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Purpose
IDBI has structured a loan facility for Professional / Management / Foreign
University education.
Approved Courses
Indian Universities
For Professional Courses i.e. B.E., B.Tech., M.B.B.S. Post Graduate Courses
i.e. M.E., M.Tech., M.S., M.D., M.B.A., M.C.A., etc. recognized by AICTEFor
part time / on-line distance learning courses (subject to terms &
conditions)
Foreign Universities
For Graduate/Post Graduate/Research/Doctorate studies that insist on TOEFL,
GRE, GMAT scores.
Eligibility
Indian Universities
For Graduate courses : at least 75% in the +2 stage.
For Post Graduate Courses : first class graduates.
Foreign Universities
Proof of TOEFL, GMAT, GRE score card, and 1-20 admit card.
Age of the applicant should not be more than 30 years for Indian Universities
and 35 for Foreign Universities. Age of the parent / Guarantors should be
below 55 Years. The annual income of the family should not be less than Rs. 3
lakhs.
Amount of loan
For Indian Universities, actual tuition and other fees, but not exceeding Rs.
5 Lakh for the entire duration of the course.
For Foreign Universities, considering that in addition to fees,
there are travel / preparatory expenses, the loan amount shall not exceed Rs.
15 Lakh, in all.
Interest Rates
Long term Prime Lending Rate + 1% p.a. + taxes
Processing Fees: Rs. 1000 at application, and Rs. 500 p.a. thereafter
Cost of documentation / legal expenses at actuals
Period of loans
Graduate Studies: Maximum moratorium period of 5 years including the actual
duration of the course. After which the loan should be repaid within the next
3 years.
Post Graduate Studies: Moratorium period of 2 years i.e. the
course duration. Loan repayment within the next 3 years.
No prepayment penalties levied
In fact, there are incentives for prompt repayment. Like refund of the entire
processing fee, if not a single installment is missed/delayed.
For any further query you are free to
contact us.
NEW FLIGHT SERVICES
108 # Ambikapuri Extension Airport Road
Indore 452005 M.P. INDIA
Tel: +91-731-4044650 +91-731-6450535 +91-731-6452650
Mobile 093295
06427 / 93000 32375
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office@newflight.in,
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