Atm Global Business School - Admissions Procedure

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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.
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.

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 Amount

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

Tax Benefit

Repayment of an education loan is deductible under section 80E of the Income Tax Act. The yearly limit for deduction is Rs. 40,000 (for both the principal and the interest). Only loans taken for higher education - full time studies in any graduate or post-graduate, professional, and pure and applied science courses - may claim deduction. The deduction will be available for a maximum of eight years starting from the day you start repaying. The Reserve Bank of India (RBI) has issued guidelines in this regard to all commercial banks. A large number of banks have already launched educational loan schemes.

Disclaimer:
Since the rules, regulations, eligibility conditions, repayments and interests rates etc are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.

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 ATM Indian and Foreign university programme (Domestic and International