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All you need to know about UBI education loan for studying abroad
Established in 1919 as a limited company, the Union Bank of India (UBI) later became a nationalized bank in 1969. The bank provides a range of banking and financial services, including personal banking, corporate banking, international banking, and education loans for studies in India and abroad. In 2020, the Union Bank of India merged with Andhra Bank and Corporation Bank, becoming the fifth-largest public sector bank in India.
Union Bank of India offers both secured and unsecured loans. UBI has further divided courses and universities into lists and offers loans according to them.
|Secured loan - Upto INR 1.5 cr (This amount can be increased depending on the student’s profile) Unsecured loan - INR 40 Lakh
|Rate of interest
|9.25% - 9.75%
|INR 5000 (Refundable if disbursement within 3 months of sanction)
|Secured loans - 10% (Listed universities) Secured loans - 15% (Non - listed universities) Unsecured loans - 15%
|Course duration - 12 months
The documents required for an education loan from UBI include your academic and professional history, your co-applicant financial and credit profile, and the location of the property or asset, which you offer as collateral.
The list of documents required for collateral, depends on several factors, primarily: property type, purchase history, and location.
To contact UBI for an abroad education loan, you can choose one of the following methods:
To secure an education loan from UBI, you can apply online at the UBI website. Once you fill out the application form online, you will have to visit the nearest UBI branch with all your documents. To avoid all these complex steps, you can simply apply for your education loan via GyanDhan, an online platform that helps students in India to finance their education abroad.
(Principal + Interest)
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