Edu Loan Master Annex 19.05.12

Annexure -A
Contents of H.O. Circular No. RBD/UELS/9/OM-0186/11-12 dated 2

nd
July, 2011

Sub : United Superb Education Loan Scheme
The costs of study associated with the premier institutions in the country are on an
unprecedented rise. Different Institutions fix up course fees taking into consideration the
related cost of programme (course specific), placement record and the emoluments
received by the students.
To stay in tune with the requirements of a rapidly transforming education system and to
cater the needs of the students of the premier institutes of higher learning where the track
record of employability and earning potential of passed out students are very high, our
Bank has decided to introduce a new scheme under the title of United Superb
Education Loan.
The details of the said scheme are as follows:
Name of the Scheme United Superb Education Loan Scheme
Purpose To Pursue studies in India in IITs, IIMs and other Premier
Intuitions
Quatum of Loan Maximum loan limit upto Rs. 20 lakhs
Rate of Interest Floating:
For IITs, IIMs & ISB students:
(a) BR + 0.50% (10.50%); during the course period &
BR+1.00% (11.00%) after repayment holiday (course period + 1
year or 6 months after getting job, whichever is earlier)
For others :
b) BR + 2.00% (12.00%)
Concession for
Female students
0.50% p.a. in rate interest.
Interest Concession No concession in interest will be given, even if interest is
serviced during the moratorium period.
Margin Up to Rs. 4 lac Nil
Above Rs. 4 lac 5%.
Security Upto Rs. 8 lac No security
Above Rs. 8 lac to Rs. 15 lac Third party guarantee
Above Rs. 15 lac to Rs. 20 lac Tangible collaterals for loan
amount
In addition (a) Co-obligation of the Parents/guardians and (b)
assignment of future income shall be stipulated in all cases.
In case of married students, for loan above Rs. 4 lac, spouse if
any, to made guarantor even if he / she is
unemployed/housewife.
Repayment Period Up to 7 years
Repayment Holiday Course period + 1 year or 6 months after securing employment,
whichever is earlier
Delivery Channel Loan from Designated Branch (wherever the Bank will decide)/
Branch nearest to the place of residence. Before sanction the
designated Branch at the camp will get in touch with Branch
nearest to place of residence to ascertain distance from Branch
(30 kms) to ensure subsequent follow up of loans. If it is beyond
30 kms, loan should not be sanctioned.
Such loan account shall be transferred to branch nearer to the
place of residence of co-borrower (after completion of course) to
maintain tracking of student and to ensure follow up.

Life Insurance
coverage
Coverage of student life shall be mandatory. Additional loan
component may be extended for payment of premium.
Other features All other existing features & norms of United Education Loan
Scheme will remain applicable for United Superb Education
Loan Scheme.

Selection of Institutes (Courses):
The list of premier institutes approved under erstwhile United Excell Education loan
scheme would stand valid for United Superb Education Loan Scheme. However,
from time to time list will be updated and circulated to all Regions.

Tracking & follow up :
One of the major issues faced at the operational level is the students permanent
address/place of domicile, which may not be near to our branch. For operational
convenience (delivery, tracking, monitoring and control) following would be applicable:
01. Disbursement of loan should be effected at the branch nearest to the Institute /
camp or from the Branch nearest to the permanent residence / domicile place of
the student.
02. In case disbursement is proposed / preferred by the student from the branch
nearest to Institute, the said branch will communicate with the branch nearest to
place of residence, over phone and e-mail, to assess the operational convenience
of the that branch to monitor and track the borrower in the event the account is
transferred to that end. In case of large distance (more than 30 km) between
branch and student permanent residence, the tracking, monitoring and recovery
will be a problem therefore based on the feedback of the Branch close to
domicile, the prudent decision to extend loan by disbursing branch in concurrence
with the concerned Regional Office is to be taken.
03. Branch Managers will exercise D.P. in terms of delegated financial powers.
However, the proposal beyond the limit of the DP of the Branch Manager / hub
in-charge shall be forwarded to the Regional Authority duly recommended for
sanction.
04. The student should provide his PAN No. or/and his/her parents / guardian /
guarantor PAN No. or permanent address proof over and above other certificates
confirming his/her identity proof, residential address (with e-mail address,
Residential Phone No. Mobile Phone No. and Date of Birth) & other particulars.
Every year student will submit a declaration confirming his/her permanent
address and parents employment status/addresses along with documentary proof,
in case of any change in contact details.
05. Copy of passport is to be taken and kept on record. In case not available, same
should be produced before disbursement of 2
nd
year fee.
06. Branch will collect details of employer/campus placement record of student and
keep track with the employer/borrower.

Regions/Branches/field functionaries should undertake massive campaign to publicize
United Superb Education Loan scheme and approach institutes to put up camps in order
to market the scheme for sizable growth in the portfolio.

TOP 25 BUSINESS SCHOOLS FOR SUPERB EDUCATION LOAN SCHEME (Annexure-B)
S.No NAME OF COLLEGES LOCATION
1. Indian Institute of Management, (IIM A) Ahmedabad
2. Indian Institute of Management, (IIM C) Calcutta
3. Indian Institute of Management, (IIM B) Bangalore
4. Indian Institute of Management (IIMI) Indore
5. Indian Institute of Management (IIMK), Kozhikode
6. Indian Institute of Management (IIML) Lucknow
7. Department of Management Studies, IIT (Delhi) Delhi
8. Indian Institute Of Foreign Trade New Delhi
9. Xavier Labour Relations Institute (XLRI) Jamshedpur
10. Rajiv Gandhi Institute Of Management Shillong
11. Indian School of Business (ISB) Hyderabad
12. Vinod Gupta School of Management(VGSOM)-IIT Kharagpur Kharagpur
13. Jamnalal Bajaj Institute of Management Studies (JBIMS)- (for 2 year full time
MBA)
Mumbai
14. S.P. Jain Institute of Management and Research (SPJIMR)- (for 2 year
full time MBA)
Mumbai
15. Tata Institute of Social Sciences Mumbai
16. Management Development Institute (MDI) Gurgaon
17.
Narsee Monjee Institute of Management Studies (NMIMS) -(for 2 year
full time MBA)
Mumbai
18. T.A. Pai Management Institute (for 2 year full time PGDM) Manipal
19. Symbiosis Institute of Business Management Pune
20. Shailesh J Mehta School Of Management Mumbai
21. Institute of Management Technology (IMT) (for 2 year full time
PGDM)
Ghaziabad
22.
Faculty Of Management Studies, BHU
Varanasi
23.
Xavier Institute of Management
Bhubaneshwar
24.
Prin. L.N Welingkar Institute of Management
Mumbai
25.
Mudra Institute of Communications (MICA) - (for Post Graduate
Diploma in Management - Communications (PGDM-C) only)
Ahmedabad
TOP 50 ENGINEERING INSTITUTES FOR SUPERB EDUCATION LOAN
SCHEME (Annex-B)
1 IIT Kanpur Kanpur
2 IIT Kharagpur Kharagpur
3 IIT Bombay Mumbai
4 IIT Madras Chennai
5 IIT Delhi Delhi
6 BITS Pilani Pilani
7 IIT Roorkee Roorkee
8 IT-BHU Varanasi
9 IIT Guwahati Guwahati
10 College of Engg, Anna University Guindy
11 Jadavpur University, Faculty of Engg & Tech Calcutta
12 Indian School of Mines Dhanbad
13 NIT Warangal
14 BIT, Mesra Ranchi
15 NIT Trichy
16 Delhi College of Engineering New Delhi
17 Punjab Engineering College Chandigarh
18 NIT Suratkal
19 Motilal Nehru National Inst. of Technology Allahabad
20 Thapar Inst of Engineering & Technology Patiala
21 Bengal Eng and Science University, Shibpur Howrah
22 Maulana Azad National Institute of Technology Bhopal
23 PSG College of Technology Coimbatore
24 NIT Raipur
25 Harcourt Butler Technological Institute Kanpur
26 Malviya National Institute of Technology Jaipur
27 Visvesvaraya National Institute of Technology Nagpur
28 NIT Kozhikode
29 Dhirubhai Ambani IICT Gandhinagar
30 Osmania Univ. College of Engineering Hyderabad
31 College of Engineering, Andhra University Vishakhapatnam
32 Netaji Subhas Institute of Technology New Delhi
33 NIT Kurukshetra
34 NIT Rourkela
35 SVNIT Surat
36 Govt. College of Engineering Pune
37 Manipal Institute of Technology Manipal
38 JNTU Hyderabad
39 R.V. College of Engineering Bangalore
40 NIT Jamshedpur
41 NIT Jalandhar
42 Veermata Jijabai Technological Institute Mumbai
43 Vellore Institute of Technology Vellore
44 Coimbatore Institute of Technology Coimbatore
45 NIT Hamirpur
46 IIIT Allahabad
47 NIT Patna
48 NIT Durgapur Durgapur
49 College of Engineering Trivandrum
50 Mumbai University Inst of Chemical Tech Mumbai

TOP 25 MEDICAL COLLEGES Annexure -B
SI.
NO NAME OF COLLEGES LOCATION
1
AIIMS Delhi
2
Armed Forces Medical College Pune
3
Christian Medical College Vellore
4
JIPMER Pondicherry
5
Kasturba Medical College Manipal
6
Lady Harding Medical College Delhi
7
Maulana Azad Medical College Delhi
8
Grant Medical College Mumbai
9
St. Johns Medical College Bangalore
10
Madras Medical College Chennai
11
Stanley Medical College Chennai
12
King George Medical University Lucknow
13
B.J. Medical College Ahmedabad
14
Christian Medical college Ludhiana
15
Institute of Medical Sciences, BHU Varanasi
16
Seth G.S. Medical College Mumbai
17
Bangalore Medical College Bangalore
18
University College of Medical sciences Delhi
19
Sri Ramachandra Medical College & Research Institute Chennai
20
Lokmanya Tilak Municipal Medical College Mumbai
21
M.S. Ramaiah Medical college Bangalore
22
Medical College & Hospital Kolkata
23
Topiwala National Medical College Mumbai
24
Government Medical College Chandigarh
25
Jawaharlal Nehru Medical College Aligarh

Annexure-C

Contents of H.O. Circular No. RBD/UEL/ 26 /OM-0381 /11-12 dtd 20
th
Sept.11

Sub: Revised Guidelines for United Educational Loan Scheme
Ref: 1) HO Circular No. CPPMI/ADV/RCD/EL/101/OM-158/2001 dated
09.07.01 2) HO Circular No. RBD/25/OM-396/2004 dated 09.11.04 3) HO
Circular No. RBD/UEL/1/OM-11/07-08 dated 01.04.08

The Bank introduced a Model Educational Loan Scheme in the year 2001 which
was revised in the year 2004 and again in 2008 in terms of guidelines of IBA and
directives received from RBI for extension of financial assistance to deserving /
meritorious students to help pursue higher education in India and Abroad.

The model Education Loan Scheme is developed by the Indian Banks
Association to help meritorious students pursue higher education in technical
and professional courses. As the focus is on development of human capital,
repayment of the loan is expected to come from future earnings of the student
after completion of education. Hence the assessment of the loan will be based on
employability and earning potential of the student upon completion of the
course and not the parental income/family wealth.

The Bank received IBA communication on modification of Model Education
Loan Scheme for pursuing higher Education in India and Abroad for
implementation. The revised scheme of IBA addresses the concerns of bankers
and attempts to remove the operational difficulties faced by the branches. The
salient features are
(a) Merit as the sole criteria for eligibility.
(b) Admission under management quota kept outside the scope of the
scheme.
(c) The quantum of loan to be justified by the employment potential and
(d) Extension of repayment period to reduce burden on the beneficiaries.

The details of the modified scheme, in supersession of all previous Circulars, is
provided in Annexure I.

Children / Wards of the Bank employees are eligible to avail of this facility. The
modifications in the scheme will come into force with immediate effect. The
existing loan accounts under the said scheme will, however, continue under the
policy guidelines of the scheme in which the loan was sanctioned.

All concerned are advised to carefully go through the revised scheme and act
accordingly.
Annexure - I

Details of revised guideline of United Educational Loan Scheme

It aims at providing need-based finance to meritorious student for taking up
higher education.

1. Objectives of the scheme :
The word meritorious is a relative term. The following parameters are to be
decided before considering proposal under United Educational Loan Scheme.

(a) If the student has obtained admission to an eligible course through a merit
based selection process, he/she could be considered a meritorious
student.
(b) Where the admission is purely based on the marks scored in qualifying
examinations, the bank has fixed a cut-off marks ( 70% marks in XII
standard examination) for loan eligibility.
(c) Management seats or management quota refers to the seats in private
education institutions for which the management has discretion to give
admission on factors other than merit. Usually for the management seats
the only requirement would be passing of the qualifying examination with
certain minimum stipulated marks. It is logical to interpret that these seats
do not qualify for being called meritorious. Hence any loan considered
for students getting admission under management quota would outside
the present model scheme of Education Loan of the Bank.

2. Student Eligibility :

For the purpose of this scheme higher education is defined as studies taken up
after completion of higher secondary school i.e. Ten plus two stage. The Bank
will decide financing the students depending on employability and consequent
ability to repay the loan. It needs to be mentioned that under Central Sector
Interest Subsidy Scheme the subsidy is available only for loans given for
Professional and Technical courses (after 12
th
standard) in India for this
Educational Loan Scheme.

i) Should be an Indian National.
ii) Secured admission to professional/technical course in India or Abroad
through Entrance Test/Merit based Selection process.
iii) Employability of the course and reputation of the institution.

3.Courses Eligible:

(A) For Study in India:
i) Approved courses leading to Graduate / Post Graduate degree and PG
diplomas conducted by recognized college/ universities recognized by UGC/
Govt. / AICTE/ AIBMS/ ICMR etc.
ii) Courses like ICWA, CA, CFA, etc.
iii) Courses conducted by IIMs, IITs, IISC, XLRI, NIFT,NID etc.
iv) Regular Degree/ Diploma courses like Aeronautical, pilot training, shipping
etc., approved by Director General of Civil Aviation/ Shipping, if the course is
pursued in India.
v) Approved courses offered in India by reputed foreign Universities.
vi) Other job oriented courses leading to technical/ professional degrees, post
graduate degrees/ diplomas offered by recognized institutions may also be
appraised by the Bank depending on future prospects/recognition by user
institution.

Note: Vocational Training and skill development study courses will not be
covered under the scheme as this scheme is framed to provide bank loans for
higher education.

While processing Educational Loans of students for Higher Education in India,
the common difficulties faced by the Branches are like accreditation status of
professional courses like MBA, Engg. etc., information about fake Colleges /
Universities etc. In this regard, a list of statutory bodies / professional councils
like University Grant commission (UGC), All India Council for Technical
Education (AICTE), Medical Council of India (MCI) etc. giving all relevant
information is given under.

For ready reference of the University, Institute etc. the Branch/ R.O. is advised
to visit website as under :
i) University Grants Commission: www.ugc.ac.in, The site consists, inter
alia, a section on Higher Education which has information about the
statutory professional councils, List of recognized Universities &
Colleges in India, Fake Universities Alert etc.
ii) List of Statutory Councils : Professional Councils are responsible for
recognition of courses, promotion of professional institutions and
providing grants to undergraduate programs and various awards.

a) All India Council for Technical Education (AICTE) : www.aicte.org.in,
www.aicte-india.org, www.aicte.ernet.in
b) Medical Council of India (MCI): www.mciindia.org
c) National Council for Teacher Education (NCTE): www.ncte-in.org
d) Dentists Council of India (DCI): www.dciindia.org
e) Pharmacy Council of India (PCI): www.pci.nic.in
f) Indian Nursing Council(INC): www.mohfw.nic.in
g) Council of Architecture :www.coa-india.org
h) National Informatic Centre : www.education.nic.in,
i) Association of India Universities : www.aiuweb.org
j) Others including Foreign Institutes: www.wikipedia.org,

(B) For Study Abroad
i) Graduation: For job- oriented professional/technical courses offered by
reputed Universities.
ii) Post Graduation: MCA, MBA, MS, etc.
iii) Courses conducted by CIMA- London, CPA in USA etc.
iv) Degree/ diploma courses like aeronautical, pilot training, shipping etc.
provided these are recognized by competent regulatory bodies in India/ aboard
for the purpose of employment in India / abroad.

