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Financing
Financial assistance by way of tuition fee loans is available to
participants of this programme. Details of
the loans available and the terms and conditions are given
below. Please note
that the sanction of loans is at the complete discretion of the
financial institutions.
| S.NO |
Target Group |
Features |
| 1 |
Name of the Bank |
Union Bank of India |
| 2 |
Eligibility |
Executives who secure
admission in ISB, Hyderabad for PGPMAX
course for the academic year 2010-11 only. |
| 3 |
Purpose |
To meet tuition fees,
cost of books, hostel/ mess charges/
equipment including laptop/ living expenses
etc. |
| 4 |
Margin |
Minimum margin of 5%,
irrespective of the amount of loan. |
| 5 |
Rate of Interest |
10.50% (Fixed) for
both Male & Female
*The interest is to be recovered from the
candidate from succeeding month of
disbursement, i.e., during the course
period. Though the interest is recovered
during the moratorium period, no further
concession in interest rate is permitted. |
| 6 |
Quantum of Loan |
Maximum INR 2,000,000 (20 Lacs) |
| 7 |
Processing Charges |
Nil |
| 8 |
Repayment Period |
7 years (maximum) |
| 9 |
Repayment Holiday/
Moratorium Period |
Interest will be
serviced during the course period.
EMI will start from the succeeding month
after completion of the course. |
| 10 |
Security |
Parent or Spouse
should be made as co-applicant or personal
guarantor. |
| 11 |
Other Terms &
Conditions |
Term life policy for the loan amount
in the name of the executive to be
obtained and assigned in favour of the
bank. All other terms and conditions as per
Union Education Scheme. |
| 12 |
Where to apply |
The nearest branch of Union Bank of
India in your city of residence or as
advised by the PGPMAX office from time
to time. |
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Top
| S.NO |
Features |
Terms and
Conditions |
| 1 |
Name of the Bank |
Credila (An HDFC
Limited Venture) |
| 2 |
Maximum Loan Amount |
INR 2,500,000 (25
Lakhs) inclusive of insurance cover on the
loan amount |
| 3 |
Interest
rate |
10.25% (Floating) with
complete moratorium |
| 10% (Floating) with
simple interest repayment during course
period |
|
4 |
Repayment period |
Up to 10 years
(including moratorium) |
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5 |
Moratorium |
18 Months from the
commencement of the programme or placement
whichever is earlier |
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6 |
Security |
i. Co-borrower is
required (Any family member or relative) |
| ii. Lien on ISB
Certificate and Transcript |
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7 |
Payment of Interest |
Standard |
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8 |
Pre-payment Charges |
Waived. Part
pre-payments allowed. |
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9 |
Insurance Cover |
On the loan amount availed (Required) |
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10 |
Origination/Processing
Fees |
NR 5,000/- Flat |
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11. |
Contact point |
Nilanjan Chattoraj
Mobile: +91 97037 53636
Landline: +91 (40) 32550320/32581944
Toll Free: 1-800-209-3636
Email:
nilanjanc@credila.com or
loan@credila.com |
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