|
|
| COMPARE : EDUCATION LOANS |
|
|
|
|
| Union Bank of India Education Loan |
|
|
| Introduction |
|
| Union Bank of India provides education loan for studies whether in India or abroad for graduation, post graduation, for job oriented courses and technical courses. Bank provides loan to needy and poor students so that they can undertake higher professional/ technical education. |
|
|
|
|
| Highlights |
|
| |
Study Abroad |
Study India |
| Course |
Graduation |
Graduation |
| Loan Type |
Term Loan |
Term Loan |
| Loan Purpose |
loan provided for
Graduation / post-graduation degrees offered by recongnized universities
Certified degree courses conducted by CIMA, London, CPA, USA and other such institutes
Diploma courses are not covered under Union Education |
|
| Loan Amount |
repayment
Upto 7.50 Lakh 10 years
Above 7.50 Lakh 15 years
|
Min. - Rs 50000
Max. - Rs 1000000
|
| Margin Money |
No margin for loans up to Rs. 4.00 lacs .
For loan of higher amounts, the margin requirement is 15%.
|
No margin for loans up to Rs. 4.00 lacs
Loan of higher amounts, the margin requirement is 5%.
|
| Tenure |
Min. - 1 Yrs.
Max. - 10 Yrs.
|
Min. - 1 Yrs.
Max. - 7 Yrs.
|
| Interest Rate |
Upto 4.00 lac - 12.25% p.a.
Above Rs. 4.00 lac to Rs. 7.50 lac - 13.00% p.a.
Above Rs 7.50 Lac - 12.25% p.a.
0.50% concession for females
|
Upto 4.00 lac - 12.25% p.a.
Above Rs. 4.00 lac to Rs. 7.50 lac - 13.00% p.a.
Above Rs 7.50 Lac - 12.25% p.a.
0.50% concession for females
|
| Time to Process Loan |
7 days |
7 days |
|
|
 Fees & charges
Fees & charges
|
|
|
|
|
|
Security
|
Security |
|
|
Upto Rs. 4 Lakhs : NIL
Rs. 4 - 7.5 Lakhs : No collateral security required Third party guarantee is needed.
Above Rs. 7.5 Lakhs : Collateral security of suitable value is required. |
|
|
|
Terms & Conditions
|
Terms & Conditions |
|
|
Life insurance of the borrower is compulsory to the tune of the loan amount.
The loan shall be sanctioned / disbursed from the branch nearest to the place of domicile of the student.
Loan would be disbursed directly to the institute. |
|
|
|
|
|
|
Show All Education Loans
|
|
|
|
|
|
Twitter