IIM Indore Scholarships

The Indian Institute of Management Indore was established in 1996 as the sixth IIM in the country, following the footsteps of IIM Calcutta, IIM Ahmedabad, IIM Bangalore, IIM Lucknow, and IIM Kozhikode. The motto of IIM Indore is, "The Root of all Achievement is Management," which highlights its commitment to excellence in the field of management. All the IIMs hold a special appeal due to their reputation for providing an elite MBA degree, serving as an entry passage to the world of business both domestically and internationally. Every year, lakhs of students eagerly line up with the aspiration of getting admission to the prestigious Indian Institutes of Management (IIMs). This is because the MBA programs offered by these premium business schools are renowned for their comprehensive curriculum, exceptional faculty, industry connections, and immersive learning experiences.

However, for individuals from financially disadvantaged backgrounds, the road to an IIM often encounters financial constraints, comprising tuition fees, living expenses, study materials, and other associated costs. Acknowledging the financial limitations that may be faced by students from low family incomes and ensuring deserving candidates are not held back by these limitations, IIMs in the country have implemented a variety of initiatives to offer financial support to students, following specific guidelines and eligibility criteria. Scholarships, grants, and financial aid programs are designed to alleviate the financial strain, making it feasible for meritorious students from varying backgrounds to access the world-class education and networking opportunities that IIMs offer.

IIM Indore has taken the initiative to establish several Need-Based Financial Assistance (NBFA) programs, aiming to support students hailing from economically disadvantaged backgrounds. The need-based IIM Indore scholarships are jointly administered by the PGP Executive Committee and the NBFA Committee. Other than the need-based financial assistance, PGP students receive numerous scholarships offered by both central and state governments and various industries based on merit or a combination of merit and financial need. During the IIM Indore Admission Process, the institution provides complete information about the available financial assistance. In addition to IIM Indore scholarships, a diverse range of scholarship programs are available to students, offered by the central/state government, as well as various industries and corporations collaborating with the institute.

IIM Indore offers various kinds of scholarships to its students. This IIM Indore scholarship is a backbone to its students by supporting them to meet the fee requirement for the premium education at the Indian Institute of Management Indore.

The most prominent IIM Indore scholarship is the NBFA scholarship which is an internal scholarship program of IIM Indore. Candidates can apply for the NBFA at IIM Indore scholarship to avail its benefits. It is also known as Need-Based Financial Assistance to its selected candidates. The candidates who apply for this IIM Indore scholarship are analyzed by the committee formed for the NBFA IIM Indore scholarship. The institute offers the NBFA scholarship on the basis of different parameters. These eligibility criteria are decided by the committee itself.

IIM Indore scholarships are designed to cater to the student's financial needs. The institution seeks that a qualified candidate should not be robbed of the chance of studying at IIM Indore for financial reasons only. Candidates of PGP, IPM, and PGP-HRM with family income is less than INR 9,00,000 are eligible to apply for the NBFA IIM Indore scholarship.

IIM Indore is one of the top B-schools across the country.  IIM Indore scholarship serves to meet the towering prices of education. Prices are making it challenging for students in lower-income groups to fend for the education fees. The fee for MBA, HRM, IPM, FPM, and PGP at IIM Indore ranges between INR 10-15 lakh for one year, i.e. two semesters. The Indian Institute of Management Indore scholarships take this financial hindrance into consideration. The NBFA IIM Indore scholarship addresses hurdles for a student from lower lower-income group to study at IIM Indore throughout.

The institute welcomes candidates who have the potential and skills in the institution. IIM Indore scholarship is meant to serve the section of these excellent candidates. Candidates need help managing to fulfill the fee requirements. The institution provides NBFA IIM Indore scholarships to such participants in need of financial assistance. NBFA covers their educational fees and other miscellaneous expenses. The premium education of management and leadership is not out of reach for any worthy participant due to financial reasons. If the free structure is towering and unfathomable, the NBFA IIM Indore scholarship comes to an aid..

The NBF is an IIM Indore scholarship offered to aid the participants who find it difficult to cover their expenses or meet the fee requirement. A committee has been formed specifically for handling the operations related to the Indian Institute of Management Indore scholarships. The committee awards the selected participants with the NBFA IIM Indore scholarship after assessing the participants’ situation from various aspects. This assessment is done every year by the IIM Indore scholarship committee. The committee considers the income of the participant’s family in the previous financial year and the assets owned by them. The disciplinary record of the participants and their academic performance are also taken into consideration before awarding with IIM Indore scholarship.  The committee follows an appropriate and logical selection procedure, a student’s family background, assets owned by the family, and other aspects of the situation of a candidate are considered.

In the first stage of the assessment test, the participant’s financial needs are assessed by evaluating the information in the application submitted by the participant. For the next selection round for qualifying for the NBFA IIM Indore scholarships, the selected participants are summoned for personal interviews with the NBFA committee for the IIM Indore scholarship. During this interview session, the NBFA committee analyzed the participants' financial needs from deeper aspects of their situation, verifying various details and information provided by the applicant. Based on the statistics drawn on the basis of the above-mentioned criteria, applicants are selected to be awarded with the assistance of Indian Institute of Management Indore Scholarships.

