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UBI Education Loan


Interest Rate

Starting from 9.25%

Processing Fees

INR 5,000

Margin Money


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Simple FIVE step digital process to get a education loan

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Upload Documents and Fill Out the Form

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UBI Bank Education Loan for Abroad Studies


All you need to know about UBI bank education loan for studying abroad

Anam Shams
Anam Shams

Reviewed By:   Aman


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.

Overview of Union Bank of India’s education loan scheme

Feature Description

Loan amount

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%

Processing fees

INR 5000 (Refundable if disbursement within 3 months of sanction)

Margin money*

Secured loans - 10% (Listed universities) Secured loans - 15% (Non - listed universities) Unsecured loans - 15%

Moratorium period*

Course duration - 12 months

Repayment tenure

15 years

*Moratorium period is the time duration during which you are not required to make payments toward your education loan.

*Margin money refers to the amount of money that a borrower is required to contribute towards the loan, while the remaining amount is paid by the lender.

Eligibility criteria of UBI abroad education loan


The applicant must be an Indian citizen and at least 18 years of age or older at the time of application.

Education qualification

To be eligible for an education loan, the applicant must have secured admission to a reputed university or institution for a program that leads to the degree or diploma they have chosen.

Academic performance

The applicant should have a consistently good academic record and must meet the minimum academic criteria set by the lending institution. Also, the student must fulfill any prerequisite tests such as GRE, IELTS, or TOEFL.


The co-applicant could be a parent or a legal guardian, with a regular source of income and good credit history.

Country of study

Foreign institutes/universities in the USA, UK, Canada, Australia, Singapore, Japan, Hong Kong, New Zealand, and Europe [Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Sweden, Switzerland, United Kingdom] will be covered under the scheme.


Under this scheme regular graduate degree/post-graduate degree/diploma/certificate/doctorate courses such as bachelor, master, MCA, MBA, MS, etc are covered. UBI also offers loans for the following courses:

  • list items Courses conducted by CIMA- London, CPA in the USA.
  • list items Degree or diploma courses like aeronautical, pilot training, and shipping.

Types of Collateral accepted

Union Bank of India accepts the following resources as collateral -

  • list items Immovable property such as a house, flat, and open plots as collateral if the property is sanctioned by the legal authorities.
  • list items Fixed deposits.

Documents required for UBI abroad education loan

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.

Applicants' documents

  • list items Identity proof: PAN/ Passport/ Driver’s License/ Voter ID card or government-issued identification document.
  • list items Education loan application form.
  • list items Address proof: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill/ driving license/ Aadhaar card.
  • list items Passport.
  • list items Past academic record. 10th standard mark sheet 12th standard mark sheet Undergraduate result (semester-wise)
  • list items 10th standard mark sheet
  • list items 12th standard mark sheet
  • list items Undergraduate result (semester-wise)
  • list items Entrance exam results (e.g. GMAT, GRE, TOEFL, etc.)
  • list items Proof of admission: admission letter (A conditional admission letter is also applicable).
  • list items Statement of expenses.
  • list items 2 passport-size photographs.
  • list items Loan A/C statement of one year (if applicable).
  • list items Bank account statement of the student (if applicable).

Co-applicant’s documents

  • list items Identity proof: PAN/ Passport/ Driver’s license/ Voter ID card or government-issued identification document.
  • list items Address: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill or copy of passport/ driving license/ Aadhaar card.
  • list items 2 passport-size photographs.
  • list items If any previous loan is from other banks/ lenders, then the loan A/C statement of 1 year.
  • list items Legal documents of the collateral/ property documents.
  • list items Bank account statement of the co-borrower/guarantor, for the last 6 months (in case of takeover of education loan).

