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Home Study Resources Banks Union Bank of India

Union Bank of India

PURPOSE

  • Basic education
  • To pursue graduation / higher education
  • To pursue technical / professional / management courses

    • ELIGIBILITY

  • Indian citizen
  • Secured admission to the concerned institute in India or abroad through appropriate selection     process and cleared the qualifying examination, if any
  • Courses covered in India
        a) Graduation / post-graduation / diploma courses from recongnized universities.
        b) Technical / professional / management courses.
  • Courses covered outside India
        a) Graduation / post-graduation degrees offered by recongnized universities
        b) Certified degree courses conducted by CIMA, London, CPA, USA and other such institutes
        c) Diploma courses are not covered under Union Education

    • QUANTUM OF LOAN

  • For studies in India - maximum upto Rs. 10 Lakhs. The quantum of loan is higher for the     institutes covered under Special Education Loan schemes. Please check the Special Offers Tab     above for further details.
  • For studies outside India- maximum Up to Rs. 20 Lakhs

    • MARGIN, I.E. YOUR SHARE

  • For loans upto Rs. 4 Lakhs, the margin is nil
  • For loans above Rs. 4 Lakhs, margin is 5% for studies in India and 15% for studies outside India

    • MORATORIUM PERIOD

    The moratorium period is minimum of the following two.
  • Course period + 1 year
  • Course period + 6 months after commencement of job

    • REPAYMENT

  • Repayment period of up to 7 years after moratorium period

    • RATE OF INTEREST AND PROCESSING CHARGES

  • Please click here to know our latest rate of interest
  • Please click here to know our latest processing charges

    • SECURITY

    The security required is as mentioned below.

    Loan amount Security
    Upto Rs. 4 Lakhs NIL
    Rs. 4 - 7.5 Lakhs
  • No collateral security required
  • Third party guarantee is needed
    		•
    Above Rs. 7.5 Lakhs
  • Collateral security of suitable value is required
    		•

    GUARANTEE

  • Parent / guardian of the student who is availing loan have to join in as co-borrower

    • RATE OF INTEREST AND PROCESSING CHARGES

  • The loan shall be sanctioned / disbursed from the branch nearest to the place of domicile of the student
  • Loan would be disbursed directly to the institute

    • Banks

  • State Bank of India
  • Punjab National Bank
  • Andhra Bank
  • Allahabad Bank
  • Indian Overseas Bank
  • Bank of Baroda
  • Indian Bank
  • Bank of Maharastra
  • IDBI Bank
  • Karnataka Bank
  • Bank of Rajasthan
  • Mysore Bank
  • Oriental Bank of Commerce
  • Catholic Syrian Bank
  • Development Credit Bank Limited
  • Dena Bank
  • Federal Bank Ltd.
  • UCO Bank
  • Union Bank of India
  • United Bank of India
  • Central Bank of India
  • Vijaya Banka
  • Nainital Bank
  • ICICI Bank
  • ING Vysya Bank
  • HDFC Bank
  • State Bank of Patiala
  • The Lakshmi Vilas Bank Ltd
  • State Bank of Hyderabad
  • Punjab & Maharashtra Co op Bank Ltd
  • State Bank of Travancore
  • Corporation Bank


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