- What are the eligibility criteria for getting a Union Bank education loan?
- What is the rate of interest of the Union Bank of India education loan?
- What is the margin money on the Union Bank of India education loan?
- How much loan can be taken from the Union Bank of India education loan?
- What is the processing fee for getting a Union Bank education loan?
- What is the repayment period of the Union Bank of India education loan?
- What is the security required to be pledged for the Union Bank of India education loan?
- What are the documents required for a Union Bank of India education loan?
- At what locations in India can a student avail of a Union Bank of India education loan?
- Does the Union Bank of India provide education loan for all types of degrees and disciplines?
- The applicant should be an Indian national.
- The applicant should have secured admission in India or abroad to pursue higher/ professional/ technical education, through an appropriate selection process and cleared the qualifying examination (if any).
- If the applicant is NRI, s/he should hold an Indian Passport & has secured admission to a course for studies in India only.
- For loan up to Rs.7.50 lakhs - Co-obligation of parents and no security or third party guarantee.
- For loans above Rs. 7.50 lakh - Co-obligation of parents, and tangible collateral security equivalent to the full value of required loan amount.
- Address proof: passport, voter ID, electricity bill, etc.
- Academic record: 10th/12th mark sheet for undergrad students and graduation degree & mark sheet for PG students.
- Age proof
- Community certificate
- Family income proof: ITR, salary certificate, pension certificate of parent/guardian.
- Admission certificate or I20 from the college/university
- Fee details
- Collateral documents (if applicable): LIC policy, valuation certificate, registry documents, etc.
- An affidavit declaring that no study loan is availed from any other bank by the student and his/her parent.
Updated on: 14 Nov 2023
6 min read
One of the largest government banks in India, the Union Bank of India currently boasts over 9500 branches in the country. Union Bank of India amalgamated with the Corporation Bank and Andhra Bank on 1 April 2020. Union Bank of India student education loans are offered to deserving and meritorious students wanting to go for higher education in India or abroad. Student loans from the Union Bank of India come with flexible repayment options and repayment periods start after the course completion. One of the largest government banks in India, the Union Bank of India currently boasts over 9500 branches in the country. Union Bank of India amalgamated with the Corporation Bank and Andhra Bank on 1 April 2020. Union Bank of India student education loans are offered to deserving and meritorious students wanting to go for higher education in India or abroad. Student loans from the Union Bank of India come with flexible repayment options and repayment periods start after the course completion. Table of Content The education loan schemes of the Union Bank of India include expenses such as college fees, exam fees, hostel fees, equipment fees, books, travel money, etc for overseas education. It also takes in building fund deposits, caution deposits, and any refundable deposits as well. In this blog, we will explore all the features, requirements, and benefits of a Union Bank of India education loan. So, let's plunge in... Union Bank of India offers education loans to students at a fixed Interest rate of 12.25% p.a (for loans of more than INR 7.5 Lakhs). For loan amount less than INR 7.5 Lakhs, the applicable interest rate is 12.00% p.a. Female candidates get an extra 0.50% concession from UBI on the interest rate as per the Indian Government’s policy. There is no margin money on loan margin for the education loans up to INR 4 Lakhs. For the loan amount of more than INR 4 Lakhs, the margin money is up to 15% for abroad education and 5% for study in Indian colleges. Maximum Loan Amount For Indian Resident: No upper limit (need-based) Loan Tenure Up to 15 Years Interest Rate Up to Rs.7.50 lakhs: 12.25% p.a. Moratorium Period Course period + 1 year Margin Money Up to INR 4 Lakhs- Nil Processing Fees NIL The bank can sanction any amount on the need-basis for both studies in India and abroad if the student is an Indian resident. For NRI’s the maximum loan amount that can be sanctioned is INR 30 Lakhs. No processing fee is charged by the Union Bank of India under its education loan schemes. Fill in the form below Repayment of Union Bank of India study loan starts after 1 year of the course completion. The loan repayment period can be up to 15 years for all the loans. Students can apply for a Union Bank of India education loan at any branch in or near his/her place of domicile. Also Try - Education Loan EMI Calculator Union Bank of India Union Bank of India offers education loans, diplomas, undergraduate courses, and postgraduate courses which offer professional and technical degrees in India and abroad. Looking for an education loan to study abroad? Contact GyanDhan and avail of abroad education loans from top government banks, private banks, and NBFCs. At GyanDhan, we have partnered with leading financial lenders in India to offer the best deal on study abroad loans. For both secured and unsecured education loans, you can check your loan eligibility and see if you are qualified for a study abroad loan. Our loan assistance service is totally free of cost!
What are the eligibility criteria for getting a Union Bank of India education loan?
Union Bank of India Education Loan Interest Rate
What is the margin money on the Union Bank of India education loan?
UBI Education Loan Overview & Details
For NRIs: Up to INR 30 Lakhs
Above Rs.7.50 lakhs: 12.00% p.a.
Additional 0.50% concession for female students
For more than INR 4 Lakhs- 15% for studying abroad and 5% for Indian college/university
How much loan can be taken from the Union Bank of India education loan?
What is the processing fee for getting a Union Bank education loan?
Need free help in getting an abroad education loan?
What is the repayment period of the Union Bank of India education loan?
What is the security required to be pledged for the Union Bank of India education loan?
What are the documents required for a Union Bank of India education loan?
At what locations in India can a student avail of a Union Bank of India education loan?
Does the Union Bank of India provide education loan for all types of degrees and disciplines?

A vampire hunter, a renowned archaeologist, and an Oscar-winning filmmaker... Rahul is none of them. He is just a curious soul whose interest in education and finance sectors goes beyond his journalism degree and the monthly salary.

Aman Jain graduated from IIT Kanpur, and currently functions as the CMO at GyanDhan. He is deeply passionate about creating equality in higher education and has directly interacted with 2 Lakh students in his 8-year-long journey.
Specializes in:
Education loan ,
Study Abroad Admissions

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