There are many banks ready to provide study loans for students at Indian Institute of Management, Bangalore (IIM-B).
Among those banks ready to extend education loans are banks such as State Bank of India (SBI), State Bank of Mysore (SBM), Andhra Bank and Allahbad Bank who will extend a collateral free loan of up to Rs. 10 lakh.
For loans of amounts above Rs. 10 lakh, the students need to provide collateral. Credila Financial Services, an educational loan services company, also provides education loans under similar terms.
IIM-B provides financial assistance to needy students. The Financial Aid Policy at IIMB has plans to ensure that no student is deprived of an education at the institute for financial constraints.
The eligibility criterion for this year has also been revised to include those with an annual household income of Rs. Three lakh (Rs. Two lakh in the previous years).