faq - edu loan to iim students..doc

7/27/2019 FAQ - Edu Loan to IIM Students..doc

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Centralized Credit Processing Centre, INDORE

Date: 06.06.2013

FREQUENTLY ASKED QUESTIONS

CAN I AVAIL

THE LOAN

FROM A

CENTRAL

BANK OF

INDIA

BRANCH AT

MY

HOMETOWN?

YES, YOU CAN!

HOWEVER WE WOULD LIKE TO TELL YOU THAT,

CENTRAL BANK OF INDIA, IS A NATIONALIZED BANK, & ALSO

WE ARE EQUIPPED WITH 100% CBS (CORE BANKING

SOLUTIONS) I.E. ALL BRANCHES ARE COMPUTERIZED &

LINKED TO EACH OTHER.

1. BANKING WITH US THROUGH ANY BRANCH IS

EQUIVALENT TO BANKING WITH ANY OF THE 4000+

CENTRAL BANK OF INDIA BRANCHES ACROSS INDIA.

2. WE ARE SPECIFICALLY SETTING UP A 'SPECIAL' CAMP AT

IIM INDORE CAMPUS ON THE 2 ND, 3RD & 4TH OF JULY

TO SANCTION IN-PRINCIPLE LOANS TO THE STUDENTS

OF IIM INDORE ON SPOT.

3. THE LOAN WOULD BE PROCESSED ON THE VERY SAME

DAY & SANCTIONED INSTANTLY. EVEN, THE DEMAND

DRAFT TO IIM INDORE WOULD BE GIVEN TO YOU ATTHE SAME TIME.

4. ALSO, WE WOULD BE THERE AT THE IIM INDORE

PREMISES TO HELP YOU PAY THE SUBSEQUENT

INSTALLMENTS, ON THE RESPECTIVE DUE DATE OF

THEIR PAYMENTS.

5. MOREOVER, WE DO NOT HAVE ANY INTER-BRANCH

CHARGES, SO YOU CAN SERVE YOUR EMI FROM ANY

BRANCH IN INDIA.

SO, IT WOULD BE IN YOUR BEST INTEREST THAT YOU AVAIL

THE LOAN FROM OUR CAMP AT INDORE SO AS TO MAKE THEENTIRE FEE PAYMENT PROCESS HASSLE FREE.

Can I get a reimbursement

for the confirmation amount

already paid to IIM?

Yes, we would be reimbursing the entire confirmation amount to you. As

soon as your loan is sanctioned, a savings bank account would be opened

with us & the confirmation amount borne by you would be credited to the

same account.

How much time would it take We would be sanctioning the loans to you on the spot, instantly!

Palika Plaza, Phaze I, M.T.H. Compound, Siyaganj, Indore - 452007Tel: (0731) 2532381

email: [email protected]

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to process the loan at thecamp?

Will I be charged interest on

the entire loan amount

sanctioned?

No. Irrespective of the loan amount sanctioned to you, the interest would

only be charged on the amount disbursed that too at simple rate of interest

during moratorium period. So you pay only for what you use!

Is it necessary for me tocome along with my parents?

Depends! Since we have a special rebate of 0.50% in interest rate on

addition of Co borrower, if you wish to avail the same you have to bring

your parents along, with their respective documents. If you come under

special category to which we are already having lowest rate it is not

require for a Co-borrower or a guarantor, you need not bring your parents

along. However, even if they accompany you, we would be happy to meet

them!

If I’m eligible, will I get a

benefit under the Central

Govt. Interest Subsidy

Scheme?

Yes, you will! Subject to government of India guidelines.

For more information please visit :

www.centralbankofindia.co.in/site/Mainsite.aspx?status=2&menu_id=164

Do I need to submit any

documents relating to proof

of income of my parents?

Depends! If they joined you as Co borrower you need to bring the

documents.

I have already purchased a

Laptop, would the cost

incurred by me be

reimbursed?

Yes. The cost borne by you for the laptop would be reimbursed on the

following conditions:

1. You produce original bill of purchase / invoice.

2. The laptop should be billed in your name.3. The date of purchase should not be earlier than 3 months from the

date of sanction.

How do I produce documents

in order to avail provision for

Student Exchange

programme for Foreign

Universities?

You need not produce any document for the Student Exchange

programme for Foreign Universities at the time of sanction. However,

before disbursing the amount we would require a letter from IIM Indore

stating that you have been selected for exchange programme & estimated

cost involved.



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I have availed an educationalloan for my graduation

studies, & it has still not be

settled / closed. Can I avail a

loan now from Central Bank

of India for IIM Indore?

Yes, you can.

All you have to do is:

1. Submit an undertaking from you & your parents, stating that they

would be servicing the EMI until the completion of your IIM

studies and account will be kept without default.

OR

2. Submit a confirmation letter from your bank (graduation loan),

stating that they would allow for a relaxation of 3 years for the

EMI servicing, till you complete your course from IIM Indore.

Whom do I contact at the IIM

Indore campus at the time of

admission for availing the

education loan?

We would be setting up a camp inside the IIM Indore premises at the time

of your reporting, you can come directly to our camp & avail the loan

facility.

In case of further clarifications & queries, please contact:

GAURAV BHARGAVA RESHABH DAVE

Asst. Manager, Asst, Manager,

CCPC Indore CCPC Indore,

Central Bank of India Central Bank of India

Ph: +918878888028 Ph: +919713353335



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