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UNION
BANK OF INDIA
| Eligibility : |
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Student
- Be an Indian National
- Has secured admission to professional or
technical courses through an appropriate Entrance
Test or selection process
- Has secured admission to a foreign University
- Has passed an appropriate qualifying examination
Courses
a) Studies in India
- School education up to +2
- Graduation/Post-Graduation
- Professional course
- Management course
- Special Education Loan Scheme for Students
pursuing courses from approved institutions
like IITs/ IIMs/ NIT / XLRI/ BITS/ VIT/ IISc/
S.P. Jain Institute Of Management/ Symbiosis
Institute Of Management and T.S. Chanakya, Navi
Mumbai- Nautical Science and MERI, Calcutta,
Marine Engineering, MERI, Mumbai, Maritime Science.
a) Studies abroad
- Graduation: For job-oriented professional
or technical courses offered by reputed universities
- Post-Graduation: MCA, MBA, MS and such other
courses
- Courses conducted by CIMA, London, CPA, USA.,
and such other institution
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Loan Details
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Coverage of Expenses
- Hostel/Boarding Fees including caution deposit/building
fund etc.
- Books, Stationery & Equipment required
for the course, including Computers.
- Examination/Library/Laboratory fees.
- Travel Expenses/Passage for studies abroad.
Quantum
- Studies in India : Up to Rs. 10 lacs
- Studies Abroad : Up to Rs. 20 lacs
Margin
- Upto Rs. 4 Lac - Nil
- For loans above Rs. 4 lacs
- Studies in India - 5%
- Studies abroad - 15%
Service Charge : There is no
processing fee /upfront /service charge
Scholarship/assistance to be
included in margin.
Security
- Loans up to Rs. 7.50 lacs - No collateral
security is needed
- For loans above Rs. 7.50 lacs - collateral
security of suitable value, along with co-obligation
of parents/ guardian/ third party, accompanied
by an assignment of future income of the student
for payment of installments is required.
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| Rate of Interest |
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For Male Student :
- For loans up to Rs. 4.00 lakhs - 11.75% (Fixed)
- For loans above Rs. 4.00 lakhs upto Rs.7.50
lakhs - 12.50% (Fixed)
- For loans Above Rs. 7.50 lakhs - 12.00% (Fixed)
For Female Student :
- For loans up to Rs. 4.00 lakhs - 11.25% (Fixed)
- For loans above Rs. 4.00 lakhs upto Rs.7.50
lakhs - 12.00% (Fixed)
- For loans Above Rs. 7.50 lakhs - 11.50% (Fixed)
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| Repayment |
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Course period
+ 1 year OR 6 months after job placement, whichever
is earlier.
Starting from this point, the
loan is to be repaid in 5-7 years after completion
of course period/moratorium. |
| Contact
Details
Head Office
Union Bank of India,
239 Vidhan Bhavan Marg, Central Office,
Nariman Point, Mumbai -21
Phone : 022-22892000
Website : visit
Union Bank of India Regional
Offices
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