For ready reference the Branch/ R.O. is advised to visit website :
www.webometrics.info

A list of various official websites related to three countries viz. Australia, United
Kingdom, United States of America is given herein below The websites will
provide comprehensive and up to date information about their education system
and addresses and all relevant issues pertaining to foreign students wanting to
study in their country. For countries other than these, the Branches/ R.O.s are
requested to visit the respective Govt. / Embassies Websites (e.g. Do a Google
Search) for getting the information.

I. AUSTRALIA :
a) Australian Embassy in India www.ausgovindia.com
b) Official site Australian Educational Opportunities
www.studyinaustralia.gov.au

II. UNITED KINGDOM:
a) British High Commission in India www.ukindia.org
b) British Councils site www.britishcouncil.gov
c) Official site Study opportunities in UK - www.educationuk.org
d) Official site of Quality Assurance Agency www.qaa.ac.uk

III. UNITED STATES OF AMERICA:
a) U.S. Embassy in India www.newdelhi.usembassy.gov
b) Official site educational opportunities in U.S. www.educationusa.state.gov
c) Council for Higher Education Accredition (CHEA) www.chea.org

4. Expenses to be considered for loan :
i) Fees payable to College/Hostel (Reasonable lodging and boarding charges.
ii) Examination/Library/Laboratory Fee.
iii) Travel Expenses/Passage Money for studies abroad.
iv) Insurance premium for student borrower, if applicable.
v) Caution Deposit, Building Fund/Refundable Deposit supported by
Institution Bills/Receipts subject to condition that the amount does not exceed
10% of total tuition fees of the entire course.
vi) Purchase of Books/Equipments/Instruments/Uniforms.***
vii)Purchase of Computer at reasonable cost, if required for completion of the
course.***
viii)Any other expenses required to complete the course like study tours, project
work, thesis, etc.***

*** It is likely that expenditure under Item Nos. vi, vii & viii above may not be
available in the schedule of fees and charges prescribed by the college
authorities. Therefore, a realistic assessment may be made of the requirement
under these heads. However, the maximum expenses included under vi, vii &
viii may be capped at 20% of the total tuition fees payable for completion of the
course.

5.Quantum of loan:
Need based finance to meet the expenses worked out as per para 4 above will be
considered taking into account margins as per para 6 subject to the following
ceilings :
a. Studies in India : Maximum upto Rs. 10 lacs
b. Studies Abroad : Maximum upto Rs. 20 lacs

The ceilings fixed for studies in India and Abroad correspond to the limits fixed
by the RBI for treatment as priority sector lending.

6.Margin :
a) Upto Rs.4.00 lacs : NIL
b) Above Rs.4.00 lacs : i) Inland Studies : 5%
ii) Studies Abroad :15%
Note: Scholarship/assistantship to 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.

7.Security :
a) Up to Rs.4 lac : No security ( only Co-obligation of parents)
b) Above Rs.4 lac and upto Rs.7.5 lac : Co-obligation of parents together with
collateral security in the form of a suitable third party guarantee. The branch
may at its discretion in exceptional cases waive third party guarantee if satisfied
with the net-worth/means of parent who would be executing the documents as
joint borrower.
c) Above Rs.7.5 lac : Co-obligation of parents together with tangible collateral
security of suitable value, along with the assignment of future income of the
student for payment of installments.

Note :-
i) The document should be executed by both the student and the
parent/guardian as joint-borrower.
ii) Assignment of future income of the students for repayment of loan
instalments to be ensured in all cases.
iii) The security can be in the form of land / building / Govt. securities /Public
sector Bonds/units of UTI,NSC,KVP,LIC policy gold, shares/mutual fund units/
debentures, bank deposit in the name of student / parent/guardian or any other
third party or any other tangible security acceptable to the bank with suitable
margin.
iv) Wherever the land/building is already mortgaged, the unencumbered
portion can be taken as security on second charge basis provided it covers the
required loan amount.
v) In case the loan is given for purchase of computer the same to be
hypothecated to the Bank.

8.Interest on loan : (floating rate linked with Banks BR)
a. Upto Rs.4.00 lac : BR + 2.00% = 12.60% p.a.(at present)
b. Above Rs.4.00lac : BR + 2.75% = 13.35% p.a.(at present)
Concession for Girl Student: 0.50% p.a. from card rate.

(The interest shall be debited monthly on simple basis during the repayment
holiday/moratorium period and thereafter on compounding basis)

The rate of interest is subject to revision with change in Banks BR and as per
H.O/ RBI directive from time to time.

Note :
(i) 1% interest concession may be allowed to loanee(s) upto moratorium period
only if the interest is serviced monthly and regularly during the moratorium
period. In case interest is not serviced during study period and moratorium
period till commencement of repayment, accrued interest will be added to the
principal amount borrowed while fixing EMI for repayment.
(ii) Penal interest @2% to be charged for overdue amount and overdue period
irrespective of any loan amount.

9.Insurance :
Life insurance coverage is provided to education loan borrowers during the
tenure of the loan against payment of one time premium under United Shiksha
Suraksa. The scheme provides security not only to the customers life (including
co-borrower) but also against their loan liability. The premium is to be realized
from the borrower in cash or by debiting his/her SB A/c or C/D A/c maintained
with the Branch. It may also be debited to his/her loan account as an additional
loan component (to be included in project cost) to be sanctioned by the
concerned sanctioning authority of the original loan against his/her written
request. The insurable limit will be equivalent to the sum total of loan amount
and the projected interest for the moratorium period. The detailed guidelines in
this regard have been provided vide H.O. Circular No. BANCASSU/C-2/OM-
419/2006-07 dated 28.10.2006. The premium chart is modified time to time to suit
the requirement of the borrowers.

10. Appraisal:
In the normal course, while appraising the loan, the prospects of future income
of the student will be looked into.

Applications will be received directly at the Branch and process the proposal.
However, the Bank has introduced a system of submission of on-line application.
The applicant student shall be guided to visit Banks website at
www.unitedbankof india.com and to go to the link on-line education loan. From
Head Office, upon receipt of application, standard acknowledgement is issued.
The disposal of application is ensured within 48 hours. The In-principle sanction
of loan is accorded to the student with a copy to the concerned Branch and the
respective Regional Office. The proposal shall finally be sanctioned by the Branch
adhering to the laid down norms. In case the applicant experiences any problem
or inordinate delay from the Branch, the matter shall be referred to Head Office
through the same mode.

Normally, sanction/rejection shall be communicated within 15 days of receipt of
duly completed application with supporting documents. Rejection of application
shall be done with the concurrence of the Regional Office and be conveyed to the
student stating reason for rejection.

11.Sanctioning Authority:

Normally loan application will be accepted by the Branch nearest to the
residence of parents.

The Manager of the Branch will consider proposal on its own merit and sanction
the same under the existing Discretionary Power delegated by the Bank to them
according to their respective scale of pay as per HO Circular No.
CPPMI/ADV/378/OM-0916/10-11 dated 18.03.2011 and as per revised guidelines
from HO from time to time. However, the proposal beyond the limit of the
Discretionary Power of the Branch Manager shall be forwarded to the Regional
Authority duly recommended for sanction.

12.Disbursement :

1. The loan is to be disbursed in stages as per requirement /demand directly
to the Institutions/Hostel authority/Vendors of books
/equipments/instruments to the extent possible.
2. No application for educational loan received should be rejected without
the concurrence of the next higher authority.

13.Repayment of loan :
The sanctioning authority may fix up repayment of the loan in equated monthly
instalments as under:

For loans upto Rs. 7.5 lakhs -not exceeding 10 years;
For loans above Rs. 7.5 lakhs -not exceeding 15 years;

If, however, the loan size is small (less than Rs. 4 lakhs) and students income is
sufficient enough to service EMI, the repayment period may be fixed up within a
period upto 7 years in consultation with the borrowers.

The repayment will commence after a moratorium/repayment holiday, which is
course period plus 1 year, or 6 months after getting job whichever is earlier.

Note:
(i) The accrued interest during repayment holiday period is to be added to the
principal and repayment in EMI fixed.
(ii) If the student is not able to complete the Course within the scheduled time,
extension of time for completion of Course may be permitted for a maximum
period of 2 years.
(iii) If the student is not able to complete the Course for reasons beyond his
control, sanctioning authority may at his discretion consider such extension as
may be deemed necessary to complete the Course.
(iv) In cases the student discontinues the course midway, appropriate repayment
schedule is to be worked out in consultation with the student/parent.
(v) No prepayment penalty will be levied for prepayment of loan any time
during the repayment period.

14.Documentation:
The document should be executed by both the student and the parent/guardian.
An irrevocable letter of authority is to be obtained from the borrower student
authorising his parents / guardian and co-loanee to acknowledge balance
confirmation by the parents/guardian and such acknowledgment will be
considered as acknowledgment signed by him also.

15. Processing Charges:

a) For study in India: Nil
b) For studies abroad: 0.20% of the loan amount to be levied at the time of
processing for sanction and will be refunded if the loan is availed by
the student. In case of partial availment of loan, refund of processing
fees on pro-rata basis will be made.

16.Capability Certificate:
Capability Certificate can also be issued for students going abroad for higher
studies. For this financial and other supporting documents may be obtained from
applicant, if required.

(Some of the Foreign Universities require the students to submit a certificate
from their bankers about the sponsors' solvency / financial capability, with a
view to ensuring that the sponsors of the students going abroad for higher
studies are capable of meeting the expenses till completion of studies).

17.Forex Facility For Students:
Students going abroad for studies are treated as Non-Resident Indians (NRIs)
and are eligible for all the facilities available to NRIs under FEMA. In addition,
they can receive remittances up to US $1.00 lac per calender year from their close
relatives from India on self-declaration towards maintenance, which could
include towards their studies.

18. Relaxation of Norms:
If any relaxation in terms like eligibility, margin, security norms is required to be
considered in any individual case of exceptional meritorious student, the same

may be referred to Head Office with specific recommendation of concerned
Regional Head for approval.

19. Other Conditions:
a) Meritorious Students: Branches willing to support highly & exceptionally
meritorious/deserving students without security may refer the proposal
to Head Office with specific recommendation of concerned Regional
Manager.
b) Multiple Loans in a family: In case of receipt of application for more than
one loan for student-borrower from a family, it is to be noted that the limit
is not for family wise but individual wise. That means, any number of
applicants belonging to the same family may be sanctioned loans upto Rs.
4 lakh individually without insisting for any security. Existence of an
earlier education loan to the brother(s) and/or sister(s) will not affect the
eligibility of another meritorious student from the same family obtaining
education loan as per this scheme from the bank.
c) Minimum Age: No specific restriction with regard to age of the student to
be eligible for education loan. No loan application & loan documents are
to be signed by the minor student. The parent/guardian will sign and
execute the documents in two capacities i.e. for self as co-obligant and also
on behalf of the minor student. On attaining majority the student will
execute the Deed of Ratification in respect of all agreements and
documents executed by the parent/guardian on his/ her behalf.
d) Change of address: In case of student staying with parent and where such
parents have transferable job or there is any change of address, the
student-borrower has to intimate the same to the financing branch as and
when changes occurred. In this regard an undertaking is to be obtained
from the parent/guardian jointly with student stating the reason for
change of address from time to time.
e) Top up Loans:
i) The bank can consider extension of moratorium period on merit and
case to case basis but repayment period must not exceed the period of
10 years or 15 years, as the case may be, from the date of sanction of
1
st
loan but the total loan under both the courses shall be well within
the overall ceiling of loan for study in India or Abroad.
ii) In case where the interest is serviced during the currency of the loan,
no processing charges shall be realized for allowing top up loan for
higher studies in abroad.
iii) Two separate loan accounts are to be opened with the prevailing rate
of interest on the date of sanction by issuing fresh sanction letter for 2
nd

loan and separate documents have to be obtained for 2
nd
loan.
iv) After the clubbing both the loan limits together, requirement of
security is to be ascertained as per security norms of the scheme. (i.e.,
No security is required to be taken for a loan limit upto Rs 4 lac after
taking into account the sum of two loans availed)
v) Sanctioning authority to the top up loan shall be the concerned
Regional Head and concerned Branch Head shall recommend the
proposal to their RO for consideration on merit.
vi) 2
nd
loan shall be considered on merit and case to case basis keeping in
view academic background, performance in the existing course, scope
of future employment / earning capacity to repay the entire loan, etc
vii) The borrower must service the interest during moratorium period
(existing loan as well as extended). In case where interest is not
serviced, total accumulated interest in the form of balance in excess of
sanctioned limit shall be got serviced before exercising such extension.
viii) The sanctioning authority shall also ascertain that the borrower has the
capacity to service interest monthly and regularly and shall ensure that
the further study is of good standard as per course specified in
education loan scheme.
ix) Life insurance cover for the entire amount of loan under United
Shiksha Suraksha Scheme is mandatory.
x) The repayment of the loan will commence after the completion of the
second course and further moratorium period, as provided under the
scheme.

f)Co-obligator: The co-obligator should normally be parent(s) / guardian of
the student borrower. In case of married person, co-obligator can be either
spouse or the parents / parents-in-law.

g)Branches will contact College/ University authorities to send the progress
report at regular intervals in respect of students who have availed loans. In
case of studies abroad, bank shall obtain SSN/Unique Identification Number
(UIN) viz, Passport No., etc and a copy of Identity card issued by the College
/ University and note the same in the banks record. The UID number issued
by UIDIA may also be captured in banks system as and when available.

h)No dues certificate need not be insisted upon as a pre-condition to consider
Educational Loan. However, Bank shall obtain a declaration/an affidavit
confirming that no loans have been availed from other banks, the
parents/guardian are also not defaulting with any bank.

i)The student financed under the Scheme should not take up any
employment during the period of the Course, except with the permission of
the Institution/ bank. In such case the student-borrower start repayment at
least 20-30% of emoluments.

j)The student should strive to secure suitable employment after the Course is
completed. As soon as he secures employment, he should furnish the Bank
with full particulars of such employment including income therefrom. The
parent/guardian must give an undertaking that he/she/they will inform the
Bank about such employment within 15 days of getting job.

k)The student shall follow all the rules and regulations laid down by the
Institutions where he will prosecute studies and shall maintain such dignity
and honour, as is expected of an student pursuing higher education.

l)The student must produce permission of the Foreign University accepting
the student for enrollment or letter of admission from the Foreign University.

m) As per present RBI directive, outward remittance upto US $1.00 lac per
resident Indian per annum may be allowed freely on the basis of simple
declaration (which is subject to changes). However, the non- AD branches
should contact their respective link B category AD Branch for the purpose of
remittance.

n) The loan to the students will be granted by way of Term Loan.

20. Disposal of Loan Applications: Loan applications have to be disposed of
within a period of 15 days to 1 month, but not exceeding the time norms
stipulated for disposing of loan applications under priority sector lending.

21.Accounting Procedure:
a) A head already opened in the General Ledger in the style of United
Educational Loan will continue to be maintained
b) During the Repayment holiday/ Moratorium period the interest be
charged monthly on simple basis to the debit of loan account and
corresponding credit to P/L account. Thereafter the interest to be charged
on compounding basis on monthly rest. EMI will be fixed covering the
amount of principal together with total interest already charged during
the moratorium period.
c) For opening of A/c, the Branches are to go to Finacle Start Screen and to
Finacle Help Menu and then to Advance, Procedure for opening A/c,
LAA and opening of Loan consecutively.
d) CBS Help Desk (Press 333 in IP Phone) is ready to extend any sort of
assistance in this regard.

22.Tracking of Student: In order to track the student after leaving the
educational institution the following steps should be taken.
a) Disbursement of Educational Loan should be effected at the bank branch
where the student has permanent residence/domicile (command area - 10
kms radius of .the Branch; in exceptional cases concerned Regional Head
will accord necessary permission on merit and case to case basis)
b) The student should provide either his/her PAN No. or his/her parents
PAN No or permanent address proof over and above other certificates
confirming residential address and other particulars.
c) Parents/guardians should be made co-obligant.
d) In case of existing accounts under tie-up arrangement, loans are to be
transferred to nearest branch of the place of domicile.
e) Arrangement should be made with the institution to furnish the name of
the recruiting authority at the time of campus recruitment compulsorily.

23.Other operational guidelines :
The student borrower with whom the Bank officials would be dealing would be
young boys/girls. They therefore need special sympathetic treatment and care at
the hand of our officials. The operating staff should bear in mind that the loans
under the Scheme would be given to the future intellectuals of the country with a
social objective and not on commercial consideration.

