Union Bank
Education Loan
Union Bank of India
For Studying Abroad
Free Education Loan Assistance From Collegepond!
Interest Rate
Starting from 9.75%
Loan Amount
1 Crore
Processing Fees
up to 0.5% + GST
Education Loan Process at Collegepond
Simple 4 Step Process to Obtain an Education Loan via Collegepond!
Verify Your Education
Loan Eligibility
Use our free tool to check your eligibility and access conditional loan options instantly.
Connect with our
Education Loan Advisors
Consult our dedicated loan advisors for personalized guidance and process insights.
Share Documents and
Complete the Application
Submit your documents and fill out the required forms for bank verification and review.
Secure the Best
Education Loan Offer
Our experts negotiate for you to secure the lowest interest rates and maximum loan amount.
Education Loan Approval
and Fund Disbursement
Receive the sanction letter and enjoy hassle-free disbursement of funds from the lender.
Connect with Our Education Loan Advisors
Consult our dedicated loan advisors for personalized guidance and process insights.
Share Documents and Complete the Application
Submit your documents and fill out the required forms for bank verification and review.
Secure the Best
Education Loan Offer
Our experts negotiate for you to secure the lowest interest rates and maximum loan amount.
Education Loan Approval and Fund Disbursement
Receive the sanction letter and enjoy hassle-free disbursement of funds from the lender.
Why Choose Union Bank of India for Education Loan?
All You Need to Know about About UBI Education Loan
Table of Contents
About Union Bank of India
Union Bank of India (UBI) is a leading public sector bank, established in 1919, with a strong domestic and international presence. With 8,700+ branches and 12,900+ ATMs, UBI provides a range of financial services, including education loans to support students pursuing higher studies in India and abroad.
UBI’s education loans offer affordable interest rates, collateral-free options up to ₹40 lakh, zero processing fees, and flexible repayment plans, making it a preferred choice for students. The bank also participates in government-backed loan schemes, ensuring easy access to education financing.
Key USPs
- High Loan Amounts: UBI offers education loans up to INR 1 crore for studies abroad, accommodating a wide range of educational expenses.
- Competitive Interest Rates: Interest rates start at 9.80% per annum, making education financing more affordable.
- Collateral-Free Loans: Students can avail collateral-free loans up to INR 40 lakh, reducing the financial burden on families.
- Zero Processing Fees: UBI waives processing fees, resulting in significant savings for applicants.
- Swift Processing: Loan approvals are processed promptly, ensuring timely financial support.
Required Documents
- Identity Proof: Passport, PAN Card, or Employee Identity Card.
- Address Proof: Electricity bill, telephone bill, ration card, or other valid proof.
- Academic Records: Mark sheets from Class X onwards.
- Admission Proof: Admission letter or admit card from the educational institution.
- Financial Documents:
- Salaried Individuals: Latest salary slips, Form-16, and IT returns.
- Self-Employed Individuals: IT returns for the last 3 years and balance sheet.
- Agriculturists: Income certificate from the relevant authority.
- Bank Statements: Statements for the last 12 months.
- Photographs: Recent passport-sized photographs.
Union Bank of India Education Loan Products
Secured Education Loan (With Collateral)
- Requires collateral such as immovable property, fixed deposits, etc.
- Loan amount up to ₹1 crore for studies abroad (based on collateral value and course).
- Interest rate starts at 9.80% per annum.
- 0.50% interest concession for female students.
- Repayment tenure of up to 15 years (including moratorium).
- Moratorium includes course duration + 6 months to 1 year.
- Covers tuition, travel, living expenses, books, equipment, etc.
Unsecured Education Loan (Without Collateral)
- No collateral required.
- Loan amount up to ₹40 lakh (based on academic profile and institution).
- Interest rate typically starts around 10.50%.
- Zero processing fees.
- Repayment tenure of up to 10 years.
- Includes a moratorium period (course + 6 months to 1 year).
- Suitable for students with strong academic and financial co-applicant profiles.
Common Features for Both Loans
- Co-applicant mandatory (usually a parent/guardian).
- Loan covers all major education-related expenses.
- Income Tax benefits available under Section 80E on interest paid.
- Flexible disbursement aligned with the institution’s fee schedule.