The financial assistance provided by the Indian Institute of Management Indore scholarships is further divided into two categories:

• If the candidate applying for the IIM Indore scholarship’s annual family income is not more than INR 4,50,000, the assets owned by the participant’s family are estimated before offering the IIM Indore scholarship. The perimeter of a land asset owned by the participant’s family should not be more than 600 square feet on the mark. If the student qualifies all these criteria of selection then the committee will reimburse 100% of the interest accrued on the sum of money.
•  Now suppose the participant’s family annual income lies from INR 4,00,001 to 9,00,000. Other assessment criteria, i.e., not owning a land asset more than a periphery of 600 square feet on the mark. In that case, the IIM Indore scholarship committee will reimburse up to 50% of the interest involved in the sum of money borrowed from the bank.
  In addition to the NBFA which is an integrated part of the Indian Institute of Management Indore scholarship, there are several other methods of acquiring financial aid for students to study in IIM Indore. For candidates who dearly need IIM Indore scholarships to assist in covering their educational expenses, multiple corporate institutions and industries like Aditya Birla Group and OP Jindal Groups, also offer IIM Indore scholarships as financial for students. These industries have taken this initiative to give assistance to students who find it difficult to allocate the necessary funds with the help of the IIM Indore scholarship. Apart from the Indian Institute of Management scholarships, there are also several other mediums to get financial assistance or aid for educational expenses. The expenses involved in education are inevitable while studying in the top B-school in India. Among the IIM Indore scholarships, there is the Citi Women’s Leader Award and the Siddharta Padam Award which is awarded to selected participants with a fair amount that can be utilized to cover a fair share of expenses incurred in the course of the program without relying on IIM Indore scholarship.  

The government of India in cooperation with the ministries of government and the state government has established the National Scholarship Portal (NSP). This government-initiated Indian Institute of Management Indore Scholarship is a one-stop solution for students to apply for IIM Indore scholarships under the state government or the central government.

IIM Indore Need-Based Financial Assistance (NBFA) 

IIM Indore Scholarships offer financial aid to meritorious students from financially disadvantaged backgrounds. The best among IIM Indore scholarships is the need-based financial assistance provided solely by the institute. The primary goal of the IIM Indore Need-Based Financial Assistance (NBFA) program is to ensure that no student is restricted by financial limitations to continue their studies at the institute. 

The application details of IIM Indore Need-based Financial Assistance (NBFA) are given below;

• Students admitted to the Post-Graduate Program in Management (PGP), PGP HRM (PGPH), and Integrated Program in Management (IPM) are eligible to apply for this financial aid based on their annual family income.
• Candidates meeting the eligibility criteria can submit their applications using the prescribed form, available at the office. 
• The NBFA Committee follows a two-step process to determine the number of scholarship recipients and the amount of aid. The financial assistance awarded through NBFA varies annually and is also based on the family income, family assets, and disciplinary history of the applicant. 
• The initial step involves shortlisting students’ applications based on their financial needs. In the subsequent stage, shortlisted applicants are called for a personal interview with the NBFA Committee. After evaluating the financial requirements and verifying the accuracy of the information provided in their applications, financial assistance is granted to deserving applicants.

IIM Indore Scholarships: Eligibility Criteria for IIM Indore Need-based Financial Assistance (NBFA)

• PGP, PGP HRM, and IPM students with an annual family income below INR 9,00,000 are eligible for this financial aid.
• Students who have applied under the EWS quota but have secured admission through the general or any other quota are also eligible to apply for NBFA. Similarly, those who have applied through the SC, ST, OBC, or physically handicapped quotas and meet the mentioned eligibility criteria can also apply. 

Scholarships Offered By Central and State Governments

Apart from the IIM Indore scholarships, the institute facilitates access to several scholarships offered by central and state governments, ensuring that students can pursue their academic journey without being restricted by financial constraints.

Details of various scholarships offered by central and state governments are given below

1. Central Sector Scholarship for ST Students: The scholarship is provided by the Ministry of Tribal Affairs under the Government of India, and is based on the previous year's annual family income of the candidate. This scholarship encompasses various expenses such as tuition fees, non-refundable charges, lodging and boarding costs, expenses for books and stationery, and even the cost of IT equipment. Eligible students are entitled to reimbursement for these expenditures through this scheme.

2. The Central Sector Scholarship for SC Students: Administered by the Ministry of Social Justice and Empowerment under the Government of India, the scholarship is distributed based on the annual family income from the preceding financial year.

3. Scholarship by the Department of Empowerment of Persons with Disabilities: Under the Ministry of Social Justice and Empowerment, the Government of India, top-class education scholarships are provided to students with disabilities. This scholarship opportunity, based on the annual family income, is aimed at supporting postgraduate degrees or diplomas.