All other usual conditions and formalities are to be followed as per
rules/directives/guidelines of Reserve Bank of India /IBA /HO as amended
from time to time.

Scrutiny of A/c on month end basis has to be undertaken by the Branch officials
to ascertain whether moratorium period (course period plus 12 months or 6
months after getting job, whichever is earlier) is over. As per terms of sanction,
the interest accumulated till the end of moratorium shall be compounded with
the principal amount without fail otherwise the Bank will incur revenue loss.

Effective monitoring of account through timely issuance of reminder, visits to the
residence/ parent, field follow up (including writing to the employer) has to be
meticulously undertaken so that a single account is not slipped into NPA. If the
borrower is gainfully employed and found to be a willful defaulter the Branch
will initiate appropriate recovery measure in terms of Recovery Policy of the
Bank.

The terms and conditions affecting the interest of the customers should be clearly
spelt out in the Sanction Letter so as to avoid confusion in future and / or
invitation of complaint from the customers /Banking Ombudsman.

Frequently Asked Questions

The field level functionaries often raise some questions. In order to satisfy
them the following FAQs with Answers are provided.

Q1. What criteria should be adopted to recognize courses like Nursing,
Teacher Training, B.ED for the purpose of grant of education loan and the fees
to be considered for such courses ?

Ans. Teacher Training/Nursing/B.Ed courses will be eligible for education loan
provided the training institutions are approved either by the Central
Government or by State Government and such courses should lead to Degree or
Diploma course and not to Certification courses. The revised Model Educational
Loan Scheme (2011) covers only merit channel seats for these courses.
Banks have been considering study loans to students getting admissions to above
mentioned courses under management quota as part of model education loan
scheme in the past subject to the condition that the fee considered for assessment
of loan was the fee stipulated by the regulatory authority concerned for merit
seats in the respective college/institutions. The revised model scheme recognizes
only merit based admissions.

Q2. Can we consider request for education loan in respect of Nursing Colleges
having provisional approval/recognition?

Ans. The Indian Nursing Council gives permission to Nursing colleges to start
new courses for a period of 1 year which is renewed on a yearly basis. The
practice of renewing the permission is done on a year-to-year basis for both the
existing nursing colleges as well as the new nursing colleges. Bank could
consider applications from student borrowers seeking education loan for
pursuing courses in these institutions which are having provisional
approval/recognition.

Q3. How to deal with requests for sanction of collateral free loans to more than
one student from the same family? Is the collateral free limit of Rs. 4.0 lakh for
a student or for a family as whole for the purpose of the scheme.

Ans. Repayment of the education loan is based on the future earning potential of
the student. Going by the spirit of the scheme, limit of Rs. 4.0 lakh collateral free
loan is student specific and not family specific. There is no restriction on giving a
second or third collateral free loan to other siblings when one of the siblings has
already taken a collateral free loan.
Q.4 How to consider request from students who have to stay outside the
college campus due to non availability of hostel accommodation?
Ans. Bank could consider reasonable lodging and boarding expenses, for the
purpose of fixing loan limit under the scheme, in case the student is not in a
position to get allotment for hostel accommodation within the campus and is
required to stay outside the campus in private accommodation.

Q5. Whether the repayment period could be extended at the request of the
borrower?

Ans. Extension of moratorium period or repayment beyond the time specified at
the sanction would amount to restructuring of the loan and will be governed by
the RBI guidelines on restructuring of advances. However, in case the student
takes up higher studies immediately upon completion of the course, the
commencement of repayment would get shifted to 6 months from the
employment or one year from completion of the course whichever is earlier
without treating the change as restructuring. This would be so irrespective of
whether the student had taken fresh/top up loan for higher studies or not.

Q6. Whether request received for sanction of loan to meet partial cost of
studying abroad can be considered?

Ans. It is not uncommon for students to take up part- time jobs as permitted by
the institutions where they are studying to part fund their education. So they will
not be taking loan for meeting entire cost of studies (usually amount mentioned
in I-20). Bank may sanction loan for meeting part cost as requested by students in
such cases.

Q7. Can the bank consider request for loan received from NRIs?

Ans. Requests received from NRIs can be considered if student is Indian passport
holder and they meet other eligibility requirements. However, it would be
necessary to accept as security any collateral which is enforceable in India.

Q.8. How the student will know whether the application for the loan has been
considered or rejected by the bank ?

Ans. The bank should communicate to the student about the sanction of the loan
in writing. Similarly, whenever loan applications of student borrowers are
rejected, bank should invariably record the reasons for rejection by the bank.

Q.9. Whether the means of the joint borrower has any relation to the
sanctioning of the loan to the student borrower ?

Ans. Education loan is not sanctioned based on the means of joint borrower who
is usually a parent or guardian. For loans up to Rs.4.00 lakhs, no collateral is
taken. For loans above Rs.4.0 lakhs and upto Rs.7.5 lakhs, the means of the joint
borrower will not a factor if acceptable third party guarantee is offered. Also,
security offered for loans above Rs.7.5 lakhs need not necessarily be belonging to
the joint borrower.

Q.10. How to consider license courses like Aircraft Maintenance
Engineering/Pre Sea training which are neither degree nor diploma, though
such courses are approved by authorities like DGCA without affiliating to any
university for award of degree ?

Ans. The Aircraft Maintenance Engineering / Pre Sea training courses must be
either a Degree Course recognized by a competent University or Diploma Course
recognized by appropriate State Body to be eligible for loan. The employability
of the students and employment potential of the courses selected has to be
considered while appraising the loan application.

Q.11. Whether vocational/skill development study courses, off-campus courses
and on-site / partnership programmes are eligible for education loan under the
IBA Model Educational Loan Scheme ?

Ans. Vocational / skill development study courses, off-campus courses and
onsite/partnership programmes are not eligible for loan under the IBA scheme.

Q.12.What are the eligibility requirements in respect of Diploma / PG Diploma
course for financing under studies abroad ?

Ans. Only degree / post graduation diploma courses pursued abroad are eligible
for sanction of loan under the IBA scheme.

Q.13.How to deal with cases where the joint borrower becomes defaulter after
sanction of education loan ?

Ans. The student loan will not be affected by any change in asset classification of
any separate bank borrowing of the joint borrower.

N.B. The command area/ jurisdiction of a branch will be in an area covered by
the radius of 10 k.m. from the branch. However, in exceptional cases, Branches
may sanction retail loans beyond their command area with prior permission of
the concerned RO with related mention in the processing note along with logic
for such sanction. It is further clarified that loan application will be accepted
by the Branch nearest to the permanent residence of parents with all
supporting documents for address.

Annexure-D
TOP TIER ENGINEERING COLLEGES
SI. No NAME OF COLLEGES LOCATION
Andhra Pradesh
1 AU College of Engineering Visakhapatnam
2 JNTU, Kakinada East Godavari
3 CBIT Hyderabad
4 SVU College of Engineering Tirupati
5 Vasavi College of Engineeing Rangareddy
6 Sri Nidhi Institute of Science and Technology, Ghatkesar Rangareddy
7 Gayatri Vidyaparshit College of Engineerig, Madhuravada Visakhapatnam
8 MVSR Engineering College, Nadhargul Visakhapatnam
9 VNR Vignan Jyothi Institute of Engineering and Technology Rangareddy
10 RVR and JC College of Engineering, Chodavaram Guntur
11 Gokaraju Rangaraju Institute Engineering & Technology, Miyapur Rangareddy
12 Sri Vidyanikethan Engineering College Tirupati
13 VR Siddartha Engineering College Vijayawada
14 Saagi Ramakrishna Raju Engineeing College (SRKR), Bhimavaram West Godavari
15 Mahathma Gandhi Institute of Technology, Gandipet Rangareddy
16 Anil Neerukonda Institute of Technology & Science, Bhimili Visakhapatnam
17 G.Naryanamma Institute of Technology & Science, Rayadurga Hyderabad
18 G.Pullareddy Engineering College Kurnool
19 Kakatiya Institute of Technology & Science, Hasanparti Warangal
20 CVR College of Engineering, Ibraheempatnam Rangareddy
21 The ICFAI Institute of Science & Technology Hyderabad
Chattisgarh
1 Bhilai Institute of Tech. Bhilai House, Durg Raipur
2 Chhatrapati Shivaji Institute of Technology, Shivaji Nagar Durg
3 Chouksey Engineering College Bilaspur
4 Govt. Engg. College Builaspur
5 Govt. Engg. College Jagdalpur
6 Govt. Engg. College Raipur
7 Institute of Technology, Guru Ghasidas University Bilaspur
8 Kirodimal Institute of Technology Raigarh
9 MP Chrisitian College of Engineering & Tech. Durg
10 Raipur Institute of Technology Raipur
11 Rungta College of Engg. & Technology Bhilai
12 Shri Shankaracharya College of Engineering & Technology Bhilai
New Delhi
1 Amity School of Engg. & Technology New Delhi
2 Bharti Vidyapeeth College of Engineering Paschim Vihar
3 Delhi College of Engg., Badli Kasmeri Gate
4 Ambedkar Institute of Technology, Dept. of Training & Tech. Education Shakarpur
5 Engineering College for Women, G.B. Pant Polytechnic Campus Okhla
6 Faculty of Engg. & Technology, Jamia Millia Islamia New Delhi
7 Guru Premsukh College of Engg.
G.T. Karnal
Road
8 Guru Teg Bahadur Institute of Technology Vasant Vihar
9 HMR Institute of Technology & Management Hamidpur
10 Maharaja Agrasen Inst. of Technology Sultanpuri
11 Maharaja Surajmal Institute Janakpuri
12 National Power Training Institute Badarpur
13 Netaji Subhash Institute of Technology Dwarka
14 Northern India Engineering College Shastri Park
Goa
1 Goa College of Engineering, Farmagudi North Goa
2
Agnel Charities (Agnel Seva Sangh) Padre Conceicao College of
Engineering
Verna Vill
Salcette
3 Shri Rayeshwar Institute of Engg. & Information Technology
Hill Top Karai
Shiroda
Gujrat
1 Atmiya Institute of Technology & Science Rajkot
2 Charotar Institute of Technology Anand
3 Dharamsingh Desai Institute of Technology Kheda
4 Government Engg. College Modasa
5 Govt. Engg. College Gandhi Nagar
6 Govt. Engg. College Kutch
7 LD College of Engineering Navrangpura Ahmeda-bad
8 MS Univ. of Baroda, Faculty of Technology & Engg. Baroda
9 Nirma Institute of Technology Ahmedabad
10 Sankalchand Patel College of Engg. Visnagar
11 Sardar Vallabhbhai Patel Institute of Technology Anand
12 Sarvajanik College of Dr. R.K. Desai Marg Surat
13 Shantilal Shah Engg. College, Bhavnagar Univ. Campus Bhavnagar
14 Shri SAd Vidya Mandals Institute of Technology Bharuch
15 UV Patel Engg. College
Ganpat
Vidyanagar
16 Parul Institute of Engg. & Technology, Vashodiya Vadodara
Haryana
1 Al-Falah School of Engg. & Tech. Faridabad
2 Anupama College of Engineering Gurgaon
3 Ambala College of Engineering and Applied Research. Ambala
4 Apeejay Engineering College of Engineering Sohana
5 BM Inst. of Engg. & Technology Sonepat
6 BRCM College of Engg. & Technology Bahal Bhiwani
7 BS Anagpuria Institute of Technology & Management Faridabad
8 College of Agricultural Engg. & Tech. Hissar
9 Department of Instru. Tech. Kurukshatra University Kurukshatra
10 Doon Valley Instt. of Engg. & Tech. Karnala
11 Guru Jambeshwar University Inst. of Engg. & Tech. Hissar
12 Haryana Engineering College, Old Chachroli Road Jagadhari
13 Institute of Tech. & Management Gurgaon
14 Lingayas Institute of Management & Technology Faridabad
15 YMCA Institute of Engg. Faridabad
16 Rajiv Gandhi Institute of Technology & Management Gurgaon
17 Seth Jai Parkaksh Mukand Lal Inst. of Engg. & Tech. Yamuna Nagar
Jharkhand
1 Bihar Institute of Tech. Dhanbad
2 Bokaro Instiute of Technology Bokaro
3 Cambridge Institute of Technology Ranchi
4 Regional Institute of Technology Jamshedpur
5 Alice Institute of Technology Ranchi
Jammu &
Kashmir
1 Govt. College of Engg. & Tech. Cannal Road, Jammu Tawi
2 National Institute of Technology, Hajrat Bal, Srinagar
3 Model Institute of Engg. Tech. Jammu
4 SSM College of Engineering Baramulla
5 MBS College of Engg. & Tech. Jammu
Karnataka
1 PES College of Engg. Mandya
2 PES Institute of Technology Bangalore
3 PA College of Engg. Mangalore
4 SDM College of Engg. & Technology Dharwad
5 SCT Institute of Technology Bangalore
6 Siddaganga Institute of Technology Tumkur
7 Sri Siddhartha Institute of Technology Tumkur
8 Sri Venkateshwara College of Engg. Bangalore North
9 Vemana Institute of Technology Bangalore
10 Vidya Vardhaka College of Engg. Mysore
11 KNS Institute of Technology Bangalore
12 KLE Societys College of Engineering Udyambag
13 Kristu Jayanti College of Management & Technology Bangalore
14 Bangalore Institute of Technology Bangalore
15 Malnad College of Engineering Hassan
16 Maratha Mandals Engg. College Belgaum
17 MS Ramaiah Institute of Technology Bangalore
18 JSS Academy of Technical Education Bangalore
19 East West Institute of Technology Bangalore
20 Ghousia College of Engg. Bangalore
21 Don Bosco Institute of Technology Bangalore
22 Bahubali College of Engg. Gommatanagar
23 Bangalore College of Engg. Bangalore
24 BMS Institute of Technology & Management Bangalore
25 Canara Engg. College Benjanapadavu
26 CMR Institute of Technology Bangalore
27 BNM Institute of Technology Bangalore
28 AMC Engg. College Bangalore
Manipur
1 Government College of Technology Imphal

Meghalaya
1 Shillong Engg. & Management College Shillong

Mizoram
1 Mizoram Engineering College Maunual
Madhya Pradesh
1 Gyan Ganga Institute of Technology Jabalpur
2 Bansal Institute of Science & Technology Bhopal
3 Vindhya Institute of Technology & Science Amoudha
4 Ujjain Engg. College, Sanwer Road Ujjain
5 Sri Satya Sai Institute of Science & Tech. Sehore
6 Rishiraj Institute of Technology Indore
7 Bhopal Engg. College Bhopal
8 Bhopal Institute of Technology & Science Bangrasia
9 Samrat Ashok Tech. Institution Vidisha
10 Govt. Engineering College Rewa
11 Shri G.S. Inst. of Tech. & Science Indore
12 Shri Ram Institute of Technology Jabalapur
13 Guru Ramdas Khalsa Instt. of Science & Technology Jabalpur
14 Govt. Engineering College, Rewa
15 Mandsaur Institute of Technology Mansaur
16 Oriental Instt. of Sc. & Tech. Bhopal
17 Jabalpur Engg. College Jabalpur
18 Jawaharlal Institute of Technology Khargone
19 Laxminarayan College of Tech. Bhopal
20 Madhav Instt. of Tech. & Science Gwalior
21 Institute of Engg. Jiwaji University Gwalior
22 Institute of Engg. & Technology Indore
23 All Saints College of Technology Bhopal
24 Bansal College of Engg. Mandideep
25 Govt. Engineering College Jabalpur
26 Gwalior Engg College Gwalior
27 Hitkarni College of Engg. Tech. Jabalpur
28 Indira Gandhi Engg. College Baheria

