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United Bank lowers rates for educational loansnews
Our Banking Bureau
05 May 2004

Kolkata: United Bank of India has reduced the rate of interest on educational loans under the United Educational Loan Scheme.

The rate has been cut from 10 per cent to 9 per cent for loan up to Rs 2 lakh and to 9.5 per cent for loan above Rs 2 lakh but not exceeding Rs 4 lakh. For loan exceeding Rs 4 lakh, the rate of interest has been reduced from 11 per cent to 10 per cent.

The revised rates came into force from May 1, 2004, according to a press release issued by UBI. There will be a concession of 0.5 per cent if the loan is serviced during the study period.

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United Bank lowers rates for educational loans