Education Loan in United bank of India

United bank of India

Education loan amount size

Education loan amount of upto Rs.7,50,000 will be provided for the students who study in India.

Maximum amount of Rs.15,00,000 is provided for the students studying in abroad.

Advance amount to be paid:

Nothing till 4,00,000 Rs.

More than 4,00,000 Rs – 5% of the students are studying in india and 15% of the students are studying in abroad.

Interest rate:

Upto Rs.4,00,000 : BR + 2.00% i.e 12.60% p.a.

More than 4,00,000 Rs: BR + 2.75% i.e 13.35% p.a.

0.50% a special concession will be provided for girls

The way of repaying the loan:

One year after finishing the studies or right from 6^th month after joining the job the student should start repaying the job.The loan amount is to be closed within 5 to 7 years.

Warranty:

Till 4,00,000 Rs. No guarantee required.

From Rs.4,00,000 till Rs.7,50,000 : Third person’s gurantee is required

More than 7,50,000 Rs. Property guarantor , The agreement of repaying the loan by the parents , student or the third party.