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Axis Bank
✔ Collateral free loan
✔ No prepayment Charges/Foreclosure Charges
✔ Repayment Tenure as Long as 15 Years with a very low EMI
✔ 100% Tax Benefit for interest paid under Sec (80E)
AXIS BANK EDUCATION LOAN-TERM AND CONDITIONS* |
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INDIAN SCHOOL OF BUSINESS, HYDERABAD |
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S No |
Parameters |
Details |
1 |
Eligibility |
Student should be an Indian National & have secured admission on merit basis through entrance test/selection process of the Institute |
2 |
Course Name |
PGP |
3 |
Unsecured Loan Amount |
Unsecured Loan Amount up to Rs.50 Lakhs |
4 |
Repayment Type/ Repayment Tenure/ROI |
Immediate EMI - 10 yrs - 8.25% Moratorium Applicable (Course period + 6 months) - 15 yrs - 8.25% |
5 |
Margin |
5% Margin on loan amount have above 4 Lakhs |
6 |
Processing Charges |
Applicable as per Bank norms |
7 |
Loan Disbursement |
To the Institute (Indian School of Business) |
8 |
Co-Applicant |
Applicable as per Axis Bank norms for Principal Moratorium Cases* |
9 |
Insurance |
Max Life Insurance |
10 |
Axis Bank Contact |
Jagadishwar Reddy +91-9959681469 patlolla1.reddy@axisbank.com Mr. Lakshmikanth Samaya Mobile No: +91-8297133888 Email ID: lakshmikanth.samaya@axisbank.com |
*Approval, Sanction and Disbursement Subject to Banks internal policy checks, process and eligibilty.
Avanse
Maximum loan amount |
Upto 34 lacs without security |
Margin Money |
Not Required |
Repayment Period |
10 years |
Moratorium period |
12 months course + 6 months grace period ( Simple Interest to be paid during moratorium) |
Rate of Interest |
9.75% |
Repayment Options |
EMI/ SI/ Part simple interest (2,000 p.m.) |
Processing Fee Amount |
5000 + tax |
Insurance Cover |
Required |
Collateral Security |
Not Required |
Co-borrower |
Relationship Self (applicant) as primary co-borrower |
Pre-payment Charges |
No pre-payment and part payment charges |
Contact Point |
Venkata Rao Pallanti Toll-free : 1800-833-6333 | SMS: AVANSE to 56677 |
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Loan Application | Checklist |
Bank of Baroda
Maximum loan amount |
40 lacs |
Margin Money |
Nil |
Repayment Period |
- For loans up to Rs. 7.50 lakhs: Maximum 10 years (excluding moratorium) - For loans above Rs. 7.50 lakhs: Maximum 15 years (excluding moratorium) |
Moratorium period |
Course period + 1 year |
Rate of Interest |
Starting from @BRLLR + 0.25 i.e. 7.65% |
Repayment Type |
EMI/Simple Interest/Token Amt/Complete Moratorium |
Processing Fee Amount |
Nil for loan up to Rs. 40 lakhs |
Collateral Security |
- Up to Rs. 40.00 lakhs: Co-obligation of parents/guardian and assignments of future income. - Above Rs. 40.00 lakhs: Tangible collateral security equal to 100% of the loan amount plus assignment of future income |
Pre-payment Charges |
Nil |
Contact Point |
Hyderabad- ELSC Hyderabad Zone, 3-6-262/6, Thirumala Estates, 3rd Floor, Himayathnagar, Hyderabad- 500029- Email- elsc.hyderabad@bankofbaroda.co.inMr Point(s) of Contact: for Sales Mr. Venkata Rao P Mobile No: 8142400094 Mr Nagaraju Jain Mobile No: 7702755159 Mr Pieuesh Priyadarshi Chief Manager, ELSC Hyderabad Mobile No: 9470565644 MS - Santhi Supriya Officer Mobile No: 9866556944 |
Bank of India
Maximum loan amount |
40 Lakhs |
Interest rate |
RBLR (Presently - 6.85%) |
Repayment period |
15 Years (Excluding Moratorium Period) |
Moratorium |
Course Period + 1 year (optional) |
Margin Money |
NIL |
Collateral Security |
NIL |
Processing Fee Amount |
NIL |
Pre-payment Charges |
NIL |
Insurance Cover |
The Insurance policy to be obtained at the option of the student |
Co-borrower |
Co-obligation of parents/guardian as co-borrowers. Can be waived off in certain cases |
Contact point |
Kiran Reddy Kallem Marketing Executive, Gachibowli branch (M): 9177694804 |