4. Scholarships offered by the Higher Education Department of the Madhya Pradesh Government: Madhya Pradesh offers scholarships to students at various academic levels, including Pre-Metric, Post-Metric, Undergraduate, Postgraduate, and Ph.D. candidates. The scholarships cover a range of categories such as Post Matric Scholarships for SC/ST Candidates, Post Matric Scholarships for OBC Candidates, and the Mukhya Mantri Medhavi Vidyarthi Yojana.

5. The Rajarshee Sahu Maharaj Scholarship: Presented by the Government of Maharashtra, the scholarship is designed for SC students hailing from Maharashtra. This scholarship program fully reimburses the recipients' tuition fees.

6. The Prime Minister’s Scholarship Scheme (PMSS Scholarship): PMSS offers a notable opportunity for students. The Prime Minister’s Scholarship Scheme (PMSS Scholarship) is a prestigious educational assistance program established by the Government of India to support the higher education aspirations of the wards of Ex-Servicemen and Ex-Coast Guard personnel. This scholarship aims to provide financial aid to these deserving candidates and help them pursue their educational goals without the burden of excessive financial constraints. Eligibility criteria typically require the applicant to be a dependent ward of Ex-serviceman or Ex-Coast Guard personnel who is eligible for a pension from the Ministry of Defense under the Pension Regulations of the Army, Navy, and Air Force.

IIM Indore Scholarships

In addition to the NBFA IIM Indore scholarship, there are several other options available for assisting a candidate in meeting the free requirements. Various private companies and industries take the initiative to give scholarships to students in need of financial aid. The following are a few IIM Indore scholarships which a candidate can avail benefits from.

The NBFA IIM Indore scholarship committee follows a rigorous selection process. A candidate applying for the IIM Indore scholarship is analyzed from several parameters. The first and foremost criterion of assessment is the candidate’s family income, which should not exceed INR 8 Lakhs. The second criterion of selection for the NBFA IIM Indore scholarship is the assets owned by the family.

However, the candidates applying for the NBFA IIM Indore scholarship can’t rely completely on it. The institution reserves the right to accept or reject any respective application. In that case, candidates belonging to the Middle-class or Lower-income group might not secure a place for the IIM Indore scholarship. Below we have provided the list of the IIM Indore scholarships:  

• OPJEMS
• Aditya Birla Scholarship
• Society General Global Solutions Centre India Scholarship
• Renewal Education Trust Scholarship
• Hindustan Unilever/ T Thomas Scholarship
• YES Bank scholarship
• NTPC Scholarship Scheme
• Ministry of tribal affairs scholarship
• Ministry of Social Justice and Empowerment Scholarship
• Ministry of Social Justice and Empowerment Department of Persons with Disabilities\

Now let’s see these IIM Indore scholarships in more detail manner:

• IIM Indore OPJEMS: The OP Jindal Engineering and Management scholarship is awarded on the basis of Merit to the PGP students of the second year. This IIM Indore scholarship is awarded to second-year students on the basis of their academic performance in the previous year that is students who are ranked under the top 10 students are eligible to apply for this scholarship. Every year one student will be awarded the IIM Indore scholarship. The amount of the scholarship goes up to INR 1.50 lakh.
• IIM Indore Aditya Birla Scholarship: The Aditya Birla Scholarship is also a merit-based scholarship that is awarded to the students of the PGP program, both from the 1^st and the 2^nd year. In the first year, students are awarded the IIM Indore scholarship on the basis of Merit. If the candidate aspires to continue to take advantage of this scholarship for education at IIM Indore in the 2nd year, the participant will have to belong to the top 25% of the previous year batch. This IIM Indore scholarship amount is INR 1.50 lakh.
• IIM Indore Society General Global Solutions Centre India Scholarship: This scholarship is awarded to a specific group of participants, i.e. participants who register for the economics finance and accounting core courses. This IIM Indore scholarship is awarded to the student who is on the director’s merit list it is the highest CGPA. This award also includes a medallion and a certificate.
• IIM Indore Renewal education trust scholarship: Students from the Indian Institute of Management can avail the benefits of this scholarship which is for PGP students. This IIM Indore scholarship is awarded on the basis of the academic performance of the student in the first year and considering the financial needs of the participants who have applied for the IIM Indore scholarship. The amount awarded in the scholarship is INR 100,000.
• IIM Indore  Hindustan Unilever/ T Thomas scholarship: This is also a merit come means scholarship that is given by the HUL to a PGP student in the second year, considering their academic discipline in the previous year. The award of this IIM Indore scholarship amounts to 1,00,000.
• IIM Indore YES bank scholarship: The selection criteria of participants who are awarded the IIM Indore scholarship fall under a few criteria. The first-year students receive the IIM Indore YES bank scholarship if they belong to the top 20 students as per the admission criteria, and if the students aspire to continue to avail the benefit from the IIM Indore YES bank scholarship by studying in a PGP program, the participant must fall under top 20% of their batch on the basis of the current CGPA and the participant must also be a member of at least one community group.  The amount awarded in this IIM Indore scholarship is INR 2 lakh.
• IIM Indore NTPC Scholarship Scheme: This scholarship belongs to the reserved section of students. The amount of this IIM Indore scholarship is INR 48,000 for every academic year.  Participants belonging to SC/ST/PWD categories are eligible to avail the benefits of this scholarship in the second year given that they successfully pass the first year examination in one attempt.
• IIM Indore Ministry of tribal affairs scholarship (ST): This scholarship is an initiative by the government of India and the Ministry of tribal affairs which invites applicants for the National Scholarship for Higher Education for the scheduled tribe. As the name states this IIM Indore scholarship covers the tuition fees of the PGP program in full.
• IIM Indore Ministry of Social Justice and Empowerment Scholarship (SC): This IIM Indore scholarship is another government initiative, The Ministry of Social Justice and Empowerment invites applicants for the national scholarship for higher education for students of the PGP program. For meritorious SC students is the initial policy for an aspiring student of the first year, This IIM Indore scholarship covers the tuition expenses in full.
• IIM Indore Ministry of Social Justice and Empowerment Department of Persons with Disabilities: If a person has disabilities and more than 40% of his body is disabled then that participant is eligible to take advantage of this IIM Indore scholarship.  The participant who will be awarded the scholarship will receive INR 2,55,000  per year.

