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2nd December 2015, 02:20 PM
Super Moderator
 
Join Date: May 2012
Re: Education Loan United Bank of India

Hello, here I am providing you the details of the educational loan of the United Bank of India:

Expenses considered:

Cost of laptop/computer (if essential to complete the course), and the same should be hypothecated to UBI.
Fees towards library and laboratory
Money towards caution deposit, refundable deposit and building fund, if charged by the institute. All these have to be validated with bills issued by the institute.
Hostel fee
Purchase of book, equipment, uniforms and others.
Travel expenditures and passage expenses for overseas education.
Course fee/ tuition fee payable to the institute.
Expenses for study trips, projects and thesis

Courses considered:
Evening courses held by approved institutions.
Courses like CA, CFA, ICWA, etc.
Courses held by institutes like IIT, IIM, XLRI, NIFT, IISC, etc.
Other courses offering diplomas or degrees validated by UGC, Government, AICTE, AIBMS, ICMS, etc
Courses provided in India by renowned international universities.

Amount of loan:
For studies in India, the maximum loan amount that can be availed is Rs. 10 lakhs.
For studies abroad, the maximum loan amount that can be availed is Rs. 20 lakhs.

Interest rates:
Loan Amount Interest Rates
Up to Rs. 4 lakhs Base Rate + 2% = 12.00% (at present)
Above Rs. 4 lakhs to Rs. 7.50 lakhs Base Rate + 2.75% = 12.75% (at present)
Above Rs. 7.50 lakhs Base Rate + 2% = 12.00% (at present)


Loan Amount Repayment Tenure
Up to Rs. 7.5 lakhs Up to 10 years
Above Rs. 7.5 lakhs Up to 15 years
Less than Rs. 4 lakhs Up to 7 years (only if the
student’s income is sufficient to serve the EMIs)


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