How long does it take to repay an IIM loan?
There’s a payback period of 15 years on such loans, and usually zero prepayment charges are applied. The margin is either very low or nil in case of premium education loans. Tax benefits can be availed on the EMI paid under Section 80E of the Income-tax Act, 1961. 0.5\% rate concession on loans for female students.
How do Indians afford MBA?
There are 6 ways in which you can finance your International MBA: A loan from an Indian Bank against existing collateral such as property. A non-collateral loan either from banks or other financial institutions. A non-cosigner loan provided by top 10 schools in the US.
Can I get 70 lakhs education loan?
The interest rate on education loans varies between 8.5\% and 15\% an annum. Most banks fund 70\%-95\% of the loan amount. “You can get an education loan up to a maximum of ₹ 75 lakh, with maximum repayment period of up to 15 years,” said Gaurav Aggarwal, associate director, unsecured loans, Paisabazaar.com.
Do students from IIM and ISB move out of country?
Sure, a lot of IIM and ISB grads move out of the country, but as a proportion of the actual class size, it is still miniscule – call it selection bias.
What is the average salary of an MBA graduate from IIM-A?
ISB and IIM-A graduates get an average pay package of Rs. 23 to Rs. 25 lakhs. Background here includes – academic profile, geographical and cultural upbringing et al. Most Indian students with engineering background opt for MBA either in India or abroad.
Should you do a second MBA from ISB?
Even so, there are folks from ISB that explore a second MBA from time to time – in our experience, this population is lower; also perhaps because the school is younger. The main motivator for these candidates is to explore the international market more than anything else. Should you go for it then?