dhrjain
VShweta231093
Questions wrt to admitted students, in case you know:
1. If the email says no scholarship, are there still chances of receiving a waiver by 20th Feb? Do they send those decisions separately?
2. Have you applied for a loan yet? A few banks have said that we need to ourselves pay the term/ entire fees in advance, post which the Education loan will then replace/replenish these funds within 2-3 weeks. Is that how it usually works?
On the loans, the admission fee would need to paid by you, but you should get the loan before paying the fee. Don’t know the banks you have spoken to. I’m in conversation with SBI & PNB. They will disburse the loan before 9th March. PNB Pratibha & SBI Scholar Loan are the loan products for ISB/IIM programs.
These are the terms I got from SBI:
Max Loan amount is Rs.40.00 Lakhs, ROI is 6.70% floating
Admission fee will be reimbursed to your account within 6 months from date of payment after sanction of loan.
living expenses upto 1.0lakh will be given on self declaration of student without any bills.
lap top amount can be reimbursed within 6 months from date of bill date
course period plus moratorium period the ROI is simple interest after ROI will be compound interest. i.e., from April 2024 interest will charged by compounding rests.
No prepayment charges and no pre closure charges.
To avail ISB Scholar loan SB account with SBI is mandatory. You can have account with any branch of SBI( if applicant would like to avail loan with co borrower both should have SBI accounts, without co borrower- student should have SBI account)