#1
April 6th, 2017, 05:42 PM
| |||
| |||
Union Bank of India Scholar Loan
What is margin of Scholar Loan offering by Union Bank of India? If you know about interest rate for Scholar Loan of Union Bank of India, so provide interest rate as soon as possible.
|
#2
April 7th, 2017, 10:01 AM
| |||
| |||
Re: Union Bank of India Scholar Loan
The Scholar Loan of Union Bank of India is known as Education Loan. This Loan is known as Union Education. Here I am giving complete information related to this loan for your reference: UNION BANK OF INDIA EDUCATION LOAN PURPOSE Basic education To pursue graduation / higher education To pursue technical / professional / management courses ELIGIBILITY For Indian Citizen Secured admission to the concerned institute in India or abroad through appropriate selection process and cleared the qualifying examination, if any Courses covered in India Graduation / post-graduation / diploma courses from recongnized universities Technical / professional / management courses PhD courses For Outside India Graduation / post-graduation degrees offered by recongnized universities Certified degree courses conducted by CIMA, London, CPA, USA and other such institutes PhD courses Diploma courses abroad are not covered QUANTUM OF LOAN For studies in India - maximum upto Rs. 10 Lakhs. For studies outside India- maximum Up to Rs. 20 Lakhs MARGIN For loans upto Rs. 4 Lakhs, no margin is required For loans above Rs. 4 Lakhs, margin is 5% for studies in India and 15% for studies outside India Scholarship / assistantship will be included in the margin MORATORIUM PERIOD Course period + 1 year REPAYMENT 15 years irrespective of the loan amount PROCESSING CHARGES No Processing Charges. SECURITY Quantum of Loan Security Upto Rs 4 Lakh No security is required. Above Rs 4 Lakh & Suitable third party guarantee acceptable to the bank to be upto Rs 7.50 Lakh taken. Above Rs 7.50 Lakh Tangible collateral security of minimum value equivalent to the loan amount and interest accumulation during course & moratorium period, acceptable to the bank. INTEREST RATE Quantum of loan Rate of Interest For Male Student For Girl Student Up to ` 7.50 Lakh (1Y-MCLR + 2.00) % = 10.50% (1Y-MCLR + 2.00) % = 10.50% Above ` 7.50 Lakh (1Y-MCLR + 2.15) % = 10.65% (1Y-MCLR + 1.65) % = 10.15% |
|