IPM at IIM Indore

The integrated program in management at IIM Indore is a five-year integrated program specially designed for students who have just passed the Class 12 examination. The IPM at IIM Indore is a combination of two courses, the first three years are for a bachelors and the next two years are for a Master's in business administration. The fee for IPM at IIM Indore is estimated at INR 20 lakh for the entire course. IIM Indore scholarships are offered to young students for admissions and education IPM at IIM Indore. Admission to this course is done through the IPMAT Exam. The towering fee of IPM at IIM Indore can be a major factor for consideration, and the IIM Indore scholarship serves the purpose of assisting in meeting the fee requirement. The students of IPM at IIM Indore are promoted to the Master in Business Administration without a CAT exam. , nevertheless, the fee structure remains the same. Indian Institute of Management Indore scholarships are designed to encourage participation from the students right after their plus two examinations. The young minds get a platform through the IPMAT exam to SS their intelligence and rank their intellectual abilities through rigorous competition.

IIM Indore Scholarships Offered by the Government Of India

The government of India provides scholarships for standard XII students aspiring to pursue education from a prime institution. There are various scholarships offered by the government in the name of a notable person or an event. These IIM Indore scholarships offered by the Government of India are awarded to a fair share of applicants with the objective of encouraging world-class education.  IIM Indore scholarships offered by the Government of India can be a good alternative to the NBFA IIM Indore scholarship. Young students in need of financial assistance for further education can take the help of these scholarship schemes to cover their tuition fees.

These scholarships play a major role in the education sector of India. Students who are not financially sound enough to pay for the educational fees of premium education institutions like IIM Indore are eligible to avail the benefits of these IIM Indore scholarships offered by the government of India.

These IIM Indore scholarships offered by the Government of India are awarded only to selected candidates on the basis of academic performance, CGPA, and family situation. The family income in the previous year and the student's situation are analyzed for different spectrums. The allotment of IIM Indore scholarships can be merit-based or exam-based. Hence in order to avail of the benefits the student will have to strive hard, prepare, and practice for winning the scholarship offered at the Indian Institute of Management Indore scholarships by the government.

These IIM Indore scholarships offered by the Government of India can help students ease the burden of increasing educational fees and make way for them to move ahead.  Candidates can pursue their dreams of studying in the best colleges that offer premium education. Let's brief on IIM Indore scholarships offered by the Government of India are given below in this article. In order to avail the benefits of these IIM Indore scholarships the candidate will have to secure top ranks in the following examinations conducted by the Government of India:

• Swami Vivekananda Scholarship (SVMCM)
• Schindler Igniting Minds Scholarship
• Chaatravriti Scholarship Yojana
• IIM Indore Merit-Cum-Means Scholarship
• IIM Indore Inspire Scholarship
• IIM Indore Post Matric Scholarships Scheme
• IIM Indore Central Sector Scholarship
• IIM Indore AICTE Pragati Scholarship for Girls
• IIM Indore Combined Counselling Board (CCB) Scholarship
• IIM Indore Foundation for Excellence (FEE) Scholarship
• IIM Indore Vidyasiri Scholarship

Briefings on Indian Institute of Management Indore scholarships offered by the government of India:

