VIDYA TURANT – SCHEME GUIDELINES

1. Eligibility:
 Student should be an Indian National.
 Students should have cleared the previous qualifying exam and selected through
Entrance Test conducted by Competent Authorities.

2. Purpose:
To assist the needy and meritorious students who are in need of education loans who are
pursuing their higher studies in select reputed institutions viz., Select IIMs/IITs/NITs/IISc
/ISB (Hyderabad & Mohali) and other reputed institutes only.

3. Nature of Facility:
 Education Loan

4. Quantum of Finance:

Category Institutions Limit eligible

A Students of IIMs. Limit up to Rs 25.00 lacs.

B Students of ISB, Hyderabad & Mohali Limit up to Rs 36.00 lacs.

C All other institutions other than A and B Limit up to Rs 20.00 lacs.

5. Expenses considered for loan :

a) Fee payable to college/ school/ hostel.

b) Examination/ Library/ Laboratory fee
c) Travel expenses/ passage money for studies abroad
d) Insurance premium for student borrower, if applicable
e) Caution deposit, Building fund/refundable deposit supported by Institution
bills/receipts.
f) Purchase of books/ equipments/ instruments/ uniforms
g) Purchase of computer at reasonable cost, if required for completion of the
course
h) Any other expense required to complete the course - like study tours, project
work, thesis, etc
i) Reasonable lodging and boarding charges will be considered in case the student
chooses / is required to opt for outside accommodation.
6. Margin:

 As per extant guidelines under Education Loan scheme i.e. 5%.

 Scholarship/ assistantship to be included in margin.
 Margin to be brought-in on year-to-year basis as and when disbursements are made
on a pro-rata basis.
7. Rate of Interest:

 Ongoing One Year MCLR Rate of Interest + 0.20 %.

 However further concession of 0.5% to Girl Students is not available under Vidya
Turant Scheme.

8. Security:
 No Security up to limits for institutions designated category wise ( i.e. For students
of IIMs Limits up to Rs 25.00 lacs, For students of ISB, Limits up to Rs 36.00 lacs
and for students of all other institutions Limits up to Rs 20.00 lacs )
 Parent/guardian has to join as Co-borrower.
 Assignment of future income of the student

9. Repayment: up to 15 years, irrespective of loan amount:

i. Uniform one year moratorium period is available for repayment after completion of
studies in all cases. i.e. Repayment holiday consists of Course period + (1 year after
completion of course).
ii. Repayment of the loan is to be in equated monthly installments for a period of 15 years
for all loans irrespective of loan amount.

Note: No prepayment penalty will be levied for prepayment of loan any time during the
repayment period

10. Upfront / Processing Fee: NIL

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 VIDYA TURANT SCHEME -
LIST OF APPROVED INSTITUTONS AND DESIGNATED BRANCHES
Sl.No
. INSTITUTION BRANCH CIRCLE OFFICE
CATEGORY-A
1 Indian Institute of Management, Ahmedabad, Vastrapur DP Code- AHMEDABAD
Ahmedabad 2637
2 Indian Institute of Management, Arakere Gate Branch, DP Code 2753 BANGALORE
Bangalore
3 Indian Institute of Management, Indore Indore RNT Marg DP Code-0359 BHOPAL
4 Indian Institute of Management, Calicut West Hill DP Code-833 TRIVANDRUM
Kozhikode
5 Indian Institute of Management, Kolkata Thakurpukur Branch D P Code-8626 KOLKATA
6 Indian Institute of Management, Lucknow Lucknow Janakipuram DP Code- LUCKNOW
3210
7 Indian Institute Management, Ranchi Kanke Road, Ranchi, DP Code 2869 RANCHI
8 Indian Institute Management, Trichy NIT, Thuvkudi, DP Code 3314 MADURAI
9 Indian Institute Management, Rohtak Rohtak MainDP Code 1171 KARNAL
10 Indian Institute Management, Udaipur Udaipur Main, UdaipurDP Code 2982 JAIPUR
11 Indian Institute Management, Kashipur Kashipur DP Code 2795 DELHI
12 Indian Institute Management, Raipur Raipur Main, Raipur, DP Code 381 BHOPAL
13 Indian Institute of Management, IIM Amritsar Branch CHANDIGARH
Mananwala, Amritsar. (DP Code : 6177 )

