Education Loans from Indian Bank
Indian Bank is one of the state-owned Indian banks offering a range of education loans to different segments of the student population. The Indian Bank Education Loan is aimed at providing financial support to meritorious students for pursuing higher education in India and abroad. Indian Bank offers three education loans, each for a particular student segment or purpose.
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The three education loans from Indian Bank are:
- IBA Model Education Loan Scheme
- IB Educational Loan Prime
- Skill Loan Scheme
In addition, the bank offers three Government of India Interest Subsidy Schemes on education loans for meritorious and deserving students. These three schemes are:
- Central Sector to Provide Interest Subsidy Scheme to Education Loan Accounts
- Dr. Ambedkar Interest Subsidy on Education Loan for Overseas Studies for OBCs and EBCs
- Padho Pardesh Scheme on Education Loan
We give you a brief intro to each below. In addition, you have the option to click further and read in detail about each loan in a specific page of its own. This specific page has been made specifically for you to get all the information you need on that loan in an uncluttered and easy-to-read format.
Indian Bank IBA Model Education Loan Scheme (for Pursuing Higher Studies in India and Abroad)
The IBA Model Education loan helps students who want to pursue higher studies in India and abroad afford the course fees and related expenses. The quantum of the loan is decided by the bank on a case-to-case basis.
Features of IBA Model Education Loan Scheme
Why this Indian Bank Education Loan?
- The loan is meant to help students fulfil their dreams of pursuing higher education in India or abroad
- The loan is disbursed as a series of payments over the required number of years and not as a lump sum
- The loan can be taken for all institution fees as well as related expenses including purchase of books, laptops, hostel fees, lab fees, examination fees, etc.
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Indian Bank IB Education Loan Prime
This loan is meant for students pursuing higher education from premier educational institutes in the country. This is a need-based loan with maximum collateral-free loan amount capped based on the Indian Bank’s categorisation of institutes into List A and List B.
Features of Indian Bank Education Loan – IB Education Loan Prime
Why this Loan?
- The loan is meant for you if you have gained admission into a Bachelors, Masters, Doctorate (PhD) or a professional studies programme at a premier institute in the country
- The Indian Bank IB Education Loan Prime is disbursed to the institution as required to pay the fees or other approved charges
- All fees and expenses directly connected to the successful completion of the course including the lab fees, examination fees, travel expenses, purchase of computers, etc. are covered
- Full-time courses offered by some of the top medical, engineering, management, Pharma as well as Art and Science colleges are eligible for this loan
Indian Bank Skill Loan Scheme
This loan helps students who have gained admission into technical courses offered by Industrial Training Institutes (ITIs), polytechnics, etc. to pay for their course fees. The loan amount starts from Rs. 5,000 and can go up to Rs. 1.5 lakh depending on the duration of the course.
Features of IB Skill Loan Scheme for Technical Courses
Why this Loan?
- The Indian Bank Skill Loan Scheme is meant for you if you have gained admission into a technical course offered by a polytechnic, Industrial Training Institute (ITI), etc. in India
- The bank disburses it as a series of payments over the required number of terms or years to pay the course fees or other approved charges
- Indian Bank Website: www.indianbank.in
- Headquarters: Chennai, Tamil Nadu
- Call Centre Toll-Free Number: 1800 425 00 000, 1800 425 4422