Centralized Credit Processing Centre, INDORE

Date: 06.06.2013

FREQUENTLY ASKED QUESTIONS

CAN I AVAIL THE LOAN FROM A CENTRAL BANK OF INDIA BRANCH AT MY HOMETOWN?

YES, YOU CAN! HOWEVER WE WOULD LIKE TO TELL YOU THAT, CENTRAL BANK OF INDIA, IS A NATIONALIZED BANK, & ALSO WE ARE EQUIPPED WITH 100% CBS (CORE BANKING SOLUTIONS) I.E. ALL BRANCHES ARE COMPUTERIZED & LINKED TO EACH OTHER. 1. BANKING WITH US THROUGH ANY BRANCH IS EQUIVALENT TO BANKING WITH ANY OF THE 4000+ CENTRAL BANK OF INDIA BRANCHES ACROSS INDIA. 2. WE ARE SPECIFICALLY SETTING UP A 'SPECIAL' CAMP AT IIM INDORE CAMPUS ON THE 2ND, 3RD & 4TH OF JULY TO SANCTION IN-PRINCIPLE LOANS TO THE STUDENTS OF IIM INDORE ON SPOT. 3. THE LOAN WOULD BE PROCESSED ON THE VERY SAME DAY & SANCTIONED INSTANTLY. EVEN, THE DEMAND DRAFT TO IIM INDORE WOULD BE GIVEN TO YOU AT THE SAME TIME. 4. ALSO, WE WOULD BE THERE AT THE IIM INDORE PREMISES TO HELP YOU PAY THE SUBSEQUENT INSTALLMENTS, ON THE RESPECTIVE DUE DATE OF THEIR PAYMENTS. 5. MOREOVER, WE DO NOT HAVE ANY INTER-BRANCH CHARGES, SO YOU CAN SERVE YOUR EMI FROM ANY BRANCH IN INDIA. SO, IT WOULD BE IN YOUR BEST INTEREST THAT YOU AVAIL THE LOAN FROM OUR CAMP AT INDORE SO AS TO MAKE THE ENTIRE FEE PAYMENT PROCESS HASSLE FREE.

Can I get a reimbursement for the confirmation amount already paid to IIM?

Yes, we would be reimbursing the entire confirmation amount to you. As soon as your loan is sanctioned, a savings bank account would be opened with us & the confirmation amount borne by you would be credited to the same account.

How much time would it take We would be sanctioning the loans to you on the spot, instantly!
Palika Plaza, Phaze I, M.T.H. Compound, Siyaganj, Indore - 452007 Tel: (0731) 2532381 email: cmccpcindo@centralbank.co.in

Centralized Credit Processing Centre, INDORE

to process the loan at the camp?

Will I be charged interest on the entire loan amount sanctioned?

No. Irrespective of the loan amount sanctioned to you, the interest would only be charged on the amount disbursed that too at simple rate of interest during moratorium period. So you pay only for what you use!

Depends! Since we have a special rebate of 0.50% in interest rate on Is it necessary for me to come along with my parents? addition of Co borrower, if you wish to avail the same you have to bring

If Im eligible, will I get a benefit under the Central Govt. Interest Subsidy Scheme? Do I need to submit any documents relating to proof of income of my parents? I have already purchased a Laptop, would the cost incurred by me be reimbursed? How do I produce documents in order to avail provision for Student Exchange programme for Foreign Universities?

your parents along, with their respective documents. If you come under special category to which we are already having lowest rate it is not require for a Co-borrower or a guarantor, you need not bring your parents along. However, even if they accompany you, we would be happy to meet them! Yes, you will! Subject to government of India guidelines. For more information please visit : www.centralbankofindia.co.in/site/Mainsite.aspx?status=2&menu_id=164

Depends! If they joined you as Co borrower you need to bring the documents.

Yes. The cost borne by you for the laptop would be reimbursed on the following conditions: 1. You produce original bill of purchase / invoice. 2. The laptop should be billed in your name. 3. The date of purchase should not be earlier than 3 months from the date of sanction. You need not produce any document for the Student Exchange programme for Foreign Universities at the time of sanction. However, before disbursing the amount we would require a letter from IIM Indore stating that you have been selected for exchange programme & estimated cost involved.

Palika Plaza, Phaze I, M.T.H. Compound, Siyaganj, Indore - 452007 Tel: (0731) 2532381 email: cmccpcindo@centralbank.co.in

I have availed an loan for my graduation studies, & it has still not be settled / closed. Can I avail a loan now from Central Bank of India for IIM Indore?

Centralized Credit Processing Centre, INDORE educational Yes, you can.

All you have to do is: 1. Submit an undertaking from you & your parents, stating that they would be servicing the EMI until the completion of your IIM studies and account will be kept without default. OR 2. Submit a confirmation letter from your bank (graduation loan), stating that they would allow for a relaxation of 3 years for the EMI servicing, till you complete your course from IIM Indore.

Whom do I contact at the IIM We would be setting up a camp inside the IIM Indore premises at the time Indore campus at the time of of your reporting, you can come directly to our camp & avail the loan facility. admission for availing the education loan?

In case of further clarifications & queries, please contact:

GAURAV BHARGAVA Asst. Manager, CCPC Indore Central Bank of India Ph: +918878888028

RESHABH DAVE Asst, Manager, CCPC Indore, Central Bank of India Ph: +919713353335

Palika Plaza, Phaze I, M.T.H. Compound, Siyaganj, Indore - 452007 Tel: (0731) 2532381 email: cmccpcindo@centralbank.co.in