| "PUPGB UDAAN"- Education Loan Scheme For Students Pursuing Higher Education Abroad |
| Objective |
| To provide financial support to meritorious students for pursuing higher education abroad. |
| Students Who Secure Admission In COURSES As Under |
| 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. |
| Courses as defined under various Government Subsidy Schemes |
| Degree/Diploma courses like aeronautical, pilot training, shipping etc. provided these are recognized by competent regulatory bodies in abroad for the purpose of employment in abroad. |
| Education loan to students for pursuing Diploma & Certificate courses other than aeronautical, pilot training, shipping etc from abroad, may be considered, where the loan is backed by liquid security valuing 125% of loan amount in the shape of FDRs/ NSCs/ surrender value of Life Insurance Policies along with establishing the financial credentials of family members (either joint borrower or guarantor) subject to the condition that the said course(s) is recognized/ accredited one. |
|
| Purpose |
| Fee payable to college/ school/ hostel. |
| Examination/ Library/ Laboratory fee. |
| Travel expenses/ passage money for studies abroad. |
| Life Insurance premium for student borrower, if applicable. |
| Caution deposit, Building fund/refundable deposit supported by Institution bills/ receipts. |
| Purchase of books/ equipments/ instruments/ uniforms. |
| Purchase of computer at reasonable cost, if required for completion of the course. |
| Any other expense required to complete the course - like study tours, project work, thesis, etc. |
|
| Eligibility |
| Should be a resident Indian. |
| Should have secured admission to a higher education course in recognized institutions Abroad through Entrance Test/ Merit Based Selection process after completion of HSC(10 plus 2 or Equivalent). |
|
| Quantum Of Finance |
| Need based Finance subject to margin as per guidelines. |
| Reimbursement of fees paid within six months may be considered on individual merits of the case. |
|
| Margin |
| Up to Rs. 4 lac - NIL |
| Above Rs. 4 lac - 15% |
| Scholarship/ assistantship be included in margin. |
| Margin may be brought-in on year-to-year basis as and when disbursements are made on a pro-rata basis. |
|
| Security |
| Upto Rs. 7.50 lacs: Parent(s)/guardian be made joint borrower (s). No tangible Security and /or 3rd party guarantee is required. |
| Above Rs.7.50 lacs: Parent(s)/guardian be joint borrower(s).Tangible collateral security of suitable value acceptable to bank. |
|
| Repayment (Maximum) |
maximum upto 15 years |
| Repayment Holiday/ Moratorium |
Course period + 1 year |
| Prepayment Charges |
NIL |
| Rate of Interest |
Click Here |
| Processing Charges/ Upfront fee |
Click Here |
| Documentation Charges |
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