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Union Bank of India Education Loan

Features

Eligibility

Eligibility

The courses should be recognized by the government and concerned authorities.

Must have secured admission to professional or technical courses through an appropriate entrance test or selection process to the said university (in India/abroad)

Loan Amount

Loan Amount

A maximum of Rs. 7.5 lakh for pursuing education in India

A maximum of Rs. 15 lakh to pursue education abroad.

Margin

Margin

No down-payment for loans up to Rs. 4 lakh.

In case of loans of more than Rs. 4 lakh, 5 per cent margin for studies in India and 15 per cent for studies abroad.

Scholarship/assistance to be included in down-payment treated as a part of the loan.

Documents Required

Documents

Completed application form

2 Passport size photograph of each applicant and co-applicant

Proof of income, salary certificate, Income tax returns etc of co-applicant

Proof of Identity ?? PAN Card/ Voters ID/ Passport/ Driving License/College-I card

Copy of admit card and rank card of qualifying admission test/entrance test, proof of admission, offer letter etc ( I-20) in the case of education abroad

Proof of Residence ?? Recent Telephone Bill/ Electricity Bill/ Property tax receipt/ Passport/ Voters ID Bank Account statement/passbook for the previous six months

Proof of Co-applicant business address in respect of businessmen/ industrialists

Sale Deed, , Non encumbrance certificate, Land/ Building Tax paid receipt etc. (as applicable) in case collateral security is offered

Union Bank of India Products:


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