Union Bank of India (UBI) Abroad Education Loan

Get Free Education Loan Assistance from Gyandhan

Interest Rate

Starting @ 9.8%

Processing Fees

INR 5,000

Margin Money


Apply Loan Online

Overview of Union Bank of India’s abroad education loan scheme

Features Details
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
UBI Education Loan Interest Rate Secured loans - 10-10.5%
Unsecured loans - 9.8%
Processing Fee 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

Total Interest to be paid


Total Payment Principal + Interest


Your EMI per month will be


Eligibility criteria of an abroad education loan by UBI

  1. Age: The applicant must be an Indian citizen and at least 18 years of age or older at the time of application.
  2. Education qualification: To be eligible for an education loan, the applicant must have secured admittance to a reputed university or institution for a program that leads to the degree or diploma they have chosen.
  3. 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.
  4. Co-applicant: The co-applicant could be a parent or a legal guardian, with a regular source of income and good credit history.
  5. 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.
  6. Courses: 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:
    • Courses conducted by CIMA- London, CPA in the USA.
    • Degree or diploma courses like aeronautical, pilot training, and shipping.
  7. Types of Collateral accepted: The Union Bank of India accepts the following resources as collateral -
    • Immovable property such as a house, flat, and open plots as collateral if the property is sanctioned by the legal authorities.
    • Fixed deposits
Check UBI Education Loan Eligibility

Documents required for abroad education loan from UBI

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.

  1. Identity proof: PAN/ Passport/ Driver’s License/ Voter ID card or government-issued identification document.
  2. Education loan application form.
  3. Address proof: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill/ Aadhaar card.
  4. Passport 
  5. Past academic record.
    • 10th standard mark sheet
    • 12th standard mark sheet
    • Under graduate result (semester-wise)
  6. Entrance exam results (e.g. GMAT, GRE, TOEFL, etc.)
  7. Proof of admission: admission letter (A conditional admission letter is also applicable).
  8. Statement of expenses.
  9. 2 passport-size photographs.
  10. Loan A/C statement of one year (if applicable).
  11. Bank account statement of the student (if applicable).
  1. Identity proof: PAN/ Passport/ Driver’s License/ Voter ID card or government-issued identification document.
  2. Address proof: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill/ Aadhaar card.
  3. 2 passport-size photographs.
  4. If any previous loan is from other banks/ lenders, then the loan A/C statement of 1 year.
  5. Legal documents of the collateral/ property documents.
  6. 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

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

Income proof for self-employed co-applicant/ guarantor

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

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

Common documents:

  1. Registered sale deed.
  2. Approved plan or map of the constructed property.
  3. Chain documents.
  4. Latest property tax receipt.
  5. Occupancy proof.

Apply For UBI Bank Education Loan


Getting your UBI Education Loan through GyanDhan

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.

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!

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.

Guaranteed best loan

GyanDhan stand’s 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.

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.

Apply Online

Online Document Submission

Processing & Approval

Loan Sanction & Disbursal

The GyanDhan effect in UBI


With GyanDhan

Without GyanDhan

Personalized document checklist according to profile & area



Branch Visits



Pre-visa disbursements



Apply for UBI Bank Education Loan Online

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 crucial 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.

Our Lending Partners

Upcoming Events

Know All About Education Loans for Abroad Studies

  Wed, October 04, 2023    18:00 IST

Will Canada Relations Impact Your Study-Abroad Dream?

  Sat, October 07, 2023    19:00 IST

Know All About Education Loans for Abroad Studies

  Wed, October 04, 2023    18:00 IST

Looking For Help in Foreign Education Loan? Arrange a Call From an Expert:

Enter Mobile no. Without Any Prefix.
By entering my phone number here, I hereby authorize GyanDhan to contact me through call, message or WhatsApp. \ It will override my registry on the NCPR/NDNC

Help our experts understand you better by filling our 2-Minute Form,
to find the right education loan

Get instant loan offer suitable to your profile !