Study Abroad: Fly Finance and UBISL Partner to Offer Education Loans for Abroad Studies

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Home » News Updates » Study Abroad: Fly Finance and UBISL Partner to Offer Education Loans for Abroad Studies

Fly Finance, (the financial service platform of Leverage Edu) has partnered with Union Bank of India Services Limited(UBISL) to offer special education loan schemes for Indian nationals. Those Indians who are seeking admission to study abroad can avail of this facility. 

The loan scheme is specifically designed for students pursuing full-time postgraduate courses. The students must have secured admission through entrance examinations conducted by recognized universities, institutions, and other approved authorities.

Fly Finance and UBISL Partner to Offer Education Loans for Abroad Studies
Fly finance UBI

Aim of the Fly Finance-UBIsl Partnership

This initiative will benefit the students seeking to pursue higher studies abroad. Eligible students can get an unsecured education loan of up to 40 lakhs for listed universities. Also, a candidate can get a secured education loan of up to 1.5 Crore for listed as well as non-listed universities. Let us explain more about this education loan:

Expenses Covered: The loan will cover the following expenses.

  • Tuition Fee payable to the institution
  • Purchase of Books/Equipment/ uniforms
  • Purchase of computer/laptop at reasonable cost, (if required to complete the course)
  • Examination/ Lab/ Library fee
  • Hostel/ Mess Charges
  • Travel Expenses/ passage money for studies abroad
  • Caution deposit, building fund/ receipts /refundable deposit supported by institution bills
  • Insurance premium for the student borrower
  • Other expenses required to complete the course-study tours, thesis etc.

Moratorium Period: The moratorium period is the time when the borrower is not required to repay the loan. The moratorium period is a course period + 1 year.

Repayment Period– It is the total duration of time over which you spread your loan EMI payments to pay off the entire loan. The repayment period is  180 months/ 15 years (after the Moratorium period)

Processing Charges– No processing charges are to be levied. However an upfront fee of INR 5000 will be charged to the student, and it will be refunded if the student avails loan within a period of 3 months from the date of Sanction.

SOME uNIVERSITIES AND THE COURSES

Some of the top universities and the list of eligible courses are mentioned in the table below:

Name of College/UniversityCountryCourse List
Stanford UniversityUSA


Management Courses, Law, Economics & Econometrics, STEM, Arts, Performing Arts, Design and Medical
Harvard UniversityUSALaw, Medical, Economics & Econometrics, Performing Arts, Art, Management courses and Public Policy
University of OxfordUKMedical Courses, Law, Economics & Econometrics, STEM, Performing Arts, Art, Management Courses and all other courses
University of CambridgeUK
Medical Courses, Law, Economics & Econometrics, STEM, Performing Arts, Art, Management Courses and all other courses
University of TorontoCanadaMedical Courses, Law, Economics & Econometrics, STEM, Design, Performing Arts, Art, and Management
University of British ColumbiaCanadaMedical Courses, Law, Economics & Econometrics, STEM, Design, Performing Arts, Art, and Management
University of MelbourneAustraliaMedical Courses, Law, Economics & Econometrics, STEM, Design, Performing Arts, Art, and Management

Fly Finance primarily focuses on student remittances and education loans. So, the Fly Finance-UBI partnership aims to provide affordable education loans to Indian students. It will help them achieve their dreams of pursuing higher education in renowned institutes abroad. 

For more exciting news updates, make sure you contact Leverage Edu.

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