UNION EDUCATION (union bank)

OBJECTIVE & PURPOSE The scheme aims at providing financial assistance on reasonable terms: To the poor and needy students that they may undertake basic education To meritorious students that they may pursue higher or professional or technical education

ELIGIBILITY The student applying for UNION EDUCATION Loan ought to: Be an Indian National Has secured admission to professional or technical courses through an appropriate Entrance Test or selection process Has secured admission to a foreign University Has passed an appropriate qualifying examination Studies in India School education up to +2 Graduation/Post-Graduation Professional course Management course Special Education Loan Scheme for Students pursuing courses from approved institutions like IITs/IIMs/ /NIT XLRI/BITS/VIT/IISc/S.P. Jain Institute Of Management/Symbiosis Institute Of Management and T.S. Chanakya, Navi Mumbai- Nautical Science and MERI, Calcutta, Marine Engineering, MERI, Mumbai, Maritime Science. Studies Abroad : Graduation: For job-oriented professional or technical courses offered by reputed universities Post-Graduation: MCA, MBA, MS and such other courses Courses conducted by CIMA, London, CPA, USA., and such other institution PURPOSE To the poor and needy students to undertake basic education To meritorious students to pursue higher or professional or technical education CONDITIONS The Parent/Guardian of the student who is availing loan from our bank shall be made co-obligator/joint borrower irrespective of the age of such students. The Loan Accounts of students applying through college/institutions will be sanctioned/disbursed at the branch nearest to permanent residence/place of domicile of the borrower student. Loan will be disbursed directly to the college/institute. Student to produce mark list of previous term/semester before availing next installment. Student /Parent to provide latest mailing address before availing next installment. In case of parents with transferable job, new address to be provided before availing installments. QUANTUM OF LOAN Need-based finance subject to repayment capacity of the parent or student with margin and upto the following ceilings For studies in India - Up to Rs. 10 lacs For studies abroad - Up to Rs. 20 lacs MARGIN No margin for loans up to Rs. 4.00 lacs . However, for loan of higher amounts, the margin requirement is 5% for inland studies and 15% for studies abroad. Scholarship/assistance to be included in margin. Margin maybe brought in on pro-rata basis as and when disbursement is made. REPAYMENT Repayment holiday or Moratorium on loan: Course period + 1 year OR 6 months after job placement, whichever is earlier. Starting from this point, the loan is to be repaid in 5-7 years after completion of course period/moratorium. RATE OF INTEREST(w.e.f 01.04.2009) For Male Student : Up to Rs. 4.00 lakhs : 11.75% (Fixed) Above Rs. 4.00 lakhs upto Rs.7.50 lakhs : 12.50% (Fixed) Above Rs. 7.50 lakhs : 12.00% (Fixed) For Female Student: Up to Rs. 4.00 lakhs : 11.25% (Fixed) Above Rs. 4.00 lakhs upto Rs.7.50 lakhs : 12.00% (Fixed) Above Rs. 7.50 lakhs : 11.50% (Fixed) For Special Education Loan Scheme : Special scheme For IIM students : 10.50% for Male : 10.25 % for Female Special Scheme for BSc in Nautical Science,Marine Engg,Maritime Science : 11% Special Scheme IIT/NIFT students: 10.50% for male : 10.25% for Female Special Scheme for XLRI.BITS/VIT/IISC/SYMBOISIS/SP JAIN/NIT : 11.00% Special Scheme for students of ISB(Indian School of Business) only for Hyderabad : 10.50% for male 10.00% for Female Special scheme for students of Asian Institute of Management : 11.00% Simple interest will be calculated during repayment holiday/moratorium period. Interest rate is fixed and will not undergo any change till the loan amount is repaid in full. PROCESSING CHARGES NIL SECURITY Upto Rs. 4 lakh : No security Above Rs 4 Lakh & upto Rs 7.5 lakh : a suitable third party / personal guarantee However for loans above Rs 7.5 lakh, Collateral security of suitable value along with co-obligation of parents / guardian / third party / accompanied by assignment of future income of student for the payment of installments is required A Life insurance policy from Insurance company for a sum not less than the loan amount is required to be taken in the name of the student and duly assigned in favour of Union Bank. OTHER CONDITIONS Loans can be considered for eligible students in case they approach the Bank in the subsequent year of the commencement of the course. Branches can issue Bank Guarantee, for payment seats wherever required. No Prepayment penalty if the loan is adjusted by the borrower from his own verifiable legitimate sources or genuine sale. However, 2% charged on an average o/s. balance of last 12 months if loan is closed on take over by other Banks / Financial Institutions The Loan Accounts of students applying through college/institutions will be sanctioned/disbursed at the branch nearest to permanent residence/place of domicile of the borrower student. No Pre-Payment penalty for self-closure. However, 2% charged on an average o/s. balance of last 12 months if loan is closed on take over by other Bank/FIs

