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Home You are here : path  Products path Personal path Union Bank of India Education Loans

EDUCATION LOAN – STUDY IN INDIA/ABROAD/NRI STUDENTS  SPECIAL SCHEME FOR PGPM & EXECUTIVE COURSES AT ISB

Features

ELIGIBILITY

  • Students who secure admission in Indian School of Business at Hyderabad/Mohali & Mumbai for Post Graduate Programme
  •  in Management (PGPM), Post Graduate Programme in Management for Working Professionals (PGP-PRO) and Post Graduate
  •  Programme in Management for Senior Executives (PGP-MAX) for the academic year 2021-22 only:

 

Note: The scheme does not cover any other executive courses / short duration course/programmes at the above institutes.

CO-APPLICANT

PGPM

PGP-PRO & PGP-MAX

No co-applicant/Guarantor required

Parent of spouse of the applicant to stand as co-applicant/guarantor

QUANTUM

  • Maximum quantum of loan is as under:

 

PGPM

PGP-PRO

PGP-MAX

Rs.42.74  Lacs
(inclusive of student exchange programme)

Rs.31.00 Lacs

Rs.41.00 Lacs

EXPENSES CONSIDERED

  • Tuition fees, cost of books, caution deposit, hostel charges, mess charges, equipment such as desktop/laptop, living expenses,
  • insurance premium, expense for student exchange programme (PGPM only), admission acceptance fee etc.

Note:

  • Student to deposit the caution deposit money in the loan account immediately on refund from the institute. An undertaking to
  • be obtained from the student in this respect. Laptop/desktop cost can be reimbursed to the student if it is purchased for the
  • purpose of study at these institutes.

SPECIAL FEATURES

  • Reimbursement of admission acceptance fee (AAF) and term fee if paid by the student from the own sources.
  • The student-exchange programme expenses viz. tuition fee payable at the institute abroad along with lodging & boarding
  • expenses, travel expenses for passage abroad and living expenses included (PGPM only).

Note: All the above facilities are permitted within maximum proposed limit for the respective course

 

MARGIN I.E. YOUR SHARE


PGPM

PGP-PRO & PGP-MAX

Nil

15%

  • Scholarship / assistance to be included in margin

Margin may be brought-in on year-to-year basis as and when disbursements are made on a pro-rata basis

REPAYMENT TENURE

  • The maximum repayment tenure will be 15 years (excluding moratorium).
  • The accrued interest during the moratorium period (if not serviced) will be added to the principal amount while calculating
  • Equated Monthly Installments (EMI) for repayment.
  • Moratorium
  • PGPM- Course Period + 1 year
  • PGP-PRO & PGP-MAX- Course Period

Note: Repayment should end up to the age of 60 years for PGP-PRO & PGP-MAX courses.

QUANTUM OF LOAN

AMOUNT

Margin

Up to Rs.4 Lakh

Nil

 

     Above Rs.4 Lakh

Studies in India

5%

Studies abroad

15%

NRI students (irrespective of loan amount)

15%

  • Scholarship / assistance to be included in margin
  • Margin may be brought-in on year-to-year basis as and when disbursements are made on a pro-rata basis

RATE OF INTEREST

PGPM

PGP-PRO & PGP-MAX

EBLR

EBLR+0.20

  • EBLR prevailing on the date of disbursement (whether partial or full) shall be applicable

SECURITY

  • Nil

PROCESSNG FEES

  • Nil

INSURANCE

  • Life insurance of the student is mandatory to the tune of the loan amount.

OTHER CONDITIONS

  • Loan would be disbursed directly to the institute.

**Conditions apply.
**Contact our nearest branch for further details**