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| COMPARE : EDUCATION LOANS |
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| City Union Bank Ltd. Education Loan |
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| Introduction |
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| City Union Bank provides financial support to deserving/meritorious students for pursuing higher education in India and abroad under the scheme CUB vidyavani. The Scheme also aims to provide financial assistance to the needy poor to undertake basic education. |
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| Highlights |
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Study Abroad |
Study India |
| Course |
Graduation |
Graduation |
| Loan Type |
Term Loan |
Term Loan |
| Loan Purpose |
The loan is provided for
Graduation : For job oriented professional / technical courses offered by reputed universities
Post-Graduation - MCA, MBA, MS, PhD etc.
Courses conducted by CIMA-London, CPA in USA etc |
The loan is provided for
Graduation courses – B.Sc, B.A, B.Com etc
post graduation courses- Masters & Ph.D
Professional courses – Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer etc
Computer certificate courses of reputed institutes accredited to Dept. of electronics or Institutes affiliated to University
Courses like ICWA, CA, CFA etc
courses conducted by IIM, IIT, IISc, XLRI, NIFT etc
Regular degree/diploma courses like aeronautical, pilot training, shipping etc approved by Director general of Civil Aviation / shipping, if the course is pursed in India.
courses offered in India by reputed foreign universities
evening courses of approved institutes
Other courses leading to diploma / degree etc., conducted by colleges / universities approved by UGC / Govt. / AICTE / AIBMS / ICMR etc |
| Loan Amount |
Min. - Rs 50000
Max. - Rs 2000000
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Max. - Rs 1000000
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| Margin Money |
Upto 4 lakhs – Nil
Above Rs. 4.00 lakhs is 15 %
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Upto 4 lakhs – Nil
Above Rs. 4.00 lakhs is 5%
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| Tenure |
Min. - 5 Yrs.
Max. - 7 Yrs.
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Min. - 5 Yrs.
Max. - 7 Yrs.
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| Interest Rate |
Upto Rs.4.00 lakhs:
For Boys - 14.75%
For Girls - 14.25%
Above Rs.4.00 lakhs
For Boys - 15.75%
For Girls - 15.25%
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Upto Rs.4.00 lakhs:
For Boys - 14.75%
For Girls - 14.25%
Above Rs.4.00 lakhs
For Boys - 15.75%
For Girls - 15.25%
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 Fees & charges
Fees & charges
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Study Abroad |
Study India |
| Processing Fee |
0.2 % |
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| Comment on Charges |
For studies abroad, processing fee @ 0.20% is collected |
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Security
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Security |
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Up to Rs 4.00 lakhs : Parents / Guardian should join the execution of documents.
Security need not be insisted upon Above 4.00 lakhs and upto Rs 7.50 lakhs ,
Above Rs.4.00 lakhs and Upto Rs.7.50 lakhs:
1. Co-obligation of parents / guardian together with collateral security in the form of suitable third party guarantee. If we are satisfied about the net worth of the parents/means of parents /guardian, we may waive the condition of obtaining third party guarantee
2. However if the party offers security of immovable property and or guarantee from third party on a voluntary basis, it may be accepted for the loans upto Rs.7.50 lakhs.
Above Rs.7.50 lakhs
1. Third party guarantee and immovable security equal to 100% of the loan amount.
2. Assignment of future income of the student for payment of instalments
. The document should be executed by both the student / and the parent / guardian.
4. The security can be in the form of land / building / Govt. securities / Public Sector Bonds / NSCs / KVPs / LIC Policies, Gold, shares / MF units / debentures, bank deposits in the name of the student/parent/guardian or any other third party. If land/bldg is already mortgaged, the unencumbered portion can be taken as security on second charge basis, provided it covers the loan amount. In case of married person, coobligator can be either spouse or parent/parent-in-law. |
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Terms & Conditions
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Terms & Conditions |
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Holiday Period: Course period + 1 year (or) 6 months after getting job whichever is earlier. |
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