EDUCATION LOAN SCHEMES (punjab)

EDUCATION LOAN SCHEMES

1. Objective of the scheme: The educational loan scheme outlined below aims at providing financial support from the banking system to deserving and / meritorious students for persuing higher education in India and abroad. The main emphasis is that every meritorious student though poor is provided with an opportunity to persue education with the financial support from the banking system with affordable terms and conditions. No deserving student is denied an opportunity to persue higher education for want of financial support.

2. Applicability of the Scheme: The scheme detailed below could be adopted by all commercial Banks. The scheme provides broad guidelines to the banks for operationalising the educational loan scheme and the implementing bank will have the discretion to make changes suiting to the conveninence of the students / to make it more customer friendly.

3. Eligibility Criteria :

3.1 Student Eligibility :

• Student should be an Indian National
• Secured admission to professional / technical courses in India or abroad through entrance Test / Merit Based Selection process.

3.2 Courses Eligible:

(a) Studies in India : ( Indicative List)

• Graduation courses : B.A. B.Com, B.Sc., etc.
• Post Graduation courses : Masters & Phd.
• Professional Courses: Engg. , Medical, Agriculture , Veterinary, Law ,Dental, Management , Computer etc.
• Computer certificate courses of reputed institutes accredited to Deptt. of *electronics or institutes affliated to university.
• Courses like ICWA , CA , CFA etc.
• Courses conducted by IIM, IIT, IISc , XLRI, NIFT, etc.
• Courses offered in India by reputed foreign universities .
• Evening courses of approved institutes.
• Other courses leading to diploma / degree etc. conducted by colleges/ universities approved by UGC/ Govt/ AICTE /AIBMS/ ICMR etc.
• Courses offered by National Institutes and other reputed private institutions. Banks may have the system of appraising other institution courses depending on the future prospects/recognition by user institutions.
  

(b) Studies Abroad :

• Graduation For job oriented professional/technical courses offered by reputed universities.
• Post Graduation MCA,MBA,MS etc.
• Courses conducted CIMA-Londin, CPA in USA etc.

3.3 Expenses considered for Loan

• Fee payable to College/School/hostel.
• Examination/library/laboratory fee.
• Purchase of books/equipments/instruments/uniforms.
• Caution deposit/building fund/refundable deposit supported by institution bills/receipts.
• Travel expenses/passage money for studies abroad.
• Purchase of computers-essential for the completion of the course.
• Any other expense required to complete the course- like study tours, project work, Thesis etc.

4. Quantum of Finance.

Need based finance subject to repaying capacity of the parents/students with margin and the following ceilings.

Studies in India - Maximum Rs. 7.50 lacs
Studies abroad - Maximum Rs. 15.00 lacs.

5. MARGIN

Upto Rs. 4.00 lac : NIL
Above Rs. 4.00 lac : Studies in India : 5%
Studies Abroad : 15%

Scholarship/assistantship to be included in margin.
Margin may be brought in on year to year basis as and when disbursements are made on a pro-rata basis.

6. SECURITY

Upto Rs. 4.00 lac : No Security

Above Rs. 4.00 lac & : Collateral in the form of a suitable third party

Upto Rs. 7.5 lac guarantee. The Bank may, at its discretion waive third party guarantee if satisfied with the net worth/means of parent who would be executing the documents as “joint borrower.”

