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Our Reliable Lending Associates
Choose from a diverse network of secure lenders, providing you with multiple options to meet your needs.
Our Reliable Lending Associates
We help you get your higher studies education loan from ANY BANK in the least possible time frame.
Choose from a diverse network of secure lenders, providing you with multiple options to meet your needs.
UBI Education Loan
Get Free Education Loan Consultation from VITTIYA
Interest Rate
Starting from 9.25%
Processing Fees
INR 5,000
Margin Money
NIL
UBI Education Loan
Receive expert, personalized guidance at no cost from VITTIYA to navigate education financing, ensuring a smooth journey to securing the funding you need for your studies in India or abroad.
Interest Rate
Starting from 9.25%
Processing Fees
INR 5,000
Margin Money
NIL
professional consulting services
Education Loan
Easy loans and support for studying abroad.
Admission
Expert guidance and loans for studying abroad.
Community
Join us for study abroad guidance and support.
ACCELERATE YOUR GOALS
Enhance Your Journey to Global Education
Unlock opportunities for international education with tailored financial solutions. From guidance on the best loan options to streamlined application support, our dedicated team helps make funding your studies abroad simple and stress-free.
Crafted financial solutions for study abroad
Expert guidance on best loan options
Support for a smooth application process
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Vittiya is a financial services platform dedicated to helping students access the necessary funds for their education abroad
Unlocking Possibilities
A Vision of Access, A Path to Success
Conveying a shared aspiration to create accessible paths to international education and, ultimately, achievement.
Our Mission
Empowering Indian students with affordable education financing.
Our Vision
Empowering Indian students with financial solutions for global education.
Our Goal: Seamless Education for Everyone
Providing Education Loans
Disbursement of Loan Executed
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Universities
Analyzing your education loan to enhance your Opportunities
Maximize your education loan by understanding terms and customizing repayment plans, empowering you to focus on achieving your educational and career goals.
Assess Education Options
Unlock Financial Support for Your Education Abroad Goals
Access the funds you need to pursue your studies abroad. With tailored loan options and expert guidance, achieving your international education aspirations is within reach. Begin your journey today and secure the financial support to make it happen.
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Smart financial solutions for your global education goals.
Get In Touch
- 315, Dhanrajni Building, Dr. Yagnik Rd, Rajkot, Gujarat - 360001
- yashpal@vittiya.net
- +91 70968 11110
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- About us
About us
Our advisors streamline foreign education loans with expert guidance and quick processing.
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+91 70968 11110
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yashpal@vittiya.net
Our location
315, Dhanrajni Building, Dr. Yagnik Rd, Rajkot, Gujarat - 360001
Loans by Country
Loan Partners
Axis Education Loan
Prodigy Education Loan
Mpower Education Loan
Credila Education Loan
Avanse Education Loan
Incred Education Loan
Auxilo Education Loan
Bob Education Loan
Countries
Study in USA
Study in UK
Study in Canada
Study in Australia
Study in Germany
Study in Ireland
Study in New Zealand
Study in France
Loans by Country
Loan Partners
Axis Education Loan
Prodigy Education Loan
Mpower Education Loan
Credila Education Loan
Avanse Education Loan
Incred Education Loan
Auxilo Education Loan
Bob Education Loan
Countries
Study in USA
Study in UK
Study in Canada
Study in Australia
Study in Germany
Study in Ireland
Study in New Zealand
Study in France
Frequently Asked Questions
Candidates can get a UBI education loan without an account, even if parents are deceased, with simple EMI calculations and no prepayment fees.
No, applicants are not required to open an account with the Union Bank of India.
If both parents are deceased, a close relative or guardian can act as a co-applicant.
To calculate your EMI for a VITTIYA foreign education loan, use our online EMI calculator by entering the loan amount, tenure, and interest rate for a quick and easy result.
The Union Bank of India does not impose any prepayment penalties on education loans, allowing borrowers to repay their loans six months after disbursement.
Education loans from the Union Bank are sanctioned in the student’s name.