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Loan Application | Checklist |
Canara Bank
Application type |
Online / offline application |
Eligibility |
Resident students of ISB Hyderabad / Mohali |
Quantum of loan |
Up to Rs. 40 Lakhs. |
Rate of interest |
8.30% |
Processing fee |
NIL |
Margin |
NIL |
Security |
1. No Collateral Security or Guarantor is required. |
Repayment tenure |
Repayment period is upto 15 years |
Maximum processing time |
48 hours |
Moratorium |
1. Study Period plus 1 year or 6 months after getting job, whichever is earlier. 2. Simple interest till completion of course and moratorium period. |
Repayment Penalty |
No prepayment penalty and Pre-Closure Charges |
Other Details |
All Educational loans under Vidya Turant can be covered under CSIS Scheme (Central Scheme for interest Subsidy for ELs up to 10 Lakhs for those students whose parental /family income upper limit is Rs.4.50 Lakhs). The interest subsidy is equal to the interest debited to the account during the course period moratorium period (1year+1year). |
Contact point |
Canara Bank, Madhapur Plot no: 20 & 21, Behind Bata Showroom |
Documents |
Canara Loan Application | Checklist |
Central Bank
Maximum loan amount |
40 lacs |
Margin Money |
Nil |
Repayment Period |
8 Years(Excluding moratorium period) for Limit upto Rs 7.50 lacs 12 yrs(Excluding moratorium period) for limits above Rs.7.50 lacs |
Moratorium period |
Course period + 3 months |
Rate of Interest |
6.7% |
Repayment Options |
Monthly repayment of EMI with option for bullet repayment |
Processing Fee Amount |
Nil |
Insurance Cover |
Comprehensive life insurance policy for the student availing Educational Loan equivalent to loan amount, for a minimum period of loan term i.e., course period + moratorium period +repayment period) assigned in favour of the Bank |
Collateral Security |
No collateral security, except assignment of present as well as future income of the student |
Co-borrower |
Not mandatory |
Pre-payment Charges |
Nil |
Contact Point |
Mr Debashish Choudhury Mobile No: 6304903731 Mrs R Swetha Mobile No: 9959158658 Mr Varun Verma Mobile No: 9959158658 Hyderabad - Kukatpally branch Mr Sakaray Srinivas Mobile No: 6304903731 Mr K. Vijay Kumar Mobile No: 9618978883 |
HDFC Credila
Maximum loan amount |
Up to 45 Lakhs (Unsecured/Secured options available) |
Interest rate |
8% (Floating) |
Repayment period |
Up to 168 months. |
Acceptable Security/Collateral |
Immovable Property, Fixed Deposit. |
Co-borrower |
Father, Mother, Spouse. |
Income Tax Benefit |
Yes, possible under section 80E of the Income Tax |
Margin |
NIL |
Key Benefits |
Loan covers 100% of the cost Co-borrower Flexibility – Multicity Co-Borrower Accepted Education loan at your Door Step Repayment tenor up to 14 years Preserve your family savings for emergencies and you may get better returns by investing. Empower you to take your own financial responsibilities and also build a good credit history. |
Contact point |
HDFC CREDILA ‘s Dedicated Relationship Managers – Mr. Pradeep Nag Singh – 7799834111 Email : pradeepnags@hdfccredila.com Mr. Dibyananad Behera – 7391058833 Email : dibyananda.behera@hdfccredila.com OR Email: prasadr@hdfccredila.com For any Queries Elink: https://hdfccredila.viewpage.co/mba_ISB |
Indian Bank
Loan Limit |
Need based to meet expenses for completion of the course. Reimbursement is allowed for fee paid by the student if any, for the 1st semester. |
Margin |
Executive Management Program / Executive MBA (on Part time/ Distance Education mode to working professionals): – 25% For other courses(PGP- 1 year full time /Residential programme): – 15% However loan upto 100% (with Nil margin) can be considered. |
Rate of Interest (linked to Banks EBLR) |
With Co applicant ROI is 8.25% Without Co applicant ROI is 8.35% |
Security |
NIL for Loan upto Rs 40.00 Lac |
Moratorium Period |
