My Profile
Active Members
TodayLast 7 Days
more...
Awards & Gifts
Online Exams
Fresher Jobs
Our fresher job section is exclusively for fresh graduates! Find jobs for freshers in major Indian
cities including Bangalore, Chennai, Hyderabad, Pune or Kochi
Resources
Find educational articles, blogs, discussion threads and other resources.
Colleges
Find details about any college in India or search for courses.
|
United Bank of India - Educational loan
Posted Date: 04 Dec 2007 Resource Type: Articles/Knowledge Sharing Category: Education
|
Posted By: Mala Member Level: Diamond
Rating:  Points: 5
|
|
|
Introduction:-
United Bank of India owes its origin to the United Bank of India Limited, which was formed in 1950 by the merger of four banks - Comilla Banking Corporation Ltd. (1914), Bengal Central Bank Ltd. (1918), Comilla Union Bank Ltd. (1922) and Hooghly Bank Ltd. (1932). The UBI was one of the 14 major banks that were nationalized in 1969. Presently the bank has 1333 branches, and about Rs.37,167 Crore deposit. There are 28 regional offices controlled by a head office located at Kolkata. UBI also has three full fledged overseas branches located at Kolkata, New Delhi and Mumbai. The bank has a collaboration with Western Union for facilitating transfer of foreign currency.United Bank provides the facility of education loans to students for pursuing higher studies within India or abroad. The details are given below.
Courses Eligible:-For studies in India, United Bank of India Student Loans are available for students seeking admissions to Graduation Courses, Post Graduation Courses, Ph.D., Professional Courses like Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc.,Courses conducted by IIM, IIT, IISC, XLRI, NIFT, etc., courses offered in India by reputed foreign Universities, Courses like ICWA, CA, CFA, etc., certificate courses on computer from reputed Institutes accredited to Dept. of Electronics or Institutes affiliated to University, Evening Courses of approved Institutes, other Courses leading to Diploma/ Degree, etc. conducted by Colleges/ Universities approves by UGC/ Govt./ AICTE/ AIBMS/ ICMS, etc.
For studies abroad, United Bank of India Study Loans are available for students seeking admissions for Graduation in job-oriented professional/ technical courses offered by reputed universities and Post Graduation in streams like MCA, MBA and MS etc. Besides, United Bank of India Student Loans are also available for courses conducted by CIMA-London, CPA - USA etc.
Eligibility:-
· Candidate must be an Indian National · Candidates must secure admission to any of the academic/ professional/ technical courses mentioned above through Entrance Test/ Selection process in a Board/ Institution/ University.
Expenses Considered for loan:-
· Examination/ Library/ Laboratory Fee. · Purchase of Books/ Equipments/ Instruments/ Uniforms. · Purchase of Computers : Essential for completion of the Course. · Travel Expenses/ Passage Money for studies abroad. · Caution Deposit/ Building Fund/ Refundable Deposit supported by Institution Bills/ Receipts. · Any other expenses required to complete the Course like study tours, project work, thesis, etc.
Loan Amount:-
· For study in India: A maximum of Rs.7.5 Lacs.
. For Studying Abroad: a Maximum of Rs. 15 Lacs.
Rate of Interest
Upto Rs. 4 Lacs – 12.50% p.a (BPLR – 0.75).
Above Rs. 4 Lacs – 13% p.a (BPLR- 0.25%).
During moratorium period the rate will be on simple basis, and after that it will be on a compound basis.
Concession & Penalty
If the interest is servidced during the study period the 1% concession is allowed.
A penal rate of 2% will be charged for loans above Rs.4 Lacs for overdue amount and overdue period.
Margin
For loans upto Rs. 4 Lacs there is no margin.
For loans above Rs.4 Lacs there is a margin of 5% for Inland studies and a margin of 15% for studies abroad.
Repayment Schemes
The total amount must be repaid within 5-7 years of commencement of repayment. The repayment UBI Student Loans has to start after a moratorium holiday, which is course period plus 1 year or 6 months after getting job, whichever is earlier.
For more details visit related link: www.unitedbankofindia.com/education-loan.asp
|
Responses
|
No responses found. Be the first to respond and make money from revenue sharing program.
|
|
Watch TV Channels
|