About Institutional Loan?
The Institutional Loan Program (ILP) provides an affordable payment program worked out in accordance with individual financial circumstances as reflected in the financial information submitted to the School.
The objective of the ILP is to provide students with either an alternative to Federal Financial Aid programs or an additional source of funding for tuition, books and supplies. The loans have no associated fees and the interest rate is based on the repayment length of the loan.
- Documents Required
- Benefits of Institutional Loan
- Intrest Rates
- EMI Cal
» Your Proof of Residence - A ration Card / Telephone Bill / Electricity Bill / Voters Card will do. » Your Proof of Identity - A Voter's Card / Driver's License / Employer's Card will do. » Your latest Bank Statement / Passbook from where you can show a salary / income being credited from the past 6 months. » Your Salary Slip from the last 3 months with all deductions shown. A Form 16 from the last 2 years will also be required. » Brief statement of assets and liabilities, of the Co-borrower. » Copies of all Property Documents of the concerned property that you chose to pledge for the loan.
» Most convenient and immediate line of credit against your fixed deposits . » Interest charged only on utilized amount . » Lower Interest rates. » There is not normally a charge for paying off the overdraft earlier than expected.
|Commercial Institutional Loan Rate of Interest|
|Banks||Interest Rate||Banks||Interest Rate|
|ICICI Bank||14% - 14.75%||HDFC Bank||13.99% - 14.75%|
|State Bank Of India||18.25%||Fullerton India||21% - 32%|
|AXIS Bank||15% (For Super CAT A), 16% (For CAT A)||Kotak Bank||15%-17%|
|Standard Chartered||16% - 17%||Citibank||16% - 17%|
|Bank of Baroda||14.75%||Corporation Bank||14.5%|
|ING Vysya||14.50% - 17.75%||Andhra Bank||15.75%-16.75%|