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IBMR Business Schools and Credila Financial services ( The Only Specialised Education Loan Provider in India ) have joined hands to assist students and parents to ensure uninterrupted completion of their education with the unique branchless education loan program. Students can get up to 100% finance for education loan for IBMR Indian and Foreign university programme (Domestic and International Programme).

Eligibility

  • Borrower must be an Indian citizen
  • Co-borrower must be an Indian citizen
  • Borrower must be 18 years of age or older
  • Co-borrower must have a bank account in any bank in India with check writing facilities
  • Confirmed admission in the colleges before disbursement
  • Borrower and Co-borrower to meet Credila ' s underwriting criteria

Co-borrower Requirement

  • The loan will be co-signed by a co-borrower in India
  • A co-borrower is mandatory for all the student loans
  • The co-borrower can be parent, brother, sister, guardian, or any other relative
  • Co-borrower's role would be, necessarily, like the primary debtor

What Costs Are Covered?

  • All of the tuition fees as determined by the college/University
  • Up to 75% of other expenses including living expenses, books, etc. as determined by the college/University
  • Up to INR 50,000 for travel to abroad from India, if applicable

Loan Amount

  • Minimum Loan Amount: Indian Rupees 1,00,000
  • Lifetime Maximum Loan Amount: Indian Rupees 20,00,000

Rate Of Interest

  • Rate of interest will be floating rate of interest linked to Credila's Benchmark Lending Rate (CBLR)
  • The floating interest rate will calculated monthly based on the prevailing CBLR at the beginning of the month
  • The interest will be calculated using Simple Interest Rate

 

Loan Disbursement


•  The loan amount will be disbursed in Indian Rupees

•  Credila's servicer will disburse the tuition fee directly to the educational institute

•  The tuition fee will be disbursed in instalments as per the requirement of the specific educational institute

•  The loan amount related to other expenses will be disbursed in instalments spread over the duration of the study

 

Loan Re-payment Terms

•  Loan interest re-payment will start immediately after disbursement of the first instalment of the loan

•  Loan Principal Amount Re-payments must commence After 6 months of completion of studies by the borrower or

•  3 month after borrower getting an employment or starting a business or

•  3 month after borrower discontinuing the educational program,
whichever is earlier.

•  The principal and interest is repayable in 90 monthly instalments

•  Monthly repayment amount will be deducted from the bank account of the borrower/co-borrower using Electronic Clearing System (ECS)

•  Post Dated Checks (PDC) to be collected as security cheques from the borrower/co-borrowers

 

Collateral


•  The following types of collateral are accepted

•  Non-Agricultural Land

•  House

•  Apartment/Flat

•  A life insurance policy for the student, assigned in favor of Credila, for the value of at least the amount of loan approved

Contact Information

 

You can reach Credila Toll free at 1-800-209-3636 or SMS Credila to 53636 or visit us at www.credila.com

 

List of Credila Representatives and their contact details:

 

Location

Relationship Manager

Mobile Number

Email

Delhi

Ashok Joshi

9990749123

ashokj@credila.com

Mumbai

Rajesh Sawant

9987759437

rajeshs@credila.com

Pune

Anand Gujarati

9923002402

anurodhy@credila.com

Ahmedabad

Ajay Khute

9923002405

hiteshp@credila.com

Hyderabad

Anand Gehlot

9000216668

anandgehlot@credila.com

Bangalore

Dinesh Gelhlot

9916120012

dineshg@credila.com

Chennai

Edicks Bereline

9962297875

edickb@credila.com

Nasik

Ajay Khute

9923002405

ajayk@credila.com

 
Details of Banks acorss India which sanctioned Loans to IBMR students of 2007-09 Batch.
S.No. Name of the Student Name of the Bank Branch
1
Ravichandra B P State Bank of India SanteKatte,
2
Sandeep S Indian Overseas Bank Komalapuram, Pathirappally - 688521 ALLEPPEY
3
Neelamkumar Sahoo State Bank of India Dhonpuri (4617)
4
Rosham Kshetrimayum Punjab National Bank PNB, MG Avenue, Imphal-795101
5
Prahlad Singh Shekhawat Oriental Bank of Commerce Anupgrah-335701 (Raj)
6
Vinay Agrawal Central Bank of India Branch : Kargi Road, C.O. Chander Mukhi, Nariman Point, Mumbai-21
7
Milind Narayan Sawande Allahabad Bank Amravati
8
Satbir Kaur Nandre Union Bank of India Jamshedpur Kalimati Road Branch, Opp. Milkhiram Market, Near Gurudwara Sakchi, Jamshedpur
9
Amandeep Kaur Gill Canara Bank Hubli
10
Rosalin Pattanaik State Bank of India Basudevpur-756125, Orissa
11
Prakash M K State Bank of Mysore Mungagod
12
Manunatha P Syndicate Bank Yellapur
13
Krishnappa Malali Vijaya Bank Konnur
14
Raja Chalapati Reddy K Deccan Grameen Bank (SBH) Nirmal (A P)
15
ShyamSunder M Union Bank of India Nirmal (A P)
16
Pranav kumar Central Bank of India Laljang Branch, Vshali, Bihar
17
Rajeshkumar State Bank of India Hamirpur, (H P)
18
Giridhar Pragati Grameen Bank Raichur
19
V V Sumanth State Bank of Hyderabad Ongale (Main)
20
Bharat C M Syndicate Bank Settipalli Branch
21
Srinivas N V Canara Bank Keshwapur, Hubli
22
Sachin Pawar Canara Bank Keshwapur, Hubli
23
Karuppaswamy R Tamilnad Merchantile Bank Ltd.  
       