Exam Name	Eligibility Criteria	IIM Indore Scholarship Amount	Application Dates
Swami Vivekananda Scholarship (SVMCM)	Classes 11 and 12, post-graduates, graduates, M.Phil and Doctoral students	Scholarship ranging from Rs 1000/- Rs 8000/- per month	July 12, 2023 - August 2023
Schindler Igniting Minds Scholarship	Class 12 in Science with a minimum of 65% marks.Family income should not exceed 2 lakh p.a.	Amount of around Rs. 20,000	–
Chaatravriti Scholarship Yojana	Class 12 with at least 60% marks	Last date for applying is October 31st, 2023.	Last date for applying is October 31st, 2023.
IIM Indore Merit-Cum-Means Scholarship	Minimum 50% marks in 12 class and must belong to Minority, must get admission in the professional course through a Common Admission process	Monthly reward of Rs. 1,000 for 10 months, and reward of ₹ 20,000 additionally to pay tuition fee.	October
IIM Indore Inspire Scholarship	If among the top 1% in Class 12, Top 10,000 rank in JEE or the NEET exam	Rs. 80,000 on an annual basis to pursue a bachelor's and Master in Science.	Mid of October
IIM Indore Post Matric Scholarships Scheme	At least 50% in the last exam	For Class 11 & 12 Students –Rs. 7,000 paFor technical Courses at Higher Secondary Level - Rs.10,000 pa	November 1st, 2023 - February 2024
IIM Indore Central Sector Scholarship	Passed class 12 with 75% marks	For Graduation- Rs. 1,000 p.m. for 3 yearsFor Post-Graduation- Rs. 2,000 per month	September 15th, 2023
IIM Indore AICTE Pragati Scholarship for Girls	from any of the AICTE-approved colleges.Female candidates in 1st-year courses	Tuition fee waiver,Rs. 30,000/- may be reimbursed for the purchase of books, vehicles, laptops	October 31st, 2023
IIM Indore Combined Counselling Board (CCB) Scholarship	Class 10 & Class 12 with a min marks of aggregate  33% to 50%	Rs.60,000 - Rs.70,000 for higher education	The first week of July
IIM Indore Foundation for Excellence (FEE) Scholarship	Pursuing professional degree courses such as BE./B. Tech, Integrated 5-Year Dual Degree and must pass with a minimum 70% marks in 12	Will fund the course fees	July to December
IIM Indore Vidyasiri Scholarship	Post-matric students from backward classes	Rs 1500/- per month	--

IIM Indore Scholarships Offered by the Private Sector

The corporate sector and the industries are both aware of the rising cost of graduation and post-graduation courses. The existence of the IIM Indore scholarship is necessary as the rising prices have made it difficult for parents and guardians of the economy's middle or lower strata to come up with the required funds. IIM Indore scholarships offered by the Private sector are offered to cover the educational fees and expenses incurred for the duration of Education. Various industries and companies take the initiative in providing scholarships to IIM participants. Financial aid for education is offered by the private sector with the objective of encouraging management education for proactive workforce creation. 

The industries and the economy benefit as a whole through a more efficient workforce. Therefore, IIM Indore scholarships offered by the Private sector generate a quality workforce and encourage students to pursue quality education and training.

Below is a table of IIM Indore scholarships offered by the Private sector:

Name Of The IIM Indore Scholarship	Indian Institute Of Management Indore Scholarships	Amount
Aditya Birla Scholarship	Few students from both first and second years are shortlisted who belong to the top 25% of students of their respective batches in terms of performance in academics, entrance, and CGPA.	Rs.175,000 per student
Uday Nayak Scholarship	A second-year student is shortlisted each annual year for this scholarship.	Rs.10,000
T Thomas Scholarship	A second-year student is shortlisted for this scholarship based on merit.	Rs.100,000
OPJEMS Scholarship	Two students are shortlisted for this scholarship one each from the first and second year considering the participant’s academic discipline.	Rs.125,000 per student
Rajesh Kaushik Memorial Scholarship	Selection for this Indian Institute of Management Indore scholarship is strictly merit-based.	Rs.150,000 per annum
Cognizant Technology Solutions - B’izard Scholar	Three students are shortlisted on the basis of academic excellence, leadership qualities, and willingness to serve the community and study further in the same field.	Winner: Rs.3 lakhs, 1st Runner-up: Rs.2 lakhs and 2nd Runner-up: Rs.3 lakhs
Societe Generale Global Solution Centre India Scholarship	Students in need are nominated by the institute and are shortlisted on the basis of interviews.	Full tuition fee waiver

Student Loans

Student loans can be a good alternative to the IIM Indore scholarship for meeting educational fee requirements.

Although India Institute of Management Indore scholarships are a great option for financial aid and assistance for a participant of PGP at IIM Indore. But the competition for those scholarships is very fierce, only the top students are selected to be awarded a specific IIM Indore scholarship. However, it might be the case that other needy students who could use the financial assistance might not be the recipients of the honor of being awarded any specific IIM Indore scholarship.

