Welcome to

Students of IIM-Kozhikode
 Table of Contents

#1 Union Bank of India- At a Glance

#2 Union Education- Special Scheme for IIMs

#3 List of documents required from Student

#4 Digital presence of Union Bank of India

#5 Awards received by UBI for FY 2017-18

#6 Contact Details

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 At a glance

First PSB to become 100% CBS

First PSB to roll out Mobile Banking
First PSB to allow Self User Creation in Internet Banking

73% of total transactions are in e- mode

First bank to introduce Self service Pass Book
 At a glance

Fifth largest PSB in India

Business Mix of 7.22 lakh Crore
4300 + branches & 7600 + ATMs across the country
5.5 Million customer base
2.5 million + Mobile/ SMS banking users
1.3 Million Internet banking users
 UNION EDUCTION-
SPECIAL SCHEME FOR IIMs
Union Bank Of India designed a special scheme called UNION
EDUCATION- SPECIAL SCHEME FOR IIMs to help exceptionally
meritorious students who have secured admission in Indian
Institute of Management (IIM) for 2 years Post Graduate
Programme in Management Studies. This special scheme
includes provisions like Lowest interest rate, no co-applicant,
no collateral security/third party guarantee, nil student
margin, no processing charges etc.,
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 SPECIAL EDUCATION SCHEME FOR IIMs

Purpose:
To meet tuition fees, cost of books, caution deposit, hostel
charges, mess charges, equipment such as desktop/laptop, living
expenses, insurance premium, expense for student exchange
program, admission acceptance fee etc.,

Eligibility:
Students who have secured admission in IIM for 2 year full time
flagship post graduate program in management (PGP).

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 SPECIAL EDUCATION SCHEME FOR IIMs

Quantum of Loan: Rs. 30.00 lacs

Margin (Student Contribution): Nil

Reimbursement of fee: Reimbursement of admission

acceptance fee (AAF) & term fee is available to the student
who has paid at the time of admission within the overall limit
of Rs. 30.00 lacs

Mess charges/ Living expenses: In case where the mess

charges/ living expenses are not mentioned / indicated in the
fee structure provided by the institute, expenses can be
sanctioned up to Rs. 2,40,000 /- per 2 years i.e., Rs.10, 000/-
per month.

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 SPECIAL EDUCATION SCHEME FOR IIMs

Student exchange programme: Can consider loan at the

time of initial sanction for the student exchange programme
which includes fee payable at the institute abroad along with
lodging & Boarding expenses, Travel expenses for passage
abroad and living expenses within overall limit of Rs. 30.00
lacs

Interest rate: 8.45 % (1 Year MCLR*)

Processing charges: Nil

* As per Union Bank Of India policy present 1 year MCLR (Marginal Cost of Funds based
Lending Rate) is 8.45%

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 SPECIAL EDUCATION SCHEME FOR IIMs

Moratorium period: Course period + 1 year

Repayment period: 15 years (Apart from Moratorium period)

Co- applicants: Not required

Guarantors: Not required

Security: No Collateral security or no third party guarantee

Insurance: Term life insurance policy for the loan amount in the
name of student must be assigned in favor of the Bank. Premium
amount can be included in the loan amount.

* Policy premium can be arrived based on age & loan amount.

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 SPECIAL EDUCATION SCHEME FOR IIMs

Interest Subsidy: For loan up to Rs. 10.00 lacs full Interest

subsidy will be provided for interest charged during the
moratorium period where student’s parental family annual
income comes only up to Rs. 4.50 lacs.

2nd Education loan: Students who have availed 1st

education loan from our Bank or other Banks for graduation
studies may approach us for sanction of 2nd Education loan
under this scheme.

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 List of Documents

Application form & credit information (Bank format)

Aadhaar Card & Pan Card
Admission letter from IIM and fee structure for the course
Advance fee payment receipt
Marks lists from 10th class onwards
CAT score card
4 Passport size photos
Income certificate for availing interest subsidy
Identity card issued by IIM (Only for 2nd year students)
Bank Statement (If existing education loan with other banks)

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 Digital Banking Solutions

ATM
PoS
Internet
Banking
Credit Cards

Debit Cards and

Selfie Account Opening Prepaid Cards
Mobile Banking
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For further details please contact our Bank’s Retail Branch

Union Loan Point

Colombo complex, MM Ali Road,
Palayam, Kozhikode

&

Union Bank of India

Kunnamanagalam Branch

Mob: 9819252272, 9495098167, 7306222715

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