Must be an Indian NationalMust be over 18 years of age but within 30 yearsSecured admission to Professional/ Technical courses through Entrance Test/ Selection Process.No minimum qualifying marks.

Eligible Courses

School Education/ Intermediate/ Graduation Courses/ Post Graduation Courses/ Professional Courses: Engineering/ Medical/ Agricultural/ Veterinary/ Dental/ Physiotherapy/ Nursing/ Law/ Management/ PGDRIM/ ICWA/CA/CFA/IIM/ IIT/IISC/XLRI/NIFT and other courses approved by State/ Central Government.
All other courses leading to diploma/ degree etc., conducted by colleges/ universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMR etc., and offered by National Institutes and other reputed private institut

Quantum of Finance

Need based finance subject to repaying capacity of the parents/ students with a maximum of Rs. 10.00 lacs.


Upto Rs.4,00,000/-     –              NIL
Above Rs. 4,00,000/-   –             5%

Mode of Disbursement

The loan amount should be released in proportion to the number of years, depending upon the progress of the student. The scholar should produce a certificate from the competent authority for successful completion of academic year for further releases.



Scope of the scheme

The scheme will apply to deserving/ meritorious students who wish to pursue studies abroad.


Must be an Indian NationalMust be over 17 years of age but within 35 years.Must have secured admission in Overseas College/ University/ Institution in any of the following disciplinesMust be in possession of Admission confirmation letter from the concerned University.Must be in possession of a valid Passport and Visa.

Courses Eligible for Finance

Graduation €“ For job oriented profession/ technical courses offered by reputed universities.Post Graduation €“ MCA, MBA, MS etcCourses conducted by CIMA €“ London, CPA in USA etc.,Graduate/ Post Graduate studies in Arts, Science, Commerce and Business Administration.Graduate/ Post Graduate studies in PharmacyGraduate/ Post Graduate studies in any Professional/ Technical courses.PhD ( Doctor of Philosophy)

Quantum of Finance

Need based as informed in the admission/ confirmation letter of the University/ College, subject to a maximum of Rs. 20.00 lacs


Upto Rs. 4,00,000/-  :  NIL       ;              Above Rs. 4,00,000/- :   15%

Mode of Disbursement

Initially an amount equal to the cost of air passage and Foreign Exchange towards the payment of semester fee and hostel expenses as per admission card of the college. Further amounts will be released proportionate to expenses towards semester fees, hostel fees etc. on annual basis

At any point of time there should not be more than two loans outstanding in the name of the student under the scheme.




Loan under the scheme should be considered towards:

Tution FeesExamination FeesStudy Tours, Project workCost of Books, StationaryEquipment essential for coursesCaution Deposits/ Building Funds/ Refundable Deposits supported by institution bills/receipts, subject to the condition that the amount does not exceed 10% of the total tution fees for the entire courseHostel Fees.In case of studies abroad €“ Cost of Air Passage to the foreign country and maintenance including Health Insurance as per Foreign Exchange permit and correspondence from the college abroad

Mode of Charging Interest

The interest to be debited monthly on simple basis during the repayment- holiday / gestation period.The accrued interest during the repayment holiday period to be added to the principal and repayment in EMI fixedPenal Interest: For the loans above Rs. 2.00 lacs penal interest at 2% be charged on the overdue amount for the over due period


Co-obligation of parents. Must be an Indian Citizen.Wherever parents are not there, Bank could consider grandparents as co-obligator to the loans taking into account their networth.In case of court appointed guardians, their co-obligation shall be obtainedIn case of married person, co-obligator can be spouse or the parents(s)/ Parents-in-law

Collateral Security

Upto Rs.4.00 lacs €“ NILRs. 4.00 lacs to 7.5 lacs €“ Co-obligation of parent/guardian/third partyAbove Rs. 7.50 lacs €“ Tangible security of suitable value besides co-obligation of parent.Parent co-obligation and assignment of future income.

Holiday Period

1 year after course period or 6 months after getting job, whichever is earlier.


The loan to be repaid in 5-7 years after commencement of repayment


Only one loan will be sanctioned for abroad studies subject to a maximum of Rs. 20.00 lacs.

Multiple Loans in the same family

In case of receipt of application of more than one loan for student borrower from a family the family as a unit will be taken into account for considering the loan and security norms are applicable taking into account the total quantum of finance sanctioned to the family subject to margin, repaying capacity of the student / parent

Central Scheme to provide interest subsidy (CSIS)

Government of India, Ministry of HRD has launched a scheme under the name “Central Scheme to provide interest subsidy (CSIS)” which is being implemented in our Bank. for full details of the scheme contact nearest branch.

Interest rates for ISB students







Base rate + 1.25 = 12%

Male students

Base Rate +0.75 = 11.50%


Base rate + 0.75 = 11.50%

Female students

Base Rate + 0.25 = 11.00%


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