CATEGORY-B
14 Indian School Of Business, Mohali, Sector Mohali, IISER Campus DP Code 4790 CHANDIGARH
8A, SAS Nagar, Mohali – 140 306
15 Indian School Of Business, Hyderabad Madhapur branch, DP 3091 HYDERABAD
CATEGORY-C
16 Rajiv Gandhi Indian Institute of Shillong Main D P code-1184 GUWAHATI
Management, Shillong
17 IIT, Madras IIT, Chennai, D P Code-2722 CHENNAI
18 IIT, Roorkee Roorkee DP Code-2200 DELHI
19 IIT, Delhi IIT Delhi Branch, IIT Campus, Hauz DELHI
Khas, Delhi, D P Code-8599
20 IIT, Guwahati IIT Guwahati D P Code-8652 GUWAHATI
21 IIT, Kharagpur Kharagpur Branch D P Code-0190 DURGAPUR
22 IIT (BHU) Varanasi Lanka DP Code-2453 LUCKNOW
23 IIT, Kanpur Kanpur Mall Road DP Code- 1195 LUCKNOW
24 IIT, Patna Pataliputra Colony Branch, Patna , PATNA
(DP Code 2518)
25 IIT, Mumbai Mumbai IIT, Powai DP Code-2724 MUMBAI
26 Indian Institute of Technology, Raipur, Sejbahar Branch BHOPAL
Bhilai, Chhattisgarh (DP Code : 5142 )