1
Mangal Sen Nainital Bank Ltd., Khatima Dist U S nagar Nainital
2
Gaurav Mani UCO Bank Calcutta
3
Sanjit Laishram IOB Manipur
4
Vishal SBI Jharkhand
5
Om prakash Singh SBI Ghazipur
6
Rajesh Singh Chouhan Punjab National Bank Jodhpur
7
Amruta Maske UBI  
8
Shubhankar Banerjee Punjab National Bank Lucknow
9
Santosh Mara State Bank of Hyderabad Nirmal Branch,
10
Shweta Gaur Axis Bank Kanpur, UP
11
Pritam Chandangir SBI Dutta Chouk Branch
Yavatmal Maharastra
12
G Rajashekhar Rao SBI West Bengal
13
Kapil Kumar Jain Bank of Baroda Rajasthan
14
Shashank jain SBI Nagpur
15
Ashwini M S Canara Bank Bangalore
16
Rahul Kashyap Central Bank of India Raipur
17
Ashika D Canara Bank Bangalore
18
Gagan Shshwat Bank of India Jharkhand
19
Abhay Kumar Singh Triveni Kshetriya Gramin bank Mirzapur, UP
20
Praveen Kumar Manda SBI Joda, Dist- keonjhar Orissa
21
Shyam Sunder Banerjee SBI West Bengal
22
Nida Ali Bank of India Bhopal
23
Saurabh Agarwal Nainital Bank Bareilly, UP
24
Parag Karwade Bank of India Bhandara
25
Uday Singh Punjab National Bank Bilaspur, HP
       
1
Mr Rajkumar Allahabad Bank Calcutta, West Bengal
2
Mr Amit Sharma Uco Bank Hamirpur H.P
3
Ms. Shilpa Deniel Central Bank udaipur, Rajsthan
4
Mr Abhishek kumar singh Canara Bank Jaunpur, U.P
5
Mr. Hitesh S. Dand IDBI Malkapur, Maharashtra
6
Mr Raj Bhushan Singh SBI Damoh M.P
7
Mr Meet M. Naygandhi SBI Gandhidham, Gujarat
8
Mr Utkarsh Singh SBI Hatta, M.P
9
Mr Amit kumar Baghel Dena Bank Satna, M.P
10
Mr Keyur S. Madaliya Vijya Bank Ahmedabad, Gujarat
11
Md. Aftab Alam Punjab national Bank Guram , Gaya, Bihar
12
Mr. Sudeep Sharma Punjab national Bank Gandhidham, Gujarat
13
Mr Kuldeep Kothari Bank of Baroda udaipur, Rajsthan
14
Ms. Jagyasini Malakar Bank of Baroda Baripada, Orissa
15
Mr. Ashutosh Kuldeep State bank of Bikaner & Jaipur Sikar, Rajsthan
16
Mr Veena Vinay Menon Dena Bank Ahmedabad, Gujarat
17
Mr Ashish Saxena Bank of Baroda Vidisha, M.P
18
Mr Ashok Soni SBI Balaghat, M.P
19
Mr Amit patel Union Bank of India Kharghar(Navi Mumbai),Maharashtra
20
Mr Abhilash Nair Central Bank Ahmedabad, Gujarat
21
Mr Ashutosh Kumar Pandey Punjab national Bank Kaimur, Bihar
22
Mr Gaurav Sharma Raj Gramin Bank Alwar , Rajsthan
23
Ms Aasifa Saiyed SBI ahmedabad, Gujarat
24
Mr Bhawani Singh HDFC Ahmedabad, Gujarat
25
Mr Manish Baradiya Punjab national Bank Ahmedabad, Gujarat
26
Mr Ankur Chobhisa Bank of Baroda Dungarpur, Rajsthan
27
Mr Ameet Shukla Central Bank Ajmer, Rajsthan
28
Ms Savita Munde SBI pune, Maharashtra
29
Mr Naveen Kumar Kainth Bank of India Jalandhar, Punjab
30
Mr Naresh Malviya Bank of Baroda Vidisha, M.P
       
       
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