In this case, the participant can approach various other mediums of acquiring funds for their education other than relying on the chances of IIM Indore scholarship.  Quite a number of banks and other financial institutions provide student loans at minimum interest rates, for example, there is the SBI scholar loan, OBC customized education loan, Union Bank special education loan, Axis Banks education loan, and UKO Bank super premier educational loan scheme

Most banks provide this education loan at minimum interest rates and the amount they offer has a huge margin, these loans can not only cover your tuition fees but also accommodation costs, learning expenses, and funds to cover other necessities as well.

Key Features of IIM Indore Scholarship or Student Loans:

• The range of loan limits varies from Rs. 20 lakh to Rs. 30 lakh.
• There is a moratorium period on the loans, once the moratorium period ends, the issuer will have to start paying back.
• The period for paying back the loan is generally fifteen years and usually zero payment charges are applied on these student loans.
• Another perk that this premium loan offers is that it is tax deductible. Tax benefits can be availed on the interest paid under section 80E of the Income Tax Act.
• Female students can avail of more benefits from this loan as a 0.5% rate concession is offered to them on the loan.

Student Loans	Max Amount	Moratorium Period	Rate Of Interest	Repayment Period	Security
IDBI Bank Premier Education Loan	Rs.20 lakh	Course duration or 1 year month of getting a job, whichever is sooner.	Base rate = 9.65%	Below Rs.7.5 lakh - 10 years Above Rs. 7.5 lakh - 15 years	Rs.4 lakh to Rs.10 lakh – 3rd party guarantor Above Rs. 10 lakh- Tangible Collateral.
OBC's Customized Education Loan Scheme IIMs, IITs & XLRIs	Rs.15 lakh	Course period + Grace period based on predefined conditions	Up to 10.50%	Upto Rs.7.50 lakh - 10 yearsAbove Rs.7.50 lakh - 15 years	Parents/Guardians as co-borrowers
SBI's Scholar Loan	Rs.40 lakh	Course period + 1 year	Up to 10.20%	15 years	Parents as co-borrower
CBI's Special Education Loan Scheme to IIM Students	Rs.30 lakh	Course period + 1 year	MCLR = 12 Month	15 years	Assignment of future income
BOI's Exclusive Education Loan Scheme for Students of Premier	Rs.20 lakh Rs. 30 lakh with 100% tangible collateral	Course period + 1 year	MCLR = 9.25%	15 years	Assignment of future income + parents as co-borrower
Union Bank's Special Education Loan Scheme	Rs.30 lakh	Course period + 1 year	8.10%	15 years	Parents as co-borrower
Axis Bank's Education Loan	Rs.20 lakh	Course period + 1 year	8.85%	15 years	Collateral or guarantor depending on a case-to-case basis
UCO Bank's Super Premier Educational Loan Scheme	Rs.30 lakh	Course period + 1 year	8.40%	15 years	Nil
ICICI Bank Education Loan	Rs 1 crore for domestic courses	Course period + 1 year	9.85%* per annum	Up to 8/10 years + 6 months	Nil

SBI Scholar Scheme For IIM Indore Scholarships

 Let's explore the SBI Scholar Scheme for IIM Indore Scholarships in a more detailed manner:

Loan Criteria	Details
Loan Limit	Unsecured SBI Education loan - Rs 50 lacs Collateralized loan - Upto 100% value of the collateral A higher amount can also be offered, depending on the student’s profile
Expenses Covered	Tuition or course fees     Accommodation charges     Travel Expenses     Cost of instruments and study equipment     Cautionary deposits     Fees of Examination
Accepted co-applicant	Parents, Parents in law, Siblings, Spouse
SBI education loan interest rate/rate of interest	Starts from 8.35%
Loan Margin	Accommodation charges
Moratorium Period	Travel Expenses
Repayment Duration	Cost of instruments and study equipment
Repayment Policy	Cautionary deposits
Eligibility Criteria	Fees of Examination
Acceptable Collaterals	Parents, Parents in law, Siblings, Spouse

Baroda Scholar Scheme For IIM Indore Scholarships

Important information regarding the Baroda Scholar Scheme for IIM Indore Scholarships in brief is given below. Candidates can get help from the information below for borrowing.

Baroda Scholar Scheme For IIM Indore Scholarships- Loan criteria	Details
Repayment Policies	The student is liable to pay simple interest in the moratorium period
Repayment Duration	10-15 years
Moratorium Period	Course duration + 6 months
Loan Limit	Without collateral up to Rs 40 lacs With collateral up to Rs 80 lacs
Expenses Covered	College tuition feesHostel and mess charges Cost of books, uniforms, and instruments Cost of ExaminationLibrary and lab fees Expense of laptop or computers if mandatory for the course
Eligibility Criteria	Applicant must be a citizen of India If the student is an NRI, first need to be enrolled into a course in India
Baroda Bank Education loan interest rate/rate of interest	Starts from 8.85%
Accepted Co-applicant	Parents, Parents-in-law, Siblings, Parent’s siblings, Spouse, First cousins

