SBI SCHOLAR LOAN SCHEME
Loan Applicant Student/Student+Natural Guardian or spouse if married (As co-applicant if
any)
Max Loan amount eligible INR 50.00 Lacs FOR IIM CALCUTTA
Loan given for Course Fees.
Purchase of books and equipments (LAPTOP).
Lodging and boarding costs.
Summer expenses or any other expenses (like STEPS) related to the course.
Guarantee / Security NIL / NIL
Margin Money NIL
Interest Rate ROI is now 8.20 % floating.
Moratorium period 6 m. Interest can be paid during moratorium period before start of regular
EMI.
Repayment Term Maximum 180 months after course period and moratorium Period.
Prepayment Penalty/Processing Fee NIL /NIL
Insurance for Loan Amount Single Premium, Can be added to Loan amount.
DOCUMENTS REQUIRED (Alongwith Standard Loan Application Form)
FROM STUDENTS 1. ID Proof- PAN CARD & ADHAAR CARD (MANDATORY) and Perma-
nent Address Proof.
Documents – Self Signed photo- (Permanent Address Proof in the name of Parents will also suffice if no address
copy proof is available for the student)
(One Copy of Pan Card and One copy of Address Proof)
(Original to be produced for 2. Class X, XII, and Graduation Mark-Sheets and Certificates.
verification at the time of sub- 3. CAT/GMAT Score Card, if applicable.
mission) 4. Proof of Admission/ IIM offer letter.
5. Fee structure / schedule of expense for the course.
6. IIM’s acceptance letter.
7. Salary Slips for last 6months &2 years IT returns with Form-16. (If Applica-
ble)
8. Salary A/c statement for last 6 months. (If Applicable)
9. Discharge/No Objection/ Relieve Certificate from present employer. (If Appli-
cable)
10. 4 copies Recent Passport size colour photographs.
11. Opinion Form with Pre sanction report as per given format.
FROM CO-APPLICANT Working Co applicant Co- applicant( Non Working or Pen-
(Father /Mother/Spouse) sioner )
Salaried Self Employed Pan Card, Permanent Address Proof
Documents – Self Signed pho- PANCard, Per- Pan Card, Per- (Current Electricity Bill/ Telephone
tocopy manent Address manent Address Bill/ Bank Passbook duly signed by
Proof, Salary Proof , IT return the Bank official/Passport etc.), PPO
(Original to be produced for Slips for last with Balance for pensioners, Bank Account State-
verification at the time of sub- three months and Sheet and P&L ment or pension account statement
mission) IT return with Account for Last for last 6 months and Opinion Form
Form 16 for Last Two Years and with Pre sanction report as per at-
Two Years and Bank Account tached format.
Salary Account statement for last (Pensioners age should not cross 70
statement for last 6 months and years during course period and mora-
6 months and Opinion Form torium period i.e by Oct 2018)
Opinion Form with Pre sanction
with Pre sanction report as per at- 2 copies recent Passport size colour
report as per tached format. photographs
attached format. 2 copies recent
2 copies recent Passport size co-
Passport size lour photographs
colour photo-
graphs
(Quarter or Residence provided by the office is not acceptable as Permanent Ad-
dress. In case of non availability of any Permanent Address Proof, a residential cer-
tificate or Domicile Certificate with detail address from SDO/ Tehsildar/ D.M or
competent Authority is to be provided )
For Ward of SBI Staff – Apart from above mentioned documents for co applicant,
following additional docs are required _ HRMS Salary Slip, PF Statement, Bank ID
Card attested by any official with SS Number.
Authorized SBI Branch with SBI IIM Calcutta Branch (Code- 06210), IIM Calcutta Campus, D.H Road, Joka,
Contact Details Kolkata- 700104. E-mail – sbi.06210@sbi.co.in, Ph: 033-24531060; Officers –
09674713150, 09674713200.
1. Take print out of all the attachments on A4 size (Bond or executive paper prefera-
ble)
2. Fill all the forms (application/opinion report) completely and sign (in full and no ini-
tial) wherever required. Application is to be signed on all pages. Mail the completed
set to the branch mail id sbi.06210@sbi.co.in for sanction of the loan even before
your arrival to IIM Calcutta. Courier the set of documents to branch address.
3. Bring all the original documents to the Branch for verification before loan disburse-
ment.
4. Students are advised to have a Savings account with SBI before disbursement of the
loan.
5. Scan copy of filled in application not accepted. The loan application has to be sub-
mitted in original, in the Branch located inside the campus.
6. In case applying with a co-applicant, you will be required to have a joint savings
account with the co-borrower in the bank.
7. Applicant and co applicant (in case opted) have to sign on all pages of the loan ap-
plication.
8. PAN Card is mandatory for both applicant and co applicant.
9. Students can pay the fee of their own and can get reimbursement from the bank
later on, if their loan is sanctioned.
10. Please fill all the boxes in all the forms neatly and in Capital Letters only. Any altera-
tions / cuttings, in the loan application is to be authenticated by applicant and co
applicant.
11. Once we receive your documents, we will sanction the loan and inform you at the
given e-mail.
FAQ on Scholar Loan from SBI IIM-C
1. Who can apply?
A. A candidate who has secured his admission in this Premier Institute along with
a co-applicant
2. Is Co-applicant mandatory/ optional?
A. No, co-applicant is not mandatory.
3. Who can be co-applicant?
A. Either of the parents or spouse can be co-applicant.
4. Do co-applicant needs to visit the campus physically for execution of loan doc-
uments?
A. No it is not mandatory for us. You can send the application to us. After
processing it here, we will send it back to our branch near your present location,
for document execution. Co-applicant need to visit that branch only.
5. Is Insurance Mandatory?
A. Insurance is recommendatory since this is a loan without any collateral securi-
ty. Remember, in case of any unfortunate happening, insurance does not put any
financial burden on one’s family. The one time insurance premium is also cov-
ered in loan.
6. What will be the one time insurance premium?
A. Insurance Premium need to be calculated. It will depend on your age, amount
of loan and repayment period.
7. What is the Rate of Interest?
A. Rate of Interest in your loan is presently 8.20with or without Co-Borrower.
8. Is it fixed or floating rate?
A. It is a floating rate loan.
9. When will interest application start?
A. Interest application will start from the date of first disbursement, however, only
on the amount of disbursement and not on the entire sanctioned amount.
10. Is the interest simple during course period?
A. Interest is simple during course period and moratorium period.
11. When will the repayment start?
A. Repayment will start after 6 months moratorium from the completion of your
course. Say, if your course concludes on March 2026, your repayment has to
start from Oct 2026.
12. Can one start repayment prior to that?
A. One is free to start repayment any time as there is no prepayment penalty.
13. Do one get any rebate in ‘Rate of interest’ for servicing monthly interest dur-
ing course period or for Prior Work Experience?
A. Since the ROI is already very low, there is no further rebate available in Rate
of Interest.
14. Is there any Prepayment Charges?
A. There is no prepayment charges.
15. What is the maximum repayment period?
A. The maximum repayment period is 180 EMIs. That is 15 years after your
course period and moratorium period. Both of these are excluded from this 180
months.
16. Can on repay in lesser than 180 EMIs, say 120 EMIs?
A. One is free to repay in any no. of installments less than or equal to 180.
17. Is there any Processing Fee applicable?
A. No, No Processing Fee will be charged.
For any further query please refer to our website sbi.co.in or mail us at
sbi.06210@sbi.co.in
Or Contact : 9674713150 / 9674713200
