Education and Career Forum

I have searched alot and got information about the education loan of Union Bank of India. I want to take an Education Loan for studying Abroad. But in Union Bank of India Education Loan Scheme, I didn’t understand about the moratorium period. Can anyone of you let me know about this term under this education loan scheme?

The moratorium period allowed with education loan from Union Bank of India for abroad studies is for the duration of the course period plus 1 year or 6 months after getting a job, whichever will be earlier. To be eligible to get education loan from Union Bank of India, you must be a citizen of India and have a secured admission to higher education course in India or abroad through entrance test/ merit based selection process after completion of 10+2 or equivalent.

Moratorium Period of Union Bank of India Education Loan Scheme for Abroad studies is Course Period plus one year.

The maximum repayment tenure is 15 years after completion of the course/ moratorium period irrespective of the loan amount.