Above Rs. 7.5 lac Collateral security of suitable value or suitable third party guarantee alongwith the assignment of future income of the student for payment of installments.

NOTE :

• The loan documents should be executed by both the student and the parent/guardian as joint borrower.
• The security can be in the form of land/building/Govt. securities/Public Sector Bonds/Units of UTI,NSC,KVP,LIC Policy, gold, shares/debentures, bank deposit in the name of student/parent/guardian or any other third party with suitable margin.
• Wherever the land/building is already mortgaged, the unencumbered portion can be taken as security on II charge basis provided it covers the required loan amount.
• In case the loan is given for purchase of computer the same is to be hypothecated to the Bank.

Banks who wish to support highly meritorious/deserving students without security may delegate such powers to fairly higher level authority.

7. RATE OF INTEREST

(a)The concession of 1% additional interest on account of service shall be governed by HO PS Circulatory letter No.67/2004 dt 15.12.2004 as already laid down under the scheme.

(b)Further, an additional benefit of 0.50% will be applicable to those borrowers (including staff) who offer additional collateral covering 100% of the loan amount.

Simple interest to be charged during the Repayment holiday/moratorium period Penal interest @ 2% be charged for above Rs. 4.00 lacs for the overdue amount and overdue period.

8. APPRAISAL/SANCTION/DISBURSEMENT

• In the normal course, while appraising the loan the future income prospects of the student will be looked into. However, where required, the means of parent/guardian could also be taken into account to evaluate re-payment capability
• The loan to be sanctioned as per delegation of powers preferably by the Branch nearest to the place of domicile.
• No application for educational loan received should be rejected without the concurrence of the next higher authority.
• The loan to be disbursed in stages as per the requirement/demand directly to the Institutions/Vendors of books/equipments/instruments to the extent possible.

9. REPAYMENT

Repayment holiday/Moratorium : Course period + 1 year or 6 months after getting job, whichever is earlier

The loan to be repaid in 5-7 years after commencement of repayment. If the student is not able to complete the course within the scheduled time , extension of time for completion of course may be permitted for a maximum period of 2 years. If the student is not able to complete the course for reasons beyond his control, sanctioning authority may at his discretion consider such extension as may be deemed necessary to complete the course.

• The accrued interest during the repayment holiday period to be added to the principal and repayment in Equated Monthly Instalments (EMI) fixed.
• 1% interest concession may be provided for loanees if the interest is serviced during the study period when repayment holiday is specified for interest / repayment under the scheme.

10. FOLLOW UP

Banks to contact college/university authorities to send the progress report at regular intervals in respect of students who have availed loans.

11. PROCESSING CHARGES

No processing/upfront charges may be collected on educational loans.

12. CAPABILITY CERTIFICATE :

Banks can also issue the capability certificate for students going abroad for higher studies. For this financial and other supporting documents may be obtained from applicant, if required.

(Some of the foreign universities require the students to submit a certificate from their bankers about the sponsors’ solvency/financial capability ,with a view to ensure that the sponsors of the students going abroad for higher studies are capable of meeting the expenses till completion of studies).

13. OTHER CONDITIONS :

No due certificate need not be insisted upon as a pre-condition for considering educational loan. However, banks may obtain a declaration/an affidavit confirming that no loans are availed from other banks.

Loan applications have to be disposed of within a period of 15 days to 1 month, but not exceeding the time norms stipulated for disposing of loan applications under priority sector lending.

In order to bring flexibility in terms like eligibility, margin, security norms, banks may consider relaxation in the norms on a case to case basis delegating the powers to a fairly higher level authority.

