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Union Bank of India

Union Bank of India Education Loan

  • 100% Collateral-free Funding
  • Competitive & Fixed Interest Rates
  • Minimal Documentation
  • Hassle-free Process

Free Education Loan Assistance from Top Education Loan Lenders in India.

Interest Rate Starting From 11%

Loan Amount Upto 5 Crore

Processing Fees Up To 0.5% + Gst

How Union Bank of India Abroad Education Loan Works

Simple 5 Step Process to obtain an Education Loan

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You can apply for a Union Bank of India Education Loan for abroad studies for UG, PG, or PhD courses at recognised international universities
The loan amount can go up to ₹40 lakh without collateral, and up to ₹1.5 crore with collateral
A co-applicant (usually a parent or guardian) is required for the application
Funds are directly sent to the foreign university to cover tuition and other approved expenses
Repayment starts after the course plus a moratorium of up to 12 months is completed

Union Bank of India Education Loan for Abroad Studies

Planning to study abroad but worried about managing your finances? The Union Bank of India Education Loan for Abroad Studies offers the right support to make your dream a reality. With attractive interest rates, flexible repayment options, collateral-free loans for eligible amounts, and student-friendly features, this loan is designed to ease the financial burden of overseas education.

Features of Getting an Unsecured Union Bank of India Education Loan for Abroad Studies

  • No collateral needed up to ₹40 lakh
  • Low interest rates for top institutions and meritorious students
  • Wide course coverage – from MBA to MS, PhD, and other professional courses
  • Accepted in major countries like the USA, UK, Canada, Australia, Germany and more
  • Covers tuition, accommodation, travel, insurance, and other academic costs
  • Up to 15 years repayment tenure with flexible terms

Benefits of Getting a Union Bank of India Education Loan

  • Easy access to funds for international education
  • Government interest subsidies for eligible categories
  • Quick disbursal through trusted banking systems
  • Tax benefits under Section 80E for interest repayment
  • No prepayment charges – repay early with zero penalty

Eligibility for Union Bank of India Abroad Education Loan

  • Applicant must be an Indian citizen
  • Must have a confirmed admission in full-time Post Graduate Courses in the Premium University through entrance examinations conducted by recognized universities / institutions or should have secured admission through any other approved authorities.

Interest Rate of Union Bank of India Education Loan for Studies Abroad

Loan type Quantum Collateral coverage ROI
Special Education Loan Scheme for Abroad Study Category ‘A’ UPTO Rs.40.00 lakh without collateral EBLR+0.50%
UPTO Rs.150.00 Lakh 50% up to <100% collateral EBLR+0.25%
100% and above collateral EBLR
Special Education Loan Scheme for Abroad Study Category ‘B’ UPTO Rs.30.00 lakh without collateral EBLR+0.75%
UPTO Rs.150.00 Lakh 50% up to <100% collateral EBLR+0.50%
100% and above collateral EBLR

EMI Payment Methods for Union Bank of India Abroad Education Loan

Union Bank allows flexible EMI payment through these simple options:

  • Auto-debit from Union Bank account – set and forget
  • Internet banking – pay directly through your online account
  • ECS facility – get it linked with your salary or home account
  • Post-dated cheques (PDCs) – traditional but still accepted
  • EMI starts after your moratorium period, giving you time to settle abroad and find a job

How to Apply for a Union Bank of India Abroad Education Loan?

Applying for a Union Bank of India Abroad Education Loan is easy, with the following steps:

  1. Check your eligibility using Spoctree’s comparison platform
  2. Visit the nearest Union Bank branch or apply through Spoctree for faster help
  3. Submit documents – ID proof, admission letter, mark sheets, co-applicant financials
  4. Loan evaluation – the Bank verifies your documents and academic profile
  5. Loan sanction and disbursement – funds are released to your university in phases
  6. Start repayment after your course and moratorium period ends
Apply Now

Frequently Asked Question

Yes, Union Bank of India is a trusted public sector bank offering Education Loans with low interest rates, no prepayment charges, and options without collateral up to ₹40 lakh. It`s a good choice for students aiming to study abroad.
Indian citizens with confirmed admission in a recognised institution are eligible. Minimum academic marks and a co-applicant with stable income are required. The student should be pursuing a professional, technical, or graduate/postgraduate degree in India or abroad.
It usually takes around 7–15 working days after you submit all required documents. With support from Spoctree, the process may be even faster, especially for pre-approved universities and standard loan schemes.
    Key documents include:
  • Admission letter
  • Academic mark sheets
  • Address & ID proof (student and co-applicant)
  • Income proof of co-applicant
  • Bank statements
  • Course fee structure
The interest rate for the Union Bank of India special education loan for studying abroad varies by scheme and collateral:
    Category A:
  • Without collateral (≤ ₹40 L): EBLR + 0.50%
  • 50–<100% collateral (up to ₹150 L): EBLR + 0.25%
  • ≥ 100% collateral: EBLR
    Category B:
  • Without collateral (≤ ₹30 L): EBLR + 0.75%
  • 50–<100% collateral (≤ ₹150 L): EBLR + 0.50%
  • ≥ 100% collateral: EBLR
You can get up to ₹40 lakh without collateral and up to ₹1.5 crore with collateral, depending on your university, course, and co-applicant’s profile.
Yes, Union Bank of India offers collateral-free Education Loans up to ₹40 lakh for eligible students going to approved foreign universities.
You get up to 15 years to repay your Union Bank Education Loan, including the moratorium period (course duration + 6–12 months).