The terms and conditions of the Education loan to be availed for WBO Program in association

with Manipal University is mentioned in the table below:

WBO PROGRAM – TERMS AND CONDITIONS FY 23-24

Sr. No. Terms Details

1 Eligibility
2 Course Name
3 Rate of Interest
4 Maximum Loan amount
Student should be an Indian National & has been selected under
the Axis Bank Young Bankers Program as per HR guidelines
WBO Program
13.00%
(Floating Rate linked to Repo Rate)
Upto Rs. 4 lakh (inclusive of course fees + GST)

5 Margin Nil
An amount of Rs. 3000/- will be collected towards out of pocket
6 Other Charges
expenses (DD Favouring : Axis Bank Ltd)
Foreclosure/Prepayment
7 Nil
Charges
Interest servicing during the moratorium period. EMI repayment
8 Repayment
will start on completion of the moratorium period.
Interest/EMI repayments will be recovered on a monthly basis
9 Mode of repayment from the stipend based on the 'Standing Instruction' from the
student.
10 Max. Moratorium period 9 months (inclusive of course period)

11 Maximum EMI tenure 5 years (starts once moratorium period ends)

As per fee payment schedule. The payment will be made directly
12 Loan Disbursement
to the institute.
Applicable (any one of below)
13 Co-Applicant
Father / Mother / Spouse / Parents-in-law / Employed siblings
Demand Draft for insurance premium of Rs 1800/- to be
14 Insurance
submitted. (DD favouring : Max Life Insurance Company)
Approx Rs 2109/- post first disbursement during moratorium
period
Approx Rs 4430/- post moratorium period for 5 year period
15 Monthly interest payable
*Above amounts are tentative & may vary according to change in repo
rate, tenure etc.
For Bank purpose only –

 Institute ID – 37313
 Promo Code – ABYB SPL PROGRAM
 Active Axis Savings account will be required at the time of disbursement along with Security
PDC
 Disbursement account details

Bank Name Axis Bank

Account Number 009010200021748
IFSC Code UTIB0000561
Bank Account Name MANIPAL GLOBAL EDUCATION SERVICES PRIVATE LIMITED