Good People to Bank With
Interest Rate
10.40%
Max Loan
₹1 Crore
Max Tenure
15 years
Processing Fee
NIL
Union Bank of India provides education loans under the Union Education Scheme for both domestic and international studies. Post its merger with Andhra Bank and Corporation Bank, Union Bank has a significantly expanded network.
| Parameter | Details |
|---|---|
| Bank Name | Union Bank of India |
| Bank Type | Govt Banks |
| Interest Rate | 10.40% – 11.20% |
| Maximum Loan Amount | ₹1 Crore |
| Maximum Tenure | 15 years |
| Processing Fee | NIL |
| Moratorium Period | Course period + 12 months |
| Eligible Schemes | Padho Pardesh, CSIS, Skill |
| Loan Category | Interest Rate (p.a.) |
|---|---|
| Up to ₹4 Lacs | 10.40% p.a. |
| ₹4L – ₹7.5 Lacs | 10.90% p.a. |
| Above ₹7.5 Lacs | 11.20% p.a. |
Rates are indicative. Final interest rate depends on applicant profile, course, institute, and collateral provided.
Nil processing charges
Covers India and abroad
All government subsidy schemes eligible
Moratorium: course + 1 year
0.5% concession for female students
Advantages
Disadvantages
Indian national
Secured admission
Co-applicant required
Apply at branch or Vidyalakshmi portal
Submit documents
Approval in 10–15 days
Disbursement
Pro Tip: Apply at least 4–6 weeks before your course fee payment deadline to avoid last-minute delays.
Good People to Bank With
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Eligible Government Schemes
Padho Pardesh, CSIS, Skill
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