Income proof for salaried co-applicant/guarantor

  • list items Salary slips for the last 3 months
  • list items Copy of Form 16 of the last 2 years or copy
  • list items Bank account statement for the last 6 months (Salary account)
  • list items Brief statement of assets & liabilities of parent/ guardian/ other co-borrower

Income proof for self-employed co-applicant/ guarantor

  • list items Business address proof
  • list items Last 2 years IT returns (If IT Payee)
  • list items TDS certificate (Form 16A, if applicable)
  • list items Certificate of qualification (for C.A./ doctor and other professionals)
  • list items Brief statement of assets & liabilities of parent/ guardian/ other co-borrower
  • list items Bank account statement for the last 6 months

Collateral-based documents for UBI abroad education loan

The list of documents required for collateral, depends on several factors, primarily: property type, purchase history, and location.
Common documents:

  • list items Registered sale deed
  • list items Approved plan or map of the constructed property.
  • list items Chain documents.
  • list items Latest property tax receipt.
  • list items Occupancy proof.

How to contact UBI for an education loan?

To contact UBI for an abroad education loan, you can choose one of the following methods:


Send a detailed email to [email protected]with information about your profile. Their team will review your email and respond accordingly.

Online application form

Visit the UBI website and navigate to the "Contact Us" section. You can fill out the online application form and they will evaluate your profile and further the process.

Branch visit

Visit the nearest branch in your city or locality. The staff at the branch will provide assistance regarding education loans, the application process, required documents, and other relevant information. Union Bank of India has 9727 branches in 34 states/union territories of India.

If you're seeking an education loan for studying abroad through but want to avoid the hassle of visiting physical branches and dealing with complicated application forms, you have the option to apply for a study abroad loan through GyanDhan, an education financing platform that specializes in helping students secure funding for their higher education abroad. Once you meet the eligibility criteria, our dedicated counselors will thoroughly assess your profile and recommend the most suitable lenders to meet your specific loan requirements. Throughout the loan process, our counselors will provide guidance and support, being readily available to address any concerns or challenges you may encounter. To check your eligibility here.

Benefits of getting your UBI abroad education loan through GyanDhan

Guaranteed best loan

GyanDhan stands by the promise to offer you the most competitive education loan in the market. We at GyanDhan bring the best deal possible for you. If you find a better offer, we'll cover the difference in interest rates for the ENTIRE duration of your education loan.

Low turnaround time

GyanDhan officials coordinate with various departments within UBI to secure a loan approval in just 15-20 days. This is why 1000s of students trust us with their loan requests every year. If a student applies directly to the bank, the usual UBI loan processing time is around 30-45 days.

100% free of cost services

GyanDhan’s services for applicants are absolutely free. We do not charge any kind of fees or commissions from the applicants at all.

Lender comparison

The expert education loan counselors at GyanDhan compare the loan products of different lenders to identify the most suitable loan option for your needs. This involves comparing the interest rates, loan amounts, repayment terms, processing fees, and other features of different lenders.

Higher chances of approval

In case of any missing documents, property issues, or other problems, we approach the UBI officials promptly to find solutions. This ensures speedy resolution and significantly increases your odds of approval. In case of any bottlenecks, GyanDhan will always be by your side!

How to apply for a UBI abroad education loan via GyanDhan

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.


Frequently Asked Questions

Is it necessary for a candidate to open an account in UBI in order to process their education loan?

No, it is not necessary for an applicant to open an account in the Union Bank of India.

Can a student whose parents have died, apply for an education loan from the Union Bank of India?

If both parents are deceased, a close relative or guardian can be considered a co-applicant.

How can an applicant calculate his/her EMI for an education loan from the Union Bank of India?

To calculate the EMI for an education loan from Union Bank of India, an applicant can use the EMI calculator available on GyanDhan’s website. All you need to enter the loan amount, the loan tenure, and the applicable interest rate into the calculator, which will then provide them with the EMI amount. Using an online EMI calculator is a simpler and more convenient option.

Does the Union Bank of India charge any penalty on the prepayment of the loan?

The Union Bank of India does not charge any prepayment penalty on education loans taken by individuals. A borrower can repay his loan after 6 months of disbursal.

In whose name is the education loan sanctioned in the Union Bank of India?

An education loan from the Union Bank is sanctioned under the student’s name.


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