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Old April 22nd, 2016, 05:52 PM
Default IDBI Education Loan for MBA

Can you tell me about the interest rates for pursuing MBA (Master n Business Administration) course incurred by IDBI Bank against the Education Loan of the Bank as I want to pursue the course?
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Old April 23rd, 2016, 09:53 AM
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Join Date: Nov 2011
Default Re: IDBI Education Loan for MBA

IDBI Bank provides educational loans to students to pursue higher education in India and abroad. Education loans from it aim at providing financial support to deserving / meritorious students for pursuing higher education in India and abroad.

With an array of services to choose from and easy repayment options, IDBI Bank makes sure you get complete financial backing.

Education Loan for MBA

Loan Amount

Maximum loan amount :

 Study in India-Rs.10 lakhs
 Study Abroad -Rs.20 lakhs

Loan Margin:
 Studies in India - upto Rs. 4 lac- Nil
 above Rs. 4 lac- 5% of the total course expenses
 Studies abroad - 15% of the total course expenses

Expenses Covered under Loan
 Fee payable to college/ school/ hostel
 Examination/ Library/ Laboratory fee
 Purchase of books/ equipments/ instruments/ uniforms
 Caution deposit/ building fund/ refundable deposit supported by Institution bills/ receipts
 Travel expenses/ passage money for studies abroad Purchase of computers - essential for completion of the course
 Any other expense required to complete the course - like study tours, project work, thesis, etc.`
 Insurance premium for student borrower

Repayment terms

Repayment tenure:

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

Interest rates:

The IDBI educational loan interest rate for non-vocational courses qualifying as per Priority Sector Lending (PSL)

Qualifications Maturity Slab Interest Rate (% p.a.)

Priority Sector Lending (PSL) Up to Rs. 10 lakhs for studies in India 11.00% (BR+1.00%)
and up to Rs. 20 lakhs for studies Abroad

Not Priority Sector Lending Above Rs. 10 lakhs for studies in India 12.00% (BR+2.00%)
and above Rs. 20 lakhs for studies Abroad
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