United Bank of India Education Loan – Interest Rate

Scholarship Examination in India
United Bank of India Education Loan
Union Bank of India Education Loan

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United Bank of India Education Loan- Student Loan in India


Courses Eligible for Study in India

  • Post Graduation Courses : Masters and Ph.D.
  • Professional Courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc.
  • Computer Certificate Courses of reputed Institutes accreditedto Dept. of Electronics or Institutes affiliated to University.
  • Courses like ICWA, CA, CFA, etc.
  • Courses conducted by IIM, IIT, IISC, XLRI, NIFT, etc.
  • Courses offered in India by reputed foreign Universities.
  • Evening Courses of approved Institutes.
  • Other Courses leading to Diploma/ Degree, etc. conducted by Colleges/ Universities approves by UGC/ Govt./ AICTE/ AIBMS/ ICMS, etc.


Courses Eligible for Study Abroad

  • Graduation : For job-oriented professional/ technical courses offered by reputed Universities.
  • Post Graduation : MCA, MBA, MS, etc.
  • Courses conducted by CIMA- London, CPA in USA etc.



The student of Indian national to pursue admission to a professional/technical course through entrance test / merit based selection process either inland or abroad.



Courses conducted by reputed Indian/foreign institutions


Quantum of Loan

  • For study in India : Max. Rs. 10 lac
  • For study abroad : Max. Rs. 20 lac



1.00% interest concession is allowed during moratorium period only, if the interest is serviced monthly & regularly during the moratorium period


Other Rules

Expenses covered under the scheme

  • Fees payable to College/ School/ Hostel
  • Examination/ Library/ Laboratory Fee
  • Purchase of Books/ Equipments/ Instruments/ Uniforms
  • Caution Deposit/ Building Fund/ Refundable Deposit supported by Institution Bills/ Receipts
  • Travel Expenses/ Passage Money for studies abroad
  • Purchase of Computers : Essential for completion of the Course
  • Any other expenses required to complete the Course like study tours, project work, thesis etc.


Rate of Interest : Click here to view



  • For loan upto Rs. 4.00 Lac – Nil
  • For loan above Rs. 4.00 Lac
  • For study in India – 5%
  • For study abroad – 15%


Life Insurance Coverage

To ensure security to student’s and borrower’s life against their loan liability and additional loan component for payment of one-time premium for such credit life insurance coverage may be sanctioned by bank on request from the customer



  • Upto Rs. 4.00 Lac : No Security (only co-obligation of parents)
  • Above Rs. 4.00 Lac and upto Rs. 7.50 Lac: Third party guarantee along with co-obligation of parents
  • Above Rs. 7.50 Lac: Co-obligation of parents together with tangible collateralsecurity of adequate value to cover the loan amount along with the assignment of future income of student for payment of installments



  • Assignment of future income of student for repayment of loan to be done in all cases.
  • The document should be executed by both the student and the parent/ guardian.
  • The security may be of mortgage of land/ building/ paper securities provided the value of the same covers the required loan amount
  • In case the loan is given for purchase of Computer, the same is to be hypothecated to the Bank

For further details, please click here


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