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We help you get your higher studies education loan from ANY BANK in the least possible time frame.
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We make your education loan journey simple, smooth and swift guiding you at every step of the way for a hassle-free experience.
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Introduction of Union Bank Of India
Founded in 1919 and nationalized in 1969, Union Bank of India offers diverse banking services, including education loans for domestic and international studies. After merging with Andhra and Corporation Banks in 2020, it became India’s fifth-largest public sector bank, providing both secured and unsecured loans.
Union Bank of India Educational 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 | Secured loans:For listed universities - 9.25%For non-listed universities - 10.5% Unsecured loans - 9.75% |
| Processing Fees | Up to INR 40 Lakh - INR 10,000 + GSTAbove INR 40 Lakh - INR 20,000 + GST |
| 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 The loan repayment break before payments begin.
Margin Money The borrower's contribution to the loan, with the rest covered by the lender.
Union Bank Education Loan Without Collateral
Union Bank is the only public bank in India right now that provides education loans without collateral for studying abroad. Union Bank of India is currently the only public sector bank in India that offers education loans without the requirement of collateral for students pursuing studies abroad. This unique offering makes it an attractive option for students who may not have substantial assets to pledge as security, providing them with the opportunity to access quality education globally without financial hurdles.
Key Features of Union Bank Education Loan without Collateral
Loan Amount: Up to INR 40 lakh without collateral for overseas education, covering essential expenses.
Eligibility: Admission to a recognized institution, good academics, and repayment ability.
Courses Covered: Supports approved PG & professional courses like engineering, medicine, and management.
Interest & Repayment: Starts at 9.75%, concessions for female students, repayment up to 15 years post-course.
Note:- The Union Bank of India education loan interest rate is subject to change.
Eligibility Criteria
Founded in 1919 and nationalized in 1969, Union Bank of India offers diverse banking services, including education loans for domestic and international studies. After merging with Andhra and Corporation Banks in 2020, it became India’s fifth-largest public sector bank, providing both secured and unsecured loans.
Age: Must be an Indian citizen, 18+ years.
Education Qualification: Admission to a reputed university for a degree/diploma.
Academics: Good academic record, meeting lender's criteria, and required tests (GRE, IELTS, TOEFL).
Co-Applicant: Parent/guardian with stable income & good credit.
Study Destinations: Covers universities in the USA, UK, Canada, Australia, Europe & more.
Courses: Under the Union Bank education loan scheme regular graduate degree/post-graduate degree/diploma/certificate/doctorate courses such as bachelor, master, MCA, MBA, MS, etc are covered.
Courses conducted by CIMA- London, CPA in the USA.
Degree or diploma courses like aeronautical, pilot training, and shipping.
Courses conducted by CIMA- London, CPA in the USA.
Degree or diploma courses like aeronautical, pilot training, and shipping.
Types of Collateral Accepted
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.
Introduction of Union Bank Of India
Founded in 1919 and nationalized in 1969, Union Bank of India offers diverse banking services, including education loans for domestic and international studies. After merging with Andhra and Corporation Banks in 2020, it became India’s fifth-largest public sector bank, providing both secured and unsecured loans.
Union Bank of India Educational 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 | Secured loans:For listed universities - 9.25%For non-listed universities - 10.5% Unsecured loans - 9.75% |
| Processing Fees | Up to INR 40 Lakh - INR 10,000 + GSTAbove INR 40 Lakh - INR 20,000 + GST |
| 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 The loan repayment break before payments begin.
Margin Money The borrower's contribution to the loan, with the rest covered by the lender.
Union Bank Education Loan Without Collateral
Union Bank is the only public bank in India right now that provides education loans without collateral for studying abroad. Union Bank of India is currently the only public sector bank in India that offers education loans without the requirement of collateral for students pursuing studies abroad. This unique offering makes it an attractive option for students who may not have substantial assets to pledge as security, providing them with the opportunity to access quality education globally without financial hurdles.
Key Features of Union Bank Education Loan without Collateral
Loan Amount: Up to INR 40 lakh without collateral for overseas education, covering essential expenses.
Eligibility: Admission to a recognized institution, good academics, and repayment ability.
Courses Covered: Supports approved PG & professional courses like engineering, medicine, and management.
Interest & Repayment: Starts at 9.75%, concessions for female students, repayment up to 15 years post-course.
Note:- The Union Bank of India education loan interest rate is subject to change.
Eligibility Criteria
Founded in 1919 and nationalized in 1969, Union Bank of India offers diverse banking services, including education loans for domestic and international studies. After merging with Andhra and Corporation Banks in 2020, it became India’s fifth-largest public sector bank, providing both secured and unsecured loans.
Age: Must be an Indian citizen, 18+ years.
Education Qualification: Admission to a reputed university for a degree/diploma.
Academics: Good academic record, meeting lender's criteria, and required tests (GRE, IELTS, TOEFL).
Co-Applicant: Parent/guardian with stable income & good credit.
Study Destinations: Covers universities in the USA, UK, Canada, Australia, Europe & more.
Courses: Under the Union Bank education loan scheme regular graduate degree/post-graduate degree/diploma/certificate/doctorate courses such as bachelor, master, MCA, MBA, MS, etc are covered.
Courses conducted by CIMA- London, CPA in the USA.
Degree or diploma courses like aeronautical, pilot training, and shipping.
Courses conducted by CIMA- London, CPA in the USA.
Degree or diploma courses like aeronautical, pilot training, and shipping.
Types of Collateral Accepted
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.