Financial Assistance at Bharathidasan Institute of Management, Tiruchirappalli

SBI Scholar Loan Scheme

The SBI Scholar Loan Scheme is available to BIM MBA students as a collateral-free education loan facility of up to Rs. 20 lakh. It is a bank loan rather than a scholarship, which means the amount must be repaid with interest under SBI's terms. The scheme is useful for students whose families do not wish to pledge property, and the interest rate, moratorium and repayment schedule are set by SBI at the time of sanction.

When planning a loan, students should work out which parts of the fee are refundable and which are not. The caution deposit of Rs. 10,000 and the mess deposit of Rs. 7,000 are deposits rather than expenses, whereas tuition, knowledge facilities, accommodation and examination fees are recurring costs. A realistic loan amount usually covers tuition and accommodation for both years, while living costs such as food and travel are budgeted separately.

Interest paid on an education loan can qualify for a deduction under Section 80E of the Income Tax Act for taxpayers who follow the old tax regime, which can reduce the effective cost of borrowing over the repayment period. Families should confirm the current tax treatment with a tax adviser, since the rules differ between tax regimes.

Students who need additional support can also look at external scholarships and fellowships offered by the Government of India, state governments and corporate foundations to postgraduate management students. Eligibility usually depends on category, family income and academic record, and applications are made through the respective portals. Candidates should keep their income, caste and marks documents ready.

The salary outcomes help in judging repayment capacity: the median salary was Rs. 10 lakh in 2023-24 and 112 of 118 graduates were placed. These numbers are explained on the placements and careers page.

Before applying for a loan, candidates should understand the complete fee plan, which is broken down on the fee structure page.

Details on selection and the joining process are on the admission process page.