CA students to get loans from SBI

Kolkata-based computerised accounts training institute, the Institute of Computer Accountants has tied up with the State Bank of India to provide loans for its flagship courses 'industrial accountant and industrial accountant'.

Currently, SBI will extend a loan up to Rs 45,000 to students enrolling at ICA for their flagship course. Later, depending on the response, SBI might extend this facility for students of ICA across the country, said Sumit Ghosh, assistant general manager (personal banking), SBI, Kolkata.

Students shall be able to repay back the loan within a short period of time, hoped Ghosh. Students would have to pay an interest charge in the tune of 12-12.75 per cent depending on the duration and amount of the loan, he added. The loan shall be extended over a period of 1-3 years.

SBI has several tie-ups with other major educational institutes including the Indian Institute of Management, where students occasionally receive additional benefits.

"Currently we are not providing ICA students with lower interest rate as compared to usual personal loans. We might think of some benefit, if demand is reasonably high in future," he added.

SBI is expecting to provide the loan to around 1,000 students at the present moment, noted Ghosh.

ICA is currently spread through 230 centres over all states barring Kerala, informed N K Shyamsukha, chairman, ICA.

More than 30,000 students are enrolled with ICA, with around 6,000 students from West Bengal, he added.

"After expanding over the northern state, we have started expanding our base in the south. We are already present in major metropolitans like Hyderabad and Chennai, and will be entering Kerala very shortly," Shyamsukha said. ICA has set up 13 placement office to help students get job.

"We have 13 placement offices who have been successful in finding jobs for students within two weeks. We have been issuing 'any time job' card, using which any ICA student get access to these office," he noted.