Central Bank of India Cent Vidyarthi Scheme for Executive MBA Students

Pin It

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.

Loan Details

Quantum

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:

Male Students - MCLR + 0.50%
Female/SC/ST/Minority Community Students - MCLR.

For students pursuing Exe.MBA in other institutes.

MCLR + 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 IIMs and 4 other Reputed Institution

Indian Institute of Management, Ahmedabad, Gujarat
Indian Institute of Management, Bangalore, Karnataka
Indian Institute of Management, Kolkata, West Bengal
Indian Institute of Management, Indore, Madhya Pradesh
Indian Institute of Management, Kashipur, Uttarakhand
Indian Institute of Management, Kozhikhode, Kerala
Indian Institute of Management, Lucknow, Utter Pradesh
Indian Institute of Management, Raipur, Chattisgarh
Indian Institute of Management, Ranchi, Jarkhand
Indian Institute of Management, Rohtak, Haryana
Indian Institute of Management, Shillong, Meghalaya
Indian Institute of Management, Trichhy, Tamil Nadu
Indian Institute of Management, Udaipur, Rajasthan

Other 4 Reputed Institutions

Xavier Labour Relation Institute (XLRI), Jamshedpur
Xavier Institute of Management, Bhubaneswar (XIMB)
SP Jain Institute of Management and Research (SPJMR), Mumbai
Management Development Institute (MDI), Gurgaon.

Additional Institutions

Symbiosis Institute of Management
Faculty of Management Studies (FMS) - University of Delhi
Jamnalal Bajaj Institute of Management Studies (JBIMS)
Indian Institute of Foreign Trade - IIFT
Indian School of Business (ISB) - Hyderabad

Contact Details

Corporate Office -
Central Bank of India
Chander Mukhi, Narman Point, Mumbai - 400 021
Phone : 022-6638 7777
Call Center toll free no (24 hours). 1800 22 1911
Website : visit

Click here for the nearest bank branches

Note : Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.

Tags

Education loan to MBA students , Central Bank of India Loans , Education Loan to IIM Students , Education Loan for management courses

Find it Useful ? Help Others by Sharing Online