Uttarakhand Gramin Bank Education Loan

UKGB Education Loan

Uttarakhand Gramin Bank is a RRB (regional rural bank) which is sponsored by State Bank of India. This bank was established in year 2012 after merging of two banks namely Uttaranachal Gramin Bank, Dehradun and Nainital Almora Kshetriya Gramin Bank. Head office is located in Dehradun, Uttarakhand. The bank functions all over the state.

Purpose of Loan
• To buy books, equipment and instruments
• Payment of admission fee and tuition fee etc.
• For studies outside India, disbursals in air travel, purchase of uniform.
• To pay for hostel/college/school fees and boarding cost.
• To fund relevant expenses incurred which are related to subject’s education like exams, lab, library fee, deposits.
• For the purchase of computer if required for the completion of the study program.

Eligibility Criterion
• Should be an Indian National.
• Parents may apply conjointly with the applicant and ease the repayment of loan via subsisting means of income.
• Applicant must have selected and secured admission in approved and acknowledged course and college or university.
• Applicant’s parents or guardian or guarantor must possess a land property in Uttarakhand.

Eligible Courses
A. For studies in India
• Graduate and Post-graduate Courses of Diploma or Degree etc. in computers, engineering, science, medical, agricultural, arts, commerce and management fields.
• All study programs which are carried out by Colleges and Universities which are approved by UGC/ AICTE /Govt. / ICMR etc.
• Certificate course of Computer from reputed institutions like NIIT, APTECH, accredited to Department of Electronics or Institutions affiliated to University.
• Programs such as ICWA, CA, CFA, etc.
• Programs conducted by autonomous institutions like IIM, IIT etc.

B. For studies abroad
• Under-graduate study programs in subjects like engineering, biological & natural sciences, computer sciences.
• Post-graduate programs in the disciplines mentioned above and degree/ diploma in business administration.
• Courses like CIMA-London, CPA (USA).

Quantum of Finance
• Maximum amount of loan to be sanctioned for pursuing studies in India – 10 lacs
• Maximum amount of loan to be sanctioned for pursuing studies abroad – 20 lacs

Margin
Loan Amount        In India    Abroad
Up to 4 lacs            Nil             Nil
More than 4 lacs   5%             15%

Essential Documents for loan processing
• Mark sheet of the result of last exam passed which is to fall eligible for this loan. Original document required.
• The letter relating to the scholarship or any other type of grant, if the applicant is receiving any.
• Complete details and description of the desired study course.
• Valid proof of selection and admission of the student in the university/college.
• Estimate of the future expenses during the course.
• Bank account statement for last six months from the account of the borrower, co-borrower in case of minor student.
• Proof of identity, like PAN card, driving license etc.
• Two passport size photos.
• Residence proof, like voter ID card, passport etc.
• IT return or salary slip/form 16 of the parent/ guardian of the borrower.

Holiday period of loan: Length of the study program plus 6 months or securing a job, whichever is in the first place.

Security
• Up to Rs. 4 Lacs – Nil
• More than Rs. 4 Lacs – Collateral in the manner of an acceptable guarantee.

Uttarakhand Gramin Bank Official website: uttarakhandgraminbank.com

One thought on “Uttarakhand Gramin Bank Education Loan

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