| If you want to apply for Educational Loans of United Western Bank, you can approach any branch of Industrial Development Bank of India. Since October 2006, all the branches of United Western Bank Ltd have started functioning as units of IDBI Ltd. |
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History of United Western Bank |
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As the history goes, United Western Bank was formed by W.G aka Annasaheb Chirmule in 1936. UWB gained the status of a scheduled bank in 1951. Later it saw two mergers, one with Union Bank of Kolhapur and another with Satara Swadeshi Commercial Bank Limited. UWB, later acting as a private sector bank, operated 230 branches in 9 states apart from its Zonal offices at Pune, Mumbai, Kolhapur, Nagpur and Jalgaon. |
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Merger of IDBI & UWB |
IDBI was formed as a Development Financial Institution in 1964. Later it became a full-fledged commercial banking company in the name of Industrial Development Bank of India Limited. This bank offers diverse services in corporate banking, agri-products, retail sector and SME Finance.
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The merger of IDBI and UWB came to force on 3rd October in 2006. |
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All the UWB branches have been operating as IDBI Ltd branches since then. |
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Whether you have deposited your money or availed of any other service of UWB Ltd., you can continue to use your account or the services as IDBI customers. |
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Important Documents |
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Academic records and admission approval. |
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Amount of Loan |
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Maximum amount of loan that can be granted for study in India: Rs. 7,50,000 |
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Maximum amount of loan that can be granted for study Overseas: Rs. 15,00,000 |
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| Processing period |
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A fortnight |
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| Rate of Interest |
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Amount exceeding Rs. 4,00,000: 13.5% p.a. |
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If the amountis Above Rs. 4,00,000: 13.5% p.a. |
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For study in India, for an amountupto Rs. 4,00,000: 13% |
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For study Overseas, for the amount upto Rs. 4,00,000: 13% |
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| Collateral and Third party Guarantee required. |
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| Tenures |
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Maximum of 7 years |
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| Repayment |
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After the completion of the course. |
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