Maharashtra
1 Bharatiya Vidya Bhavans Sardar Patel College of Engg. Munshi Nagar
2 Don Basco Institute of Technology Mumbai
3 Army Institute of Technology Pune
4 Dr. D.Y. Patil Coll. of Engg. Pimpri
5 Govt. Coll. of Engg. Aurangabad
6 Govt. Coll. of Engg.
Karad
Vidhyanagar
7 Govt. Coll. of Engg. Chandrapur
8 Govt. Coll. of Engg. Amaravati
9 Govt. College of Engg. Jalgaon
10 Maharashtra Institute of Technology Aurangabad
11 Dhole Patil College of Engineereing Pune
12 Shri Ramdeo Baba Kamla Nehru Engg. Coll. Nagpur
13 Sardar Patel College of Engineering Mumbai
14 College of Engineering Pune
15 Agrawal Institute of Management & Technology Nashik
16 Bharatratan Indira Gandhi College of Engineering Solapur
17 Vishwakarama Instt. of Information Technology Pune
Orissa
1 Trident Academy of Technology Bhubaeswar
2 Krupajala Engineering College Bhubaeswar
3 NMIET Bhubaeswar
4 Eastern Academy of Science and Technology Bhubaeswar
5 National Institute of Science and Technology(NIST) Berhampur
6 Majhighariani Institute of Tech. & Science (MITS) Bhujabal
7 National Institute of Science & Tech. Berhampur
8 Orissa Engg. College Bhubaneswar
9 Orissa School of Mining Engg. Keonjhar
10 Silicon Institute of Tech. Bhubaneswar
11 Institute of Tech. Edu. & Research Khandagiri
12 C.V. Raman College of Engg. Bhubaneswar
13 College of Engg. & Tech. Orissa University of Agriculture & Tech Bhubaneswar
14 College of Engg. Bhubaneswar
15 Dhaneshwar Rath Instt. of Engg. & Mgt. Studies Cuttack
16 Gandhi Institute of Engg. & Tech. Gunupur
17 University College of Engg. Sambalpur
18 Gandhi Engineering College Bhubaneswar
19 Gandhi Institute of Technological Advancement Bhubaneswar
20 Kalinga Institute of Industrial Technology Bhubaneswar
Himachal Pradesh
1 Institute of Engineering & Emerging Technology (HPU) Solan
2 Jaypee Instt of Information Tech Solan
3 University Institute of Information Technology (HPU) Shimla
Punjab
1 IIT, Ropar Rupnagar
3 Thapar University Patiala
4 Guru Nanak Dev Engg. College Ludhiana
5 Chitkara Institute of Engg & Tech Chandigarh
6 Chandigarh College of Engineering and Technology Chandigarh
Rajasthan
1 IIT, Jodhpur Jodhpur
2 LNMIIT Jaipur
3 Mody Institute of Tech & Science Lakshmangarh
4 Jaipur National University Jaipur
5 SPS University Udaipur
6 Engineering College, Bikaner Bikaner
7 Jai Narayan Vyas University(Fac of Engg) Prev: MBM Engg Jodhpur
8 Poornima College of Engineering Jaipur
9 Swami Keshvanand Inst. of Tech Ramnagaria
10 Jodhpur Institute of Engg.& Tech Luni
11 Banasthali Vidyapith Banasthali
12 Jaipur National University Jagatpura
Tripura
1 ICFAI University Tripura
2 NIT, Agartala Agartala
Uttarakhand
1 College of Technology Pantnagar
2 Uttaranchal Institute of Technology Dehradun
3 Doon College of Engineering & Technology Dehradun
4 Amrapali Institute of Technology and Science Nainital
5 Birla Institute of Applied Sciences Nainital
6 College of Engineering Roorkee
7 Faculty of Engg & Tech,GKV Haridwar
8 Dehradun Institute of Technology Dehradun

Assam
1 Tezpur University Tezpur
2 NIT, Silchar Silchar
3 Jorhat Engineering College Dibrugarh
4 Assam Engineering College, Guwahati University Guwahati
Kerala
1 NIT, Calicut Calicut
2 Govt. Engineering Colleges Trivandrum
3 Model Engineering College Cochin
4 TKM College of Engineering Kollam
5 Govt. Engineering Colleges Trichur
6 MAC Kothamangalam
7 Govt. College of Engineering Kannur
8 RIT, Govt. Engineering College Kottayam
9 NSS Palakkad
Pondicherry
1 NIT Puducherry
2 Rajiv Gandhi College of Engineering & Technology Ponicherry
3 Bharathiyar College of Engineering and Technology Karaikal
4 Dr SJS Paul Memorial College of Engineering and Technology Pondicherry
5 Government of Puducherry - CENTAC Pondicherry
6 Manakula Vinayagar Institute of Technology Pondicherry
7 Pandit Jawaharlal Nehru College of Agriculture and Research Institute Karaikal
8 Perunthalaivar Kamarajar Institute of Engineering and Technology Karaikal
9 Pondicherry University - Faculty of Engineering Pondicherry
10 Regency Institute of Technology Yanam
11 Sri Ganesh College of Engineering and Technology Pondicherry
12 St Johns Post Graduate Institute of Information Technology Pondicherry
13 Christ College of Engineering and Technology Pondicherry
14 Pondicherry Engineering College Pondicherry
Goa
1 Institute of Shipbuilding Technology South Goa
2 National Institute of Technology - Goa South Goa
3 Padre Conceicao College Of Engineering South Goa
4 Shri Rayeshwar Institute of Engineering and Information Technology South Goa
5
Agnel Charities(Agnel Seva Sangh) Padre Conceicao College Of
Engineering South Goa
6 Shri Rayeshwar Institute Of Engineering & Information Technology South Goa
7 Goa College of Engineering South Goa
Tamil Nadu
1 NIT, Tiruchirapalli Tiruchirapalli
2 IIIT D&M Kancheepuram
3 Avinashilingam Institute of Home Science & Higher Education Coimabtore
4 St. Josephs College of Engg. Chennai
5 K. S. Rangasamy College of Tech. Namakkal
6 Kalasalingam Academy of Research and Higher Education Srivilliputhur
7 M.G.R. Educational and Research Institute Chennai
8 Periyar Maniammai Institute of Science & Technology (PMIST) Vallam
9 Ponnaiyah Ramajayam Institute of Science & Technology (PRIST) Thanjavur
10 Sathyabama Institute of Science and Technology Chennai
11 St. Peter's Institute of Higher Education and Research Chennai
12 Shanmugha Arts, Science & Technology Thanjavur
13 Kalasalingam University Virudhnagar
14 SCSVM Kancheepuram
15 College of Engg, Anna University Chennai
16 Thiagarajar College of Engg Madurai
17 PSG College of Technology Coimbatore
18 Amrita College of Engineering Coimbatore
19 SRM Valliammai Engg College Kattankulathur
20 Easwari Engineering College Chennai
21 B.S.A Crescent Engg College Chennai
22 Panimalar Engineering College Thiruvallur
23 Sairam Engg College, Chennai Chennai
24 Bannari Amman Institute of Tech Erode
25 Dr. Mahalingam College of Engineering and Technology Coimbatore
26 Kongu Engineering College Erode
27 Rajalakshmi Engg Coll, Chennai Kancheepuram
28 Sri Venkateswara College of Engg Chennai
29 K. C. G. College of Technology Chennai
30 Government College of Engg. Salem
31 Mepco Schlenk Engg. College Virudhunagar
32
33
Sikkim
1 NIT South Sikkim
2 Advanced Technology nical Training Centre East Sikkim
3 Centre for Computers and Communication Technology South Sikkim
4 Manipal Institute of Technology East Sikkim
5 Sikkim Manipal Institute Of Technology East Sikkim
6 Sikkim Manipal University - Faculty of Engineering East Sikkim
West Bengal
1 Asansol Engineering College Asansol
2 B. P Poddar Institute of Engineering & Technology Kolkata
3 Bengal College of Engineering & Technology Durgapur
4 Birbhum Institute of Engineering & Technology Birbhum
5 Calcutta Institute of Technology Kolkata
6 College Of Engg. & Management Kolaghat
7 Dr BC Roy Engineering College Durgapur
8 Durgapur Inst of Advanced Tech & Mngt Durgapur
9 Government College of Engineering & Textile Technology Murshidabad
10 Government College of Engineering Ceramic Technology Kolkata
11 Haldia Institute Of Technology Haldia
12 Heritage Institute of Technology Kolkata
13 Institute of Engineering & Management Kolkata
14 Jalpaiguri Government Engineering College Jalpaiguri
15 JIS College of Engineering Kalyani
16 Mallabhum Inst Of Technology Bankura
17 MCKV Institute of Engineering, Liluah Howrah
18 Megnad Saha Instt. Of Technology Kolkata
19 Murshidabad College of Engineering & Technology Murshidabad
20 RCC Institute of Information Technology, Beliaghata Kolkata
21 Regional Engineering College Durgapur
22 Saroj Mohan Institute Of Technology Guptipara
23 Siliguri Institute of Technology Sukhana
24 St Thomas' College of Engineering & Technology,Alipore Kolkata
25 Techno India Kolkata
26 University Institute of Technology Burdwan
27 University of Kalyani Kalyani
28 Future Institute of Engineering & Management Kolkata
29 Greater Kolkata College of Engineering & Management Kolkata
30 Narula Institute of Technology Kolkata
31 Gurunanak Institute of Technology Kolkata

TOP TIER BUSINESS SCHOOL
SI.
No NAME OF COLLEGES LOCATION
1 Goa Institute of Management Goa
2 Department of Management Studies, University of Madras Chennai
3 Indian Institute of Social Welfare and Business Management Kolkata
4 Vignana Jyothi Institute of Management Secunderabad
5 Graduate School of Business and Administration Noida
6 Prestige Institute of Management and Research Indore
7 ITUC School of Management Hyderabad
8 Institute of Productivity and Management Ghaziabad
9 School of Management Pondicherry
10 Institute of Management Development & Research Pune
11 Jaipuria Institute of Management Lucknow
12 BPHE's Institute of Management Studies, Career Devt & Research Ahmednagar
13 M.S. Patel Institute of Management Studies Baroda
14 Department of Business Administration, VIT Business School Vellore
15 BK School of Business of Management Ahmedabad
16 Institute of Management in Kerala Thiruvananthapuram
17 School of Communication & Management Studies Cochin
18 Punjab School of Management Studies, Punjabi University Patiala
19 Department of Business Administration Guwahati
20 SDM Institute for Management Development Mysore
21 Pt. Jawaharlal Nehru Institute of Business Management Ujjain
22 Badruka College Hyderabad
23 G.H. Patel PG Institute of Business Management, Vallabh Vidya Nagar Gujarat
24 Institute of Management Studies, Devi Ahilya University Indore
25 University Business School Chandigarh
26 IIAM Vizag
27 Army Institute of Management Kolkata
28 R.A. Podar Institute of Management Jaipur
29 SMIS, Sri Venkateswara University Tirupati
30 Sri Sringeri Sharada Institute of Management New Delhi
31 Christ University Institute of Management Bangalore
32 Vaikunth Mehta National Institute of Cooperative Management Pune
33 Institute of Public Enterprise (IPE) Hyderabad
34 Bharathidasan Institute of Management Tiruchirapalli
35 Institute of Technology and Science(for PGDM) Ghaziabad
36 University Department of Management Sciences Pune
37 ICFAI Business School Hyderabad
38 IILM New Delhi
39 School of Management Studies Hyderabad
40 Bharathiar School of Management and Entrepreneurship Development Coimbatore
41 ITM Mumbai
42 Amity Business School Noida
43 Shiva Shivani Institute of Management Hyderabad
44 Kousali Institute of Management Studies Dharwad
45 Sri Siddhartha Institute of Management Studies Tumkur
46 Rajagiri School of Management Kerala
47 Abdul Qadir Jeelani Centre for PG Studies Vishakapatnam
48 Institute of Finance and International Management Bangalore
49 AV College Hyderabad
50 Vasantrao Patil Institute of Management Studies and Research, Miraj
51 Institute of Productivity and Management, Meerut
52 KLS Institute of Management Education and Research, Belgaum
53 Mt. Carmel Institute of Management, Bangalore
54 Amrita Institute of Management Coimbatore
55 EMPI New Delhi
56 Assam Institute of Management Guwahati
57 Xavier's Institute of Social Service Ranchi
58 Sinhgad Institute of Management Pune
59 Institute of Science and Management Pudang, Ranchi
60 Balaji Institute Of Modern Management Pune
61 Pendekanti Institute of Management Hyderabad
62 Ambedkar Institute of Management Studies Visakhapatnam
63 Department of Management Studies IIT Roorkee
64 Bharati Vidyapeeth's Institute of Management Mumbai
65 Amjad Ali Khan College of Business Administration Hyderabad
66 Dr. Gaur Hari Singhania Institute of Management Kanpur
67
Department of Management,Babasaheb Ambedkar Marathwada University
Aurangabad
68 N.L. Dalmia Institute of Management Studies and Research Mumbai
69 Jagan Institute of Management Studies Delhi
70 Indian Institute Of Rural Management Jaipur
71 New Delhi Institute Of Management New Delhi
72 Birla Institute of Management Technology New Delhi
73 Institute of Productivity & Management Ghaziabad
74 Institute for Technology & Management Chennai
75 Institute for Technology & Management Bangalore
76 Institute of Management Studies Noida
77 Aravali Institute of management Jodhpur
78 Institute of Technology & Science Ghaziabad
79 Fore School Of Management New Delhi
80 Bharatiya Vidya Bhavan Kolkata
81 Globsyn Business School Kolkata
82 Institute of Engineering & Management Kolkata
83 Heritage Institute of Technology Kolkata
84 Centre for Management Studies-JIS College of Engineering Kolkata
85 Future Business School Kolkata
86 Institute of Management & Information Science Bhubaneswar
87 Department of Business Administration Bhavnagar
88 Xavier Institute of Management & Entrepreneurship Bangalore
89 Department of Business Administration Aligarh
90 Great Lakes Institute of Management Chennai
91 University Business School, Punjab University Chandigarh
92 Indira Institute of Management Pune
93 KIIT School of Management Bhubaneswar
94 Indian School of Mines University Dhanbad
95 Institute of Business Management & Technology Bangalore
96 National Institute of Technology, Warangal (NIT-W) Warangal
97 Xavier Institute of Social Services Ranchi
98 Motilal Nehru National Institute of Technology Allahabad
99 NIILM Centre of Management Studies Delhi
100 Department of Management Studies, REC Tiruchirapalli
101 Dept. of Business Management, Osmania University Hyderabad
102 National Institute of Agriculture Extension Management Hyderabad
103 PSG Institute of Mannagement Coimbatore
104 Maulana Azad National Institute of Technology Bhopal
105 Indian Institute of Information Technology Allahabad
106 Jawaharlal Nehru Technological University Hyderabad
107 BLS Institute of Management New Delhi
108 Sri Siddhartha Institute of Management Studies Tumkur
110 School of Business Management, Sri Venkateswara University Tirupati
111 Christ College Institute of Management Bangalore
113 Institute of Management in Kerala Thiruvananthapuram
114 National Institute of Industrial Engineering Mumbai
115 University of Business School Chandigarh
116 Sydenham Institute of Mgmt Studies & Research Mumbai
117 Lal Bahadur Shastri Institute of Management New Delhi
118 Institute of Rural Management Anand
119 Regional College of Management Bhubaneswar
120 Loyala Institute of Business Administration Chennai
121 Symbiosis Institute of International Business Pune
122 Institute for Financial Management & Research Chennai
123 Asia Pacific Institute of Management New Delhi
124 Dept. Of Management Science, Pune University Pune
125 Rourkela Institute of Management Studies Rourkela
126 Indian Institute of Health Management & Research Jaipur
127 Master School of Management Meerut
128 Symbiosis Centre for Management & HRD Pune
129 Institute of Business Administration & Training Bhubaneswar
130 Bharathidasan Institute of Management (BIM) Tiruchirapalli
131 Alliance Business Academy Bangalore
132 K J Somaiya Institute of Management Mumbai
133 Nirma Institute of Management Ahmedabad
134 Tata Institute Of Social Sciences Mumbai
135 Eastern Institute for Integrated Learning and Management Kolkata

