Loans

There are following types of Loan available for students

Loans from RSEF

  • Educational Loan covers tuition fees, living expenses, food, laptop and books.
  • Loans are offered at lowered/customized interest rates. An additional privilege extended to the IITT students is that the loans are available without any collateral and no processing charges will be collected.
  • Life / Credit Shield Insurance is mandatory for the loan amount availed.
  • Only Indian passport holders are eligible to avail these loans.
  • In case you have been awarded a IITT  tuition waiver at the time you were made an offer of admission, the amount you apply for an educational loan should be reduced by that extent.
  • All admitted students will be provided with further details on how, when and whom to apply for this as part of the New Admits website.

 

NAME

RSEF

Maximum loan amount

23 Lakhs or 95% of the cost whichever is lower
(inclusive of insurance cover on the loan amount)

Interest rate

The interest rate to be changed to 10.25% (Floating)

Repayment period

10 years (Option to remit only interest during the first 2 years. Principal payment for these two years will be included and EMI calculated and to be remitted in the balance 8 years period.

Moratorium

18 Months or soon after placement, whichever is earlier

EMI Option

Option-1: Standard
Option-2: Remittance of only interest during the first two years and balance interest and principal to be adjusted and collected within the remaining period. 

Security

1) Co-applicant OR
2) Personal Guarantor (preferably parent or spouse)

Acceptable by the bank 

Payment of Interest

Will be collected as a part of the EMI after the moratorium, whenever the repayment commences.

Pre-payment Charges

NIL

Insurance Cover

On the loan amount availed (Required)

Contact point

CORPORATE OFFICE

IITT GROUP

SCO914 ,NAC,MANIMAJRA,CHANDIGARH,

TEL:0172-2731964,2735448

 

DELHI OFFICE

119 ,INDRAPRAKASH

BUILDING ,21,BARAKHAMBA

ROAD,CONNAUGHT PLACE,

NEW DELHI-110001

 

HEAD OFFICE

IITT GROUP

PLOT NO. 59 ,INDUSTRIAL

AREA ,PHASE-1

PANCHKULA,HARYANA

TEL-0172-5084564,5048565

 

EMAIL-headoffice@iittindia.com

 

Bank Loan :

Student can also avail loans from leading banks of the nation. You just have to fill the form and send it to any of our offices.

Download Bank Loan Form.