Application Process via Collegepond
While specific details about applying through Collegepond are not provided in the available sources, the general application process with UBI Bank involves:
- Connect with Our Education Loan Advisors: Consult our dedicated loan advisors for personalized guidance and process insights.
- Share Documents and Complete the Application: Submit your documents and fill out the required forms for bank verification
Secure the Best Education Loan Offer: Our experts negotiate for you to secure the lowest interest rates and maximum loan amount.
- Education Loan Approval and Fund Disbursement: Receive the sanction letter and enjoy hassle-free disbursement of funds from the lender.
Eligibility Criteria
- Nationality: The applicant must be an Indian citizen with valid proof of identity and residence.
- Admission Requirement: The student must have secured confirmed admission to a recognized university or institution in India or abroad before applying for the loan.
- Academic Performance:
- General Category: A minimum of 60% marks in the last qualifying examination.
- OBC/SC/ST Category: A minimum of 50% marks in the last qualifying examination.
Loan Disbursement Process:
- Loan Sanction & Agreement – Applicant and co-borrower sign the loan agreement; collateral verification (if applicable) is completed.
- Fee Structure Submission – The student submits the official fee schedule from the university.
- Direct Payment to Institution – Funds are directly transferred to the university for tuition and other approved expenses.
- Installment-Based Disbursement – Loan is disbursed in phases as per the course duration and fee structure.
- Utilization Check – The bank may request fee receipts/invoices to ensure funds are used for educational expenses.
Loan Processing Charges:
- ₹0 Processing Fees – UBI does not charge any processing fees for education loans.
- No Prepayment Charges – Students can repay early without penalties.
- Minimal Legal & Valuation Charges – Applicable only for secured loans (collateral-based).
Partial Simple Interest
During the moratorium period, which includes the course duration plus 6 months to 1 year, borrowers have the option to pay Partial Simple Interest (PSI). This prevents the interest from compounding, ensuring that the total repayment amount remains lower. If PSI is not paid, the accrued interest is added to the principal, increasing the overall loan cost. Choosing PSI helps in managing repayment more efficiently and reducing the financial burden after the moratorium period ends.
Income Tax Benefits under Section 80E
- Borrowers can claim tax deductions on the interest paid on their education loan under Section 80E of the Income Tax Act.
- The deduction is applicable for 8 years or until the entire interest is repaid, whichever is earlier.
- There is no upper limit on the amount that can be claimed as a deduction.
- This benefit is available only to the individual who repays the loan (student or co-borrower).
Our Expertise at Collegepond
At Collegepond, we go beyond just guiding students—we ensure a seamless education loan experience by leveraging our expertise and strong partnerships with lenders like Prodigy Finance. Our comprehensive support helps students secure the best loan terms with minimal hassle.
Why Choose Collegepond for Your Education Loan?
Personalized Loan Advisory: Our experts assist you in selecting the most suitable lender and navigating the loan sanctioning process efficiently.
✅ End-to-End Assistance: From application to disbursement and even repayment, we ensure a smooth, hassle-free journey—even after you receive the UBI Education loan sanction letter.
✅ Fast-Track Processing:
- Unsecured Loans: Sanctioned within 3 days.
- Secured Loans: Typically processed within 10-14 days.
✅ Exclusive Interest Rate Discounts: We help you negotiate competitive interest rates, often securing an additional discount of 0.5-2%.
✅ 100% Digital Process: No need for multiple bank visits! Our digitized loan application process ensures quick approvals from the comfort of your home.
With Collegepond’s expertise, you don’t just get a loan—you get the best financial solution to fund your global education dreams.
Choose from the Best Loan Partners
Testimonials
I’m extremely grateful to Collegepond for securing the right education loan for my study abroad journey. The entire process was seamless, with no documentation hassles. Their dedicated support and expert guidance ensured everything went smoothly. I highly recommend Collegepond for stress-free financial assistance. Thank you once again!
Collegepond provided exceptional support in my study abroad journey, making my MS application process seamless. Their professionalism and prompt responses addressed all my concerns. Special thanks to Sai Teja from the finance team for his invaluable guidance in securing my education loan. I highly recommend Collegepond for reliable education loan and higher education assistance!
