THE UDAIPUR URBAN CO-OPERATIVE BANK LTD.
 
Regd. Office: 9C-A, Madhuban, First Floor, 313004 Udaipur, Rajasthan
 
Registration NO.: 03/08/1972 No. 1557 Y RBI LIC. NO.: 04/01/1975 No. 52 P
 
    Education Loan
Purpose
For pursuing higher studies, in India & Abroad
 
Who are eligible
Student should be an Indian National having secured admission to Professional / Technical courses through entrance test / selection process. Age: 16-35 years. The Father / Guardian shall be the Principal Borrower and Major Student shall be the Co-borrower. Minor student shall become co-borrower on attaining maturity.
   
Nature of Facility
Term Loan
   
Calculation of Eligible Loan Amount
For payment of Tution fees, Hostel fees, caution deposit, refundable deposit, admission, examination, library, laboratory, cost of books, equipments, uniforms, computer, if necessary. One-way air passage in case of studies abroad. Reimbursement of admission fees, cost of books, airfare etc., if already incurred, within 2 month for studies in India and 3 months for abroad.
   
Maximum loan amount
Rs.10 Lac for studies in India.
Rs.20 Lac for studies Abroad.
   
Margin
Loan Amount up to Rs.4 Lac:- NIL
Loan amount above Rs.4 Lac - In India :- 5%
Loan amount above Rs.4 Lac - In Abroad :- 15%
   
Disbursement
Payment directly to college / hostel / mess / airlines etc. In appropriate cases disbursement to be made to borrowers subject to satisfactory evidence. Original receipts to be submitted.
Security
Up to Rs.5 Lac:
  1. Third Party Guarantee to the satisfaction of the Bank
2. Co-obligation of parents/ guardians
3. Assignment of future income of the student for payment of installments
Above Rs.5 Lac:
  1. Collateral security of suitable value to the satisfaction of the Bank
2. Third party Guarantee to the satisfaction of the Bank
3. Co-obligation of parents/ guardians
4. Assignment of future income of the student for payment of installments
Repayment
Repayment to commence 12 months after completion of course / studies or 6 months after securing job, whichever is earlier. Maximum period of repayment of loan shall be 5 to 10 years. Repayment on EMI basis
   
Important Note:-
Assignment of LIC Policy of Loan amount in the name of the student in all loan accounts.
Personal Loan
Housing Loan
Business Loans
Vehicle Loan
Mortgage Loan
Education Loan
C.C / Hypo Loan
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