For PGP- 1 year full time /Residential Program: Course Period + 1 Year For Executive Management Program / Executive MBA (viz. on Part time/ Distance Education mode to working professionals): NIL |
Repayment |
For PGP- 1 year full time /Residential Program: 180 EMIs/PMIs after the moratorium period Executive Management Program / Executive MBA ( on Part time/ Distance Education mode to working professionals): 120 EMIs commencing from the next month after first disbursement. |
Processing Fee |
Negotiable |
Insurance |
Group Life Insurance Policy for the Loan amount sanctioned covering the entire period of loan is mandatory [IB Vidhyarthi Suraksha (PNB Met Life) /New IB Jeevan Vidya (LICI)] or under any other policy as desired by the student |
Co borrower |
Co borrower is optional |
Income Tax benefit |
Yes, Under Section 80E of the Income Tax Act |
Sanctioning Authority |
Upto Rs. 35 Lacs by branch More than Rs. 35.Lacs - by Respective Zonal Office |
Contact |
Smt S Kalyani, Chief Manager - 9848172875/9444218960 Smt. Prohelee Das, Loan officer -040-2300 0889/7569155014 Email: gachibowli@indianbank.co.in Gachibowli Branch, Hyderabad.
Mr. Kuldeep Singh –Branch Manager- 7986352538 Ms.Bhumika Rathore –ABM- 9872547443 Indian School of Business (On campus), Mohali Email: isbmohali@indianbank.co.in |
IDFC First Bank
Maximum loan amount |
As per eligibility* |
Repayment Period |
Up to 144 months |
Rate of Interest |
8% |
Repayment Options |
EMI / SI / Partial SI / Moratorium* |
Processing Fee Amount |
5000 + tax* |
Insurance Cover |
Required |
Co-borrower |
Yes |
Contact Point |
Rajesh Modem – 9550765234 rajesh.modem@idfcfirstbank.com Toll-free : 1860-500-9900 |
*TnC - Approval, Sanction & Disbursement and Repayment subject to Banks internal policy checks, process and eligibility
ICICI Bank
Maximum loan amount Unsecured loan amount |
Min INR 1 Lakh and Max Up to INR 50 Lakhs INR 40 Lakhs |
Interest rate |
8.5% |
Processing Fee |
1% of loan sanction |
Margin |
NIL |
Repayment Type in Moratorium |
Simple Interest / EMI |
Repayment period after Moratorium |
10-12 Years after Moratorium |
Principal Moratorium Period |
Course Period + Six Months |
Collateral / Security Collateral / Security accepted |
100% collateral for loan above 40 lakhs Fixed Deposit –FD, House, Flat, Existing HL with ICICI Bank |
Insurance Available (optional) |
ICICI Prudential/Lombard |
Pre-payment and Part payment Pre-payment/ pre-closure charges |
Available NIL |
Disbursement Frequency Co-borrower Relationships Accepted Co-Borrower Locations Accepted |
As per Institute requirement Father/Mother/Spouse/Brother/Sister/Parents In Law/ Grand Parents Not Required for applicants with More than 3 Years of Work Experience. Only Moratorium Interest FD As per the Bank’s Listed Location |
Contact point |
Regional Head Zone ; Location ; Mobile No ; Email ID ; Ashwin Kumar ; AP & Telangana ; 9985784567 ; ashwin.bm@icicibank.com Arijit Basu ; East - WB, Odisha,CG, Bihar ; 8585063001 ; arijit.basu@icicibank.com Gajendra Bisht ; North - Jaipur, Chandigarh ; 8146608224 ; gajendra.bisht@icicibank.com Prabhash Singh ; Delhi NCR ; 9326952783 ; prabhash.singh@icicibank.com Rakesh Mistry ; Mumbai & Gujarat ; 9930064152 ; rakesh.mistry@icicibank.com Chandra Chittoori ; Karnataka ; 9972819746 ; chandrabhanu.chittoori@icicibank.com Balaji CS ; Chennai ; 9941504900 ; balaji.cs@icicibank.com Tamojit Rakshit ; Pune, Indore & Bhopal ; 8888857812 ; tamojit.rakshit@icicibank.com |
Alternate contact (In case of the local contact not responding) |
Name: Mr. Chakravarthy MVSK (North and East India) Mobile: +91 9321900686 Email: chakravarthy.mvsk@icicibank.com Name: Mr. Vineet Singh (West and South India) Mobile: +91 8879769632 Email: singh.vineet@icicibank.com |
Please Note: *This is a special pricing rate for 2020 and applicable till further notice. Information concerning any of the above rates of interest and other loan conditions are subject to change. All loan sanctions are subject to the bank’s internal policy from time to time.
