Name of the scheme: IDBI Money Scholar

Purpose: IDBI has structured a loan facility for Professional / Management / Foreign University education.

For Professional Courses i.e. B.E., B.Tech., M.B.B.S. Post Graduate Courses i.e. M.E., M.Tech., M.S., M.D., M.B.A., M.C.A., etc. recognized by AICTE. For part time / on-line distance learning courses (subject to terms & conditions)

Foreign Universities

For Graduate/Post Graduate/Research/Doctorate studies that insist on TOEFL, GRE, GMAT scores.

For Graduate Courses: at least 75% in the +2 stage.
For Post Graduate Courses: first class graduates.

Proof of TOEFL, GMAT, GRE score card, and 1-20 admit card.

Age of the applicant should not be more than 30 years for Indian Universities and 35 for Foreign Universities. Age of the parent / Guarantors should be below 55 Years. The annual income of the family should not be less than Rs. 3 lakhs.

Amount of loan :

For Indian Universities, actual tuition and other fees, but not exceeding Rs. 5 Lakhs for the entire duration of the course.

For Foreign Universities, considering that in addition to fees, there are travel / preparatory expenses, the loan amount shall not exceed Rs. 15 Lakhs, in all