(A Government of India Undertaking)

Camac Street Branch

No.10, Camac Street, Industry House Kolkata- 700017

Tel. No- 033/ 2282-2184 Fax- 033/ 2282-9282 E-mail: bmkols0093@centralbank.co.in

Educational Loans to students of Indian Institute of Management Calcutta (IIMC)

SALIENT FEATURES OF THE SCHEME FOR BATCH 2013-15

Sl No. 1. 2. 3.

Particulars Name of Scheme Purpose Eligibility

4. 5.

Maximum loan amount Rate of Interest

Details Education Loan scheme for students of IIMs For pursuing PGDM two years full time course in IIMs Students eligibility: Should be an Indian National, PIO or NRI Student should be in the age group of 16 to 40 years. Students admitted to IIMs through the Common admission Test (CAT) and pursuing two year full time management course Rs.20.00 lakh Male students without joint borrower Male students with joint borrower Female/SC/ST/Minority students Base Rate + 0.50% Base Rate

Community Base Rate

Present Base Rate: 10.25% p.a Floating rate of Interest linked to Base Rate of the Bank No further interest concession will be given for servicing of interest during moratorium period

Interest subsidy

6. 7.

Margin Expenses considered for loan

The students of IIMs are eligible for interest subsidy scheme of Govt. of India during the study period , if the parental (both father & mother) income is less than Rs.4.50 lakh p.a. on loan amount availed up to Rs.10.00 lakh subject to renewal by the Govt, of India from time to time. Student needs to submit income certificate of the parents/ guardian issued by competent authority for getting interest subsidy. No margin (No financial contribution from borrower or parents)

i. Fee payable to college/ school/ hostel. Reasonable lodging and boarding charge will be considered in case the student chooses / is required to opt for outside accommodation. ii. Examination/ Library/ Laboratory fee. iii. Travel expenses iv. Insurance premium for student borrower, if applicable. v. Caution deposit, Building fund/refundable deposit supported by Institution bills/receipts. vi. Purchase of books/ equipments/ instruments/ uniforms. vii. Purchase of computer at reasonable cost, if required for completion of the course. viii. Any other expense required to complete the course - like

8.

Borrower (Student) & Co- borrower

9.

Security

10.

Repayment schedule

study tours, project work, thesis, etc. ix. Visit to foreign universities in Exchange Programme. x. Living Expenses upto Rs.120000/- p.a. on declaration basis. Loan to be sanctioned in individual name of the student. Parent(s)/guardian of the student may also be taken as jointborrower. In case of a married person, joint borrower can be spouse or the parent(s)/parents-in-law. (Optional) No collateral Security. No third party guarantee. Assignment of future income of the student. Comprehensive life insurance policy for the student availing Educational Loan to the minimum of loan amount for a minimum period of loan term (i.e., course period + moratorium period + repayment period) assigned in favour of the Bank. Premium to be paid regularly by the borrower. Repayment holiday/Moratorium: Course period + 1 year or Loan period +6 months after getting job, whichever is earlier Repayment period: For loans upto Rs. 7.5 lakh - upto 10 years For loans above Rs.7.5 lakh - upto 15 years Note: No prepayment penalty will be levied for prepayment of loan any time during the repayment period.

11. 12.

Processing Charges Other facilities

13.

Documents required ( All Xerox copies must be duly attested by both self & Gazetted officer/ Officer of any recognized Govt. Institutions)

14.

Forms to be submitted

No processing charge ATM Debit Card, Internet Banking facility and Any Where Banking facility, Mobile Alert facility, Prepaid Card, shall be provided to the students upon opening of the account with the Bank. PAN Card/ Voter ID/ Pass Port Identity Card issued by the employer. Identity Card issued by any Government Department/Government Agency/ College/Educational Institution. Address proof: Telephone Bill/Electricity Bill/Ration Card/Property Card Copy of Education Qualification Certificates of the student including Mark Sheets. Estimates of expenses from the Educational Institution (IIM, Calcutta) Loan application form & SB A/c opening form

Assistant General Manager

Communication/ contact Details: Mr. Abhijit Samadder, Manager: Mobile: 9831775572 Mr. Kumar Utkarsh, Manager: Mobile: 9674524669 Mr. C.P. Singh, Chief Manager, Mobile: 9874651117 Email ID: cbicamacstreet@gmail.com bmkols0093@centralbank.co.in All duly filled in loan & SB application forms along with all enclosures mentioned above may be submitted by Courier/ Speed post at the address given below: Central Bank of India 10, Camac Street, Industry House Kolkata-700017