TOP TIER MEDICAL COLLEGES
SI. NO NAME OF COLLEGES LOCATION
Andhra Pradesh
1
Andhra Medical College
Vishakapattanam
2
Bhaskar Medical College
Yenkapally
4
Deccan College of Medical Sciences
Hyderabad
5
Gandhi Medical College
Hyderabad
6
Government Medical College
Anantapur
7
GSL Medical College
Rajahmundry
8
Guntur Medical College
Hyderabad
9
Kakatiya Medical College
Warrangal
10
Kamineni Institute of Medical Sciences
Narketpally
11
Katuri Medical College
Guntur
12
Konaseema Institute of Medical Sciences & Research Foundation
Amalapuram
13
Kurnool Medical College
Kurnool
14
Maharajah's Institute of Medical Sciences
Vizianagaram
15
Mamata Medical College
Khammam
16
Medicity Institute Of Medical Sciences
Hyderabad
17
MNR Medical College
Sangareddy
18
Narayana Medical College
Sasaram
19
NRI Medical College
Guntur
20
Osmania Medical College
Hyderabad
21
P E S Institute Of Medical Sciences and Research
Kuppam
22
P.S.I. Medical College
Chinoutpalli
23
Prathima Institute Of Medical Sciences
Karimnagar
24
Rangaraya Medical College
Kakinada
25
S V Medical College
Tirupati
26
S V S Medical College
Yenugonda
27
Sadan Institute of Medical Sciences
28
Research Centre and Teaching Hospital
Hyderabad
29
Siddhartha Medical College
Vijayawada
30
Vardhman Medical College/Chalmeda Anand Rao Instt. Of Med.
Sciences
Karimnagar
Assam
1
Silchar Medical College
Silchar
2
Assam Medial College
Dibrugarh
3
Guwahati Medical College
Guwahati
Bihar
1
Katihar Medical College
Katihar
2
Mata Gujri Memorial Medical College
Kishanganj
3
Shri Krishna Medical College
Muzaffarpur
4
Darbhanga Medical College
Laheriasarai
5
A N Magadh Medical College
Gaya
6
Nalanda Medical College
Patna
7
Patna Medical College
Patna
8
Jawaharlal Nehru Medical College
Belgaum
Chandigarh
1 Government Medical College Chandigarh
Delhi
1 Faculty of Medical Sciences Delhi
2
Maulana Azad Medical College & GB Pant Hospital
New Delhi
3
Vardhman Mahavir Medical College & Safdarjung Hospital
South Delhi
Goa

1 Goa Medical College Goa
Gujarat
1
Bhavnagar
2
Kesarsal Medical College & Research Institute
Gujarat
3
SBKS Medical Instt. & Research Centre
Vadodara
4
Medical College
Baroda
5
Pramukhswami Medical College
Gujarat
6
CU Shah Medical College
Surendranagar
7
MP Shah Medical College
Jamnagar
8
Pandit Deendayal Upadhyay Medical College
Rajkot
9
Surat
10 Swami Vivekakand Institute Of Medical Sciences & Research Valia
Haryana
1
Maharishi Markandeshwar Institute Of Medical Sciences & Research
Ambala
2
Pt. B D Sharma Postgraduate Institute of Medical Sciences
Rohtak
3
Maharaja Agrasen Medical College
Hisar
Himachal
Pradesh

Dr. Rajendar Prasad Government Medical College
Kangra

Indira Gandhi Medical College
Shimla
Jammu &
Kashmir
1
Sher-I-Kashmir Instt. Of Medical Sciences
Srinagar
2
Jammu
3
Srinagar
Jharkand
1
M G M Medical College
Kishanganj
2
Rajendra Institute of Medical Sciences
Jharkhand
3
Patliputra Medical College
Dhanbad
Karnataka
1
Kasturba Medical College
Mangalore
2
A J Institute of Medical Sciences & Research Centre
Mangalore
3
Adichunchanagiri Institute of Medical Sciences
Bangalore
4
Al-Ameen Medical College
Bijapur
5
B L D E A s Shri B M Patil Medical College, Hospital & Research
Centre
Bijapur
6
Bangalore Medical College
Bangalore
7
Basaveswara Medical College and Hospital
Chitradurga
8
Dr BR Ambedkar Medical College
Bangalore
9
Govt. Medical College
Mysore
10
JJM Medical College
Davangere
11
K S Hegde Medical Academy
Mangalore
12
K V G Medical College
Karnataka
13
Karnataka Institute of Medical Sciences
Karnataka
14
KLE Society's Jawaharlal Nehru Medical College
Belgaum
15
M S Ramaiah Medical College
Bangalore
16
Mahadevappa Rampure Medical College
Karnataka
17
MVJ Medical College and Research Hospital
Bangalore
18
Navodaya Medical College
Raichur
19
SDM Medical College
Dharwad
20
Sri Devaraj URS Medical College
Kolar
21
Sri Siddhartha Medical College
Tumkur
Kerala

1
Amala Institute of Medical Sciences
Thrissur
2
Trissur
3
Calicut
4
Academy of Medical Sceiences,Pariyaram
Kannur
5
Medical College Thiruvananthapuram

6
Kottayam
Madhya
Pradesh
1
Shyam Shah Medical College
Rewa
2
Gandhi Medical College
Bhopal
3
M G M Medical College
Indore
4
Shri Aurobindo Institute of Medical Sciences
Indore
5
Netaji Subash Chandra Bose Medical College
Jabalpur
Maharastra
1
Govt Medical College
Akola
2
Deshmukh Memorial Medical College
Amravati
3
Bharati Vidyapeeth Medical College
Pune
4
KJ Somaiyya Medical College & Research Centre
Mumbai
5
Aurangabad
6
Kohlapur
7
Latur
8
Nagpur
9
Indira Gandhi Medical College & Hospital
Nagpur
10
Swangi
11
Mahatma Gandhi Institute of Medical Sciences
Sevagram
12
Maharashtra Institute of Medical Education & Research
Pune
13
Miraj
14
Nanded
15
Maharashtra Institute of Medical Sciences & Research
Latur
Manipur
1 Regional Institute of Medical Sciences Imphal
Orissa
1
MKCG Medical College
Berhampur
2
SCB Medical College
Utkal
Pondicherry
1
Mahatma Gandhi Medical College & Research Institute
Pondicherry
2
Pondicherry Institute of Medical Sciences & Research
Pondicherry
3
Vinayak Mission's Medical College
Karaikal
Punjab
1
Christian Medical College
Ludhiana
2
Dayanand Medical College & Hospital
Ludhiana
3
Amritsar
4
Patiala
Rajasthan
1
Dr SN Medical College
Jodhpur
2
Kota
3
Ajmer
4
Mahatma Gandhi National Institute of Medical Sciences
Sevagram
5
National Institute of Medical Science & Research
Jaipur
6
Sardar Patel Medical College
Bikaner
7
SMS Medical College
Jaipur
Sikkim
1 Sikkim Manipal Institute of Medical Sciences Sikkim
Tamil Nadu
1
Chennai Medical College
Trichy
2
Christian Medical College
Vellore
3
Coimbatore Medical College
Coimbatore
4
K A P Viswanathan Government Medical College
Trichy
5
Kanyakumari Government Medical College
Asaripallam
6
Kilpauk Medical College
Chennai
7
Madurai Medical College
Madurai
8
PSG Institute of Medical Sciences
Coimbatore
9
Sree Balaji Medical College and Hospital
Chennai
10
Thoothukudi Medical College
Thoothukudi
11
Tirunelveli Medical College
Tirunelveli
12
Variyar Medical College
Salem
13
Rajah Muthiah Medical College
Annamalainagar
14
SRM Medical College Hospital & Research Centre
Kancheepuram
Uttar
Pradesh
1
Aligarh
2
Moti Lal Nehru Medical College
Allahabad
3
Institute of Medical Sciences, BHU
Varanasi
4
Maharani Laxmi Bai Medical College
Jhansi
5
LLRM Medical College
Meerut
6
Santosh Medical College
Ghaziabad
7
GSVM Medial College
Kanpur
8
S N Medical College
Jodhpur
9
BRD Medical College
Gorakhpur
Uttaranchal
1
Himalaya Institute of Medical Sciences
Dehradun
West
Bengal
1
RG Kar Medical College
Kolkata
2
Calcutta National Medical College
Kolkata
3
Medical College
Kolkata
4
Shett Sukhlal Karnani Memorial(P.G) Hospital
Kolkata
5
Nilratan Sircar Medical College
Kolkata
6
North Bengal Medical College
Darjeeling
7
Burdwan Medical College
Burdwan

Annexure-E

Contents of H.O. Circular No. RBD/UEL/ 30/OM- 0492/11-12 dated 21
st
Nov. 2011

Subject : Extension of United Education Loan under management quota

Bank has issued detailed guidelines on revision of United Educational Loan Scheme vide
H.O. Circular No. RBD/UEL/26/OM-381/11-12 dated 20
th
September, 2011, in terms of
IBA communication on modification of Model Education Loan Scheme for pursuing
higher Education in India and Abroad. It was clarified that any loan considered for
students getting admission under management quota would be outside the present model
scheme of Education Loan of the Bank.

Management seats or management quota refers to the seats in private education
institutions for which the management has discretion to give admission on factors other
than merit. Normally for the management seats the only requirement is passing of the
qualifying examination with certain minimum stipulated marks. Hence it is logical to
interpret that these seats do not qualify for being called meritorious.

In view of the IBA communication on extension of education loan to the students getting
admission under management quota, a separate guideline on security for delivery of
education loan is prepared.

For the purpose of this scheme higher education is defined as studies taken up after
completion of higher secondary school i.e ten plus two stage. The Bank will be financing
the students depending on the employability of the course and reputation of the
institution.
The details of the modified scheme for extension of loan under management quota, is
provided herein.

Eligibility:
Indian national having secured admission in professionals/technical courses
through management quota in India and Abroad in approved courses under clause
3 of H.O. Circular No. RBD/UEL/26/OM-381/11-12 dated 20
th
Sept. 2011.

All other terms and conditions shall govern in terms of aforesaid H.O. Circular
excepting the following :
Security:
Loan to be sanctioned against security to cover entire loan amount either by liquid
security in the form of Banks own Term Deposit/ NSCs/ KVPs/ S.V. of LIPs etc.
(subject to adherence to stipulated margin) or by way of mortgage of property in
the name of parents (father / mother) only [who will be required to join as co-
borrower],.
In case of LIPs the surrender value is to be kept on record and loan amount not
exceeding 90% of such value shall be considered to rank the value of security of
loan.
In case of Banks own Term Deposits/ NSCs / KVPs, it has to be ensured that
TDs are renewed till such time loan remains outstanding and on maturity of NSCs
/ KVPs / LIPs etc. proceeds should be transferred for opening Term Deposits in
the name of borrowers and shall be kept under Banks lien. It should be ensured
that outstanding amount of loan is fully covered at all times during the pendency
of loan. The security should be adjusted in case of need after giving due notice to
the borrower(s).
In case of mortgage of property, margin to be maintained at 25% of the value of
property and it has to be ensured that the property is having legally enforceable
title to create equitable mortgage in favour of the Bank. While getting search and
marketability report from the lawyer the Branch should examine that the lawyer
has mentioned that action under SARFAESI Act is available on the charged
property.
Valuation of the property should be done in terms of Banks guidelines.
In all cases Co-obligation of parents together with collateral security as stated
shall be obtained
In all cases assignment of future income of the student shall be insisted.
Quantum of Loan : The amount of education loan provided to the students under
management quota shall be minimum of Rs. 5 lakh (Maximum amount as stipulated
vide H.O. Circular No. RBD/UEL/26/OM-381/11-12 dated 20
th
September, 2011) .

Rate of Interest:
As per interest rates under United Education Loan Scheme
Concession : (a)0.50% concession in ROI for girl students.
(b)1.00% concession in ROI if interest is serviced regularly during moratorium
period.
Interest Subsidy shall not be available

Repayment Period : Maximum 5 years irrespective of loan amount, after completion of
moratorium period ( course period plus 1 year, or 6 months after getting job whichever is
earlier).

Branches often receive proposals from the employed persons for study of MBA or similar
courses duly nominated by the employer. The proposals shall be disposed of in terms of
the aforesaid guidelines. In all such cases, the repayment of EMIs shall be ensured from
the employer either through deduction from pay bill or from the salary disbursement
account maintained with the branch. No moratorium period shall be allowed. In the event
terminal benefits are attached, the sanctioning authority may consider to waive insistence
of security.

Children/wards of the employees of the bank are also eligible to avail of this facility.

All concerned are advised to carefully note the above guidelines and act accordingly.

Sd/-
Dy. General Manager
(Retail Assets)

Annexure - F

Contents of H.O. Circular No.RBD/UEL/37/OM-0567/11-12 dated 23
rd
Dec. 2011

Sub : Execution of Term Loan Agreement under Banks Education Loan Scheme

Bank issued detailed guidelines on revised United Educational Loan Scheme vide H.O.
Circular No. RBD/UEL/26/OM-381/11-12 dated 20
th
September, 2011, in terms of IBA
communication on modification of Model Education Loan Scheme for pursuing higher
Education in India and Abroad. It was clarified that any loan considered for students
seeking admission under management quota would be outside the present model scheme
of Education Loan of the Bank, for which a separate guideline for extension of Education
Loan under management quota was issued vide H.O. Circular No. RBD/UEL/30/OM-
0492/11-12 dated 21
st
November, 2011.

Education loan is extended with repayment clause on specific term basis. The borrowers
are required to execute term loan document after knowing terms of contract with the
Bank with regard to loan they avail. So long there was no laid down guidelines for
execution of Term Loan Agreement by the borrowers under the scheme. The terms and
conditions as embodied in the term loan agreement shall be binding upon the student
borrower and the co-borrowers and in the event the Bank wants to take recourse of law
for recovery of dues, especially in case of study abroad, it will of great help to the
financing Branch.

Document to be taken by Branch in addition to D.P. Note & other related
documents:

Agreement for Term Loan under United Education Loan Scheme to be executed by
the Student and Parents / Guardians.

This is to be stamped as per Stamp Act of the State.

The text of the Agreement provided in Annexure I shall be applicable for all Education
Loans of the Bank.

All concerned are advised to note the contents of the circular and act accordingly.

Sd/-

Dy. General Manager
(Retail Assets)

Annexure-I
(To be stamped as an agreement as per Stamp Act of the State where executed)

EDUCATIONAL LOAN AGREEMENT

This Memorandum of agreement made at ___________on ______day of________ in
the year 20______

Between
(1)Mr./Ms_________________ son/ daughter /wife of________________ aged about
__ (2)Mr./Ms_________________son/ daughter /wife of________________ aged
about __ (3)Mr./Ms_________________son/ daughter /wife of ________________
aged about __ years residing at
_______________________________________________ called The Borrowers
(which expression shall unless it be repugnant to the context there of shall include
his/her heirs, executors, administrators, legal representatives and assignees)

AND
United Bank of India, a body corporate constituted under the Banking Companies
(Acquisition and Transfer of Undertakings) Act, 1970 and having its Head Office at 11,
Hemanta Basu Sarani, Kolkata 700 001 and a Branch Office amongst other places at
__________________ hereinafter called The Bank (which expression shall unless it be
repugnant to the subject or context thereof include its successors and assignees).

WHEREAS

I. The Borrower(s) has/have applied to the Bank for a loan / advance of
Rs........................... under the United Education / Superb Education Loan Scheme of the
Bank and has / have agreed to avail the loan under the said Scheme of the Bank.

II. The Bank at the request of the borrower(s) has advanced / has agreed to advance
Rs.......................... as mentioned in the schedule-I of this agreement under the above
education loan scheme of the Bank upon the terms and conditions set forth in these
present as well as in the sanction letter upon execution of security documents.

III. The borrower(s) further declares that he/she has understood all the terms and
conditions relating to the sanction of his/her loan and agrees to abide by the same and
also by the rules and regulations / guidelines which may be issued in future from time to
time in this regard and in the event of failure of the borrower(s) to do so, the Bank will
have a right to recall the advance.

IV. For securing the aforesaid loan of Rs. ................with interest, cost and other
charges it is intended that the flat/house /land/properties which is mortgaged in favour of
the Bank as mentioned in the security documents executed by the borrower(s) and
personal guarantee of the guarantors and assignment of income of the borrower(s) shall
remain charged in favour of the Bank as security for payment of the said amount.

NOW THIS DEED WITNESSETH AND IT IS HEREEBY AGREED BETWEEN The
Bank and the Borrower/s as follows;

1. The borrower's proposal together with the letter of sanction communicated to
him/her/them by the Bank shall be deemed to consitute the basis of this agreement for the
loan to be advanced by the Bank hereunder and the Borrower(s) hereby warrants the
correctness of each and every one of the statements and particulars therein contained and
undertakes to carry out the proposals therein set forth.

2. The borrower(s) hereby agree(s) that the said advance shall be governed by the
terms contained herein as well as those embodied in the security documents. The
borrower(s) further agrees that he / she/ they will also abide by the terms and conditions
of the sanction of loan communicated to him / her / them for such loan which are in force
and to be revised / amended / added from time to time by the Bank / RBI / Govt. of India
/ State Government.

