IIM Education Loan SBI

Hello sir I am here as I want to get the details of the Scholar Loan of Special Scheme for IIM Ahmedabad Students of State Bank of India so will you please provide me the details??

As per your demand here I am providing you details of the Scholar Loan of
Special Scheme for IIM Ahmedabad Students of State Bank of India

1) Ceiling: Rs. 30.00 Lakhs without any collateral

2) Rate of Interest

BASE RATE (9.85%) +0.25 % present effective rates is 10.10 % (Floating interest) (interest calculated on daily reducing
balances).

3) Processing Fee: NIL

4) Security:

The loan would be sanctioned jointly in the name of the student and his
parent/guardian. In case of married person, co-obligator can either be spouse
or parent / parent –in –law. Parental co-obligation can also be substituted by
a suitable third party guarantee.

(5)Repayment Holiday/Moratorium:
Moratorium for course duration plus maximum 6 months after
completion of course. Accrued interest during the moratorium to
be added to the principal and repayment in EMIs to be fixed.

(6)Repayment:

Max. 12 years (144 Months) after commencement of repayment, which will
commence six month

Documents to be attached:

(1)Application form (All Photograph should be self attested)

(2)Applicant and Co-borrower or guarantor should fill Asset/ Liability
report/ opinion report separately, and photographs should be signed by
the report holder only.

(3)Copy of admission offer letter from IIM AHMEDABAD and schedule
of expenses

(4)Copy of passport.

(5)Copy of PAN card (Self Attested) OF SELF AND CO BORROWER
BOTH. THIS IS A MUST

(6)Copy of residence proof (electricity bill/phone bill (BSNL) (Self-Attested).

(7)Copies of all Mark-sheets (For Degree all semester wise mark sheet
and final degree certificate) and Certificate from 10th and 12th standard
onwards (self-attested).

(8)A self-declaration letter that you have not availed education/ scholar Loan
from any other branch / bank (self-attested).

(9)Copy of PASSPORT ofself and co borrower (self-attested.)

(10)Copy of Income proof of self and co borrower i.e. (3
months’salary slip, 2 years IT return with Form No. 16 for salaried persons
OR 3 years IT return full set with balance sheet and P & L for self-
employedand businessman ) (self-attested), if co borrower is not
employed, these docs are required only for student.

(11)6-12 months Bankaccount statement (salary A/C statement /
business A/C statement as applicable)(self-attested.)

(12)Copy of address proof of self and co borrower i.e. electricity bill,
telephone bill (BSNL), property tax paid receipt etc.(self-attested). The
doc should have the same address as that incorporated in the application
form.

(13)Cheque/Draft of Rs. 420/-Stamp Duty favoring State Bank of India,
IIM BRANCH, AHMEDABAD

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Answered By StudyChaCha Member