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Union Bank of India Education Loan

Bank Link

https://www.unitedbankofindia.com/english/EducationLoan.aspx

Loan Amount

For study in India: Max. Rs. 10 Lac & For study abroad : Max. Rs. 20 Lac

Interest Rate

11.05 % , For Girls - 10.55%

Tenure

10 to 15 years

Disclaimer: The Details shown may be different from actual. Please confirm on the bank site before process.

Eligibility Introduction

Age of the Applicant

  • Upto 35 years for non-employed personnels
  • Upto 45 years in case of working employees/ executives

Who can apply

  • An Indian National having secured admission to professional/technical courses in recognized institutions.
  • Permanent employees who are employed for not less than three years with any organisation and who intend to acquire higher professional qualifications and have secured admissions in a reputed institute.

Maximum Loan Amount

  • Upto Rs. 1,000,000 for studies in India.
  • Upto Rs. 2,000,000 for studies abroad.
  • Upto Rs. 1,000,000 for studies at IIT's, IIM's and ISB's.
  • These amounts are subjective to margin requirements as mentioned in the table above

Repayment Frequency

  • Quarterly or monthly rests.
  • Repayment in Education Loans typically starts 1 year after completing the course or six months after getting a job, whichever is earlier.
  • Loan interest re‚Äźpayment will start immediately after disbursement of the first installment of the loan.

Repayment Period

  • Tenure of an Education Loan consists of Duration of Study, Grace Period after the Study and Repayment Period.
  • For Indian courses repayment tenure is maximum of 15 years after the commencement of repayment.
  • For Abroad courses repayment tenure is maximum of 15 years after the commencement of repayment.

Self
Minimum Age (in yrs.)

Minimum Income (in Rs.)

Minimum Work Experience (yrs.)

Residence Status (yrs.)

Id Proof

Address Proof

DOB Proof

Disclaimer: The Details shown may be different from actual. Please confirm on the bank site before process.

Salaried
Minimum Age (in yrs.)

Minimum Income (in Rs.)

Minimum Work Experience (yrs.)

Residence Status (yrs.)

Id Proof

Address Proof

DOB Proof

Disclaimer: The Details shown may be different from actual. Please confirm on the bank site before process.
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