3. The disbursement of the amount of the loan shall be at the absolute discretion of
the Bank and shall be co-related with the actual progress made in the study of the student
borrower. Such disbursement shall be made by means of banker's cheques / electronic
transfer drawn in favour of educational institute to whom the student borrower / Bank
desires and gives necessary instructions to make payment for the purpose of payment of
tution fees, caution deposit, library fees, hostel fees etc. and purchase of laptop, other
staturoty payments etc. At the discretion of the Bank and at the request of the borrower,
the Bank may credit a part of the loan amount to the account of the borrower (Current /
Savings Bank A/c) maintained in joint / single names to enable the borrower to make
payment towards cost of books, and incidental expenses of the course for which the said
loan has been sanctioned by the Bank strictly as per sanction terms.

4. The borrower(s) expressly agrees and undertakes that the said loan is to be
utilised exclusively for the purposes set forth herein and also in the borrower's proposal
and as per the terms of sanction of the Bank and for no other purpose. The borrower
shall submit to the bank within a reasonable time, satisfactory proof of the proper
utilisation of the amount of the loan, such as certificate from the institute, bills and other
relevant documents/ receipts, etc., as may be acceptable to the bank.

5. The borrower(s) shall repay the amount of loan together with interest as per
arrangement / schedule-II of this agreement / sanction letter in equated or agreed rate of
monthly instalment as mentioned therein till the entire loan with interest is fully
liquidated effective from............................. to be realized from his/her/their A/c (SB /
CD) maintained with the Branch or arrange for payment of the monthly instalment in
whatever manner deemed fit or by debit on the due dates from the current / savings bank
account with the branch or any other branch of the Bank where the borrower(s) holds the
A/c singly or jointly or by any other agreed means by the borrower(s). This monthly
instalment also includes interest component.

6. The Bank shall charge interest at the Fixed / Floating Rate basis as mentioned in
the letter of sanction on the outstanding debit balance calculated on daily product basis
and debited in the concerned account every month as follows (delete whichever is not
applicable) ;

a) Fixed Rate of Interest : Interest on the amount of the loan will be applied @
.................% p.a. with monthly rest calculated on the outstanding debit balance on daily
product basis and debited in the concerned a/c. every month.

b) Floating Rate of Interest : Interest on the amount of the loan will be applied at
the rate of BR (Base Rate) Plus / Minus ............ % per annum (where BR i.e. Base Rate
stands for Minimum Lending Rate of the Bank declared from time to time) with monthly
rest calculated on the outstanding debit balance on daily product basis and debited in the
concerned account every month. Provided the Bank shall at any time or from time to
time be entitled to change the rate of interest depending on the change of BR and such
revised rate of interest shall be construed as agreed to be paid by the borrower(s). The
borrower(s) agree that it shall be deemed to have notice of change in the rate of interest
whenever the changes are displayed / notified at / by the branch / published in the
newspaper / made through entry of interest, charged in the statement of a/c sent to the
borrower(s).

c) The interest in the account will not be compounded monthly basis during holiday
/ moratorium period. The Bank will charge interest _____% (____ percent) rebate in rate
of interest if the Interest is serviced by the borrower from the initial stages of
disbursement on monthly and regular basis. Penal interest @ _____% (_____________
percent) or such other rate as the Bank may determine from time to time shall be charged
for overdue amount and overdue period irrespective of any loan amount.

d) The availability of subsidy under Central Govt. interest subsidy Scheme to the
loan account shall be subject to compliance of terms and conditions of Govt. of India by
the borrowers.

7. The loan amount sanctioned to the borrower is towards pursuation of education by
the student borrower. The first monthly instalment (EMI) has to be paid after 12 months
(maximum) from the date of completion of studies (including training period, if any) or
six months after getting employment whichever is earlier or any shorter period as may be
opted for. The undertaking by the borrower is to repay the loan within _____ years from
the date of commencement of repayment, as the bank has stipulated in the sanction letter.
Repayment shall commence after 12 months from the date of completion of studies
(including training period, if any) or six months after getting employment whichever is
earlier. For the purpose of servicing interest on loan by the borrower(s) one Savings Bank
or Current Deposit has to be opened with the concerned Branch and sufficient funds to be
kept for such purpose.

8. (i)The student borrower hereby agrees that it will enter upon and diligently
continue the course and that he will complete the course within the prescribed time
specified in the application form.

(ii) that he/she will throughout the period of the course comply to such directions
as may be given to him/her by the institute/college/university from time to time.

(iii) that he/she will sit for all examinations and periodical tests prescribed by the
institute (college/university) with /in his which he/ she is pursuing the studies.

(iv) that he/ she will confirm to such regulations, instructions and discipline that
may be in force from time to time at the institute/college/ university in which he/she is
pursuing studies.

(v) that he/she shall not change the course or take up or pursue any other course of
study without prior consent in writing of the bank.

9. The Borrower hereby undertakes to intimate the bank, in writing within 7 days
from the date of joining the employment, details of his/her employment such as address
of employer, salary etc. and to keep the Bank informed of the present official and
residential address as and when it changes.

10. The Borrower hereby assigns his future income in favour of the Bank towards the
payment of installments together with interest on the loan amount. In case of any default
by the borrower in payment of any money becoming due under the said loan, the Bank
shall be entitled at the Borrowers risk and expenses as attorney for and in the name of
the Borrower or otherwise (the Borrower hereby irrevocably appointing the Bank to be its
Attorney) to give notice(s) of demands or take necessary steps for recovering any
amounts payable to the Borrower by his/her employer or his/her debtors. In this regard
the borrower agrees to notify promptly to all his/her future employers or his/her debtors
about the authority granted to the Bank for recovering the amount payable by them
(future employers or debtors) to the borrower.

11. All monies payable by the Borrower to the Bank shall be paid to the Bank at
____________ Branch, _______________ by cash / cheque or Bank draft drawn/
electronic transfer in favour of the Bank. Credit for all payments/payments by outstation
cheque / Bank Draft will be given only on realisation of cheque / drafts.

12. The loan amount together with all the interests, costs, expenses and all other
monies whatsoever shall be secured by the following along with letter of assignment of
income, as stipulated in the letter of sanction.

a. Co-obligation of parents to repay the loan amount.
b. Hypothecation of Computer /accessories / equipment / instrument etc. to be purchased
out of bank finance.
c. Collateral security in the form of suitable third party guarantee
d. Tangible collateral security

13. The (student) borrower agrees that it shall execute in favour of the Bank, a letter
of authority addressed to his/her employer to recover, and pay to the bank the monthly
instalment from his/her Salary every month for appropriation towards repayment of
his/her loan and interest, where the (student) borrower is employed and the same shall
remain irrevocable so long as the (student) borrower continues to be liable to the Bank in
respect of his/her loan account.

14. The borrower(s) shall create equitable / registered mortgage of land/house/flat in
favour of the Bank and shall execute such documents as would be required by the bank,
in terms of sanction letter issued in favour of him/her/them. In case it is not possible on
the part of the borrower to create security by way of mortgage as aforesaid, the borrower
shall arrange for furnishing other collateral securities to the Bank by way of pledge of
bank's own Term Deposits, Insurance policy (by surrender value)/NSC/KVP/Relief
Bond, etc., acceptable to the Bank as security for the loan, as per terms of sanction,
wherever required.

15. The borrower(s) shall not assign, mortgage, charge or in any way encumber or
alienate the mortgaged flat/house/land/properties or any part thereof so long as the
borrower(s) remains indebted to the Bank in respect of his/her/their loan account.

16. The borrower(s) hereby agrees that the Bank shall be at liberty to inspect the
mortgaged flat/house/land/properties at any reasonable hours of the day. The borrower(s)
shall ensure that the bank's security is not jeopardised in any way. The borrower shall
further ensure that all charges payable to the Co-operative Society / Municipal Taxes /
Cesses and other dues to the statutory authorities are paid by him/her promptly in respect
of the said flat/house/land/properties.

17. The borrower(s) shall keep himself/herself/themselves insured in respect of
his/her/themselves in their own name and the Bank sanctioned limit of education loan
and interest thereof. If the borrower(s) fails to effect such insurance, the Bank will be at
liberty but not obliged to effect credit life insurance for the said amount against the life of
the borrower(s) under the scheme and debit the said insurance premium and other charges
to the account of the borrower with the Bank, as per terms of sanction. The Bank may at
the option of the Borrower(s) allow loan for payment of such one time credit life
insurnce premium. The borrower(s) further agrees that the Bank shall have the absolute
right to receive all money payable under the said insurance policy relating to any claim
made thereunder and to give a valid receipt therefor and the amount so received by the
Bank shall be conclusive and be credited to the loan a/c of the borrower and the borrower
shall not be entitled to raise any question with regard to the quantum of the amount which
has been received from the Insurance company and credited to his loan account. The
borrower(s) will not dispute his liability for the balance amount remaining due on such
a/c after such credit from the insurance company.

18. The loan under this Agreement shall be released by the Bank subject to
fulfillment of all terms and conditions and the Borrowers performing all obligations and
undertakings under this Agreement besides compliance with Disbursement Procedure
stipulated by the Bank such as submission of necessary information, documents etc. to
the satisfaction of the Bank.

19. Notwithstanding anything herein or in the security documents contained, the
whole advance and/or the entire outstanding balance shall become forthwith due and
payable by the borrower(s) or his/her/their heirs, legal representatives and/or nominees
to the Bank and the Bank will be entitled to enforce its security upon the happening of
any of the following events namely :

a) the student borrower ceasing to be in the course for which the Bank has financed
by way of any disciplinary action taken by the institution, resigning from the study or
being discharged from the service (after getting employment) or otherwise or upon the
demise of the borrower or ceasing to be in service;
b) the occurrence of any circumstances which in the opinion of the bank is
prejudicial to or impairs, imperils or depreciates or is likely to depreciate the security
given to the Bank ;
c) the occurrence of any event which in the opinion of the bank will adversely affect
in any manner the ability or capacity of the borrower or will make it improbable for the
borrower to observe and perform his obligations hereunder to repay the loan with interest
;
d) the occurrence of any default on the part of the borrower in paying the monthly
instalment on due dates as per the sanctioned terms communicated by the Bank vide letter
of sanction or the payment of instalment as agreed hereunder.

The decision of the Bank with regard to happening any of the aforesaid event will be
conclusive and binding on the borrower(s).

20. The borrower(s) further agrees that till the entire dues are adjusted by way of
recovery from his/her employer or otherwise his/her liability to make repayment of the
entire dues with applicable interest upto the date of payment in respect of his/her loan
a/cs shall remain valid.

21. The undertakings, authority and agreement herein contained shall be irrevocable
so long as the borrower(s) continues to be liable to the bank in respect of his/her loan a/cs
covered by this agreement.

22. The borrower(s) further agrees that in case of default of payment of loan/
advances or in the repayment of interest/agreed instalment of loan on due dates,
Bank/RBI will have the unqualified rights to disclose / publish his/her name as defaulter
or publish photographs in such manner and through such medium as the Bank/Reserve
Bank of India, in their absolute discretion, may decide.

23. The borrower(s) shall furnish to the Bank all such information as would be
reasonable material for the Bank to ascertain / required by the Bank for its satisfaction
from the institutes at such time in such forms and containing such particulars as the Bank
may call for the purpose of ascertaining the results of utilisation of the advance.

24. Any notice by way of request demand otherwise hereunder may be given by the
Bank to the borrower(s) personally or may be left at his/her the then or last known
address or residence in India addressed as aforesaid and if sent by registered/speed post it
shall be deemed to have been given at the time when it would be delivered in due course
of post and in proving such notice when given by post it shall be sufficient to prove that
the envelope containing the notice was posted at the last known address and a certificate
signed by the Bank in this regard that the envelope was so posted shall be conclusive. If
sent by facsimile transmission, the report generated from the facsimile machine of the
Bank showing the borrowers facsimile number and number of pages transmitted will be
treated as conclusive evidence in respect of the notice received by the borrower. If by
reason of absence from India or otherwise the borrower or any of such individual cannot
be given any such notice the same inserted once as an advertisement in a newspaper
circulating in the District where the borrower last resided at the address mentioned above
be deemed to have been effectually given and received on the day on which such
advertisement appears.

25. The borrower(s) irrevocably and unconditionally agree and undertake to bind
himself/herself/themselves his/her/their executors, administrators, estates and assignees
for re-payment of the outstanding liabilities in the loan account.

IN WITNESS whereof the Borrower by himself/herself/themselves set his/her/their
hands the deed on the

............................................... day of ...................................... 20........
Borrowers :

1. Signature .....................................................

Name ..........................................................

Address ......................................................

....................................................................

2. Signature .....................................................

Name ..........................................................

Address ......................................................
........................................................................

SCHEDULE-I

Details of loan sanction in favour of the borrower(s)

Loan amount Date of sanction

SCHEDULE-II

The details of monthly instalments to be paid by the borrower(s)

Number of instalments Date of instalment Amount of instalments

The above monthly instalment is subject to variation depending upon the revision of the
rate of interest and penal interest from time to time

Borrower(s) signature

Annexure-G

Contents of H.O. Circular No. RBD/UEL/19/OM-289/08-09 August 28, 2008

Re: Guidelines on Execution of Documents for extending education loan
to Minor Students

In view of queries raised from different quarters of the Bank, on execution of documents
for extending United Education Loan to Minor Students, following points in the
guidelines are being clarified herein under:

1. Education Loan can be sanctioned to minor students jointly with his/her
parent / guardian as the case may be.

2. No loan application & loan documents are to be signed by the minor student

3. In case the student is minor, loan application & all loan documents are to be
signed / executed by the parent/ guardian in two capacities i.e. for self as co-
obligant and also on behalf of the minor student.

4. After attaining majority only, the student has to execute the Deed of
Ratification (Annexure-A) in respect of all agreements & documents
executed by the parent/ guardian on his / her behalf.

All concerned are advised to note the above and act accordingly.

Annexure-H
LAPS Guidelines for handling specific fields in United Education Loan Scheme

LAPS (Lending Automation Processing System)

It is mandatory on the part of the HUBs to process retail credit proposals through LAPs.
The experience gained by HUB functionaries are shared with H.O. and solutions to the
problems, if any, are also provided below.

Areas of experience Action Points

Margin: Maximum score 10.00

As per Scheme, sanction of Loan upto Rs. 4.00 does not require any
margin and above Rs. 4.00 upto Rs. 10.00 in India, 5% margin is
stipulated.

In case study abroad, 15% margin is stipulated for loan upto Rs. 20.00
lac. How to handle this situation in LAPS.

No score to be
considered

Collateral Security : Maximum score : 10.00

As per Scheme, no collateral is required for loan upto Rs. 4.00 lac.
No score to be
considered
Guarantor : Maximum score : 10.00

As per Scheme no Guarantee is required for loan amount upto Rs.
4.00 lac
No score to be
considered
Guarantors Net worth to Loan Amt. : Maximum score:10.00

As per Scheme no Guarantor and for that reason no net worth of
Guarantor is required for loan upto Rs. 4.00 lac
No score to be
considered

Out of total score of 100, there is no scope of considering 40 scores as stated above.
The Users are therefore to calculate in terms of percentage of scores obtained out of
60 (100 40). If the proposal ranks merit of earning 60% score of 60 i.e 36, as
stipulated in LAPS, the proposal should be favourably considered.

Where LAPS is not in use, the Branches should continue to ascertain eligibility or
otherwise as per scoring model provided in the Booklet.

Where the admission is purely based on the marks scored in qualifying examinations, the
bank has fixed a cut-off marks (70% marks in XII standard examination) for loan
eligibility. It is clarified that where there is no scope of considering marks scored in
entrance examination, 70% marks as stated may be the guiding percentage.
Proposal of Students passed through entrance examination must not be rejected
only on this ground by the HUB/Branch.
Annexure I
Contents of H.O. Circular No. RBD/UEL/5/OM-086/12-13 dated 10
th
May, 2012

Subject : Scheme for Interest Subsidy on Education Loan for Economically Weaker
Sections- submission of claims

Based on the guidelines received from the IBA recently, Branches are advised to submit claims for
all eligible loans accounts disbursed during 1
st
April, 2011 to 31
st
March, 2012, by 5
th
June, 2012 to
the concerned Regional Office and the R.O. in turn should submit to H.O. Retail Banking
Department by 15
th
June, 2012.

