Purpose of Loan

For pursuing higher studies, in India & Abroad


Student should be an Indian National having secured admission to Professional / Technical courses through entrance test / selection process. Age: 16-35 years. The Mother / Guardian shall be the Principal Borrower and Major Student shall be the Co-borrower.

Nature of Facility

Term Loan

Calculation of Eligible Loan Amount

For payment of Tuition fees, Hostel fees, caution deposit, refundable deposit, admission, examination, library, laboratory, cost of books, equipments, uniforms, computer, if necessary. One-way air passage in case of studies abroad. Reimbursement of admission fees, cost of books, airfare etc., if already incurred, within 2 month for studies in India and 3 months for abroad.

Maximum loan amount

Rs.10 Lac for studies in India.

Rs.20 Lac for studies Abroad.


Loan Amount up to Rs. 2 Lac: NIL

Loan amount above Rs.2 Lac - In India 5%

Abroad 15%

(Scholarship may be included in margin.)

Rate of Interest (Irrespective of Amount of Loan and Place of study i.e. India or Abroad)

Normal Student

IIT/ IIM/ PMT Students





  • Interest shall have to be serviced during the study period when Repayment Holiday is specified.
  • Interest shall be calculated at simple basis during Repayment Holiday / Moratorium Period.
  • Interest will be compounded on monthly rests from the due date of first instalment.


Payment directly to college / hostel / mess / airlines etc. In appropriate cases disbursement to be made to borrowers subject to satisfactory evidence. Original receipts to be submitted.


Repayment to commence 12 months after completion of course / studies or 6 months after securing job, whichever is earlier. Maximum period of repayment of loan shall be 5 to 6 years. Repayment on EMI basis.


1.  Collateral security of suitable value to the satisfaction of the Bank

2.  Third party Guarantee to the satisfaction of the Bank

3.  Co-obligation of parents/ guardians

4.  Assignment of future income of the student for payment of instalments

Important Note:

There should be LIC Policy of Loan amount in the name of the student in all loan accounts.

Terms & Conditions apply: Loan at the sole discretion of The Udaipur Mahila Urban Cooperative Bank Ltd.

All disputes arising out of this scheme shall be decided by the Courts under Udaipur jurisdiction.