Union Bank of India Education Loan: A Complete Guide
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Union Bank of India Education Loan provides financial support for students who want to pursue higher education in India or abroad. Students can apply through the official website of the bank, mobile application, the Vidya Lakshmi Portal, or by visiting the nearest bank branch. This loan covers a wide range of expenses, including tuition fees, hostel and living costs.
Under the Union Bank of India education loan, students can borrow between INR 4.00 lakhs and INR 1.5 crores to finance their higher studies. The student loan amount depends on the applicant’s profile and the co-applicant’s CIBIL score. Students can apply for a UBI student loan through both online and offline methods.
The Union Bank of India education loan interest rate starts from 7.85% and can go up to 11.75%, depending on the loan amount and the applicant's profile. The bank offers up to INR 40 lakhs without any collateral for studying abroad, while there is no upper limit on secured education loans. If you are planning to apply for a Union Bank education loan, this comprehensive guide is for you. We have covered every basic detail about borrowing a student loan from UBI to help you make a decision.
Predict your IELTS, TOEFL, and PTE in just 4 steps!
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Union Bank of India Education Loan for Abroad Studies
Union Bank of India is one of the popular public sector banks in India. It provides financial assistance to needy students who want to pursue higher education abroad or in India. The Union Bank of India Education Loan for abroad studies covers a wide range of expenses, including tuition fees, hostel and living costs, books, study materials, travel expenses, and even the purchase of a laptop or other device.
Also, borrowers can avail of income tax benefits on interest payments under Section 80E. Below, we have mentioned a quick overview of UBI student loans to help you gain a clear understanding of its key features and benefits.
| Overview of Union Bank Education Loan |
|
|---|---|
| Loan Amount |
INR 4.00 Lakhs to 1.5 Crores (To Study Abroad and In India) |
| Union Bank Education Loan Interest Rate |
7.85% to 11.75% (Based on Profile of Students) |
| Loan Coverage |
|
| Repayment Tenure |
Up to 15 years |
| Moratorium Period |
Course Duration+ 1 Year |
| Tax Benefits |
Income tax benefit on interest paid under Section 80E. |
| Application Process |
Students can apply online and offline |
Union Bank Education Loan Interest Rate 2025
Having a clear understanding of the Union Bank of India Education loan interest rate is important if you are planning to borrow money for your higher studies. This public sector bank offers student loans at lower interest rates than private banks. Also, special concessions for female students.
Here is the table that contains detailed information about Union Bank Education Loan Interest Rate 2025 (scheme-wise):
- Union Education Loan (For Studying in India)
| Loan Amount |
Effective ROI |
|
|---|---|---|
|
|
For Male Students |
For Female Students |
| Up to INR 7.5 Lakhs |
11.00% |
11.00% |
| Up to INR 4.0 Lakhs |
12.25% |
11.75% |
| INR 4.00 Lakhs – INR 7.5 Lakhs |
12.00% |
11.50% |
| Above INR 7.5 Lakhs |
11.10% |
10.60% |
- Union Education Loan – Premier Abroad (For Studying Abroad)
| For Category ‘A’ Institutes |
||
|---|---|---|
| Loan Amount |
Collateral Coverage |
Rate of Interest |
| Up to INR 40 Lakhs |
No Collateral |
9.50% |
| Up to INR 150 Lakh |
50% to <100% Collateral |
9.25% |
| INR 150 Lakh and Above |
100% & Above Collateral |
9.00 |
| For Category ‘B’ Institutes |
||
| Up to INR 30 Lakhs |
No Collateral |
9.75% |
| Up to INR 150 Lakh |
50% to <100% Collateral |
9.50% |
| INR 150 Lakh and Above |
100% & Above Collateral |
9.00 |
- Union Education Loan – PM Vidyalaxmi Scheme
| Course Name |
Effective ROI |
|---|---|
| PM Vidyalaxmi - I (AAA) |
7.85% |
| PM Vidyalaxmi - I (AA) |
8.10% |
| PM Vidyalaxmi - I (AA/A) |
8.30% |
| PM Vidyalaxmi - I (BBB) |
9.00% |
| PM Vidyalaxmi - I (BB) |
9.50% |
- Union Education Loan – Non-PM Vidyalaxmi (Union Medicos)
| Loan Amount |
Collateral Coverage |
Effective ROI |
|---|---|---|
| Up to INR 40 Lakh |
Without Collateral |
10.00% |
| Up to INR 200 Lakh |
50% to <100% Collateral |
9.75% |
| INR 200 Lakh & Above |
100% & Above Collateral |
9.50% |
Union Bank Education Loan Eligibility
The Union Bank of India has announced the eligibility criteria for education loans. Applications will be accepted only from students who fulfill the below-mentioned eligibility requirements.