Loans by Country
Loan Partners
Axis Education Loan
Prodigy Education Loan
Mpower Education Loan
Credila Education Loan
Avanse Education Loan
Incred Education Loan
Auxilo Education Loan
Bob Education Loan
Countries
Study in USA
Study in UK
Study in Canada
Study in Australia
Study in Germany
Study in Ireland
Study in New Zealand
Study in France
Loans by Country
Loan Partners
Axis Education Loan
Prodigy Education Loan
Mpower Education Loan
Credila Education Loan
Avanse Education Loan
Incred Education Loan
Auxilo Education Loan
Bob Education Loan
TATA Capital Education Loan
Yes Bank Education Loan
PNB Education Loan
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Study in USA
Study in UK
Study in Canada
Study in Australia
Study in Germany
Study in Ireland
Study in New Zealand
Study in France
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UBI Education Loan
Receive expert, personalized guidance at no cost from VITTIYA to navigate education financing, ensuring a smooth journey to securing the funding you need for your studies in India or abroad.
Interest Rate
Starting from 9.25%
Processing Fees
INR 5,000
Margin Money
NIL
UBI Bank Education Loan for Abroad Studies
Everything you need to know about UBI education loans for studying abroad.
Experience the Journey
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.
Overview of Union Bank of India Educational Loan Scheme
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.
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
Below are the top features of UBI’s unsecured loan options for students interested in applying for the Union Bank of India education loan abroad.
Loan Amount
The education loan in Union Bank of India without collateral typically covers tuition fees, examination charges, accommodation, travel expenses, and other related costs up to a certain limit. The maximum loan amount without collateral is up to INR 40 Lakh for overseas education.
Eligibility Criteria
To avail of the Union Bank of India abroad education loan without collateral, the applicant must meet specific eligibility criteria, such as securing admission to a recognized institution, maintaining a good academic record, and demonstrating the ability to repay the loan.
Courses Covered
The Union Bank of India education loan abroad without collateral typically supports pre-approved courses, including postgraduate and professional courses in fields like engineering, medicine, management, and more.
Interest Rates and Repayment
The interest rates for Union Bank of India abroad education loan without collateral are competitive starting at just 9.75%, with concessions available for female students. The repayment period usually begins after the completion of the course and offers flexible repayment terms, often extending up to 15 years, depending on the loan amount and the course duration.
Note:-
The Union Bank of India education loan interest rate is subject to change.
Union Bank of India Educational Loan: Eligibility Criteria
Age
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.
Co-Applicant
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.
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.
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.
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.
Union Bank Education Loan Interest Rates
The Union Bank of India education loan interest rate is designed to be competitive, making higher education more accessible for students. Whether you’re pursuing studies in India or abroad, the Union Bank education loan rate of interest offers various schemes to suit different educational needs. From general education loans to specialized programs like the Union Education Loan for ISB Students, Union Bank provides tailored options to ensure that students can focus on their studies without financial stress. Below is a table detailing the various Union Bank education loan interest rates for different schemes:
Union Bank Education Loan Documents Required
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 that you offer as collateral.
Applicants Documents Required for Union Bank Education Loan Abroad
- Identity proof: PAN/ Passport/ Driver’s License/ Voter ID card or government-issued identification document.
- Education loan application form.
- Address proof: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill/ driving license/ Aadhaar card.
- Passport.
- Past academic record.
- 10th standard mark sheet
- 12th standard mark sheet
- Undergraduate result (semester-wise)
- Entrance exam results (e.g. GMAT, GRE, TOEFL, etc.)
- Proof of admission: admission letter (A conditional admission letter is also applicable).
- Statement of expenses.
- 2 passport-size photographs.
- Loan A/C statement of one year (if applicable).
- Bank account statement of the student (if applicable).
Co-Applicant’s Documents Required for Union Bank Abroad Education Loan
- Identity proof: PAN/ Passport/ Driver’s license/ Voter ID card or government-issued identification document.
- Address: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill or copy of passport/ driving license/ Aadhaar card.
- 2 passport-size photographs.
- If any previous loan is from other banks/ lenders, then the loan A/C statement of 1 year.
- Legal documents of the collateral/ property documents.