HDFC Bank Scheme

HDFC Bank Scheme Loan criteria	Details
Repayment Duration	Up to 15 years
Moratorium Period	Course duration + 1 year or 6 months after getting a job (whichever is earlier)
Loan Limit	Without Collateral up to 50 loans With collateral as per the requirement of the applicant (flexible)
HDFC Bank Education loan interest rate/rate of interest	In between 9-14%
Expenses Covered	Purchase of books, instruments, uniformsTraveling costAccommodation expenses
Eligibility Criteria	Applicants and their co-applicants must comply with HDFC Credila's credit and underwriting standards. They must be Indian residents of age between 16 and 35 yearsStudents must be admitted into higher education institutions in India through participation in competitive exams.
Accepted Co-applicant	Parents, Parents in law, Siblings and Spouse
Acceptable Collaterals	Property - Flat, non-agricultural land Residential Property, house Liquid securities like- Insurance Policies, HDFC Bank Fixed Deposit,  Debt Mutual funds / KVP

IIM Indore Industry-Sponsored Scholarships

Other than IIM Indore scholarships, the institute also facilitates access to a range of industry-sponsored scholarships to support the students enrolled in its PGP/management courses. IIM Indore industry-sponsored scholarships are offered based on specific eligibility conditions, including annual family income and previous academic records.  

IIM Indore industry-sponsored scholarships are given below along with details including the application process and eligibility criteria;  

1. Aditya Birla Group Scholarship: Provided by the Aditya Birla Group, this scholarship is granted to 1 or 2 exceptionally accomplished students in their first year at the institution. The selection process involves shortlisting the applicants and a personal interview conducted by the Aditya Birla Group for the shortlisted students. To retain this scholarship in the second year, selected students must maintain a position within the top 25 in terms of CGPA from their first year.
2. OPJEMS Scholarship: Presented by the OP Jindal Group, this scholarship is offered to 1 or 2 students of the management program at the institute. The students who are eligible to apply for this scholarship are the top 20 students from the second year, determined by their CGPA from the first year. Selection is finalized by the OP Jindal Group through a combination of a written test and a personal interview for the applicants.
3. Citi Women’s Leader Award: The Citi Women Leader Award aspires to promote and recognize female students in the institute who exhibit promising leadership qualities. Selection is based on their Statement of Purpose followed by personal interviews arranged by Citi. The award is in its third successful year.
4. IDFC FIRST Bank MBA Scholarship: The IDFC FIRST Bank MBA Scholarship is a merit-based initiative designed to support students pursuing a full-time MBA program for two years. The scholarship is distributed based on the applicant’s financial need and aims to relieve the financial burden for deserving candidates seeking to enhance their academic and professional pursuits in the field of business administration.

Additional industry-sponsored merit scholarships include:

• A scholarship of Rs. 1,50,000/- is provided by the State Bank of India to eligible students based on merit.
• Eicher Motors offers a scholarship of Rs. 50,000/- on a merit basis every year. 

Moreover, there are special recognitions and awards given to the PGP students at IIM Indore, and they are;

• The CSI Signature Award Gold Medal is presented to the topper of the PGP batch.
• The KK Alagh Gold Medal for Overall Outstanding Performance Woman is bestowed upon the outstanding female student in the PGP batch for her exceptional overall performance at the Institute.

IIM Indore Scholarships and Awards 

IIM Indore offers scholarships, financial assistance, and awards to PGP students based on academic performance and annual family income in various categories.

Categories of IIM Indore scholarships and awards given to the PGP students at the institute are given below;

• Need-based Financial Assistance (NBFA) 
• Scholarships offered by the Central/State Government and other Higher Education Departments
• Industry-Sponsored Merit Scholarships
• IIM Indore Gold Medal Award

IIM Indore Gold Medal Awards

In addition to several IIM Indore scholarships and financial assistance, the institute extends various awards and acknowledgments to its student community. IIM Indore gold medal awards are conferred as a recognition of the academic talent displayed by students in the PGP Batch. Recognizing exceptional academic achievements, IIM Indore Scholastic Performance Gold Medals are awarded to students who exhibit outstanding academic performance within the PGP batch. These awards not only celebrate academic excellence but also motivate students to strive for distinction in their studies and contribute positively to the academic community at the institute. 

IIM Indore gold medal awards are:

1. IIM Indore Gold Medal for First Rank: Based on their academic achievement, the institute awards a gold medal to the student securing the first rank in the PGP batch.
2. IIM Indore Gold Medal for Second Rank: Similar to the first rank medal, this gold medal is bestowed upon the student achieving the second rank in the PGP batch in terms of academic performance.
3. IIM Indore Gold Medal for Third Rank: Students who secure the third position in the PGP batch, based on academic performance, are honored with this gold medal.
4. IIM Indore Gold Medal for Best Women Participant: This gold medal is granted to the most outstanding female students within the PGP batch, considering their academic performance as the criterion.

