Union Bank of India- Product

Search

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 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 2020-21 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%

REPAYMENT TENURE
  • The maximum repayment tenure will be 15 years (excluding moratorium).
  • Moratorium of Course period + 1 year.
  • 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.

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

RATE OF INTEREST

Quantum of loan

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**

union

union