United Bank of India

In order to support your pursuit for excellence, United Bank of India's Educational Loan Scheme has been designed to meet the expenses for higher studies in India and abroad. Any one who is an Indian National and secured an admission to any of the following academic/ professional/ technical courses through Entrance Test/ Selection process in a Board/ Institution/ University.

Courses Eligible for Study in India:
Graduation Courses : B.A., B.Com, B.Sc., etc.
Post Graduation Courses : Masters and Ph.D.
Professional Courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc.
Computer Certificate Courses of reputed Institutes accredited to Dept. of Electronics or Institutes affiliated to University.
Courses like ICWA, CA, CFA, etc.
Courses conducted by IIM, IIT, IISC, XLRI, NIFT, etc.
Courses offered in India by reputed foreign Universities.
Evening Courses of approved Institutes.
Other Courses leading to Diploma/ Degree, etc. conducted by Colleges/ Universities approves by UGC/ Govt./ AICTE/ AIBMS/ ICMS, etc.

Courses Eligible for Study Abroad:
Graduation : For job-oriented professional/ technical courses offered by reputed Universities.
Post Graduation : MCA, MBA, MS, etc.
Courses conducted by CIMA - London, CPA in USA etc.

Quantum of Loan:
For study in India : Max. Rs. 10 lac
For study abroad : Max. Rs. 20 lac

Expenses covered by the Loan:
Fees payable to College/ School/ Hostel.
Examination/ Library/ Laboratory Fee.
Purchase of Books/ Equipments/ Instruments/ Uniforms.
Caution Deposit/ Building Fund/ Refundable Deposit supported by Institution Bills/ Receipts.
Travel Expenses/ Passage Money for studies abroad.
Purchase of Computers : Essential for completion of the Course.
Any other expenses required to complete the Course like study tours, project work, thesis, etc.

Rate of Interest:
Quantum of LoanRevised w.e.f01.07.2009
Upto 4.00 lacBPLR – 1.75% i.e.10.25% p.a.
Above Rs. 4.00 lacBPLR – 1.00% i.e.11.00% p.a.

Repayment of Loan:
The loan is to be repaid in 5 to 7 years after commencement of repayment. The repayment will commence after a moratorium/ repayment holiday which is Course period plus 2 years or 6 months after getting job whichever is earlier.

Life Insurance Coverage:
To ensure security to student's and borrower's life and against their loan liability and additional loan componant for payment of one-time premium for such insurance coverage my be sanctioned by bank on request from the customer.

The accrued interest during repayment holiday period is to be added to the principal and repayment in EMI fixed.

Security:
Upto Rs. 4.00 Lacs : Nil
Above Rs. 4.00 Lacs and upto Rs. 7.50 lakh: Collateral in the form of a suitable third party guarantee.
Above Rs. 7.50 lacs: Collateral of suitable value or suitable third party guarantee.

For processing fees, prepayment penalty, documentation charges, mortgage and other charges, please visit the bank website www.unitedbankofindia.com