Indian Bank’s Home Loan Scheme

HOME LOAN to Resident Individuals:
	Eligible Applicants:
	Applicants having sufficient, regular and continuous source of income for servicing the loan under the following categories: Salaried Class with minimum service of three years Businessmen, Professionals and Self-employed with minimum experience of three years Pensioners with repayment capacity
	Age criteria:
	Maximum permissible age at the time of applying : 50years Maximum permissible age at the end of repayment period : 60 years Relaxable by 10 years, if found viable by Bank
	Purpose of Loan:
	For purchase / construction of House / Flat Quantum of Loan: 36 times of Gross Monthly Income or 60 times of Net Monthly Income whichever is higher. Spouse income can be included for calculating eligible loan amount, provided he/ she has steady income Take home Income should be more than 40% of gross income after deduction of EMI for the proposed loan, apart from other deductions. Disbursement: For outright purchase of ready-built house / flat : Lump sum directly to the seller / builder For construction: In stages as under: a) Purchase of Land / upto basement : 30% b) Upto Lintel : 20% c) Upto Ceiling : 20% d) on completion : 30% Maximum Repayment Period: Loans for purchase / construction of House / Flat : 20 years (including holiday period) for floating rate loans and 10 years (including holiday period) for fixed rate loans Maximum Holiday Period of 18 months allowed for Home Loans for the purpose of construction of House / Flat. Rate of Interest w e f 01.07.2009: All our Home Loan Floating interest rates are linked to our BPLR (presently 12.00%) Service Charges: Processing Charges : 0.25 % on Loan amount (Non refundable) (to be remitted at the time of submission of application) Administrative Fees : 0.32 % on Loan amount (at the time of acceptance of sanction) Engineer valuation fee and legal opinion charges to be borne by the Applicant. Pre-closure charges: No pre-closure charges, if loan is closed out of own funds. 2% on Balance outstanding or applicable Drawing Limit whichever is higher, if loan is closed by way of take over by another Bank / Financial Institution. Security: Equitable Mortgage of the property. If the home loan property could not be offered as security for valid reasons, alternate property, the value of which is more than 2 time of the loan amount may be accepted. Equitable Mortgage to be registered (at Applicant’s cost) if there is a provision for the same in the State where property is located Group Insurance cover (IB Griha Jeevan): At the option of the applicant, Group Insurance Life Cover is arranged (at present through L I C) at concessional premium (to be borne by the Applicant). The Applicant may opt for including the premium amount as part of Home Loan Project Cost. Checklist of documents required for processing Home Loan Proposals: Completed Application Form with passport size photograph Proof of Identity such as PAN Card / Voter’s ID/Passport/Driving License Proof of residence such as Recent Telephone Bill / Electricity Bill / Property Tax Receipt / Passport / Voter’s ID Proof of business address in respect of businessmen / industrialists Proof of Employment Salary Certificate Proof of other income like rent, interest on investment, if any Income Tax / Wealth Tax (if applicable) Returns for the past 3 years Balance Sheet for the past three financial years in the case of Professionals, Businessmen & Self employed Agreement of Sale / Sale Deed Approved Building Plan Title Deed Documents for 30 years Patta Loan for purchase of House Sites is given with interest rate at 10.00% floating and margin of 33%. Maximum Loan amount is Rs.10 lakhs and max. repayment period is 10 years

Consumer Power in Axix bank india

Consumer Power

Easy and affordable consumer loans

Need to turn your house into a home?

Axis Bank's Consumer Power scheme will help you acquire the consumer durables you need. Because we know it takes a lot more than four walls to make a home. A new TV, a washing machine, a refrigerator or an AC... the possibilities are endless.

Terms

You can apply for as little as Rs 25,000, or as much as Rs 2 lacs. The maximum loan amount cannot exceed 85% of the cost of the durable, or 12 times your net monthly salary (or equivalent of net annual income for self-employed persons), whichever is lower. You are charged a competitive interest rate, and you can choose to repay your loan in 12, 24 or 36 Equated Monthly Installments. If you are a salaried employee, your Equated Monthly Installments will be collected directly from your employer under the check-off facility. For others, post-dated cheques will be collected.

Asset Power (Loan Against Property)

Asset Power (Loan Against Property)

Your property now equals ready cash

Need to generate some money off your assets?

Apply for Axis Bank's Asset Power. We will give you a loan against your property. Be it commercial or residential. You can also apply for this loan if you need funds to acquire new property. A take-over of your existing loan with refinancing is also possible with Asset Power.

