The Union Bank of India offers a study abroad loan to help students pursue higher studies in India and abroad. These loans cover expenses like tuition fees, accommodation, and other related costs. The bank provides financial assistance at competitive interest rates and flexible repayment options, making it easier for students to achieve their educational goals without worrying about financial constraints. Union Bank of India Education Loan interest rates range from 8.50% – 11.85%.

Union Bank of India Education Loan

Union Bank Education Loan Interest Rate: With Collateral

Union Bank Education Loan Interest Rate: Without Collateral

Eligibility Criteria for Union Bank Abroad Education Loan

You must pass the UBI education loan eligibility criteria to ensure your loan is sanctioned smoothly. Learn what you need and prepare your documents accordingly.

Age & Other Mandatory Criteria

• Students must be at least 18; there is no maximum limit
• The student must be an Indian citizen
• The student must have a co-applicant

Academic Criteria

• You must fulfill the minimum academic criteria to apply for a Union Bank education loan.
• You need to clear the prerequisites for the education loan from the Union Bank of India:
• IELTS (International English Language Testing System)
• TOEFL (Test of English as a Foreign Language)
• GRE (Graduate Record Examinations)

Most US universities will require you to score high on the GRE, irrespective of your senior secondary results.

Co-Applicant Requirements

• Your co-borrower must be your parents, siblings, spouse, or blood relative.
• Your co-borrower should be an Indian citizen.
• If you fail to repay your debt, your co-borrower will be eligible to pay

Course & Country of Study

Courses

You can place an application for an education loan to the Union Bank for the following courses:

• Undergraduate courses
• Graduate courses
• Research programs
• Certificate courses
• Diploma courses

Country

• US
• UK
• Canada
• Ireland
• Germany
• Belgium
• Austria
• Singapore
• Japan
• Hong Kong
• New Zealand

Documentation Process

Your documentation process should be 100% correct to receive a low Union Bank of India education loan interest rate. So here are the documents that you will need to produce to obtain a loan.

Submit your documents required for education loan to the Student Cover loan assistant, and they will take care of the rest.

Applicator’s Documents

• Identity Proof
• Aadhar Card
• Pan Card

• Address Proof (Any of the following)

• Electricity Bill
• Gas Bill
• Adhaar Card
• Water Bill

• A valid passport.
• Academic Records:
• 10th Passing Documents
• 12th Passing Document
• Undergraduate Certificate (If applied for graduation course)
• Entrance Exam Certificates
• IELTS Results
• TOEFL Results
• GRE Results
• GMAT Results
• Statement of Purpose: An itemized breakdown of your study abroad expenses, encompassing tuition fees, textbooks, and additional costs.

Co-Applicant’s Documents

• Identity Proof
• Aadhar Card
• Pan Card

• Address Proof (Any of the following)
• Telephone Bill
• Electricity Bill
• Gas Bill
• Adhaar Card
• Water Bill

• Photographs: Two passport-size photographs
• Bank Account Statement:
• Your co-borrower must present their co-applicant's bank account statement for loan takeover.

Income Proof of Co-Applicant

If you want the lowest Union Bank education loan interest​ rate, you must submit your co-borrower's proof of income, too.

• Salaried Co-Borrower:
• Form 16: Provide copies from the last two years.
• Bank Statements: Submit statements of the salary account for the past six months.
• Salary Slips: Present slips for the previous three months.
• Statement of Assets and Liabilities: Detail the co-borrower's financial position.
• Credit Report: Obtain the co-borrower's latest credit report.
• Self-Employed Co-Borrower:
• Income Tax Returns (ITR): Provide returns from the past two years.
• Professional Qualification Certificates: If applicable (e.g., for doctors, lawyers).
• TDS Certificates: Submit the latest Tax Deducted at Source certificates.
• Business Address Proof: Provide documentation verifying the business location.
• Bank Statements: Submit statements from the last six months.
• Statement of Assets and Liabilities: Detail the co-borrower's financial position.
• Credit Report: Obtain the co-borrower's latest credit report.
• Important Notes
• Self-Attestation: Ensure all documents are self-attested where required and are original.
• Clarity of Documents: Provide clear and legible copies to facilitate faster loan approval.
• Additional Requirements: Be prepared to furnish extra documents per the university's requirements.
• Adhering to these guidelines will streamline the application process for an education loan to the Bank​ and enhance the likelihood of approval.

