Union Bank of India Education Loan Rate

Tell me please about the interest rate of take education loan from Union Bank of India because I want to take education loan from this bank so want to know about its interest rate and tell me also the procedure of take education loan from this bank

[Pathak]

Union Bank of India provides the education loan for the technical, management and professional studies.

Eligibility:
Indian citizen , UG and PG courses in technical ,management ,professional studies.

Amount of loan:
Maximum of Rs. 10.00 lakhs

Base rate:
Current rate is 10.50% and BPRL is 15 %.

Margin:
Upto Rs. 4.00 lakhs-nill
Above Rs. 4.00 lakhs-5%

Hey I want to know about Union Bank of India Education Loan Rate so here can you please tell me its details ?

[sumit]

Hey as per your query I am giving you details :-


PURPOSE


Basic education

To pursue graduation / higher education

To pursue technical / professional / management courses


ELIGIBILITY

Indian citizen
Secured admission to the concerned institute in India or abroad through appropriate selection process and cleared the qualifying examination, if any
Courses covered in India

Graduation / post-graduation / diploma courses from recongnized universities
Technical / professional / management courses

Courses covered outside India

Graduation / post-graduation degrees offered by recongnized universities

Certified degree courses conducted by CIMA, London, CPA, USA and other such institutes

Diploma courses abroad are not covered


QUANTUM OF LOAN


For studies in India - maximum upto Rs. 10 Lakhs. The quantum of loan is higher for the institutes covered under Special Education Loan schemes

For studies outside India- maximum Up to Rs. 20 Lakhs


MARGIN, I.E. YOUR SHARE


For loans upto Rs. 4 Lakhs, no margin is required

For loans above Rs. 4 Lakhs, margin is 5% for studies in India and 15% for studies outside India

Scholarship / assistantship will be included in the margin


MORATORIUM PERIOD


The moratorium period is minimum of the following two.

Course period + 1 year

Course period + 6 months after commencement of job


Bench Prime Lending Rate [BPLR] 15.00%


Base Rate 10.50%.