo General Insurance.
Processing Fees	2000/- Flat
Contact point	Madhusudan Kota Mobile: 0-7799823111 Email:madhusudank@credila.com Dinesh Gehlot 0-9916120012 dineshg@credila.com Nilanjan Chattoraj Mobile: 0-97037 53636 nilanjanc@credila.com Landline: 040 32550320/32581944 Toll Free: 1-800-209-3636 or loan@credila.com Central Helpline: Vicky Francis Ph: 0253 - 3249276
	Loan Application Form

Union Bank of India

EDUCATIONAL LOAN DETAILS
Maximum loan amount	20 Lakhs or 95% of the cost whichever is applicable (inclusive of insurance cover on the loan amount)
Interest rate	Option-1: FIXED RATE OF INTEREST Female students - 11.5% Male students - 12% Option-2: FLOATING RATE OF INTEREST (as of 6 Jan, 2012) Female students - 11.15% Male students - 11.65%
Repayment period	7 years
Moratorium	18 - 24 Months or soon after placement, whichever is earlier
Security	1) Co-applicant OR 2) Personal Guarantor (preferably parent or spouse) Acceptable by the bank
Payment of Interest	Will be collected as a part of the EMI after the moratorium
Pre-payment Charges	NIL
Insurance Cover	On the loan amount availed (Required)
Contact point	C S Srinivas, Marketing Manager Union Loan Point, Saifabad Branch, Hyderabad Ph: 040 23420624; 8008705185 Email: css@unionbankofindia.com
	Loan Application Form Check-list Credit Info sheet

Other available Loans:

Narotam Sekhsaria Foundation

EDUCATIONAL LOAN DETAILS
Name of the Loan	Narotam Sekhsaria Merit Based Loan Scholarship
Amount of Loan	INR 15,00,000
Selection Criteria	Application and a personal interview in Mumbai in June, 2012
Moratorium	18 - 24 Months or soon after placement, whichever is earlier
Security	1) Co-applicant OR 2) Personal Guarantor (preferably parent or spouse) Acceptable by the bank
Eligibility criteria & Application Form	Available at www.nsfoundation.co.in/pg Click for Brochure
Pre-payment Charges	NIL
Dates for applying	Jan 10 till Mar 31, 2012

Educational Loan Details for PGP 2011-12

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