About Union Bank of India Education Loan
Here you will find Union Bank of India Education Loan Interest Rates, its Eligibility and Repayment Process.
To pursue graduation / higher education
To pursue technical / professional / management courses
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. Please check the Special Offers Tab above for further details.
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
The moratorium period is minimum of the following two.
Course period + 1 year
Course period + 6 months after commencement of job
Quantum of loan - Maximum repayment tenure (after the course & moratorium period)
Upto Rs 7.50 Lakh - 10 years
Above Rs 7.50 Lakh - 15 years
Click Here for more details.