City Union Bank Education Loan:

CUB Vidyavani is a form of City Union Bank Education Loan which is not only a means of helping out students with merit for taking up further education but also a help for needy and underprivileged people. City Union Bank provides help in the form of financial help to study in India or any country abroad. City Union Bank Education Loan is a great way of studying abroad when one has not been able to qualify for a full time scholarship program. It has been observed that students specially pursuing technical education have applied more and more for these loans.

City Union Bank Education Loan Interest Rate :

The City Union Bank Education Loan interest rate is competitive and attractive for the students applying to study in India and abroad.

City Union Bank Education Loan rate for loan up to Rs. 4 lacs is 13.75%

City Union Bank Education Loan interest rate for loan above Rs. 4 lacs is 14.50%

City Union Bank Education Loan rate for girl student has a concession of 0.50%.

City Union Bank Education Loan interest rate has a penal interest rate of 2% for studies abroad.

City Union Bank Education Loan Eligibility And Expenses Covered:

For City Union Bank Education Loan can be taken for the following purposes and courses. If one wants to study in India one can go for graduation, post graduation and technical courses. Courses which are conducted or hosted by eminent institutes like ICWAI, CA, IIM and IIT or courses offered by UGC held program qualify for City Union Bank Education Loan eligibility.

City Union Bank Education Loan can also be taken if one wants to study abroad for graduation, job oriented professional or technical courses, post graduation and courses conducted by CIMA-London and CPA in USA etc.

The eligibility process has a process of margin money if the loan is taken for more than 4 lacs.

Studies In India 5%

Studies Abroad 15%

Other Major Qualifications For City Union Bank Education Loan Eligibility Are:

1To qualify for City Union Bank Education Loan eligibility the candidate should be an Indian national.

2Admission to technical kind of courses in India is possible through City Union Bank Education Loan eligibility.

3For admission abroad the student should have qualified in the merit selection process of the university.

4The maximum loan for studies in India is at the maximum is Rs.10 lacs

5The maximum loan for studies abroad is at the maximum is Rs. 20 lacs.

The expenses covered by the City Union Bank Education Loan rate is

1College Fee

2 Hostel charges

3 Library charges

4 Caution deposit

5 Money to go abroad

6 Money to purchase a computer

7 Money for Study tours, Project work etc.

8 Insurance premium

City Union Bank Education Loan Review And Documentation:

According to the City Union Bank Education Loan review the student would need to provide the following documents for the processing of the loan.

1Fully completed loan application form

2Two Photographs

3Mark sheet for the exam one has qualified for

City Union Bank Education Loan review and documentation for the salaried co- borrower

1Bank Statement

2Income Tax Statement for the last two years

3A brief about the asset and liabilities possessed by the borrower

4Salary slip

City Union Bank Education Loan review and documentation for the self employed individual

1Bank Statement

2Income Tax Return

3Profit and Loss Account or Balance Sheet of the Company

4Proof of Source Of Income

5Brief about the asset and liabilities possessed by the borrower.

City Union Bank Education Loan Review And Application Procedure:

City Union Bank Education Loan application can be downloaded from their website at http://cityunionbank.com/online/index.html

People can fill up the form in which the details of the student and the co- borrower are to be mentioned along with the necessary documentation. People can also submit the application at the branch and the loan will be disbursed in installments to the college or institute directly.

City Union Bank Education Loan Rate Repayment Option And Pre Closure Process:

The loan needs to be paid back in 5 to 7 years from the date of disbursement of the loan. The student can avail a repayment holiday for a period of 1 year or six months or till the person gets a job or whichever is earlier. The pre-closure process is stated by the branch of the bank. Late fee charges will be as per the agreement.

City Union Bank Education Loan Tax benefits: One can get tax benefits if any according to the Income Tax Act 1961 which varies yearly according to the changes made by the Government.

More details on City Union Bank Education Loan eligibility and City Union Bank Education Loan rate etc. are on the official site at  http://www.cityunionbank.com/home/cubvidyavani.htm