Education Bank Loan in India: City Union Bank
'The Kumbakonam Bank Limited' it was then called was incorporated as a limited company on 31st October, 1904. With effect from December 1987 bank's name was changed to 'City Union Bank Limited'. Educational loan in city union is represented as CUB-Vidyavani. City union bank purely aims in helping needy people and providing financial support to students for pursuing higher education in India and abroad. To know more about educational loan scheme of city union bank kindly browse through below page.
Eligible Criteria for City Union Bank Education Loan:
- Should have Indian Nationality.
- Must take secured admission to technical or professional courses through the entrance exam or any merit based selection process and have proof.
- Take secured admission to foreign institutes or universities and have proof.
- No specific age restriction with regard to age of the student to be eligible for educational loan
Courses Eligible for Getting Education Loan:
Eligible Courses to Study in India:
- 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. In case the course is perused abroad, the institute should be recognized by the competent local aviation/shipping authority
- 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
Eligible Courses of Studies abroad:
- 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
Details of Education Loan:
Exposure of expenses:
- Fees payable to school, college and hostel
- Library, examination and laboratory fees
- Fees required for purchasing equipments, books and instruments.
- For payment of Caution Deposits/Building; Funds/Refundable Deposits supported by Institution; Bills/Receipts.
- Passage money or travel expenses for those Education in abroad.
- Purchase of materials which are useful for completion of the course.
- Other expenses required for completion of course such as study tours, thesis, project work, etc.
- The maximum amount is Rs. 10.00 lakhs for the Education in the India.
- The maximum amount is Rs. 20.00 lakhs for the Education Abroad.
- Upto 4 lakhs – Nil
- Above Rs. 4.00 lakhs – Studies in India - 5 % and Studies abroad – 15 %
- Scholarship is also added in the Margin.
- Margin may be brought in on a year to year basis as and when disbursements are made on a pro-rata basis.
Capabilities Certificate can also issued by the bank for students studying abroad and also obtain relevant documents from applicant.
To know More details on RATE OF INTEREST,TERM, SECURITY etc, kindly visit nearest branch of Bank of Baroda or browse through www.cityunionbank.com for detailed information.
Details & Contact:
T.S.R Big Street,
Phone - (0435) 2432322, 2431622
Fax - (0435) 2431746
Website - www.cityunionbank.com
Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.