I highly recommend Collegepond to anyone pursuing study abroad opportunities. Their expertise and dedication were evident throughout my journey. Kavita’s assistance made my education loan process seamless, while Harshali’s mock interviews boosted my confidence. Their personalized guidance eased the process, making my dream a reality. Truly grateful for their exceptional support!
I had an amazing experience with Collegepond in Mumbai during my study abroad journey, especially with Ms. Zainab Qureshi. Her dedication and professionalism made my loan process seamless. She provided constant support, detailed guidance, and proactive follow-ups. I highly recommend Collegepond and Ms. Zainab for reliable and efficient loan consultancy services!
I had a wonderful experience with Collegepond during my study abroad journey, especially with Mukesh, who provided exceptional education loan support. He explained everything clearly and resolved issues promptly. His dedication ensured a smooth process. I highly recommend Mukesh and Collegepond for reliable and professional financial guidance!
Thanks to Collegepond, my son can now pursue his study abroad dream—his Master's in IT and Analytics at Rutgers Newark. After months of PSU bank delays, Collegepond secured his education loan within a month. Their seamless process, expert guidance, and quick approvals made all the difference. Truly grateful for their exceptional support! Testimonial by Aditya’s Father
I highly recommend Collegepond for study abroad and education loan support. Their expertise made my journey seamless. Kavita ensured a hassle-free loan process, while Harshali’s mock interviews boosted my confidence. Their personalized guidance eased every step, making my dream a reality. Truly grateful for collegepond education loan teams exceptional support!
Collegepond Loan Services are ideal for study abroad aspirants seeking an education loan. Their network offers great rates and seamless processing. The team’s guidance made my loan journey smooth, and their quick FOREX services impressed me. Highly recommend Collegepond for hassle-free financial support. Truly grateful for their support!
FAQ's
What is the maximum loan amount offered by Union Bank of India for education loans?
UBI offers education loans up to ₹1 crore for students pursuing studies abroad.
Can I get an education loan from UBI without collateral?
Yes, UBI provides collateral-free loans up to ₹40 lakh, depending on the applicant’s profile and course.
What is the interest rate for UBI education loans?
The interest rate starts at 9.80% per annum, with a 0.50% concession for female students.
What is the repayment tenure for UBI education loans?
Repayment typically starts after course completion + 1 year and can extend up to 15 years.
What documents are required for a UBI education loan?
Applicants and co-applicants must submit:
Identity Proof: Passport, PAN Card, Employee ID
Address Proof: Electricity bill, telephone bill, ration card, etc.
Academic Records: Mark sheets from Class X onwards
Admission Proof: Admission letter from the university
Financial Documents:
- Salaried Individuals: Latest salary slips, Form-16, IT returns
- Self-Employed Individuals: IT returns (last 3 years), balance sheet
- Agriculturists: Income certificate from the relevant authority
✔ Bank Statements: Last 12 months
✔ Photographs: Recent passport-sized photos
How long does it take for UBI to process an education loan?
Loan approvals are processed in as little as 4 days, ensuring quick financial assistance.
Does UBI charge a processing fee for education loans?
No, UBI does not charge any processing fees, resulting in cost savings for applicants.
Can I apply for a UBI education loan before securing university admission?
No, a confirmed admission to a recognized institution is required before applying.
What are the eligibility criteria for UBI education loans?
Nationality: Applicant must be an Indian national
Admission Status: Confirmed admission to a recognized institution in India or abroad
Academic Performance:
For studies abroad:
- General Category: Minimum 60% marks in the qualifying exam
- OBC/SC/ST: Minimum 50% marks
How is the loan amount disbursed by UBI?
The loan amount is disbursed directly to the university as per their fee schedule, ensuring timely payment.
Can I get an education loan from UBI for undergraduate studies?
Yes, UBI provides loans for both undergraduate and postgraduate programs in India and abroad.
What are the tax benefits on UBI education loans under Section 80E?
Borrowers can claim tax deductions on the interest paid for up to 8 years under Section 80E of the Income Tax Act.
How can Collegepond help me secure the best UBI education loan?
Collegepond assists students with:
✔ Loan eligibility evaluation
✔ Application and document submission
✔ Negotiation for better terms
✔ Faster approval processing
For personalized guidance, consult a Collegepond counselor to get the best financial support for your education.