- Applicant should be an Indian citizen
- Must have an admission letter from a university/college to study in India or abroad.
- Applicant must have secured admission through entrance exams such as IELTS /TOEFL/GRE
- NRI students should hold an Indian Passport & have secured admission to a course for studies in India only.
How to Apply for a Union Bank Education Loan?
Eligible students can apply for a Union Bank of India education loan through the bank's mobile application, official website, offline by visiting a branch, or via the Vidyalakshmi Portal. The process of these application processes is different from each other. To have a better understanding, we have mentioned the step-by-step application process.
By Mobile Application:
- Visit the “Vyom” application of Union Bank (Only for Account Holder with Bank).
- Scroll down to “Loan” section and click on the “Education Loan” section.
- You’ll be redirected to the official website of bank.
- Fill up the details and the bank representative will connect you.
By Official Website of Bank
- Visit the official website of Union Bank.
- Click on “Loan” and then click on “Education loan” option.
- There you can select the best scheme which suits your needs.
- Fill up the required details and bank representative will connect with you.
- Visit the Vidya Lakshmi Portal and create a new account (If you don’t have one).
- Fill up the details asked there.
- Once, the registration process is done, you can apply for up to three education loan schemes of any bank.
- Select the “Union Bank of India education loan” option.
- You can track your loan application status here only.
By Visiting the Bank Branch
- Just visit any nearest branch of Union Bank of India.
- There you can directly connect with the bank representative regarding the education loan application.
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List of Documents Required for UBI Education Loan
Here is the list of documents required to apply for the Union Bank of India Education Loan. The bank officials take 10 to 20 days to approve your loan application. During this period, they verify your documents and assess your profile. Make sure to submit all the required documents at the time of application to ensure a quick approval process for your student loan. Check the list of documents required for education loan below:
| List of Documents Required for Student Loan |
|
|---|---|
| Application Form |
Education Loan application form with correct information |
| Government-Approved Identity Proof |
|
| Residence Proof |
|
| Passport Size Photos |
Latest Passport-Size Photograph of Applicant and Co-Applicant |
| Income Proof |
|
| Academic Documents |
|
| Other Documents |
Caste Certificate (If Needed) |
Union Bank of India is a well known public sector bank which offer education loans at lower ROI. With loan amounts ranging from INR 4.00 lakhs to INR 1.5 crores, flexible repayment options, and competitive interest rates starting from 7.85%, Union Bank Education loan provides financial support to needy students. Also, female students get special concessions in ROI.
Education Loans By Other Banks
After applying to Hertfordshire University UK, the applicants are going to receive an initial decision about their application within 2-3 working days. After the submission of the application and documents, the applicants are required to pay their tuition deposit. Then, complete the Sponsorship interview and the financial declaration. International students are required to pay a deposit of £5,000 before registration. The balance can be paid in line with the liability dates related to the year and entry of the semester.
With a 70% acceptance rate, the University of Hertfordshire is not hard to get into and follows easy selection criteria during admissions. This does not mean the university accepts all the students applying for different programs. The selection is based on academic performance, English language requirements, references, and many more. Some of the programs at Hertfordshire even demand an experience of 4-5 years. Students must fulfill the eligibility criteria to enroll in any programme at Hertfordshire University. In addition, students with average performance can showcase their relevant experience or extracurricular activities participation to increase their selection probability.
