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FINANCING CONSORTIUM · PRE-APPROVED LENDERS
Official Banking Partners.
Lexicon MILE has established formal institutional partnerships with top-tier public and private banking networks and NBFCs to ensure frictionless student financing.
Nationalized PSU Bank
Canara Bank
- Vidya Turan Scheme: Collateral-free loans up to ₹7.5 Lakhs.
- Concessional interest rate for female management students.
- Repayment tenure up to 15 years with moratorium benefit.
Leading Private Bank
IDFC FIRST Bank
- Paperless Digital Journey: Sanction in 48 to 72 hours.
- Zero margin money required for pre-approved PGDM batches.
- Flexible co-borrower criteria including parental and sibling support.
Specialized Education NBFC
HDFC Credila
- Dedicated Student Loans: Doorstep document pickup service.
- Pre-visa and international pathway sanction for MBA Global USW.
- Covers tuition, living expenses, books, and laptop costs.
Digital Education FinTech
Propelld
- Merit-Centric Underwriting: Academic profile-based approvals.
- Instant provisional sanction letter for quick admission confirmation.
- Stepped-up EMI options aligned with career progression.
Career Financing FinTech
Eduvanz
- Low-Interest Flexible Terms: Transparent cost structure.
- Minimal documentation with instant Aadhaar/e-KYC verification.
- Direct tuition fee disbursement to the institute portal.
Banking Partner
Cadence Bank
- Institutional Credit Line: Pre-evaluated course curriculum.
- Competitive fixed & floating interest rates for management scholars.
- Dedicated loan officer liaison throughout course tenure.
Additional Nationalized & Private Bank Tie-ups
Lexicon MILE also extends official fee structures, admission verification kits, and liaison letters for fast-track processing with leading commercial banks across India.
State Bank of India (SBI)
Bank of Baroda
Axis Bank
ICICI Bank
Punjab National Bank
STEP-BY-STEP ROADMAP · 5 SIMPLE STEPS
How to Secure Your Loan.
From provisional admission offer to campus fee disbursement, our admissions desk guides you through every milestone.
Step 01
Admissions Desk
Offer Letter & Kit
Receive your formal Lexicon MILE Admission Offer Letter and the official Course Fee Estimation Kit certified by the institute.
Step 02
Partner Selection
Select Lender
Choose your preferred partner bank or fintech lender based on interest rate, collateral requirement, and existing banking relationships.
Step 03
Verification
Document Review
Submit your academic records, KYC credentials, and co-borrower financial documents for fast-track appraisal and credit review.
Step 04
Sanction
Sanction Letter
Receive your formal Education Loan Sanction Letter within 3 to 7 working days, confirming approved amount and disbursement schedule.
Step 05
Disbursement
Campus Payment
The bank disburses tuition fees directly to Lexicon MILE per the semester schedule, and you receive an official fee receipt.
CHECKLIST · MANDATORY DOSSIER
Required Documentation.
Assemble these standard documents in digital and physical format for seamless processing with any of our banking partners.
Dossier 01
Student Academic Records
- Class 10th and 12th official marksheets & passing certificates.
- Graduation marksheets (all completed semesters) or degree certificate.
- Entrance Exam Scorecard (CAT, XAT, CMAT, MAT, GMAT, MH-CET).
- Official Lexicon MILE Admission Offer Letter & Fee Estimation Kit.
Format: Original + 2 Self-Attested Photocopies
Academic Proof
Dossier 02
KYC & Identity Credentials
- Aadhaar Card of Applicant & Co-Borrower (Linked with Mobile).
- PAN Card of Applicant & Co-Borrower.
- Valid Passport copy (mandatory for MBA Global USW pathway).
- 4 recent passport-size photographs of Student and Co-Borrower.
Verification: e-KYC / Biometric / Physical
Identity Proof
Dossier 03
Co-Borrower Financials
- Salaried: Latest 3 months salary slips with official seal.
- Self-Employed: Income Tax Returns (ITR) for last 2 assessment years.
- Updated 6-month bank statement of the primary salary / business account.
- Form 16 (Part A & B) from the employer for the preceding financial year.
