CENTRAL BANK OF INDIA EDUCATION LOAN

Indian Institutes of Management (IIMs) are premier Management Institutes in the country. . In order to
encourage students of IIMs to avail educational loans from CBI, various concessions are offered in
existing Cent Vidyarthi Scheme. Details are hereunder-
Sr.
o
Parameter Concessions/relaxations permitted to students of IIMs and 4 Reputed
Institutions
1. Joint Borrower
Loan to be sanctioned in individual name of the student.
Parent(s)/guardian of the student may also be taken as joint-borrower. In
case of a married person, joint borrower can be spouse or the
parent(s)/parents-in-law. (Optional)
2.
Maximum
Loan Amount
Rs.20.00 lakh
3. Margin No Margin
4. Security
No collateral Security.
No third party guarantee.
Assignment of future income of the student.
Comprehensive life insurance policy for the student availing Educational
Loan to the minimum of 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 the borrower.
5. Rate of Interest
Male students without joint borrower Base Rate + 0.50%
Male students with joint borrower Base Rate
Female/SC/ST/Minority Community students Base Rate
No further interest concession will be given for servicing of interest during
moratorium period. (Present Base Rate is 10.25)
The revised interest rate is applicable to new borrowal accounts only.
6.
Expenses
considered for
loan
i. Fee payable to college/ school/ hostel. Reasonable lodging and boarding
charge will be considered in case the student chooses / is required to opt
for outside accommodation.
ii. Examination/ Library/ Laboratory fee.
iii. Travel expenses
iv. Insurance premium for student borrower, if applicable.
v. Caution deposit, Building fund/refundable deposit supported by
Institution bills/receipts.
vi. Purchase of books/ equipments/ instruments/ uniforms.
vii. Purchase of computer at reasonable cost, if required for completion of
the course.
viii. Any other expense required to complete the course - like study tours,
project work, thesis, etc.
ix. Visit to foreign universities in Exchange Programme.
x. Living Expenses upto Rs.120000/- p.a. on declaration basis.
7.
Documents
required
IIM Offer letter with fees structure
class 10
th
, 12
th
(Mark sheet and Certificates)
Graduation, if completed ( Mark sheet and Certificates)
PA card
Identification proof( Voter ID card, DL, Passport etc)
Residence Proof( Voter ID card, Passport with address, Electricity
bill, telephone bill etc)
Five passport photographs

Candidate with work ex- Last Salary slip

Joint Borrower- same set of documents as above, IT return/ IT
assessment order, of last 2 years
7. Others
All other terms and conditions of Cent Vidyarthi Scheme as per Instruction
Circular No. 839, dt 19.12.2011 and following instructions from time to time
shall be complied with.

For any further information or clarification you may contact the Senior manager on 08298196578.











SBI SCHOLAR LOAN
SBI congratulates you on your successful admission to IIM Ranchi, one of the most prestigious institutes
in the country.
Type of expenses covered
All the fees, including boarding, lodging, cost of Laptop etc. Cost of project work, exchange prog with
other institutes/universities etc. Expenses not supported by vouchers/bills is capped upto 25% of the
loan amount or Rs. 1.00 lac, whichever is higher.

Loan Amount
100% finance. The maximum loan amount is Rs 20 lakhs
No Security or Collateral required

Rate of Interest
Base Rate (BR)+ 0.25 % (BR as of now is 10.00 %, so the effective ROI is 10.25 %.* (*For those with work
experience of 2 years and parents/spouse as co-borrower.)

Repayment Period
Max of 144 months after the course period and 6 months of moratorium period (144+24+6 = 174
months in total)

Co Borrower
Parent/ Guardian/ Spouse
Physical presence of the co-borrower is preferred. Otherwise the papers have to be sent to your co
borrower in your home town to be signed in one of the nearby branches and then sent back. Time taken
to process the loan in case co borrower is not present at SBI CMPDI branch depends on the time taken
by the postal department to move the documents.

Salient features
free ATM/Debit Card
Free Internet/Mobile banking facility
accident insurance cover upto Rs. 20.00 for an annual premium of Rs. 2000.00
Demat account and online trading account with nominal fee
Documents required
(A) for students (with <2 years work ex)
1. Pan Card (or at least applied for)
2. Proof of residence (Elec. Bill , Tel Bill , Passport)
3. Two Passport size color photographs
4. CAT / GMAT Scorecard.
5. Prof of admission to the course (offer letter from IIM Ranchi)
6. Schedule of Expenses (provided by IIMR)
7. Documents evidencing the duration of the course and commencement. (IIMR Letter)
8. Mark Sheets and Certificates (10th onwards)

(B) for Working student (in addition to List A)
1. Latest Sal Slip showing all deductions
2. Paper evidencing 2 years work experience.
3. Resignation / Relieving / sabbatical letter from
the current employer.
4. IT Return / Form -16 for the 1 year.
5. Bank Salary A/C statement (last 6 months)

(C) for Co-borrower
1. PAN Card
2. Proof of residence (Elec. Bill , Tel Bill , Passport)
3. Two Passport size color photographs.
4. Latest 3 months Salary Slips or Computation of
Income for the self employed or businesspersons.
5. Salary A/C statement for last 6 months.
6. ITR / F-16 for the last 2 years.
Note - Retired Co-Borrower need only their ID& residential proof, their six months bank statement and
their SB Account with SBI. If no SB A/C, then would be required to open.


In the case of Applicants who still haven't started the process of resignation from current organization,
Relieving letter is must or it may be submitted later on. IN case of those who are being granted study
leave by the office, would have to provide such a letter to that effect from the company. You can submit
the relieving letter also after serving the notice period.

If you want a laptop now, then the bank make a payment in favour of supplier. So you may buy it and
then claim the reimbursement by submitting the bill / invoice.

For clarifications, please contact,
Gayatri Sharma 09771450384
Rajesh Kumar - 09771450549