validity 28/12/2020_to_27/12/2021
State Bank of India
Maximum loan amount |
Rs.50 Lakhs (incl GST) |
Margin Money |
0 |
Course Period |
14 Months |
Repayment Period |
180 Months |
Moratorium period |
Course Period + 6months if job obtained otherwise course period + 12months |
Rate of Interest(EBLR+CRP+BSP=8.55% + CRP+BSP) |
8.00% Floating (with or without co-borrower after 0.60% concession) |
Repayment Options |
Servicing the interest during course period and Moratorium Period to be mandatory. |
Processing Fee Amount |
NIL |
Insurance Cover |
|
Collateral Security |
NIL |
Co-borrower |
Optional |
Pre-payment Charges |
NIL |
Contact point |
SBI HUC Br Hyderabad 05916: 1. Mr. Balla Dayakar, Chief Manager: 9949031301 2. Mr. A Harinath, Manager: 8008179998 3. Miss. Anmol Mohan, Field Officer: 7032659200 4. Mr. Likhith, Special Point of Contact: 7893879124 Mohali 1. Mr. Pravin K Jha CM 9779544099 2. Mr. Jaspreet Singh DBM 9596775351 |
Branch Address |
STATE BANK OF INDIA, EMAIL: sbi.05916@sbi.co.in |
Punjab National Bank
Maximum loan amount |
35.00 Lacs* |
Margin Money |
NIL |
Repayment |
15 years(Excluding moratorium period) |
Moratorium period |
Course period+1 year |
Rate of Interest |
9.00% (for loans above Rs.7.50 Lacs) The change in applicable rates will be effective from the next working day as and when RBI amends the repo rate. |
Repayment Options |
EMI (After moratorium period) |
Processing Fees |
NIL |
Insurance cover |
Mandatory |
Collateral security |
NIL |
Co Borrower |
Parent/Guardian as Co-Borrower |
Pre-Payment Charges |
NIL |
Contact person |
Mrs. Vijaya Lakshmi - 98844 33234 Mrs. Rethy S Nair - 98496 49806 |
Prodigy Finance
Prodigy Finance’s innovative lending model offers community-funded loans to international students at the world’s top business schools, including the Indian School of Business. While banks base their loan decisions on historical salaries and assets, Prodigy Finance looks to the future. We assess applicants’ future earning potential to determine loan affordability. Our model is borderless, allowing us to offer competitive rates to students from 150 nationalities.
Eligibility: Accepted international (non-Indian passport holders) students into the Post Graduate Programme in Management (PGP).
Apply for a loan with Prodigy Finance.
Disclaimer: Prodigy Finance Ltd is incorporated in the United Kingdom (Company Number 05912562) and registered with the Office of the Information Commissioner (Reg. No. Z9851854). Prodigy Finance Ltd is authorised and regulated by the Financial Conduct Authority, and entered on the Financial Services Register under firm registration number 612713. Prodigy's registered address is 25 Foubert’s Place, London, W1F 7QF.