These documents are required for both collateral and non-collateral loans

Union Bank of India Education Loan for Abroad Studies Against Immovable Property

A loan against immovable property is something that you can only get if you have a property to produce as collateral. In that case, you will receive the lowest education loan interest rate for your study abroad.

Here are the following documents you would be required to produce if you want a loan against a property.

Union Bank of India Education Loan Documents Required for Immovable Property

• Title Deed: This legal instrument confirms your ownership rights over a property.
• Registration Documents: These official records detail the property's ownership history, ensuring transparency in its transfer process.
• Property Tax Receipts: These receipts indicate that all due property taxes have been paid, reflecting compliance with local tax obligations.
• Sale Deed: Applicable primarily to recent property transactions, this document records the transfer of ownership from the seller to the buyer.
• Encumbrance Certificate: This certificate verifies that the property is free from legal liabilities or claims, ensuring a clear title for the owner.
• Occupancy Certificate (if applicable): Issued by local authorities, this certificate confirms that the property complies with building codes and is suitable for occupancy.

Non-Collateral Union Bank Education Loan

You can also apply for an abroad education loan without collateral​ through the Union Bank of India. Apply through Student Cover and get loan approval within 7 days.

Here is how you can apply for a Union Bank education loan

Documents for Union Bank Education Loan without Collateral

• Co-Applicant or Guarantor Requirement: You must assign a guarantor to obtain a student loan in India abroad education loan without collateral.
• Eligible Guarantor: Your guarantor can be your parent, sibling, or close-blood relative.
• Proof of Relationship: Submit valid documents verifying your relationship with the guarantor to meet the lender’s guidelines.

Benefits of Non-Collateral Loans

• Non-collateral loans have ample benefits. These benefits include no asset requirement, smooth and fast paperwork, and more.
• So, if you want to apply for UBI's abroad education loan without collateral​ through Student Cover, here are your benefits:
• Zero Asset Requirement, Zero Stress: Secure approval without needing property or asset documentation.
• Swift Approval Process: Experience rapid loan approval with minimal paperwork and no collateral.
• Customized for You: Opt for repayment plans and loan tenures that align perfectly with your financial goals.

Union Bank Education Loan College List

• University of Oxford
• University of Leeds
• University of Hong Kong (HKU)
• University of Groningen
• Utrecht University
• University of Zurich
• Ucl (University College London)
• The University of Warwick
• The University of Melbourne
• The Chinese University of Hong Kong (CUHK)

• University of Missouri, Columbia
• University of Cincinnati
• University of Connecticut
• Stony Brook University
• Lancaster University
• Griffith University
• Eindhoven University of Technology
• Universidad De Granada
• Trinity College Dublin (TCD)
• The University of Auckland
• University of Exeter
• University of Bern
• Universität Hamburg
• Karolinska Institute
• University of Munster

• Harvard University
• Stanford University
• Columbia University
• Princeton University
• University of Pennsylvania
• Johns Hopkins University
• Massachusetts Institute of Technology
• Cornell University
• Purdue University
• University of Michigan
• University of Washington
• Duke University
• North Carolina State University

• London School of Economics And Political Science (LSE) University of Oxford

How to Apply Education Loan in Union Bank of India Through Student Cover

Contact Student Cover

• This is how you can apply for a Union Bank education loan through Student Cover:

• Visit Student Cover Website: https://www.studentcover.in/education-loan/ 
• Call Us at: +919871377966
• Chat With Your Loan Buddy: Chat on Whatsapp

• You will be offered a student buddy who will handle your case end-to-end
• Share your international education loan requirements, i.e., loan type, amount & ROI
• Provide necessary details about your academic and financial profile

Profile Evaluation

• Fill your student profile details by going to the Student Cover CRM Portal.
• Our International Student Loans eligibility assessment team will use our self-created AI tool to evaluate your profile.
• During this process, our team will evaluate the amount of loan you will need, the country you want to move to, and other important factors like loan type and ROI requirement.
• If you are found eligible for an abroad education loan, our team will contact the Union Bank Education Loan department, and you will also be notified about further procedures.

