Loan for IIM Also Known As SBI Scholar Loan Scheme
1- PURPOSE
Loans will be granted to deserving/meritorious students for pursuing full time courses in India at selected premier and reputed institutions identified by the Bank
2- STUDENT ELIGIBILITY
- Should be an Indian National.
- Secured admission to full time professional/ technical courses through Entrance Test/Selection
process in any of the selected Premier Institutes
NOTE: Customers who are visually challenged/ persons with disabilities are not barred from availing loans if they fulfill scheme specific criteria.
3- ELIGIBLE EXPENSES
- Fee payable to college/school/ hostel
- Examination/ Library/ Laboratory fees
- Purchase of books/ equipments/ instruments/ uniforms
- Caution deposit/ building fund/ refundable deposit supported by institution bills/ receipts [not to exceed 10% of tuition fees for the entire course]
- Travel expenses/ expenses on exchange programme*
- Purchase of computer/ laptop, if essential for completion of course*
- Any other expense required to complete the course like study tours, visits to foreign universities in exchange programs, project work, thesis, etc.*
4- TYPE OF LOAN
The loan will be sanctioned as a term loan.
5- LOAN AMOUNT
|
Category
|
Maximum Loan Limit
|
|---|---|
|
Tom
|
5
|
|
Jerry
|
4
|
|
Halum
|
12
|
6- COURSES COVERED
Regular full time Degree/ Diploma Courses and not certificate/ part-time courses, through entrance test/ selection process. SBI Scholar Loans are to be sanctioned for:
- Core programmes only i.e., regular full time Degree/ Diploma Courses and Executive Management Courses like PGPX EPGP of all IIMs and other reputed institutions like XLRI-Jamshedpur, MDI and ISB Hyderabad
- Post Graduate Diploma in Business Analytics (PGDBA) offered by IIM Calcutta is also covered under this scheme
- 15 month Part time ‘Executive MBA course’ of Narsee Monjee Institute of Management Studies (NMIMS), Mumbai
- 3 year Post-Graduation Programme for Working Executives (PGPWE) of IIM Lucknow- Noida Campus, also known as Working Managers Programme (WMP)
- 5 year Integrated Programme in Management’ course conducted by the Indian Institute of Management (IIM), Indore is NOT covered under the scheme.
7- MARGIN
- Upto Rs. 4 Lacs: NIL
- Above Rs. 4 Lacs & Upto Rs. 7.5 Lacs: 5%
- Above Rs. 7.5 Lacs: NIL