United Bank Of India | Kalvimalar - News

United Bank Of India -

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Contact Number  : 044-2462378

Rules and Regulations

Courses Eligible for Study in India :

  • Graduation Courses : B.A., B.Com, B.Sc., etc.

  • Post Graduation Courses : Masters and 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.

  • Courses offered in India by reputed foreign Universities.

  • Evening Courses of approved Institutes.

  • Other Courses leading to Diploma/ Degree, etc. conducted by Colleges/ Universities approves by UGC/ Govt./ AICTE/ AIBMS/ ICMS, etc.

Courses Eligible for Study Abroad :

  • Graduation : For job-oriented professional/ technical courses offered by reputed Universities.

  • Post Graduation : MCA, MBA, MS, etc.

  • Courses conducted by CIMA - London, CPA in USA etc.

Quantum of Loan :

For study in India : Max. Rs. 10 lac
For study abroad : Max. Rs. 20 lac

Other Rules :

Expenses covered by the Loan :

Fees payable to College/ School/ Hostel.

Examination/ Library/ Laboratory Fee.

Purchase of Books/ Equipments/ Instruments/ Uniforms.

Caution Deposit/ Building Fund/ Refundable Deposit supported by Institution Bills/ Receipts.

Travel Expenses/ Passage Money for studies abroad.

Purchase of Computers : Essential for completion of the Course.

Any other expenses required to complete the Course like study tours, project work, thesis, etc.

Rate of Interest :

Quantum of Loan   Revised w.e.f 1.07.09
Upto 4.00 lac BPLR 1.75% i.e.10.25% p.a.
Above Rs. 4.00 lac  BPLR 1.00% i.e.11.00% p.a.
  • Concession in Interest rate:- 0.50% interest concession from card rate for Girl Students.
  • 1.00% concession in moratarium period, if interest is serviced during study period.

Repayment of Loan : The loan is to be repaid in 5 to 7 years after commencement of repayment. The repayment will commence after a moratorium/ repayment holiday which is Course period plus 1 year or 6 months after getting job whichever is earlier.

Life Insurance Coverage : To ensure security to student''''s and borrower''''s life and against their loan liability and additional loan componant for payment of one-time premium for such insurance coverage my be sanctioned by bank on request from the customer.

Note: The accrued interest during repayment holiday period is to be added to the principal and repayment in EMI fixed.

Security :

Upto Rs. 4.00 Lacs : Nil 

Above Rs. 4.00 Lacs and upto Rs. 7.50 lakh: Collateral in the form of a suitable third party guarantee. 
Above Rs. 7.50 lacs: Collateral of suitable value or suitable third party guarantee.


  1. Assignment of future income of student for repayment of loan to be done in all cases.

  2. The document should be executed by both the student and the parent/ guardian.

  3. The security may be of mortgage of land/ building/ paper securities or unencumbered portion of already mortgaged land/ building on 2nd charge basis provided the value of the same covers the required loan amount or any other 3rd party with suitable margin on the value of paper securities.

  4. In case the loan is given for purchase of Computer, the same is to be hypothecated to the Bank.

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