It is further advised that the Branches which failed to submit claims for eligible loan accounts
disbursed during the financial year 2009-10 and 2010-11 should lodge claims, though the validity
period of submission has already expired. However, considering Banks requests for giving another
chance for extending the benefit to economically weaker sections, Govt. of India has acceded to it
but pointed out that this is the last chance for submission of such claim.

The Branches are advised to undertake the following steps in this regard :

a. Contact each borrower personally (where possible), hand over the letter or send by Regd
Post that he/she is eligible for getting subsidy with a request to submit Income Certificate
from the Competent Authority within a specified date and keep a record thereof. A draft
copy of letter is provided in Annexure I.
b. Get the Agreement executed by the concerned borrower(s).
c. Massive awareness among SC/ST students should be undertaken so that they may feel
inclined to submit claims to the Bank with requisite documents.

It is reiterated that the claims are to be submitted through soft copy like previous occasions.
Neither hard copy of claim nor submission of the same to H.O. directly by the Branch would be
entertained. If claim is not submitted in time due to omission on the part of the Branch, the
concerned Branch Authority will be held responsible for such omission/ inaction. The claim
should be lodged separately for the financial year 2009-10, 2010-11 and 2011-12. Claims
clubbed together will stand rejected.

All concerned are advised to strictly observe the time zone. The portal of Nodal Bank will be closed
on stipulated date. No further claim shall be entertained from the member banks after date
, which may please be noted.

In case of 7 states viz. Arunachal Pradesh, Assam, Bihar, Manipur, Orissa, Sikkim and Tripura, the
State Govts. have not yet designated the competent authorities to issue income certificate under
the scheme. Our Branches may submit claims on behalf of eligible borrowers of these states as
and when they notify certificate issuing authorities.

A format for certificate to be issued by the Certificate Issuing Authority is given in Annexure-II and
draft Agreement between the Bank and Borrower in Annexure -III.

Annexure-I

United Bank of India
..Branch

Ref. No. UEL/ /10-11 DateFebruary, 2011
Mr. /Ms
.

Dear Sir/Madam,
Subject : Scheme for Interest Subsidy on Education Loan for Economically Weaker
Sections submission of income certificate from the designated authorities of the State
Govt. in favour of the borrowers for the academic year 2009-10/ 2010-11/ 2011-12 (delete
whichever is not applicable)

Ref: Education Loan A/c No. .in the name of
.

Govt of India provides for full interest subsidy during the period of moratorium on educational loans
for students belonging to economically weaker sections (with parental family income from all
sources of less than Rs. 4.50 lakh annually) from scheduled banks under the Educational Loan
Scheme for pursuing courses of studies in professional/technical streams from recognised
institutions in India. The Scheme is effective for all IBA approved educational loans sanctioned to
eligible students for academic year 2009-10 .

If you are interested in availing the interest subsidy, we would request you to (a) submit the income
certificate from the competent authority of State Govt. (in original) and (b) execute Agreement
with the Bank by 1
st
June 2012.

Bank will not be responsible if you delay in submission of requisite documents.

Enclo : As stated,

Yours faithfully,
Manager

Annexure-II

This is to certify that Sri/Ms.
S/o,D/o-.residing at ...

His/her annual gross family income from all sources for the year is
Rs(Rupees
...)

This certificate is issued for the purpose of claiming interest subsidy under the scheme of Ministry
of HRD for pursuing approved courses of studies in technical & Professional streams from
recognized institutions in India, for his son/daughter Sri/Ms.

The signature of Sri/Ms (applicant) is attested below.

Signature:

Signature of Competent Authority
Place:-
Date:-
[The Competent Authority may prefer to give certificate in other format but it has to be ensured that
all the relevant information is provided for the purpose of income of the eligible claimant]

Annexure-III
AGREEMENT
(To be stamped as an Agreement)
(Between the Student and the Branch of the Bank)

This Agreement for availing of interest subsidy under the Central Sector Scheme of
Interest Subsidy on Students Loan for Professional Education in India made at
______________ on this ________ day of__________ in the year ___________.

BETWEEN
Sri/Smt. _____________________________ Parent/Guardian S/O D/O
_______________________ aged _______ Years, residing at _________________.

AND
Sri/Smt. _____________________________ (Student) S/O D/O
__________________ aged _________ Years, residing at
_____________________________ represented by father/guardian Sri/Smt
________________ S/O D/O ____________________ aged _________________
years, residing at________________________.

Parent and Student hereinafter jointly called the Borrowers and individually as Borrower
of the FIRST PART (which term wherever the context so requires or admits shall also
include his/her/their heirs executors and assigns)

AND
____________________ Bank, a body corporate constituted under the Banking
Companies [Acquisition & Transfer of Undertakings] Act, 1970 having its Head Office at
________________ and having among other Offices, a branch office at
___________________ represented by their duly constituted attorney Sri/Smt.
_____________________ hereinafter called the Bank (which expression wherever the
context so requires or admits shall also include its Attorneys, Administrators, Successors
and Assigns) of the OTHER PART.

Borrowers and ________________ Bank shall be individually referred to herein as a
Party and collectively as Parties.

WHEREAS

1.The Borrowers availed/intend to avail Educational Loan from the Bank and the Bank
sanctioned/agreed to sanction Rs.______________ (Rupees_____________) for pursuing
technical /professional education in India. The Borrowers in consideration of the said
sanction/promise has executed/shall execute the Educational Loan Agreement besides such
other agreement/s or security/ies as per the Model Educational Loan scheme.
2. Integrated Finance Division, Department of Higher Education, Ministry of Human
Resource Development of India (MoHRD) has come out with a Central Sector Scheme of
Interest Subsidy on Students Loan for Technical/Professional Education in India
(hereinafter called the Interest Subsidy Scheme) to provide interest subsidy on the
education loans availed by students having lower than a specified parental income as
decided by the MoHRD in the said scheme for pursuing professional education in India
during their study repayment holiday, from the Academic Year 2009-2010.
3. The Borrowers represented that they are eligible for interest subsidy under the said
Interest Subsidy Scheme and requested the Bank to grant such benefit to them.

4. Based on the documents submitted by the Borrowers, the Bank agreed to extend the
benefit under the said Interest Subsidy Scheme to the Borrowers and the parties hereto
desire to enter into an agreement setting out the terms and conditions as hereinafter
appearing in addition to the loan security documents executed/to be executed by the
Borrower/s.

IT IS HEREBY AGREED AND DECLARED BY AND BETWEEN THE PARTIES
AND THIS DEED WITNESSED AS FOLLOWS:

1. The borrowers hereby covenant:
a) That they have read and understood the Interest Subsidy Scheme of the MoHRD which
is enclosed as part of the Agreement and declare and affirm that they are eligible under
the said scheme and are eligible for the interest subsidy as per the said Scheme.
b) That they shall produce all proof and documents of any other further supporting
documents as required by the Bank/MoHRD.
c) That all the clauses contained in the Educational Loan Agreement or any other
documents executed by them shall be binding on them and this is in addition to the
covenants clauses contained in the said Agreement/documents.
d) That they shall return/refund the amount received towards interest subsidy under the
Scheme with applicable rate of interest then prevailing forthwith on a mere demand by
the Bank under the following circumstances:

i) if MoHRD rejects the interest subsidy claim in respect of their Education Loan
Account for whatever reason, or
ii) if it is found that the subsidy has been claimed by misrepresentation/fraud, or
iii) if Borrowers fails to furnish the documents information, which they are called upon to
furnish, or
iv) if Borrowers commit breach of any of the covenants herein contained or of the terms
and conditions of the Scheme as amended from time to time or any of the declarations
made herein is found false/incorrect, or
v)if borrowers commit breach of any of the covenants contained in the Educational Loan
Agreement or any other document/s executed by the Borrowers or
vi)if the Borrowers discontinue the said professional education in India or
vii)Any other reason by which the Bank recalls the said Educational Loan.

The repayment holiday/ other eligibility as available under the Model Educational Loan
Scheme shall not be eligible for the subsidy.

The Bank shall also have the right to recall the loan, if the said refund is not made within
the period stipulated by the Bank in its demand, besides the right not to claim further
reimbursement from the MoHRD.

e)That they shall directly take up the MoHRD in case of rejection of their interest subsidy
claim submitted by the Bank and the Bank shall not be made a party to the same.
Borrowers shall on receipt of such intimation from the Bank/MoHRD, submit further
clarification / documents, if any, required by the MoHRD directly to MoHRD

f)That they shall comply with and faithfully observe all the terms and conditions of the
said interest Subsidy Scheme and also the subsequent amendments and modifications and
additions thereto together with the conditions of the sanction of the said Education loan.

That they shall bear all expenses required in connection with the execution of the
Agreement or enforcement of its terms and conditions.

IN WITNESS WHEREOF BORROWERS and the BANK have hereunto set their
respective hands on the day and place mentioned above.

BORROWERS FOR BANK

1..
..

2...

3..

Certificate and Undertaking

1. Certified that interest subsidy (reimbursement) claim (s) submitted by us s/are in
respect of the Student(s) who is / are eligible under the interest subsidy scheme
announced by the Govt. of India.

2. Certified further that we have verified and are satisfied about the genuineness and
correctness of the interest subsidy claim(s) submitted by us and the same is/are
correct accurate and genuine and is/are as per the interest subsidy scheme
announced by the Govt. of India.

3. We further agree and undertake to remit any amount received from Canara Bank
in excess of our claim/amount reimbursed by Govt.of India to Canara Bank.
Further we authorize Canara Bank to return the amount received from the Govt.
against our claim/s and held by Canara Bank, if the Govt. requests for such refund
for whatever reason.

4. Certified that we have exercised due diligence in furnishing the information in the
reporting Format to claim the reimbursement of the interest subsidy from Govt.of
India.

Name :

Designation:

Date :

Signature & Official Seal of Authorized Signatory

Annexure - J
CBS Guidelines on Interest Issue (Received from CBS Dept):
Management of overdue interest in Education Loan (simple):As per policy of the
Bank in respect to Educational loan Interest is to be applied regularly in the account
during the moratorium period which may or may not be serviced by the borrower during
the moratorium period. The interest charged during the moratorium period is simple in
nature.
Thus the interest applied during the moratorium period is not to be considered as
overdue. This facility is available in Finacle (Option- OAAC-I / ACM S) where
Interest overdue period field for Education Loan (Simple) is default populated as
999/999. At the time of opening an account the user has an option to put the actual
interest moratorium period in the field interest overdue period instead of 999/999.
This process needs to be followed in case of Education Loan (simple) and account to be
rephrased after expiry of the moratorium period ,the process of which discussed below

Conversion of Education Loan from simple interest to compound: The procedure for
conversion of education loan simple to compound is given below.
The Branch has to identify first whether the borrower has repaid interest on regular basis
or not. If interest is regularly repaid and borrower is eligible for interest concession then
only allow interest concession invoking menu option INTTM, put interest preference
in account preference interest debit column field as applicable where start date field
should be the date of account opening and end date up to the moratorium period then
press down arrow, system will automatically show the start date where end date is the
default populated as 31-12-2099 having no value in account preference interest debit
field, keep the same as it is and commit and verify the same.
To refund interest run "LADGEN". Please note, above mentioned steps are required
only for interest concession but next steps are to be followed irrespective of all LAEDS
Loan account at the time of conversion.
Thereafter account level change is required through menu option "ACM". In Menu
option put ACM and then presses enter and in function column put -"M" and press
enter. Cursor will move to A/C ID column-put respective account number and press F4,
cursor will move to option code, put 0 and Press F4 put Leger NO. for identification in
future and press F4, cursor will move to option field.
Now remove 0 by Putting -"S" in the option code and press F4 only once and press F6
(thrice). A page will appear where in whatever may be the value in interest overdue
period field to be removed to keep the field blank and interest on interest demand
column flag by default is "N" delete "N" and put "Y. Similarly, Penal interest on interest
demand overdue flag should be "Y" and also Penal interest on principal demand overdue
flag should be "Y". Now press F4, cursor will move to option code. Now delete "s" put
"E" and make rephasement as Y where capital interest flag should be "Y" then press
F4 cursor will move to "EIDEM" field change the repayment schedule as per terms of
sanction and press F4 cursor will move to "E" option Press F10 and verify the same.

For further details Br. may contact CBS Held Desk : 3000333, 3000073, 3000126
UNITED BANK OF INDIA
HEAD OFFICE: KOLKATA

APPLICATION FORM FOR TERM LOAN
UNDER EDUCATION LOAN SCHEME / UNITED SUPERB EDUCATION LOAN
SCHEME

(Note : Application form to be read carefully before filling in Application
should be submitted in duplicate)
Place:
Date:
To
United Bank of India PHOTOGRAPH PHOTOGRAPH
_____________ (Student) (Parent/guardian)
(Name of the Branch)

I hereby apply for an Educational Loan of Rs..repayable in..
monthly instalments beginning .. years
after the disbursal of the loan to enable me to prosecute higher education
in

BIO-DATA OF THE STUDENT

(a) Name in full :

(b) Address :

(C ) Date of birth and age :

(d) Nationality :

(e) Is the student otherwise
gainfully occupied elsewhere : Yes/No

If yes, please give details :
of present occupation

(f) Marital Status : Married ____ Unmarried _______

If married, number of
Children, if any :

(g) Parents Name in full

Father :

Mother :
// 2 //
(h) Guardians name in full :
and relationship with
the student

(i) Address of father/parent/ :
Guardian with Telephone
No., if any.

Permanent

Present :

(j) Full Office Address with designation
& Telephone No. :

3. EDUCATIONAL QUALIFICATIONS

Examination
passed
Institution/ University from
which passed

Year of
passing
Percentage
of marks
obtained
Class
obtained

Mark Sheets of examinations passed as also testimonials from the College last attended to be attached.

4. Particulars of Scholarship/Prizes won for academic distinction:
a) Examination :

b) Nature of Scholarship/Prizes :

c) Amount :

d) Duration of Scholarship :

5. Parents/Guardians financial status/family particulars

a) Occupation (give full particulars) :

b) Income per month :

c) If in service, the age of retirement :

d) Number of dependants :

e) Details of income of any other member of
Family, if earning :
// 3 //
6. Particulars of the course for which the loan is required:
I. Name of the course & Process of selection :

II. Duration :

III. Institution/University:
(Accreditation/ Recognition Authority)

IV. Whether listed in Annexure-A of premier institutions
or Annexure-B of approved institutions)

V. Sanction to be done directly by Branch :
VI. Prior clearance from RO required :

VII. Detailed year wise breakup of expenses :
including fees & other requirement :

i) Fees payable to College/School/Hostel :

ii) Examination/Library/Laboratory Fees :

iii) Purchase of books/equipments/instruments/ :
uniforms :

iv) Caution Deposit/Building Fund/
Refundable Deposit supported
by Institution Bills/Receipts :

v) Travel Expenses/Passage Money for studies
abroad :

vi) Purchase of Computers essential for
completion of the course :

vii) Any other expenses required to complete the
course like study tours, project work thesis, etc. : :

Funds available from own/family
source including margin : _______________

Amount of Loan required (Rate
of conversion of Foreign currency
taken is to be indicated here) : _______________

TOTAL : _______________

Other particulars:

7) Schedule of Disbursement proposed by the
applicant :

// 4 //

8) i) Expected Income per month :Rs.
after completion of course

ii) Anticipated monthly expenses :Rs. _______

Balance :Rs. _______

Amount available for repayment of loan :Rs. _______

9) In case of students intending to go :
abroad, details of passport

Note :
i) Permission of the Foreign University accepting the student
for enrolment or letter of admission to the Foreign University
to be enclosed.
ii) Permission of the RBI Exchange Control Department should
be produced at the time of submission of the application along
with the Passport and Visa of the Student.

10) Any other useful information :

11) Details of documents attached:
a) d)

b) e)

c) f)

12. Details of securities offered:
(where applicable)

13. Particulars about 3rd party as Guarantor
(in case of 3rd party providing security)
(A declaration by the Guarantor to be submitted
as per specimen enclosed along with this :
application).

a) Name - :

b) Residential Address with Telephone No. :
and office address with Telephone No.

c) Occupation with designation and other details :

d) Estimated worth :

// 5 //

14. References (Name and Address of two
Referees not related to you) :

1.

2.

We hereby give the undertaking that the borrower-student shall follow all the rules
and Regulations laid down by the institution where he will be prosecuting studies
and shall maintain such dignity and honour, as is expected of a student pursuing
higher studies.

