IDBI Bank | Kalvimalar - News

IDBI Bank-

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Contact Number  : 91-22-22189111, 66553355.
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Rules and Regulations

Courses offered 
An installment based loan for all courses mentioned below:

a. Studies in India:

  • Graduation courses : BA, B.Com., B.Sc., etc

  • Post Graduation courses : Masters & Phd

  • Professional courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc

  • Computer certificate courses of reputed institutes accredited to Dept. of Electronics or institutes affiliated to university

  • Courses like ICWA, CA, CFA etc

  • Courses conducted by IIM, IIT, IISc, XLRI. NIFT etc

  • Courses offered in India by reputed foreign universities

  • Evening courses of approved institutes

  • Other courses leading to diploma/ degree etc. conducted by colleges/ universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc

  • Courses offered by National Institutes and other reputed private institutions. Banks may have the system of appraising other institution courses depending on future prospects/ recognition by user institutions.

b. Studies abroad:

  • Graduation: For job oriented professional/ technical courses offered by reputed universities. Post graduation: MCA, MBA, MS, etc. Courses conducted by CIMA- London, CPA in USA etc.

c. Special Courses

  • Regular Degree/Diploma courses like Aeronautical, pilot training, shipping etc., approved by Director General of Civil Aviation/Shipping. In case the course is pursued abroad, the Institute should be recognized by the competent local aviation/shipping authority . 

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 :
The repayment of loan to begin after the course period + 1 year or 6 months after getting a job, whichever is earlier. The loan to be repaid within 5-7 years (maximum tenor 84 months) after commencement of repayment. 

Rate of Interest:  


 Benchmark Prime Lending Rate (BPLR*) = 12.75% p.a. w.e.f. July 1, 2009

 Up to Rs. 4 lakhs

11.75 % (BPLR - 1%) 

Above Rs. 4 lakhs

 12.75 % (BPLR

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Simple interest to be charged during repayment holiday and moratorium
Accrued interest during the repayment holiday period should be added to the EMIs.
Where the borrower has not opted for the repayment holiday or is willing to service the interest during the repayment holiday (for principal) the interest rate should be 1% lower than the applicable rate.

  • 50 basis points reduction for girl applicants

  • 50 basis points reduction for physically challenged applicants (subject to submission of certificate from a medical practitioner)

 * BPLR subject to change 

Repayment holiday / moratorium :
Duration of the course period + 1 year / 6 months after getting a job, whichever is earlier.

The loan to be repaid in 5-7 years (maximum tenor 84 months) after commencement of repayment.

Processing Fee / Upfront charges:
Study in India  - Nil
Study Abroad  - 1% of the loan amount subject to a maximum of Rs. 5000/-, to be refunded at the time of disbursement if and when availed by the borrower.
Service tax is applicable on the amount of processing fee 

Collateral Security:  
Up to Rs 4 lacs - No security
Above Rs 4 lacs and up to  Rs. 7.5 lacs -  Collateral in the form of a third party guarantee
Above Rs 7.5 lacs -  Collateral security in the form of Land/ building, (The minimum value shall be 1.33 times the amount of loan sought).  Govt. securities/ Public Sector Bonds/ Units of UTI, NSC, KVP, LIC policy, gold, shares/ debentures, bank deposit in the name of parent/ guardian or in the name of the co-applicant (The minimum value shall be 1.1 times of the amount of loan sought).  

Wherever the land/ building is already mortgaged, the unencumbered portion can be taken as security on II nd charge basis provided it covers the required loan amount. In case the loan is given for purchase of a computer the same to be hypothecated to the Bank. 


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