Features

Attractive interest rates

Balance Transfer facility available with additional finance

Doorstep service

You can avail the following four products under Asset Power

Loan against property - Residential

Loan against property - Commercial

Loan for purchase of commercial property

Take-over of existing loan with additional refinance (Balance Transfer)

Lease Rental Discounting (LRD)

Audit Software Program

Forensic Loan Auditing is a growing market field by the slump of the real estate market and growing economic turmoil. More and more homeowners need a forensic loan audit on their loan documents to help them save their home or build a legal case. Forensic Loan Auditing consists of uncovering violations on loan documents the borrower received when they obtained their home or refinanced their home. Forensic Loan Auditing is a great way to help save their home from foreclosure or build a legal case against the lender/bank which gave them the loan. This way the lender/bank will know they have violated lending laws and will have an incentive to either do a loan modification or refinance the house into a better rate. Forensic Loan Audit Software Program allows you to do a forensic loan audit and uncover violations and have the supporting laws for you cited instantly in a report to send to the lender. 

Forensics Plus offers a forensic loan auditing software which automatically cites specific laws and violations and prints out a report to send to the lender. They also give you a forensic loan audit guide which helps you learn about forensic loan auditing and apply it to your audits. The software is regularly priced at $499, they are currently offering both the forensic loan audit software and guide for only $97.

Forensic loan mortgage audit software program

Learn forensic auditing for home mortgages with our forensic audit guide. The guide shows you how to conduct a forensic audit simply and easy. Each step is outlined and written for you in an easy to read format. 

Learn Forensic Loan Auditing 
Violations covered and explained 
Tila laws explained 
Respa Laws covered 
Hopea laws covered 
Apr violations explained


For a limited time offer purchase our forenisc loan audit guide, and receive the forensic loan software free as a bonus. 

Forensic Loan Audit Guide 
Forensic Loan Audit Software


Forensic Loan Audit Guide
The Forensic Loan Audit Guide is a comprehensive Manual which shows you how to conduct a forensic loan audit. It outlines key violations and explaines the different laws which are subject to vioations to the lender. Each law is explained and detailed with the appropriate violations outlined. In addition, it explains the forensic loan process and more. 

Learn Forensic Loan Auditing 
Explains Process 
Explains Violations and Laws 
TILA Laws Covered 
Respa Laws Covered 
Apr violations explained 
Laws Explained with descriptions


Forensic Loan Audit Software
Complete a forensic loan audit on residential mortgages/home loans with Forensic Loan Software Plus. The software is a professional solution to automatically uncovering violations and exporting a report outlining each specific law violated on the loan. This report can then be sent to the lender. Each report cites the specific laws of the violations and why it is a violation. Tila, Respa, Hoepa, APR, mortgage fees, and more cane be automatically audited using the software. 

Automatically Uncover Violations 
Software will specify which laws loan violates 
Complete Report Printed and sent to lender 
Calculates APR violations 
Audit Mortgage Fees and more. 
Tila violations automatically uncovered 
Respa violations automatically uncovered 
Hoepa Violations Uncovered 
Automatically calculates Apr 
Plus More

Loan calculation calculater

Introduction
TSC - Loan Calculation Software is a full featured loan calculation software that will calculate your loans completely and precisely to the penny. With a simple user-friendly interface, TSC - Loan Calculation Software will display a graphical representation of where your payment is going, an integrated side-by side savings calculator and the yearly details of the loan.
This is your complete and precise source for financial software products and expertise. Walk in and explore the finest software selection of award winning loan management and amortization schedule preparation applications.
Click Here for a free 30-day Trial Download
Features

Express Edition
Advance Edition
Loan calculation of the 4th missing parameter
Variable Interest Rate Calculation
Side-by-Side Loan Savings Calculator
Multiple Currency Support
Custom Logo
Detailed Loan Amortization Printout
New Version check/auto-update
Amortized Loan Details Preview
Loan Graphed Output Preview

Multiple Calculation Methods
Multiple Compounding Periods
Payment Coupon Printouts
Late Payment Calculation (for coupon printouts)
Detailed Customer information
Customer Database

