Union Bank of India Education Loan
Government BankA public sector bank offering education loans for study in India and abroad, with nominal processing charges and collateral-free options for eligible students.
Why Choose Union Bank of India Education Loan?
Attractive Interest Rates
Competitive, published interest rates with concessions available for female borrowers.
Collateral-Free Options
Loans without collateral are available up to a defined threshold, with higher unsecured limits for admissions to listed premier institutions.
Flexible Moratorium
Repayment begins after course completion plus a grace period, giving students time to secure employment.
Nominal Processing Charges
Processing charges are kept low compared to many private lenders.
Trusted PSU Bank
Formed from the 2020 merger of Union Bank, Andhra Bank and Corporation Bank, making it one of India's largest public sector banks.
Expenses Covered
Union Bank Loan Highlights
- High-value financing for studies in India & abroad
- Nil margin on loans up to ₹4 Lakh; 15% margin above ₹4 Lakh
- Nil overdue charges on amounts up to ₹2 Lakh
- Repayment tenure of 5–15 years
- Collateral-free borrowing available for eligible loan amounts
- Tax benefits on interest paid under Section 80E
- Special schemes for admissions to premier institutions abroad
- Available across Union Bank's nationwide branch network
Eligibility Criteria
Indian Citizenship
Applicant must be an Indian citizen with a confirmed admission offer at a recognized university or institution.
Recognized Institution
Admission must be to a course recognized by the relevant regulatory or educational authority, in India or abroad.
Co-applicant Required
A parent, guardian, or spouse with a stable income must join as a co-applicant on the loan.
Collateral Above Certain Amounts
Secured collateral is generally required once the loan crosses the bank's collateral-free thresholds; smaller loans and select premier-institution admissions may qualify for unsecured financing.
Documents Required
Standard checklist for education loan applications — confirm the exact current list with your Union Bank of India branch before applying.
Student Documents
- Passport
- Admission Letter
- Academic Marksheets
- PAN Card
- Aadhaar Card
- Photographs
Co-applicant Documents
- PAN Card
- Aadhaar Card
- Salary Slips / ITR
- Bank Statements (6 months)
- Employment Proof
- Address Proof
Collateral Documents (if applicable)
- Property Papers (Registry)
- Latest Tax Receipt
- Property Map
- Chain Documents
- NOC (If Applicable)
- Valuation Report
How Union Bank of India Education Loan Works
Check Eligibility
Apply & Upload Documents
Application Login
Credit Evaluation
Sanction Letter
Visa Approval
Disbursement of Loan
University Coverage
Union Bank of India education loans are available for admission to recognized universities and institutions both in India and abroad, subject to the university/course being on Union Bank's approved list at the time of application. Higher unsecured limits are typically available for admissions to listed premier institutions abroad. Coverage for specific universities and countries can vary — confirm with your branch or our counsellors before applying.
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