IDBI Bank

NAME TYPE WEBSITE
IDBI Bank Private https://www.idbi.com

YES

1) Non Vocational Courses

2) Vocational Courses

  1. Non Vocational Courses

1) Non Vocational Courses

Approved courses for graduation or post-graduation and PG diplomas by universities or colleges recognized by UGC, Govt., AICTE, AIBMS, IMCR, etc.
Job-oriented courses for technical or professional degrees, postgraduate and diplomas in recognized institutions.
Technical diplomas after 10th standard, offered by approved polytechnic institutions (usually three years).
In case of dual courses, where part of the course is abroad, the domestic course will be considered.
Approved courses offered by reputed foreign schools/universities in India.

2) Vocational Courses

Vocational or skill development courses, the duration of which is 2 months to 3 years.

State Level Banker’s Committee or State Level Coordination Committee may add other skill development courses leading to employment.

1) Non Vocational Courses

 Rs. 10 lakhs for studies in India

2) Vocational Courses

Up to 3 months

Up to Rs. 20,000/-

3 months to 6 months

Up to Rs. 50,000/-

6 months to 1 year

Up to Rs. 75,000/-

Above 1 year

Up to Rs. 1,50,000/-

 

1) Non Vocational Courses

  • Priority Sector Lending (PSL)
  1. Up to Rs. 10 lakhs for studies in India
  2. 11.00% (BR+1.00%)
  • Not Priority Sector Lending
  1. Above Rs. 10 lakhs for studies in India
  2. 12.00% (BR+2.00%)

Rates for students in Premier Education Institutes (including ISB) is 10.00% (BR+0.00%)

For those students who secured admission under Management Quota the rate of interest is 13.50% (BR+3.50%).

2) Vocational Courses

    11.00% (BR+1.00%).

 

 

  1) Non Vocational Courses

As per the IDBI educational loan procedure, the moratorium period is up to 1 year after the duration of the course or 6 months after getting a job, whichever is earlier. After this period, the duration repayment tenure is:

Loans up to Rs. 7.5 lakhs

Up to 10 years

Loans above Rs. 7.5 lakhs

Up to 15 years

  2) Vocational Courses

The moratorium period for courses up to the duration of 1 year is 6 months after the completion of the course.

For courses above 1 year duration, it is 12 months after the completion of the course.

After this period, the duration repayment tenure is:-

Loans up to Rs. 50,000

Up to 2 years

Loans between Rs. 50,000 to Rs. 1 lakh

2 to 5 years

Loans above 1 lakh

3 to 7 years

 

  1. Non Vocational Courses
  2. Vocational Courses

           NIL

Non Vocational Courses

For loans above Rs. 4 lakhs, 5% of the total cost of the course is applicable.

 

1) Non Vocational Courses

No security required for loans up to Rs. 4 lakhs.
Third party guarantee is required for loans above Rs. 4 lakhs and up to Rs. 7.5 lakhs.
For above Rs. 7.5 lakhs:
Building/land (not agriculture) – the minimum value should be 1.33 times the amount of the loan.
Units of UTI, NSC, KVP, LIC policy, Govt. securities, Public Sector bonds, gold, share/mutual fund, debentures, and bank deposit in the name of the student, parent, guardian or third party – the minimum value should be 1.1 times or as per the respective margin limit against the security, whichever is lesser, of the amount of the loan.
The bank may accept any other tangible security with suitable margin.

2) Vocational Courses

Collateral or third party guarantee is not required. The parent will be required to execute the loan documents jointly

  • Non Vocational Courses
  1. Fees payable to the school, college, hostel.
  2. Fees for examination, laboratory, library.
  3. Books, uniforms, equipment, instruments.
  4. Expenses for any computers or laptops required for the course.
  5. Travel expenses incurred during the course.
  6. Building fund or caution deposit with institution bill. Amount should not exceed 10% of total tuition fees for the entire course.
  7. Insurance premium for student, if sought.
  8. Any other expenses required to complete the course such as thesis, projects, and study tours.
  9. The maximum expenditure under D, E, F, G and H should be no more than 50% of the total tuition fees for the course.
  • Vocational Courses
  1. Tuition or course fees.
  2. Fees for examination, laboratory and library.
  3. Books, equipment, instruments.
  4. Caution deposit.
  5. Insurance premium for student, if sought.
  6. Any other expenses required to complete the course to be considered on merit.
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