- 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
Collateral Based Documents for Union Bank Education Loan Abroad
The list of documents required for a Union Bank student loan, depends on several factors, primarily: property type, purchase history, and location.
Common Documents:
- Registered sale deed
- Approved plan or map of the constructed property.
- Chain documents.
- Latest property tax receipt.
- Occupancy proof.
Union Bank Education Loan: Contact Details
Online Application Form
Visit the UBI website (https://www.unionbankofindia.co.in/english/contact-us.aspx) and navigate to the “Contact Us” section. You can fill out the online application form and Union Bank evaluates your profile and further the process.Branch Visit
Visit the nearest branch in your city or locality. The staff at the branch will assist with 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. Looking for a Union Bank student loan to study abroad? Skip the branch visits and complicated forms by applying through Vittiya. Our expert counselors will assess your eligibility, match you with the right lenders, and guide you throughout the loan process. Start your education loan journey today by checking your eligibility!Benefits of Union Bank Education Loan for Abroad through Vittiya
Guaranteed Best Loan
VITTIYA guarantees you the most competitive education loan in the market. If you find a better offer elsewhere, we’ll match it by covering the difference in interest rates for the entire loan term.Low Turnaround Time
VITTIYA works closely with UBI to ensure loan approvals within just 15-20 days, far quicker than the usual 30-45 days processing time when applying directly through the bank.100% Free of Cost Services
VITTIYA offers its services completely free of charge. No fees or commissions are ever charged to applicants.Lender Comparison
Our expert education loan counselors compare loan options from various lenders, evaluating interest rates, loan amounts, repayment terms, and processing fees, to find the best fit for you.Higher Chances of Approval
VITTIYA ensures faster resolution of any issues like missing documents or property concerns by liaising directly with UBI. We are always by your side to boost your chances of approval.How to apply for a UBI abroad education loan via Vittiya
To secure an education loan from UBI, you can apply online through their website. After completing the online application, you’ll need to visit the nearest UBI branch with your documents. To simplify the process, you can apply for your education loan through VITTIYA, an online platform that assists students in securing funding for their studies abroad with ease.
Frequently Asked Questions
Candidates can get a UBI education loan without an account, even if parents are deceased, with simple EMI calculations and no prepayment fees.
No, applicants don’t need a Union Bank of India account.
Yes, a close relative or guardian can be a co-applicant.
Use VITTIYA’s online EMI calculator for quick results.
No, UBI doesn’t charge prepayment penalties.
The loan is sanctioned in the student’s name.
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Pursue Your Dream Degree in USA
The USA is a top study destination for international students, offering prestigious universities and a wealth of opportunities. In the 2021/2022 academic year, over 199,000 Indian students chose the USA for higher education, reflecting its immense popularity.
One key reason for this preference is the global career prospects available after earning a degree. Tuition fees vary across programs, with international graduate students paying an average of USD 39,000 annually. Education loans are an ideal solution to cover tuition, living costs, and other expenses. Moreover, these loans also serve as valid proof of funds for US student visas, simplifying the application process.
Education Loan Eligibility for USA
To obtain an abroad education loan in USA as an international student, there are specific conditions/eligibility criteria that need to be fulfilled.
These consist of:
Good academic record.
Collateral for secured loans.
Co-applicant with sufficient income for unsecured loans.
Acceptance into a recognized American institution for a full-time program.
Documents Required for Education Loan USA
Apart from meeting the eligibility criteria, students must ensure they have all the necessary documents ready before applying for an education loan to study in the USA. The document checklist can be extensive, but a personalized checklist can help streamline the process and speed up submission.
Commonly required documents for securing a study abroad loan for the USA include:
Loan application form
Passport-size photographs
KYC documents of the applicant
Standardized test scores (GMAT or GRE)
Academic transcripts (School and Bachelor’s)
Education Loan for USA
In order to apply for i20 you need to furnish bank balance proof of the last 24 hours / 1 day. However, if you have an Education Loan sanction letter, you do not show this balance for 24 hours.
Hence you can straight away apply for i20 & speed up the VISA process. Both – Secured & Unsecured – loans are accepted for higher studies in the USA.
