Scheme- Union Kisan Shiksha Suvidha (UKSS)
Purpose- To the meritorious students to pursue Medical / Engineering / Management courses leading to graduate / postgraduate education.
– Should be an Indian national.
– Belong to farming community with Primary source of income (above 50% of total income) should be from agriculture allied activity.
– Secured at least 60% marks at higher secondary level.
– No restriction with regard to the minimum and maximum age
– The parent(s) of the student has to compulsorily join in as co-applicant. In case of a married person, co-applicant can be spouse/parent(s)/parent(s)-in-law.
Medical / Engineering / Management courses leading to graduate / post graduate education only from NAAC accredited institutions or accredited by NBA or Institutions of National Importance or Central Funded Technical Institutions. Medical courses should have been approved by Medical Council of India (MCI).
Loan in Subsequent Years of Course-
Educational loans can also be considered for eligible students in case the student approach the bank in the subsequent years of the course provided the student has not availed loan for initial years from any other bank / FI.
Need based finance to meet the expenses worked out will be considered taking into account margins norms.
The minimum quantum of loan under the Scheme should be above ₹7.50 lakh.
The maximum quantum of loan under the Scheme will be Rs.15.00 lakh for inland studies & Rs.30.00 lakh for abroad studies.
Study in India – 5%
Study Abroad – 15%
Tuition fee payable to college/ school/ university
Hostel / mess charges
Examination/ Library/ Laboratory fee
Insurance premium for the student borrower
Purchase of books/ equipment’s/ instruments/ uniforms
Purchase of computer/laptop at reasonable cost, if required for completion of the course
Travel expenses/ passage money for studies abroad
Any other expense required to complete the course – like study tours, project work, thesis, etc.
The maximum repayment tenure will be 15 years (after course & moratorium period).
The accrued interest during the moratorium period (if not serviced) will be added to the principal amount while calculating Equated Monthly Installments (EMI) for repayment.
Rate of Interest-
Please check latest interest rates at official site of bank.
If interest is regularly serviced during the course and moratorium period, i.e. prior to the commencement of repayment, then the student is eligible for interest rebate**.
Mortgage of Agricultural land as collateral security subject to following conditions:
Agricultural properties will be accepted as Collateral Security for Education loans, only in States where it is permitted to mortgage Agricultural Land for purpose other than Agricultural Activities.
Agricultural Land accepted as collateral security should be properly demarcated with boundaries and easily accessible/marketable.
Life insurance of the student is mandatory to the tune of the loan amount.
**Contact Union Bank’s nearest Branch for more details**
For more details visit: https://www.unionbankofindia.co.in/english/union-kisan-shiksha-suvidha.aspx
Top 5 Ag Universities for Ag MBA in the US
30 June 2023 - If you're looking to advance your career in the field of...
Cheapest Agriculture Universities in Canada
29 June 2023 - Affordable Options for Agricultural Studies When it comes to...
Top Five Agri Career Mistakes
25 June 2023 - Agriculture is an industry that offers numerous opportunities for...