ALL NEW - Multiple currency support and formats:
Loan Calculation: TSC - Loan Calculation Software provides a quick and easy way to compare loans and Loan options. Enter any one of three figures -
Principal
Payment Amount
Interest Rate
Payment Terms
and TSC - Loan Calculation Software will compute the fourth. Does amortization's for fixed, variable, biweekly, and other types of mortgages or loans, and payment schedules can be weekly, biweekly, monthly, quarterly, semiannually, or annually. Annual and per-payment subtotals can be easily displayed. Interest can be computed using a variable interest rate.
Principal calculation
Variable Interest rate calculation
Terms calculation
Outputs:
Several different results will be displayed: A Loan breakdown of all the details of each payment including a yearly summary. A yearly breakdown of the loan and a graphical representation of the loan details.
Display of the Loan Details
Yearly Totals
Graphic Result of the Loan
Printouts:
Professional quality printouts can be created with customization. Payment schedules with loan details, ALL NEW coupon payment printout, with the calculation of late payment fees.
Printout - Payment Details
Printout - Payment Coupons

Savings Calculator:
Also included is a savings calculator that will display the savings difference between two loans side by side. Scenarios can be saved and reopened for comparisons. Add an extra amount to the payments and view the savings of the overall loan as well as how soon the loan will be paid off. Modify the principal or interest to view the difference of two loans and accurately decide between the benefits and downfalls between the loans.
Side-by-side loan comparison

Options:A variety of prepayment options let you compare effects on principal, compute the amount necessary to shorten the term to a specified number of payments, and more. Install/un-install is via Astrum InstallWizard.
System Requirements - TSC - Loan Calculation Software
TSC - Loan Calculation Software minimum system requirements
200 MHz Intel Pentium processor or equivalent Windows 95, Windows 98, Windows 2000, Windows XP, Windows ME and Windows NT 432 MB RAM (64 MB recommended) 10 MB available disk space Screen Resolution 800 X 600

Support
All of our TSC - Loan Calculation Software registered customers are entitled to receive FREE upgrade versions of TSC - Loan Calculation Software and customer support for one year. Please visit our Help Center or browse the FAQ's to learn if the answer to your question is already available before contacting Customer Care.

Loan Servicing Software

Welcome to Bottom Line Software, Inc.

Home of the LoanMaster(tm), loan servicing software system for loan accounting, servicing, and tracking functions. LoanMaster has been in use continuously since 1982. It was designed and developed by bankers who knew what lenders need and wanted. It was specifically designed for small lenders. It provides all the functionality a small lender needs.
There is a great deal of information here about the LoanMaster system. You can browse through the site and find out most anything you want to know about loan servicing.
If you can't find it, feel free to call the office and ask.
If you are in a hurry, you can access the site index or the product description pages immediately from right here:
LoanMaster works with Vista but we do not recommend it. See the following for solutions to problems with SOME Vista intallations. Vista Errors and settings
Every report we get from our customers about Vista is negative as to all software ( including Micrsoft Office )
Click here: for Product Information
Click Here: for the Site Index Click Here: for - Short Easy LoanMaster Software LessonsClick Here: for Answers to Frequently Asked Questions
Other Quick Links:Servicing FeaturesSoftware Evaluation PlanLoan Software, Custom SystemsSoftware Systems, Pre-purchase QuestionsLoanMaster Software PricesLoanmaster Demo Download PageLoan Servicing Features and DownloadLoanMaster Upgrade Program DownloadLoan Accounting Software What's new
Bottom Line Software has been in business creating and supporting software systems for loan servicing since 1984. Our servicing system is the result of many years experience creating and managing loan servicing systems for banks and savings and loan associations.
Loan servicing software is our specialty. We have a standard system for those with standard servicing needs but we create completely custom servicing systems for those those with more complex needs.
The software is 100% Microsoft. The database is Microsoft, the development system is Microsoft. They are developed and tested exclusively for Microsoft operating systems and networks.
We hope you will take a few minutes to peruse the site and learn about our system but if you just can't wait, you can click here: LoanMaster Demo Download Page and go directly to the downloads page.