27 NIT, Rourkela Rourkela Main, DP Code 0395 BHUBANESWAR

28 NIT, Calicut Koduvally DP Code-3487 TRIVANDRUM
29 NIT, Srinagar Srinagar Main DP Code-1190 CHANDIGARH
30 NIT, Hamirpur Hamirpur DP Code-3238 CHANDIGARH
31 NIT, Agartala NIT, Agartala D P Code-4121 GUWAHATI
32 NIT, Kurukshetra Kurukshetra Branch, D P Code 2475 KARNAL
33 NIT, Durgapur Durgapur NIT Campus Branch, D P KOLKATA
Code-8569
34 NIT Silchar Silchar, DP Code-3050 GUWAHATI
35 NIT, Karnataka, Surathkal Surathkal NITK Camp D P Code-8517 MANGALORE
36 NIT, Raipur GE Road, Raipur D P Code-2555 BHOPAL
37 NIT, Patna Patna Exhibition Road DP Code- PATNA
2004
38 NIT, Jamshedpur Jamshedpur Bistupur, DP Code 0324 DELHI
39 NIT, Tiruchirappalli Trichy Thuvakudi DP Code- 3314 MADURAI
40 NIT, Warangal Hanumakonda, DP Code 2450 HYDERABAD
41 Motilal Nehru National Institute of Allahabad Civil Lines, DP Code-0627 LUCKNOW
Technology, Allahabad
42 Visvesvaraya National Institute of VNIT, Nagpur D P Code-3124 PUNE
Technology, Nagpur
43 Xavier Institute Of Management, ICMR, Bhubaneshwar, DP Code 2957 BHUBANESWAR
Bhubaneswar
44 Faculty Of Management Studies(FMS) Kamalanagar 3F, Delhi,DP Code DELHI
0156
45 Management Development Institute(MDI) Gurgaon Main, Gurgaon,DP Code KARNAL
1723
46 Institute Of Management Technology-IMT Ghaziabad Main, Ghaziabad,DP DELHI
Code 1149
47 S. P.Jain Institute Of Management and Andheri West (SSB), Mumbai, DP MUMBAI
Research, Mumbai – 400 058 Code 2667
48 Jamnalal Bajaj Institute Of Management Nariman Point, Mumbai,DP Code MUMBAI
Studies(JBIMS), Reclaimation, Mumbai 172
49 K.J.Somaiya Institute Of Management Chembur Amarmahal, Mumbai DP MUMBAI
Studies And Research Code 232
50 Symbiosis Institute Of Business MSFC Branch, PuneDP Code 2829 PUNE
Management(SIBM), Pune
51 Symbiosis Centre for Management and Model Colony, Pune DP Code 262 PUNE
Human Resource Development (SCMHRD)
52 Xavier Labour Relations Institute (XLRI) Bistupur Main,JamshedpurDP Code RANCHI
0324
53 Narsee Monjee Institute Of Management JVPD Scheme, MumbaiDP Code MUMBAI
Studies (NMIMS), Mumbai – 400 056 0121
54 BITS – Pilani Jhunjhunu Branch,(DP Code 2330) JAIPUR
55 International Management Institute (IMI), Jit Singh Marg Branch,(DP Code DELHI
Delhi 1484)
56 IRMA – Anand Anand Main Branch,(DP Code 0163) AHMEDABAD
57 Indian School of Mines (ISM), Dhanbad Seraidhela Branch (DP Code 0986) RANCHI
58 Indian Institute of Foreign Trade, New Jit Singh Marg Branch,(DP Code DELHI
Delhi 1484)
59 NITIE – Mumbai IIT, Powai Branch,(DP Code 2724) MUMBAI
60 Shailesh J Mehta Institute of IIT, Powai Branch,(DP Code 2724) MUMBAI
Management, Mumbai
61 Indian Institute of Sciences (IISc), Indian institute of Sciences branch, BANGALORE
Bangalore DP 0683
62 S.V. National Institute of Technology, Surat KM Road Main- DP Code-336 AHMEDABAD
Surat
63 Maulana Azad National Institute of Bhopal New Market D P Code- 2651 BHOPAL
 Technology
64 Dr. B.R. Ambedkar National Institute of Dr. B.R. Ambedkar National CHANDIGARH
Technology, Jalandhar Institute of Technology,Jalandhar
DP Code-2945
65 Malaviya National Institute of Jaipur Malviya Nagar DP Code-2550 JAIPUR
Technology, Jaipur
66 Birla institute of
Technology,Mesra,Ranchi Ormanjhi Branch ( DP Code 5708) RANCHI
67 MICA ( Mudra Institute of
Communications, Ahmedabad ) Bopal Branch ( DP Code 3423) AHMEDABAD
68 A: NID ( National Institute of Design , Gandhi nagar Branch ( DP Code
Gandhinagar) 2381), AHMEDABAD
B: NID (National Institute of
Design,Ahmedabad) Paldi Branch ( DP Code 0174) AHMEDABAD
69 Institute of Management, NIRMA Thaltej Branch ( DP Code 3180)
University. Ahmedabad AHMEDABAD
70 IIT, Hyderabad, Telangana Yeddumailaram Branch(DP Code HYDERABAD
3458)

71 National Institute of Foundry and Forge NIFFT Campus Branch (DP Code RANCHI
Technology (NIFFT), Ranchi, Jharkhand 2730)

72 IIT, Jodhpur, Rajasthan Jodhpur Main( DP Code 1088) JAIPUR

73 LN Mittal Institute of Saint Angella Sophia School Branch JAIPUR

Information & Technology University, ( DP Code 8465)
Jaipur

74 International Management Alipore, Kolkata, ( DP Code : 0254) KOLKATA

Institute (IMI),Kolkata, West Bengal

75 T. A. Pai Management Institute (TAPMI), Udupi Town Branch (DP Code :0630) MANGALORE
Manipal , Karnataka

76 Indian Institute of Information Allahabad Main, (DP Code : 0627) LUCKNOW

Technology(IIIT), Allahabad,

77 Indian Institute of Technology IIT,Gandhinagar Branch, AHMEDABAD

(IIT) Gandhinagar, Gujarat ( DP Code: 5159)

78 Bharathidasan Institute of Management, Thuvakudi Branch, ( DP Code: 3314) MADURAI

Tiruchirappalli
79 Indian Institute of Technology(IIT), Indore Simrol IIT Branch,(DP Code : 6223) BHOPAL

80 Indian Institute of Technology(IIT), IIT, Palakkad Branch, TRIVANDRUM

Palakkad (DP Code: 6174)

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