Scheme for financing Executive MBA - Central Bank of India Education loan

Scheme for financing Executive MBA

Eligibility The student should be an Indian National with minimum work experience of 2 years in Government/ Corporate/Multinational concern. The minimum age of the student should be 23 years. Should have secured admission or intimation of final selection to Executive MBA programme of a reputed institution in India or abroad. Co-borrower The condition of co-borrower is compulsory. The co-borrower / joint borrower should normally be parent(s)/guardian of the student borrower. In case of a married person, joint borrower can be spouse or the parent(s)/parents-in-law. Quantum of loan Rs.20.00 lakh. More than 20 lacs is allowed provided 100% liquid collateral equal to loan amount given. Margin NIL Security No collateral security, except assignment of present as well as future income of the student. Insurance Policy on the life of the student availing Educational Loan to the extent of at least loan amount for a minimum period of loan term (i.e., course period + moratorium period + repayment period) assigned in favour of the Bank. Premium to be paid regularly by borrower. Rate of Interest For students pursuing Exe.MBA in IIMs and 4 other reputed institutes: (Schedule A) Male Students - Base Rate + 0.50%. Female/SC/ST/Minority Community Students - Base Rate. For students pursuing Exe.MBA in other institutes (Schedule B) Base Rate + 1.25% (no concession for Female/SC/ST/Minority Community Students) Processing Charges NIL Repayment Repayment in EMIs to start 3 months after completion of course. Loan is repayable in EMIs for a period upto 8 years in case the loan amount upto Rs.7.50 lakh and upto 12 years in case the loan amount is more than Rs.7.50 lakh. LIST OF INSTITUTES WHOSE STUDENTS ARE ELIGIBLE FOR FINANCE UNDER EXECUTIVE MBA SCHEDULE - A 1 Indian Institute of Management, Ahmedabad, Gujarat 2 Indian Institute of Management, Bangalore, Karnataka 3 Indian Institute of Management, Kolkata, West Bengal 4 Indian Institute of Management, Indore, Madhya Pradesh 5 Indian Institute of Management, Kashipur, Uttarakhand 6 Indian Institute of Management, Kozhikhode, Kerala 7 Indian Institute of Management, Lucknow, Utter Pradesh 8 Indian Institute of Management, Raipur, Chattisgarh 9 Indian Institute of Management, Ranchi, Jarkhand. 10 Indian Institute of Management, Rohtak, Haryana. 11 Indian Institute of Management, Shillong, Meghalaya 12 Indian Institute of Management, Trichhy, Tamil Nadu 13 Indian Institute of Management, Udaipur, Rajasthan 14 Xavier Labour Relation Institute (XLRI), Jamshedpur. 15 Xavier Institute of Management, Bhubaneswar (XIMB). 16 SP Jain Institute of Management and Research (SPJMR), Mumbai. 17 Management Development Institute (MDI), Gurgaon. SCHEDULE - B 1 Symbiosis Institute of Management 2 Faculty of Management Studies (FMS) - University of Delhi 3 Jamnalal Bajaj Institute of Management Studies (JBIMS) 4 Indian Institute of Foreign Trade - IIFT 5 Indian School of Business (ISB) - Hyderabad