Audit: Certified Bank Statement with Seal
Income Proof
FINANCIAL ESTIMATOR · REAL-TIME PROJECTIONS
Education Loan EMI Calculator.
Plan your post-MBA finances accurately. Estimate monthly installments, total interest cost, and compare flexible repayment schedules.
Total Loan Amount (₹)
₹8,50,000
₹3,00,000
₹9,00,000
₹15,00,000
Annual Interest Rate (% p.a.)
9.25%
8.0% (Repo-linked PSU)
11.0%
14.0% (Unsecured NBFC)
Repayment Tenure (Years)
5 Years
1 Year
5 Years (Standard)
10 Years (Extended)
Moratorium Benefit: Principal repayment typically commences 6 months after graduation or upon securing employment, allowing students to focus 100% on their academics.
Estimated Monthly EMI
₹17,738 / month
Principal Loan Amount
₹8,50,000
Total Interest Payable
₹2,14,280
Total Repayment Amount
₹10,64,280
TAX ADVANTAGE · INCOME TAX ACT 1961
Save Up to 30% with Section 80E Tax Deduction.
Under Section 80E of the Indian Income Tax Act, the interest paid on an education loan taken for higher education is 100% deductible from your gross taxable income. There is no upper monetary limit on the deduction amount, maximizing your financial savings throughout early career milestones.
No upper limit on interest deduction
Valid for up to 8 continuous assessment years
Available to Student or Parent Co-Borrower
Applicable on both Indian & Global MBA
8 Years
Consecutive Tax Deduction Window
Deduction begins from the financial year in which you start paying interest and continues for 7 subsequent assessment years.
APPLICANT ADVISORY · FINANCIAL GUIDANCE
Frequently Asked Questions.
Common questions from prospective students and parents regarding education loan approvals, interest rates, and disbursement.
No. Under standard banking guidelines and the Central Scheme for Interest Subsidy (CSIS), education loans up to ₹7.5 Lakhs from nationalized banks (like Canara Bank and SBI) are completely collateral-free with third-party guarantee only. Furthermore, our private banking and fintech partners (IDFC FIRST Bank, HDFC Credila, and Propelld) provide collateral-free loans up to ₹15 to ₹35 Lakhs based on student academic merit and co-borrower credit profile.
Collateral Relief: Up to ₹7.5 Lakhs collateral-free with public sector banks; up to ₹35 Lakhs unsecured with specialized partners.
An educational loan covers comprehensive academic and campus costs, including full course tuition fees, hostel and accommodation fees, examination fees, study materials, library deposits, laptop and software licensing fees, and project study expenses. For Global MBA candidates, international travel airfare and living allowances at partner university campuses are also eligible.
Comprehensive Coverage: 100% tuition, boarding, educational hardware, and overseas travel expenses are sanctionable.
The moratorium period (repayment holiday) extends throughout the full 2-year duration of your course PLUS an additional 6 months after course completion or upon getting placed in a job, whichever is earlier. During the moratorium period, students are not required to repay the principal amount. Partial simple interest servicing during study is optional and grants preferential interest discounts.
Moratorium Guarantee: 2 Years Course Duration + 6 Months Post-Graduation Grace Period before EMIs start.
Yes. You can process your loan either at your hometown branch near your permanent residence or through our partner branches in Pune. Lexicon MILE issues official letters recognized across all national bank branches in India. Additionally, our fintech partners (IDFC, HDFC Credila, Eduvanz, Propelld) execute the entire application digitally regardless of your physical location.
Anywhere in India: Apply via your local home branch or utilize 100% online approval through our institutional partners.
Our dedicated Admissions Financial Aid Helpdesk provides end-to-end guidance: issuing customized fee estimation certificates on official letterhead, verifying AICTE accreditation documents required by credit officers, connecting you directly with nodal bank managers, and tracking sanction status until the final disbursement reaches the institute.
Direct Liaison: Contact our Financial Aid Desk at +91 99674 27278 or email admissions@mile.education.
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THE FUTURE DOESN'T WAIT. NEITHER SHOULD YOU.LEXICON MILE / PUNE