We further undertake that if the borrower - student studying abroad takes up any
part time employment, full particulars of such employment shall be intimated to the
bank.

We also hereby undertake that the borrower - student should inform the Bank of
any financial aid, assistance-ship, scholarship, sponsorship or any other assistance
availed of by him at the time of applying for the loan or thereafter and of any other
subsequent change in his financial position during the pendency of the loan.

We further undertake that full details of employment after completion of the course
shall be furnished to the Bank by the student borrower.

We certify that to the best of our knowledge and belief, the information furnished
herein is true and correct. We promise to abide by the terms and conditions
governing the grant of the Educational Loan by UNITED BANK OF INDIA. We also
undertake to furnish the correct address from time to time.

SIGNATURE OF STUDENT (APPLICANT)

(SIGNATURE OF FATHER/GUARDIAN) (SIGNATURE OF MOTHER/GUARDIAN)

// 6 //

DOCUMENTS TO BE ENCLOSED

1. Copy of the Testimonials

2. Copy of the Intimation for Admission

3. Course fee details (expenditure certificate from Institution)

4. Last two months salary certificates (guardian / co- borrower)

5. Copy of Form 16 (IT) / IT return (guardian / co-borrower)

6. Photocopy of Voter Identity Card / Ration Card

7. Copy of Passport / Visa (Overseas Study )

8. Copy of PAN card (student or guardian / co-borrower or guarantor)

9. Photocopy of electric bill / telephone bill (student / guardian / co-
borrower)

HEAD OFFICE:KOLKATA

NAME OF THE BRANCH _________________________________________________

Particulars about the Guarantor
(To be furnished by the Guarantor) in respect of
Educational Loan Proposal of

Shri/Smt.____________________________________________________________
___
(Name of Student applicant)

1. Name :

2. Address :

3. Age :

4. Occupation
(Please give details) :

5. Approx. Annual Income :

6. Estimated net worth indicating inter
alia details of Fixed Assets and Liabilities,
if any. :

Dated : ______________
Signature____________________________________


HUB/BRANCH PROCESSING SHEET FOR EDUCATIONAL LOAN

1. Name of the Branch :

2. Proposal No_________________________ Dated
___________________________

A. Loan Application received from
Mr./Miss____________________________________

_____________________________________ dated _________________________

for Rs. ____________________ is enclosed.

The details given in the application have been verified by independent enquiries,
reference to testimonials / certificates/documents, etc. wherever necessary,
furnished by the Student (Photo-copies of which have been verified by the branch
with originals and such originals have been returned retaining the photo copies
) from the head of the educational institution where the student had studied
last ; and two other respectable persons not related to the student about the
students ability, character etc. and also from certified copies of letters conferring
scholarship/Prize, if any, on the student for academic distinction.

All precautionary measures have been taken to verify the genuineness of the student
/parents/guardian/guarantors after conducting verifications from different sources
and also by visit to their residential addresses and places of work.

3. i) Applicants Name :

ii) Full Address :

iii) Date of birth and age :

4. i) Fathers /Guardians name :

ii) Residential Address :

Office Address with Telephone No. :

iii) Occupation :

iv) Retirement Age :

v) Gross Monthly income : Rs.

a. Net Surplus : Rs.

b. Other source of income from family : Rs.

// 2 //
5. Purpose of Loan :

6. Duration of the course :

7. Name and Address of the University/ :
College

8. Address of the Student at the Place
of study :

9. Loan amount eligible for as detailed
hereunder : Rs.

I. Cost of Completing the Course :

i) Fees payable to College/School/Hostel : Rs.

ii) Examination/Library/Laboratory fee : Rs.

iii) Purchase of books/equipments/instruments
/Uniforms : Rs.

iv) Caution Deposit/building fund/refundable
deposit supported by Institution bills/
receipts : Rs.

v) Travel Expenses/passage money for
studies abroad : Rs.

vi) Any other expenses required to complete
the course like study tours, project works,
thesis etc. : Rs.

vii) Purchase of computer- essential for : Rs. __________________
completion of the course.

TOTAL Rs. __________________(A)

II. Own/Family funds available :

a) Scholarship/Assistance-ship Rs.

b) Own Rs.

c) Parents/Guardian Rs.

d) Any other source Rs. _________________

TOTAL Rs.___________________(B)
(as % of A = )
// 3 //

III) Term Loan to be granted for study (I-II) Rs.

Plus Premium for Credit life Insurance of student (Mandatory).

IV. Term Loan to be granted Rs.

10. Expected Monthly Income of borrower after
the completion of the course Rs.

Less :

Anticipated Monthly Expenditure Rs.

Amount available for repayment of loan Rs.

11. Whether any fund will be available from
student/parents/guardians towards the
repayment of loan amount during the currency
of the course. If yes, what are the terms :
(To be filled in after discussion with parents/
guardians)

12. S.B.A/c No. maintained with the Branch for
servicing of interest on loan monthly and regularly :

13. Repayment period : __________ Years

14. Date of commencement of repayment :

15. Rate of interest (Floating Rate)

a) Upto Rs.4.00 lacs :

b) Above Rs.4.00 lacs :

(Subject to changes as per RBI/H.O. directives)

Note : i) Intt. is to be calculated quarterly on simple basis during moratorium period
and
thereafter on compound basis,

ii) 1% interest concession may be allowed during moratorium period only if the
interest is serviced monthly & regularly during moratorium period. (Interest to be
calculated and charged as per stipulated rate of interest. Concession will be
calculated and credited to loan a/c after completion of moratorium period)

iii) Penal interest @ 2% to be charged for loans above Rs.4.00 lacs for overdue.
amount and overdue period.

// 4 //

16. Equated Monthly Installment (EMI) :

Note : Modality for computation of EMI :

a) Course period plus 1 year (max.) is to be considered as moratorium i.e.
repayment holiday period and applicable interest at simple rate accruing during such
period is to be added with loan amount disbursed.

b) Depending on the period of repayment, EMI is to be worked out taking
the total amount of outstanding as at (a) plus applicable interest on compounding
basis
during the period of repayment.

17.Disbursement Mode & Schedule (Proposed) :

Date Amount On account of Cash or Cheque/Draft Name & Address of
beneficiary
_____ _______ ____________ __________________
_________________________

18. Opinion on father/guardian and guarantor(s) :

19. Opinion on the student :

20. Report on verification of student/parents/ :
Guarantor(s)

21. Security offered (where applicable) :

22. Documents offered :

a) b)

c) d)

e) f)

// 5 //

23. Name of the official visited the place of
residence/office with date of visit (record of
visit is to be kept in file) :

24. Managers Observations/Recommendations :

We recommend the proposal for sanction of the loan amount under the terms and
conditions as follows :

Loan Amount : Rs.

Interest : Rs.

Purpose :

Security :

Repayment :

Procressed by Sanctioned by

MANAGER / SR. MANAGER CHIEF/SR. MANAGER

HEAD OFFICE: CALCUTTA

----------------------------------------- HUB/BRANCH
SANCTION LETTER

REF. NO. : DATED :

Mr./Miss.
(Name of student borrower)

Mr./Mrs..
(Name of either of the parents/guardian)

(Address)

Re : Your application for Educational Loan for higher studies.

In response to your above application dated, we are pleased to sanction you an
Educational Loan on the following terms and conditions :

(1) Amount of Loan :

(2) Purpose : For pursuing studies/higher studies by

Mr./Miss_____________________________________________________________
(Name of the student borrower)

In the field of_________________________________________________________

at__________________________________________________________________
(Name of the University/College)

Situated at___________________________________________________________

to be completed in . years
( duration of the course )

(3) Nature of Facility : Term Loan

(4) S E C U R I T Y
(Applicable in case of loan above Rs. 4 lacs)

// 2 //

Additional Security:

i) Personal Guarantee of
Mr./Mrs..

ii) Other (if any)
..

..

(5) DISBURSEMENT :

The loan will be disbursed at the request of the student borrower as per the
following schedule :

Nature Amount Prospective date of disbursement

a) Fee payable to College/ :
School/Hostel

b) Examination/Library/
Laboratory Fee :

c) Purchase of books/
Equipments/instruments/
Uniforms :

d) Caution Deposit/
Building Fund/Refundable
Deposit supported by
Institution bills /receipts. :

e) Travel expenses/passage
money for studies abroad :

f) Purchase of computers essential
for completion of the course. :

g) Any other expenses required
to complete the course like
study tours, project work, thesis etc. : `

//3 //

h) Interest:BR + % (i.e.) % p.a. (Simple) quarterly during the moratorium
period and on monthly rest with compounding effect after the expiry of moratorium
period.

(The rate of interest will be subject to change as may be prescribed by RBI/HO
directive from time to time.)

Note : 1% concession in rate of interest shall be available during moratorium period
only if interest is serviced monthly and regularly during moratorium period.
However, penal interest @ 2% is leviable in case of overdue amount during the
overdue period.

(6) Proviso :

For enabling the Bank to disburse the above sanctioned loan amount in time,
necessary supporting documents are to be produced well in advance. The remittance
there against will be made by the bank directly to the concerned authorities. As far
as practicable such direct disbursement will be made by the Bank but cash
disbursement will be considered at the request of the student borrower on merit.

(7) REPAYMENT:

The repayment will commence after the moratorium period which is either 12
months after the completion of the course or six months after securing employment
whichever is earlier. Loan with interest will be repaid in monthly instalments spread
over a period of ..Years starting after the moratorium period as stated
above.

The monthly instalments payable to the Bank will be worked out on the basis of
loan amount outstanding at the end of the moratorium period allowed as above plus
interest calculated thereof with quarterly rest which will be treated as the loan
outstanding at the time of starting of the repayment of the loan. Such outstanding
loan amount is to be repaid in equal monthly instalments besides future interest
thereon as and when applied.

(8) Other Conditions :

i) Before release of the loan, you will execute all the necessary documents.

ii) You are to open and maintain one SB a/c with the branch for servicing interest on
loan on monthly basis.

iii) You are to undertake that to complete the intending studies you shall arrange
for necessary and adequate funds from own sources if required beyond the loan
amount sanctioned by us and shall not approach the Bank for such additional
finance, if any.

// 4 //

iv) Since you have been financed under the Scheme for prosecuting domestic studies
you should not take up any employment during the period of the Course except
with the permission of the bank.

v) You should strive to secure suitable employment after the Course is completed.
As soon as you secure employment, you should furnish the Bank with full particulars
of such employment including income therefrom.

vi) You should follow all the rules and regulations laid down by the institution where
you will be prosecuting studies and shall maintain such dignity and honour, as is
expected of a student pursuing higher education.

vii) If you take up any part time employment while studying abroad full particulars of
such employment should be advised to the Bank.

viii) Before availment of the loan for the purpose of study abroad, you shall produce
and submit to the Bank the Exchange Control Permit for release of foreign exchange
by Reserve Bank of India, sufficient to cover the cost of study and stay abroad and
also the passport and visa for travel to overseas.

ix) You should inform the bank if any financial aid, assistanceship, scholarship or any
other assistance availed of by you or any other change in the financial position, after
availment of the loan from the Bank.

x) All other usual conditions and formalities as per Rules/directives / guidelines of
Reserve bank of India/Indian Banks Association as amended from time to time will
be applicable.

If the above terms and conditions are acceptable to you, you may sign on the
duplicate copy of this letter as token of acceptance and return the same to us for our
further action.

We wish you every success in life.

Yours faithfully,

Branch Manager

DEED OF ASSIGNMENT
(To be stamped as applicable)
Place :
Date :
To
United Bank of India
..Branch

In consideration of United Bank of India (hereinafter called The Bank ) having
at my request as well as the request of my parent / guardian granted Educational Loan
with maximum limit of Rs.(Rupees..only)
hereinafter referred to for privity sake as the Educational Loan under Educational Loan
scheme to me Mr./Mss/o / d/o

..against my application for Educational Loan
dated..
to the bank wherein my full particulars are mentioned including purpose of loan under the
terms and conditions of such loan mentioned in the sanction letter
no.........................
dated. .

WHEREAS-

I undertake that I will not take any employment and / or do any kind of business /
profession during the period of the course except with the permission of the bank and
further undertake that I will strive to secure a suitable employment after the course is
completed and as soon as I will secure employment/business/profession I will furnish the
full particulars of employment/business/profession including income thereof to the bank.

I also undertake that I will follow all the rules and regulations laid down by the
educational institution where I will be prosecuting studies and shall remain such dignity
and honour, as is expected as a student pursuing higher studies.

I, further undertake that in case I study abroad and take up any part-time
employment/business/profession with the prior permission of the bank, full particulars of
such employment/business/profession will be intimated to the bank.

I also undertake that I will inform the bank of any financial aid, assistance, shift,
scholarship or any other assistance availed of by me at the time of applying / availing of
the loan or thereafter and of any other subsequent change in my financial position during
the pendency of loan.

I further undertake that full details of employment/business/profession after
completion of the course shall be furnished to the bank.

Contd2
// 2 //

Now, I, Mr./Ms..s/o
d/o...hereby assure the assignee bank that during the
course of study and/or on completion of the aforesaid course, will inform the bank about
my full particulars of employment/business/profession together with salary/income and
will pay the aforesaid Educational Loan as per re-payment schedule.

I hereby assign, convey and transfer all my sights, title and interest in respect of
all income/amounts for my future monthly salary and allowances/income whatsoever
unto the assignee bank absolutely and having consideration therefore assure the assignee
that I shall assist and render all proof in court or otherwise, of the said claim for my
salary/income whatsoever due to me. The assignee bank shall be entitled to deliver notice
under the provision of law to my employer and/or their authorized agent or me and
realize the said amount through court or otherwise and give full discharge to the said
employer/me under these presents.

The assignment shall be continuing assignment until dues together with other cost
of the assignee bank are fully liquidated.

IN WITNESS whereof I set my hand hereto.

assignor/borrower

WITNESS :-

Signature :

Name & Address :

Place :

Date :

Score Sheet of Education Loan Scheme
Name of the Applicant:.
Sl.
No.
Parameters Scores Scores Scores Scores
90% 75% < 90% 60% < 75% 50% < 60% 1 Marks secured in last
Examination
20 15 10 5
Post-graduation in Professional/
Technical
Graduation in Professional /
Technical
Basic Post graduation Graduation & others 2 Course of Study
10 8 6 4
Through All India Entrance
Test
Through State Level Entrance
Test
Through Institution Level
Entrance Test
Others Selection Process for
Courses in India
10 5 3 2
Through International Entrance
test in Institute of US/UK
Through International Entrance
test in Institute of European
Countries
Through merit basis in Institutes
of EC/ UK/ Australia
Through merit basis in
Institutes of other
countries
3
Selection Process for
Courses in Abroad
10 5 3 2
IITs/ IIMs/ NITs/ NIFT/ XLRI &
Other all India Premier
Institutions
Institutions offering admission
through CAT/All India or State
Level Entrance Examination
Institutions & Colleges under
Premier Universities (JNU, BHU,
Jadavpur, Delhi, etc.)
Others Type of Institution in
India
20 15 10 5
Top Ranked university/college
in US/UK
State owned university/college
in US/UK
State owned university/college in
European Countries other than
UK/US
Others
4
Type of Institution
Foreign studies
20 15 10 5
20% 15% <20% 10% <15% <10% Margin for study in
India
5 4 3 2
50% 40% <50% 25% <40% <25%
5
Margin for study in
abroad
5 4 3 2
50% 40% <50% 25% <40% <25% 6 Contribution of
Scholarship towards
Total Course Fee
5 4 3 2
10 years 5 Years <10 years 3 Years <5 years 2 Years <3 years 7 Period of stay at
current residence
5 4 2 1
200% 150% <200% 125% <150% 100%<125% 8 Value of Security
offered to loan
amount
10 8 5 3
15 10 <15 5 <10 < 5 9 Monthly income of
Parent/Guardian :
Monthly Interest in the
loan account
10 7 5 2
10 5 < 10 3 <5 2 < 3 10 Parent/Guardians
Net worth : Loan
Amount
10 8 6 3
TOTAL SCORE: 100 THRESHOLD SCORE: 50 TOTAL SCORE ASSIGNED

Edu Loan Master Annex 19.05.12

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Edu Loan Master Annex 19.05.12

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Annexure -A

Contents of H.O. Circular No. RBD/UELS/9/OM-0186/11-12 dated 2

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