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EDUCATIONAL LOANS FOR PGP 2010-11
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Loans from Indian Banks/Institutions |
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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 interest rates starting from 8.5% per annum. 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 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.
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Credila Financial Services
(An HDFC Ltd. Venture)
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EDUCATIONAL LOAN DETAILS
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Terms and Conditions
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Maximum loan amount
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20 Lakhs (inclusive of insurance cover on the loan amount)
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| Interest rate |
10.25% (Floating) with complete moratorium
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10% (Floating) with simple interest repayment during course period
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| Repayment period |
Up to 10 years (including moratorium)
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| Moratorium |
18 Months from the commencement of the programme or placement whicever is earlier
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| Security |
i. Co-borrower is required as Father, Mother,
Brother, Sister, Spouse
ii. Lien on ISB Certificate and Transcript
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| Payment of Interest |
standard
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| Pre-payment Charges |
Waived. Part pre-payments allowed
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| Insurance Cover |
On the loan amount availed (Required)
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| Origination/Processing Fees |
5000/- Flat
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| Contact point |
Nilanjan Chattoraj
Mobile: 0-97037 53636
Landline: 040 32550320/32581944
Toll Free: 1-800-209-3636
Email: nilanjanc@credila.com / loan@credila.com
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HDFC Bank
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EDUCATIONAL LOAN DETAILS
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Terms and Conditions
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Maximum loan amount
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20 Lakhs or 95% of the cost whichever is applicable (inclusive of insurance cover on the loan amount)
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| Interest rate |
10.50% (Fixed)
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| Repayment period |
57 months
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| Moratorium |
15 Months from the commencement of the programme
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| Security |
Up to 12 Lakhs - Co-Borrower – Parent/Spouse
Up to 15 Lakhs - Co-Borrower + Lien on ISB Certificate and Transcript
Above 15 Lakhs – Collateral Security required
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| Payment of Interest |
Simple Interest to be remitted on a monthly basis during the academic year
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| Pre-payment Charges |
Nil - up to 2 pre-payments in a year
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| Insurance Cover |
On the loan amount availed (Required)
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| Contact point |
Please click here for list of contact details
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Indian Bank
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EDUCATIONAL LOAN DETAILS
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Terms and Conditions
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Maximum loan amount
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20 Lakhs or 95% of the cost whichever is applicable (inclusive of insurance cover on the loan amount)
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| Interest rate |
10.50% (Floating)
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| Repayment period |
7 years
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| Moratorium |
18 Months or soon after placement, whichever is earlier
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| Security |
Personal Guarantor (parent/spouse/sibling or third party) and Lien on ISB Certificate and Transcript
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| Payment of Interest |
Will be collected as a part of the EMI after the moratorium
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| Pre-payment Charges |
NIL
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| Insurance Cover |
On the loan amount availed (Required)
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Contact point |
K Sreedevi, Chief Manager
Indian Bank, Hyderabad Main Branch, Koti
Hyderabad 500 001
Ph: 040 4741625; Mob: 9908639788
Email: ibhydmain@rediffmail.com
K Harinath Babu, Branch Manager
Indian Bank, Gachibowli Branch
Hyderabad 500 032
Ph: 040 23000889; Mob: 9848172872
Email: gachibowli@indianbank.co.in
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State Bank of India
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EDUCATIONAL LOAN DETAILS
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Terms and Conditions
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Maximum loan amount
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20 Lakhs or 95% of the cost whichever is applicable (inclusive of insurance cover on the loan amount)
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| Interest rate |
Female – 9.75% (Floating)
Male – 10.25% (Floating)
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| Repayment period |
7 years
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| Moratorium |
15 Months or soon after placement, whichever is earlier
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| Security |
Personal Guarantor (parent/spouse/sibling or third party)
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| Payment of Interest |
Will be collected as a part of the EMI after the moratorium
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| Pre-payment Charges |
NIL
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| Insurance Cover |
On the loan amount availed (Required)
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| Contact point |
Suryanarayana: 09949031301
K Madhu: 09885041903
B S Subrahmanyam: 09949646727
Email: sbi.05916@sbi.co.in
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Union Bank of India
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EDUCATIONAL LOAN DETAILS
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Terms and Conditions
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Maximum loan amount
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20 Lakhs or 95% of the cost whichever is applicable (inclusive of insurance cover on the loan amount)
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| Interest rate |
Female students-10% (Fixed)
Male students-10.50% (Fixed)
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| Repayment period |
7 years
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| Moratorium |
18 - 24 Months or soon after placement, whichever is earlier
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| Security |
1) Co-applicant OR
2) Personal Guarantor (preferably parent or spouse)
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| Payment of Interest |
Will be collected as a part of the EMI after the moratorium
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| Pre-payment Charges |
NIL
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| Insurance Cover |
On the loan amount availed (Required)
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| Contact point |
C S Srinivas, Marketing Manager
Union Loan Point, Saifabad Branch, Hyderabad
Ph: 040 23420624; Mob: 9848113570
Email: css@unionbankofindia.com
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United Bank of India
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EDUCATIONAL LOAN DETAILS
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Terms and Conditions
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Maximum loan amount
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20 Lakhs or 95% of the cost (inclusive of insurance cover on the loan amount)
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| Interest rate |
Floating rate of 8.5% for female students and 9% for male students for loan up to 10 lakhs.
Floating rate of 9.5%for female students and 10% for male students for loan above 10 lakhs.
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| Repayment period |
7 years
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| Moratorium |
18 Months
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| Security |
1) Co-obligation of earning parent/spouse for loan up to 10 lakhs
2) Co-obligation of earning parent/spouse + third party guarantee for loan above 10 lakhs
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| Payment of Interest |
Will be collected as a part of the EMI after the moratorium
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| Pre-payment Charges |
NIL
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| Insurance Cover |
On the loan amount availed (Required)
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| Contact point |
Srinivas Rao, Manager, Yousufguda Branch, Hyderabad
Ph: 040 23740484
Email: bmyou@unitedbank.co.in
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If a student receives an educational loan, the ISB will be the primary recipient of the funding awarded, until the course cost is covered. Any amount above and beyond this will be passed on to the student
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The information provided in this window aims to be correct as far as possible at the time of publication, but we reserve the right to make changes to any or all the matter cited in this publication
Loans for PGP 2009-10
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