Union Bank of India Education Loan: A Complete Guide

Union Bank of India Education Loan provides financial support for students who want to pursue higher education. Including in India or abroad. Students can apply through official website of bank or mobile application.

Union Bank of India (UBI) offers education loans up to INR 1.5 Crores (and up to INR 2 Crores for select cases) to study abroad. Collateral for education loan is not always needed. This is completely depends on the loan amount.

• Interest Rates: Start between 8.80% and 10.25% per year. Female students get a special 0.50% discount on the interest rate.
• No-Collateral Limit: You can get up to INR 40 Lakhs without any property or security if you are admitted to a top-ranked global university (Category A), and up to INR 30 Lakhs for Category B universities.
• Repayment Period: You do not have to repay during your course plus 1 extra year after graduation (moratorium period). After that, you get up to 15 years to pay back the loan in monthly installments (EMIs).
• What Expenses Are Covered: 100% of your college tuition fees, living and hostel costs, one-way flight tickets, study books, a laptop, and health insurance.
• Tax Savings: You can claim a tax deduction on all the interest you pay under Section 80E of the Income Tax Act for up to 8 years.

The education loans pay for tuition fees, hostel charges, and books so you can focus on learning. Applying is very fast. You can fill out the form online or visit a branch to get started. Choose a Union Bank of India education loan today to secure your future without financial worry.

UBI Education Loan for Abroad Studies

The Union Bank of India education loan is a reliable choice for students planning to study abroad. It offers substantial funding up to INR 1.5 Crores to cover tuition costs, living expenses, and travel costs. With attractive interest rates and a flexible repayment tenure of 15 years, you can study without thinking about money. Know all terms and their meaning related to student loans before applying for it. The table below provides a quick overview of the key features and benefits.

Union Bank Education Loan Interest Rate 2027

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 2026 (scheme-wise):

• Union Education Loan (For Studying in India)

• Union Education Loan - Premier Abroad (For Studying Abroad)

• Union Education Loan (PM Vidyalaxmi) Scheme

• Union Education Loan Non-PM Vidyalaxmi (Union Medicos)

Union Bank Education Loan Eligibility

Students must meet the required eligibility criteria to apply for a Union Bank of India education loan. The main requirements are:

• The applicant must be an Indian citizen.
• The student must have secured admission to a recognised college, university, or institution in India or abroad.
• Admission should be based on the selection process required by the college or university.
• The student may need to provide scores from exams such as IELTS, TOEFL, GRE, or other tests if required for admission.
• NRI students must hold a valid Indian passport and should have secured admission to an eligible course in India.

Students should check the eligibility rules for their chosen Union Bank education loan scheme before applying, as requirements may vary by course and institution.

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 holders with the bank).
• Scroll down to the “Loan” section and click on the “Education Loan” section.
• You’ll be redirected to the official website of the bank.
• Fill up the details, and the bank representative will connect you.

By the Official Website of Bank

• Visit the official website of Union Bank.
• Click on “Loan” and then click on the “Education loan” option.
• There, you can select the best scheme that suits your needs.
• Fill up the required details, and the bank representative will connect with you.

By Visiting the Bank Branch

• Just visit the nearest branch of Union Bank of India.
• There, you can directly connect with the bank representative regarding the education loan application.

List of Documents Required for UBI Education Loan

Here is a 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. Check the list of documents required for education loan below:

Contact India’s leading education loan providers to get Education Loans to Study Abroad. For admission-related queries, write to us in the comments below. Or request a call back from Shiksha Study Abroad.