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ELIGIBILITY
The student applying for UNION EDUCATION Loan ought to:
Be an Indian National
Has secured admission to professional or technical courses through an appropriate Entrance Test or selection process
Has secured admission to a foreign University
Has passed an appropriate qualifying examination
Studies in India
School education up to +2
Graduation/Post-Graduation
Professional course
Management course
Studies Abroad :
Graduation: For job-oriented professional or technical courses offered by reputed universities
Post-Graduation: MCA, MBA, MS and such other courses
Courses conducted by CIMA, London, CPA, USA., and such other institution
Conditions
The Parent/Guardian of the student who is availing loan from our bank shall be made co-obligator/joint borrower irrespective of the age of such students.
The Loan Accounts of students applying through college/institutions will be sanctioned/disbursed at the branch nearest to permanent residence/place of domicile of the borrower student.
Loan will be disbursed directly to the college /institute.
Student to produce mark list of previous term/semester before availing next installment.
Student/parent to provide latest mailing address before availing next installment.
In case of parents with transferable job, new address to be provided before availing installments.
Repayment
Repayment holiday or Moratorium on loan: Course period + 1 year OR 6 months after job placement, whichever is earlier.
Starting from this point, the loan is to be repaid in 5-7 years after completion of course period/moratorium.
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