United Bank of India Education Loan- Student Loan in India
United Bank of India Education Loan
Courses Eligible for Study in India:
- Post Graduation Courses : Masters and Ph.D.
- Professional Courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc.
- Computer Certificate Courses of reputed Institutes accredited to Dept. of Electronics or Institutes affiliated to University
- Courses like ICWA, CA, CFA, etc.
- Courses conducted by IIM, IIT, IISC, XLRI, NIFT, etc.
- Courses offered in India by reputed foreign Universities
- Evening Courses of approved Institutes
- Other Courses leading to Diploma/ Degree, etc. conducted by Colleges/ Universities approved by UGC/ Govt./ AICTE/ AIBMS/ ICMS etc.
Courses Eligible for Study Abroad:
- Graduation : For job-oriented professional/ technical courses offered by reputed Universities.
- Post Graduation : MCA, MBA, MS etc.
- Courses conducted by CIMA - London, CPA in USA etc.
The student of Indian national to pursue admission to a professional/technical course through entrance test / merit based selection process either inland or abroad.
Courses conducted by reputed Indian/foreign institutions
Quantum of Loan:
- For study in India : Max. Rs. 10 Lac
- For study abroad : Max. Rs. 20 Lac
1.00% interest concession is allowed during moratorium period only, if the interest is serviced monthly & regularly during the moratorium period Margin
For loan upto Rs. 4.00 Lac - Nil
For loan above Rs. 4.00 Lac
For study in India - 5%
For study abroad - 15%
Repayment of Loan: 15 Years
- Upto Rs. 7.50 Lac: Co-obligation of parents without any collateral security and third party guarantee.
- Above Rs. 7.50 Lac: Co-obligation of parents together with tangible collateral security of adequate value to cover the loan amount along with the assignment of future income of student for payment of installments.