UNITED Bank of India SUPERB EDUCATION LOAN SCHEME | Interest Rates
UNITED SUPERB EDUCATION LOAN SCHEME – Details on United Bank of India Superb Education Loan Schemes with Lowest Interest Rates, Eligibility and Documents.
If you are an Indian National and secured an admission to the following academic/ professional/ technical courses through Entrance Test/ Selection process in a Board/ Institution/ University, you are welcome to apply for loan under the scheme.
United Superb Education Loan Scheme (Floating rate)
Quantum of Loan | |
For List AAA Institutes | 8.00% |
For List A Institutes | 8.15% |
For List B Institues | 8.75% (for female student 8.50 % concession) |
Courses Eligible for Study in India: |
Professional Courses : Engineering, Medical, Management etc. as per Bank’s approved list |
Quantum of Loan | For study in India : Max. Rs. 20 lac |
Expenses covered by the Loan : |
Fees payable to College 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. |
Above Rs. 8.00 Lakh and upto Rs. 15.00 lakh: Collateral in the form of a suitable third party guarantee.
Above Rs. 15.00 lakh: Collateral of suitable value or suitable third party guarantee.
Assignment of future income of student for repayment of loan to be done in all cases.
The document should be executed by both the student and the parent/ guardian.
The security may be of mortgage of land/ building/ paper securities or unencumbered portion of already mortgaged land/ building on 2nd charge basis provided the value of the same covers the required loan amount or any other 3rd party with suitable margin on the value of paper securities.
In case the loan is given for purchase of Computer, the same is to be hypothecated to the Bank.
For further details contact your nearest branch.
For Interest paid during moratorium period only
subject to fulfillment of terms and conditions of the scheme
Source: United Bank of India Website