UCO Bank
Maximum loan amount |
Maximum up to 30 lakhs |
Interest rate |
UCO Float Rate + 0.15% i.e. 8.20% (8.05+0.15=8.20) currently |
Processing Fee |
Nil |
Margin |
Nil |
Repayment |
Repayment of the loan will be in maximum 180 equated monthly installments (EMIs*) i.e. 15 years after repayment holiday/moratorium period |
Moratorium Period |
Course period + 1 year after completion of study |
Security |
No security required |
Insurance |
Maximum loan amount Rs. 30 lacs (inclusive of group credit life insurance premium) |
Contact point |
Hyderabad |
Union Bank of India
Maximum loan amount |
Rs.46.50 Lakh |
Interest rate |
EBLR-0.75% (Presently - 8.30%) |
Processing Fee |
Nil |
Repayment period |
15 Years (Excluding Moratorium Period) |
Moratorium |
1 year (Course Period) + 1 year |
Collateral / Security |
Nil |
Insurance Cover |
Mandatory |
Payment of Interest |
Servicing of Interest during course/moratorium period is optional. |
Pre-payment charges |
Nil |
Co-Borrower |
Nil |
Contact poin |
To Apply for the Loan: https://instaloan.unionbankofindia.co.in/online/educationlanding
Hyderabad: Mr. Anil Kumar, (M): 8897411055 Chief Manager, RLP Head Email: ulp.hyderabadkoti@unionbankofindia.bank
Mr.K. Srinivas Rao (M): 8919781522 Chief Manager, RLP Head Email: ubin0577332@unionbankofindia.bank
Mr. Hemanth Kumar, (M): 9000965370 Chief Manager, RLP Head Email: ulphyderabad@unionbankofindia.bank
Mr. K. V L Prasad, (M): 8142140747 Chief Manager, RLP Head Email: ulp.gachibowli@unionbankofindia.bank
Mr. Moru Radha Krishna, (M): 9391040525 Chief Manager, RLP Head Email: ulp.saifabad@unionbankofindia.bank
Mr. D Raja , (M): 9843773009 Chief Manager, RLP Head Email: draja@unionbankofindia.bank
Ms.G Jareena Begum, (M): 9908768091 Chief Manager, RLP Head Email: ulp.secunderabad@unionbankofindia.bank
Mohali/ Chandigarh: Mr. Upendra Rai, (M): 9650083687 Chief Manager, RLP Head Email: ubin0556581@unionbankofindia.bank
Mr. Jahid Khan, (M): 9672991064 Chief Manager, RLP Head Email: ulpmohali@unionbankofindia.bank
Bengaluru: Mr. K. Srinath Reddy, (M): 9633848624 Chief Manager, RLP Head Email: ubin0563285@unionbankofindia.bank
Chennai: Mr.Prem Kumar E. (M): 9962344247 Chief Manager, RLP Head Email: ubin0563277@unionbankofindia.bank
Delhi: Mr. Rishu Srivastav, (M): 8308332388 Chief Manager, RLP Head Email: ulpdelhimb@unionbankofindia.bank
Kolkata: Mr.Saurabh Saurya , (M): 7030910869 Chief Manager, RLP Head Email: ubin0556203@unionbankofindia.bank
Mumbai: Mr.Niraj Kumar , (M):7604018699 Chief Manager, RLP Head Email: ulpmumbaib@unionbankofindia.bank
Mr. Pranay Goyal, (M): 8982694979 Chief Manager, RLP Head Email: ulp.andheri@unionbankofindia.bank |
Availment of Loan |
The Student can avail the loan from nearest |
Yes Bank
Maximum Loan Amount |
Max Unsecured up to 90% of the total cost or 50 lacs whichever is less |
Interest rate |
Starting at *8.50% P.A. (Repo Rate + 2.60%) |
Processing Fee |
1% (inclusive of GST) |
Margin |
10% |
Repayment |
|
Moratorium Period |
Nil |
Co-borrower |
Parents / Grandparents / Spouse / Brother / Sister / Legal Guardian |
Insurance |
As applicable |
Contact point |
North & East – Ankit Jain – +91-9654611713 South – Pramod Shetty – +91-9538397788 West – Prashant Singh - +91-7045359707 Central Team – Sandeep Date - +91-9819502354 |