Loans

Financial assistance in the form of loans may be available to participants of this programme. Interested applicants may directly contact the financial institutions for details.

Indian Bank
Logo
 
Maximum loan amountNeed based loan limit upto Rs 30.00 lakh
Interest rate1 Year  MCLR at present 8.35% pa  (No other Interest concession available for girl students)
 
Repayment periodMaximum repayment period is 15 years excluding moratorium period
Moratorium periodCourse Period + 1 Year (or) after getting Job whichever is earlier
Collateral securityNIL (Parent / Guardian / Spouse will have to stand as co-applicant)
Pre payment chargesNIL
Insurance coverLife Insurance Policy is mandatory for the loan limit sanctioned covering the entire loan period
Contact pointHyderabad, Gachibowli branch
Mr. N Prasanna Kumar
Indian Bank
H.NO 2-29/1/14/C, Plot No 12-16
Cyber Apartments, Indira Nagar
Gachibowli, Hyderabad
Contact No: 040-23000889
Mobile No: 9848172875
E-mail: gachibowli@indianbank.co.in
 
Zonal office 
Mrs. S Bavani
Indian Bank, Zonal Office
4th Floor, Liberty Plaza
Himayatnagar, Hyderabad
Mobile No: 7036248811
E-mail: bavani.s@indianbank.co.in
 

Axis Bank Ltd
Contact:
Name: Mr. Pramod Shetty
Mobile: +91 9538397788
Credila Financial Services Ltd
Contact: 
Name: Mr. Chakravarthy
Mobile: +91 7799823111
Email: chakravarthym@credila.com

Name: Vicky Francis
Mobile: +91 9823736643
Email: vickyf@credila.com
 
Customer Service
Toll-Free: 1-800-209-3636
Email: loan@credila.com
 
ORIENTAL BANK OF COMMERCE

Purpose

The scheme aims at providing financial support to meritorious students pursuing PGP course at ISB & all regular courses conducted by the institution

Eligibility

  • An Indian National
  • Secured admission through normal selection process on merit (excl. mgmt quota)
  • More than 1 member of the same family can be allowed loan, if eligible, as per scheme

Components of finance

  • Fee payable to institution along with reasonable lodging & boarding charges
  • Examination, Library, Laboratory Fee etc.
  • Caution money deposit subject to 10% of tuition fee
  • Purchase of computer / essential equipments / books
  • Insurance premium of student borrower
  • Any other expenses duly approved by the institution

Amount of loan

  • 100 % funding without collateral, without margin & without Parental/spouse co-obligation.  EMI commences immediately on the disbursed amount proportionately.
     
  • 15 % margin without collateral and without Parental / Spouse co-obligation.  EMI commences after the moratorium period (12 months after completion of the course or 6 months after getting the job whichever is earlier)

Margin

NIL

Rate of Interest

1 YEAR MCLR (currently @ 8.40%)

Application of interest

Simple interest will apply during moratorium period (Study period + Grace Period) and thereafter interest will compound

Security

No Parental/spouse Co-obligation.
 

Processing Charges

NIL

Prepayment Charges

NIL

Documentation Charges

NIL

Collateral Security

NIL

EMI option

Standard

Repayment period

15 Years (irrespective of loan amount)

Insurance

On the loan amount availed (Required)

Moratorium

12 months after completion of the course or 6 months after getting the job whichever is earlier

Contact Details

HYDERABAD

Mrs. G Saritha Jyothi, Sr. Branch Manager, Mobile: 9989804446

Mr. Vamsee Mohan, Chief Manager, Mobile: 9000021750

Mr. Dheeraj  (Loans Department), Mobile: 8885220273