Documentation

• Your loan buddy will ask you to share your school leaving certificate, IELTS, TOEFL, and GRE certificates for faster documentation.
• Now your student loan application and sanction process will start, and you will have to provide your personal and educational information. The information would include documentation of your national identification, educational, and co-signer.
• Your loan buddy will upload these documents on the portal and send them to the Union Bank of India education loan department for the final sanction.

Approval & Negotiation

• Our loan approval time is 24 hours. After which, your loan buddy will notify you through a call or a message. You can also find step-by-step outcomes on our portal.
• In case of ROI negotiation, you can submit your request with your loan buddy or on the portal.
• Your Student Cover Loan Buddy will provide you with Union Bank of India’s final offer.

Processing Fee & Sanction letter

• On Acceptance, you would need to deposit the processing fee. You can make this payment by a cheque or an online transfer through the link your loan buddy will provide you.
• Submit the Receipt & Receive the Loan Sanction Letter in 5-7 Days.

Share & Be in Touch

• You will receive message updates at every step of your loan approval process.
• Share and Keep in Touch

Benefits of Union Bank Education Loan Through Student Cover

Apply for a Union Bank education loan through the Student Cover and receive benefits no other website offers. Want to know what these benefits are?

Take a look and find out!

• Fund Your Global Dreams with Ease: Access up to 40 Lakhs loan with a competitive interest rate, ensuring a worry-free study abroad experience.
• Expert Guidance Every Step of the Way: Get personalized support to maximize your benefits and effortlessly meet your study loan eligibility.
• Loans Designed Around You: Secure a customized education loan tailored to your academic aspirations, study program, and career objectives.
• Exclusive Processing Fee Savings: Fulfill all documentation requirements and enjoy a special discount as we simplify your loan journey.
• 100% Clarity, Zero Surprises: We prioritize transparency from application to disbursement so you can stay focused on your education.
• Seamless Loan Disbursal: With the right loan tenure and a dedicated advisor, your funds will be available exactly when needed.
• A Legacy of Trust: Join the thousands of students who trust Union Bank through Student Cover to fund their global education dreams.

Conclusion

Union Bank of India offers education loans at competitive rates (8.50% – 11.85%) with flexible repayment, up to 1.5 CR financing, and both collateral and non-collateral options. With clear eligibility criteria and proper documentation, students can secure smooth approval for studies in India or abroad.

Applied through Student Cover, the process becomes faster and more guided; making your study abroad journey financially stress-free and well-supported.

FAQs

 What is the Union Bank education loan interest rate in 2026?

Interest rates range from 8.50% – 11.85%., depending on the loan type and profile.

What is the maximum loan amount?

Up to 1.5 CR for higher studies in India or abroad.

 Is collateral mandatory?

No. Both collateral and non-collateral loans are available.

Who can apply?

Indian citizens aged 18+ with confirmed admission and a co-applicant.

Who can be a co-applicant?

Parents, siblings, spouse, or close blood relatives who are Indian citizens.

Which countries are covered?

USA, UK, Canada, Ireland, Germany, Belgium, Austria, Singapore, Japan, Hong Kong, and New Zealand.

What expenses are covered?

Tuition, accommodation, books, and other study-related costs.

 What is the repayment tenure?

Up to 15 years, depending on loan terms. 

How long does approval take?

Typically, within 7 days, subject to document verification.

 Are processing fees high?

Processing fees are low, with possible discounts when applying through Student Cover.