Why For/Purpose /Objective:
United Bank of India Educational Loan Scheme has been designed to meet your expenses for higher studies in India and abroad.
Course Eligibility:
tudies in India:
- Graduation Courses : B.A., B.Com, B.Sc., etc.
- 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 approves by UGC/ Govt./ AICTE/ AIBMS/ ICMS, etc.
Studies 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.
Quantum/ Amount of Loan
- Studies in India - Maximum Rs.10.00 lacs
- Studies abroad - Maximum Rs.20.00 lacs
Expenses Considered for Loan:
- Fee payable to College / School /Hostel
- Examination / Library / Laboratory fee.
- Purchase of books / equipments / instruments / uniforms.
- Caution deposit/building fund/refundable deposit supported by institution bills/receipts.
- Travel expenses/passage money for studies abroad.
- Purchase of computers-essential for the completion of the course.
Any other expense required to complete the course- like study tours, project work, Thesis etc.
Rate of Interest :
United Educational Loan Scheme: (Floating Rate)
Quantum of Loan |
Revised w.e.f 01.07.2009 |
Upto 4.00 lac |
BPLR – 1.75% i.e.10.25% p.a. |
Above Rs. 4.00 lac |
BPLR – 1.00% i.e.11.00% p.a. |
- Concession in Interest rate:- 0.50% interest concession from card rate for Girl Students.
- 1.00% concession in moratarium period, if interest is serviced during study period.
United Excel Education Loan Scheme: (Floating Rate)
Quantum of Loan |
Revised w.e.f 01.07.2009 |
Upto 4.00 lac |
BPLR – 3.50% i.e.8.50% p.a. |
Above Rs. 4.00 lac |
BPLR – 3.00% i.e.9.00% p.a. |
United Education Loan Scheme for Commercial Pilot: (Floating Rate)
Security |
Revised w.e.f 01.07.2009 |
Land & Building |
BPLR – 0.50% i.e. 11.50% p.a. |
Financial Security |
BPLR – 1.50% i.e. 10.50% p.a. |
Repayment/ Tenures:
The loan is to be repaid in 5 to 7 years after commencement of repayment. The repayment will commence after a moratorium/ repayment holiday which is Course period plus 1 year or 6 months after getting job whichever is earlier.
Security:
- Upto Rs. 4.00 Lacs : Nil
- Above Rs. 4.00 Lacs and upto Rs. 7.50 lakh: Collateral in the form of a suitable third party guarantee.
- Above Rs. 7.50 lacs: Collateral of suitable value or suitable third party guarantee.
Life Insurance Coverage:
To ensure security to student's and borrower's life and against their loan liability and additional loan componant for payment of one-time premium for such insurance coverage my be sanctioned by bank on request from the customer.
Note:
The accrued interest during repayment holiday period is to be added to the principal and repayment in EMI fixed.
Contact
Delhi Tel: 011- 23360990, 23363416,
Bangalore Tel: 080- 22354339,
Chennai Tel: 040- 28592121,
Hyderabad Tel: 040- 24755486, 24756994,
Kolkata Tel: 033- 22152156, 22150158,
Mumbai Tel: 022- 22043793.
Website
http://www.unitedbankofindia.com/
