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. Including in India or abroad. Students can apply through official website of bank or mobile application.
Under Union Bank of India education loan, students can borrow between INR 4.00 lakhs to 1.5 crores. 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.
Union Bank of India education loan interest rate starts from 7.85%. It can go up to 11.75%. Totally 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.
- Union Bank of India Education Loan for Abroad Studies
- Union Bank Education Loan Interest Rate 2025
- Union Bank Education Loan Eligibility
- How to Apply for a Union Bank Education Loan?
- List of Documents Required for UBI Education Loan
Union Bank of India Education Loan for Abroad Studies
Below we have mentioned a quick overview of UBI student loans. This table is to help you get a clear understanding of its features.
| 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.
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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.
Related Reads:
List of Documents Required for UBI Education Loan
Here is 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:
| 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) |
Education Loans By Other Banks
| Axis Bank Education Loan | ICICI Bank Education Loan |
| Bank of Baroda Education Loan | Avanse Education Loan |
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|---|---|---|
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