Frequently Asked Questions about IIM Indore Scholarships

Q. What is the need-based financial assistance offered at IIM Indore?

Ans. IIM Indore has taken the initiative to provide various Need-Based Financial Assistance (NBFA) programs, to support students from economically disadvantaged backgrounds. The need-based IIM Indore scholarships are jointly administered by the PGP Executive Committee and the NBFA Committee at Indore. This financial assistance offers financial aid to meritorious students from low-income backgrounds. IIM Indore need-based financial assistance is provided solely by the institute. The primary goal of the IIM Indore Need-Based Financial Assistance (NBFA) program is to ensure that no student is restricted by financial limitations to continue their studies at the institute. 

Q. What is the reimbursed amount for the Need-based scholarships?

Ans. Based on annual family income, students whose family income is below INR 1,50,000 are eligible for a 75% tuition fee reimbursement. Likewise, those with a family income ranging from INR 1,50,000 to INR 2,00,000 can avail of a 50% tuition fee reimbursement.

Q. What are the other categories of financial assistance provided by IIM Indore?

Ans. IIM Indore provides scholarships in the following categories;

• Need-based Financial Assistance (NBFA) 
• Scholarships offered by the Central/State Government and other Higher Education Departments
• Industry-Sponsored Merit Scholarships
• IIM Indore Gold Medal Award

Q. What are the basic eligibility criteria to avail of IIM Indore scholarships?

Ans. IIM Indore offers need-based financial assistance and facilitates access to numerous scholarships offered by central/state government and various industries based on merit or a combination of merit and financial need. Meritorious students hailing from low-income backgrounds are eligible to apply for the scholarships offered at IIM Indore.   

Q. Are there any IIM Indore scholarships available for SC/ST students?

Ans. IIM Indore facilitates access to the Central Sector Scholarships for SC/ST Students Administered by the Ministry of Social Justice and Empowerment/Ministry of Tribal Affairs under the Government of India. The scholarships are provided based on the annual family income from the preceding financial year. Eligible students are entitled to reimbursement for the expenses incurred during their studies at the institute through this scheme. Under the Central Sector Scholarships for SC/ST students, an amount of INR 4,50,000 is awarded to students who meet the eligibility criteria. 

Q. Are there any industry-sponsored merit scholarships at IIM Indore?

Ans. Yes, apart from several IIM Indore scholarships, the institute facilitates access to many industry-sponsored scholarships for PGP students. Industry-sponsored merit scholarships are; 

• A scholarship of Rs. 1,50,000/- is provided by the State Bank of India to eligible students based on merit.
• Eicher Motors offers a scholarship of Rs. 50,000/- on a merit basis every year. 

Q. What are the scholarships provided by central and state governments for IIM Indore students?

Ans. At IIM Indore, there are numerous scholarships available to students offered by both central and state governments, 

• Central Sector Scholarships for SC/ST Students
• Scholarship by the Department of Empowerment of Persons with Disabilities
• Scholarships offered by the Higher Education Department of the Madhya Pradesh Government
• Rajarshee Sahu Maharaj Scholarship by the Government of Maharashtra for SC students from Maharashtra

Q. Is there any scholarship for IIM Indore?

Ans. IIM Indore offers NBFA scholarships to its candidates. Any candidate whose family income is less than INR 9, 00,000 is eligible to apply for the NBFA scholarship at IIM Indore.

Q. How much can the IIM Indore scholarship cover?

Ans. IIM Indore scholarships are:

Family Income	Percentage Of Fee Covered
1,50,000	75% of Tution fee
1,50,000 - 2,00,000	50% of Tution fee
3,00,000 - 4,50,000	25% of Tution fee

Q. Can I get a full scholarship for IIM?

Ans. Prime Institutions Life IIM Indore, IIM Lucknow, IIM Banglore, etc. provide scholarships and other financial assistance from the Government. These IIM Indore scholarships are awarded on the basis of CAT scores, academic performances, and considering the economic factor of an applicant.

Q. Can I study at IIM Indore for free?

Ans. There are no fixed scholarship criteria for any student at IIM Indore. The various options to avail of financial assistance are made available after admission at IIM Indore. The fee structure however remains the same for all students, irrespective of caste category or gender.

Q. What is the highest package of IIM Indore ever?

Ans. The ground-breaking package offered at IIM Indore is recorded at INR 1.14 Cr.

Q. Which IIM has the lowest fees?

Ans. For second-generation IIMs like IIM Ranchi, Rohtak, Kasishpur, etc. the fee ranges between INR 15 to 20 lakh. For baby IIMs like IIM Bodhgaya, Nagpur, and Shillong the fee varies from INR 13 to 20 Lakh.

Q. Does IIM see 12th marks?

Ans. Some IIMs give importance to class 12th marks and some don’t. IIM Indore has allotted more weightage to class 10th and 12th marks than the CAT exam, while other IIMs do not follow the same policy.

Q. Do IIM graduates earn in crores?

Ans. An MBA graduate from IIM can be offered CTC up to INR 10 - 28 lakh on average. The highest CTC can go as high as INR 80 lakh or even 1 crore at the top six IIMs.