Secure Your Education Loan with the Union Bank of India

Turn your study abroad dreams into reality with Union Bank of India’s education loans. Now accessible through GradRight.

Overview of Union Bank of India Education Loan

Union Bank of India provides affordable and flexible education loans. The bank offers competitive interest rates, convenient repayment, and a transparent application process.

Advantages of Choosing Union Bank of India Education Loan

Borrow at competitive rates making your loan more affordable.

Get the funds you need without long waiting times.

Comprehensive coverage including everything from tuition and travel to living expenses.

Pay back your loan over up to 15 years giving you enough time to plan your finances.

Dedicated loan officers help you at every step ensuring a smooth process.

Union Bank of India Education Loan Features

Interest Rate

Competitive rates starting from 8.20% per annum

Loan Amount

Need-based financing with no upper limit for eligible students

Loan Tenure

Flexible repayment options for up to 15 years

Repayment Terms

Moratorium period covering the course duration plus up to 12 months after completion

Eligibility Criteria & Documents Required

Union Bank of India education loan eligibility criteria usually include having:
Indian citizens with confirmed admission to recognized institutions in India or abroad.
Admission is secured through a valid selection process or entrance exam.
Co-applicant (parent/guardian) required for loan approval.
Satisfactory academic record.
Ability to meet margin requirements.

Documents required for the Union Bank of India education loan include:
Admission letter from the university
Academic records
Identity and address proof
Income proof of co-applicant
Collateral documents (if required)

Union Bank of India Education Loan vs Other Banks

Feature

Interest Rates

Loan Amount

Processing Fees

Collateral Requirement

Pre-Visa Loan Approval

Repayment Flexibility

Loan Coverage

Loan Disbursement Speed

Prepayment Charges

Union Bank

Secured: 8.25 % onwards
Unsecured: 8.75% onwards

Secured: Upto 1.5Cr
Unsecured : Upto 40L

Secured: ₹20,000 + GST
Unsecured: ₹10,000 + GST

Depends on candidate’s profile

Information not available

No payment during study

100% financing for tuition fee & living expenses

Secured: Up to 3 weeks
Unsecured: Up to 2 weeks

No prepayment or foreclosure charges

Other Banks & NBFCs

10-13%

Up to 1.5 crore

Processing Fees

1-2% of loan amount

Non collateral loans are available from many banks and NBFCs

Pre-visa loans are available

Up to 100% of the cost of education and cost of stay for the duration of the educational program

2-3 weeks

In some banks, prepayment is not allowed for up to 12 months.

How to Apply For A Union Bank of India Education Loan?

Register

Create a profile on GradRight and enter your academic and financial details.

Get Loan Offers

Get loan quotes from Union Bank of India and other lenders within 48 hours.

Select The Best Loan

Compare the offers and select the one with the best-suited terms and conditions

Get The Loan

Submit the required documents and get the best education loan.

Student Success Stories: Real Experiences with UBI Education Loans

200,000+

students assisted

₹16,300 crore

loan requests processed

₹2,000 crore

disbursed in loans

Apply now for a Union Bank of India education loan on GradRight.

Frequently Asked Questions

What is the current interest rate for the Union Bank of India education Loan?

Union Bank of India offers interest rates between 8.25% and 12.55% per year. The exact rate depends on:

Your academic and financial background
The course and university you choose
The loan amount and the repayment period

What documents are required to apply for the Union Bank of India education Loan?

To apply for a Union Bank of India education loan, you need:

Academic records
Admission proof
Course expense details
IDs (like PAN or Aadhaar)
Your co-applicant’s income proof
Maybe some collateral docs, if that’s part of the deal.

How can I compare Union Bank of India education Loan with other banks?

GradRight lets you compare Union Bank education loan interest rates with 15+ lenders. Plus, the unique loan bidding option helps you get competitive offers in just 2 days. Then, you can pick the one that fits you best.

What are the eligibility criteria for a Union Bank of India education loan for abroad studies?

To qualify for a Union Bank of India education loan for abroad studies, you must be an Indian citizen with an admission letter, have a co-applicant with steady income, and meet their credit score requirements. Your course and university reputation also influence approval.

How do you apply for a Union Bank abroad education loan?

Visit Union Bank’s website or branch, select the Union Bank abroad education loan option, and fill out the application. Upload your admission offer, academic transcripts, passport, and co-applicant proofs. The bank will verify and disburse funds directly to your university.

What’s the maximum amount you can borrow under a Union Bank of India education loan?

With a Union Bank of India education loan, you can borrow up to ₹1.5 crore for top overseas programs. For domestic courses, unsecured loans go up to ₹7.5 lakhs. Collateral-backed loans allow higher limits based on your co-applicant’s assets and credit profile.