International students whose native language is not English must meet the University of Essex English language requirements to get admission. The university accepts IELTS scores as proof of English language proficiency. Mentioned below are the IELTS scores required for UG and PG admission at the university:
English Language Test | Score |
|---|---|
IELTS | Overall score of 5.5 to 8.0 with minimum of 5.5 to 7.5 in each section |
The university also accepts the score of other English language tests such as TOEFL and PTE for admission to undergraduate and graduate programs:
English Language Test | Score |
TOEFL iBT | Overall score of 72 to 114 |
PTE | Overall score of 59 to 84 with minimum of 59 to 80 in each section |
Also read: Required IELTS Score for UK Universities
Bangor University (UK) offers an affordable MBA programme for international students. The below table includes the complete first-year package to study MBA program:
Fees components | Amount (for 1 year) |
Tuition & fees | INR 19,26,441 |
Hostel & Meals | INR 5,67,511 |
Total approximate fees | INR 24,93,952 |
Also read MBA in the UK Cost in 2024
The application process at the University of Manchester may vary depending on the course and level of study. However, here is the application process for UG and PG courses:
The Undergraduate Application Process:
Step 1: You can apply through the UCAS common application portal.
Step 2: Go to the website and select the course you are interested in.
Step 3: Ensure you meet the Entry requirements (Academic qualifications, English proficiency, etc.
Step 4: Once you decide on the course, submit documents such as SOP, Transcripts and personal statements.
Check out: tips to improve your SOP.
Step 5: You can track the application's progress through your given credentials by UCAS.
Step 6: Once the applicant submits the application to UCAS, it forwards to the University, and the admission teams carefully analyse the application document.
Step 7: The university will send you an offer letter once selected. Hence keep checking your UCAS portal for your application status.
The Postgraduate application process:
Step 1: Select the postgraduate course you are interested in from the University of Manchester.\
Step 2: Ensure you meet the entry requirements for the chosen program, as they vary depending on the course.
Step 3: Complete the online application by providing your personal information.
Step 4: Upload the required documents, such as Academic transcripts and proof of English language proficiency ( TOEFL/ IELTS). experience in your fields and references (depending on the course). You also may require Two LORs depending on the course.
To make your admission better, check out the following: How Admission Officers Evaluate your application.
Step 5: If your application is successful, you will receive an offer from the University of Manchester.
The English language test score required at the Univerisyt of South Wales are mentioned in the table below for the international applicants whose first language is not English
Exam | Minimum Scores |
|---|---|
IELTS | 6.0 with at least 5.5 in each band |
TOEFL | 72 overall and a minimum of 18 in reading, 17 in listening, 20 in speaking and 17 in writing |
PTE | a score of 59 overall and 59 in each component. |
Those who are preparing for the UK Class 10 exam 2025 are recommended to follow the tips below.
- Know the exam pattern
- Make a proper time table as per the syllabus
- Solve previous year question papers
- Make short notes of important formulas and theorems
- Revise regularly
- Figure out weaker areas and learn them well
With proper planning and hard work, students can easily clear the UK 10th board exam.
| Axis Bank Education Loan | ICICI Bank Education Loan |
| Bank of Baroda Education Loan | Avanse Education Loan |
If you are planning to apply for Union Bank Student loan then, it is recommended that research well and read the terms and conditions. Want any expert guidance? Contact India’s leading education loan providers through Shiksha Study Abroad. For more queries. Do write to us in the comments below. Or request a call back from our Shiksha Study Abroad Counselling Services.
Raj Vimal has experience of 7+ years in SEO Content Writing, which includes 5+ years in the Ed-Tech industry. He has written articles about studying abroad, especially in the USA, UK, and other English-speaking coun... Read Full Bio
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The University of Manchester acceptance rate is 27% for international students, which means admissions are highly competitive. Out of 100 applicants, only 27 are admitted to the university. This also shows that the university has particular standards for admission, and potential students should be prepared for admission. Early applicants can primarily benefit as it gives students a better chance of acceptance. Therefore, international applicants who wish to study at the University of Manchester must have a good acdemic profile.