1) UBI Education Loan:
UBI offers education scheme loan at affordable rates of interest for the convenience of students and parents. Borrowers can enjoy a 1% concession on the regular interest rates, during the moratorium period, if the interest is serviced monthly and regularly during this period.
Parents with an income of up to Rs. 4.5 lakhs p.a enjoy an interest subsidy by the government, during the moratorium period. The interest rate table below explains the rate of interests in detail.
Up to Rs. 4 lakhs
Base Rate + 2% = 12.00% (at present)
Above Rs. 4 lakhs to Rs. 7.50 lakhs
Base Rate + 2.75% = 12.75% (at present)
Above Rs. 7.50 lakhs
Base Rate + 2% = 12.00% (at present)
Please note that the above mentioned rates are floating rates of interest, and are subject to change.
2) UBI Superb Education Loan Scheme:
The rate of interest charged depends on the category of the institute and the gender of the student. Please refer to the table below for a detailed account of the same.
‘A’ List Institutes (male/female students)
Base Rate = 10.25% (at present)
‘B’ List Institutes (male students)
Base Rate + 0.50% = 10.75% (at present)
‘B’ List Institutes (female students)
Base Rate + 0.25% = 10.50% (at present)