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The scheme extends a helping hand to meritorious students desirous of pursuing basic/ higher/ professional/ technical education either in India or abroad. The parents will become co borrowers with their dependant (student) if the latter applies for educational loan.
Studies in India : Maximum Rs. 7.50 Lac
Studies Abroad : Maximum Rs. 15 Lac
The loan will be repaid in 5-7 years after commencement of repayment. There will be moratorium for repayment during "the course period +1 year or 6 months after getting job, which ever is earlier".
1% interest concession may be provided, if the interest is serviced during moratorium period.
School education including plus 2 stage.
Graduation courses leading to degrees like B.A., B.Sc., B.Com. etc.
Post Graduate courses leading to Masters degrees as also Ph.D.
Professional courses in Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc.
Computer Certificate courses of reputed institutes accredited to Universities or DoE.
Courses like ICWA, CA, CFA, etc.
Eligibility
Applicant must have secured admission to professional/technical course through Entrance Test/Selection Process.
Secured admission to foreign University / Institution.
No maximum or minimum income is prescribed for parents/family.
More details available at www.ucobank.com
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| Author: Vidya 27 May 2008 | Member Level: Diamond Points : 2 |
useful article thanks
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| Author: Shinu 31 May 2008 | Member Level: Gold Points : 2 |
I was looking for information on loans. I have been interested in this and happy to read more about it.Thanks for the information
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