Education and Career Forum

I am interested to study MBA in IIM. For this, I am preparing CAT so that I can secure excellent percentile and secure admission in IIM. But my problem is, I wouldn’t able to bear the expenses. For this I want to apply an education loan and I have heard about the Special Education Loan scheme which is provided by Union Bank of India. Can you please provide me the details of this loan scheme?

The minimum loan available is 7.50 lacs and maximum amount of loan available is 150 lacs

Any scholarship received by the student is to be treated as a margin and borrower has to deposit the scholarship amount in the bank account.

The candidate applying for loan must be an Indian National
Must have got confirmed admission in a reputed college.
The admission must be on the basis of merit or entrance.

Repayment period
15 years
If collateral is offered for loan below 40 lakh , interest concession is available.

Premium of insurance can be included in loan amount if requested by student.

Loan is to be disbursed directly to the institution.