United Bank of India Education Loan

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Rates as low as 9.33%
Pre-Admission Loans
Study in India / Abroad
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Unsecured Loan Available

United Bank of India Education Loan

United Bank of India Education Loan Summary Table 

United Bank of India Education Loan Amount For India – INR 10 Lacs
For Abroad – 20 Lacs
(Up to ₹ 7.5 lakh without collateral)
United Bank of India Education Loan Interest Rate 9.65% per annum
United Bank of India Education Loan Margin For loan above INR 4 Lacs
In India: 5%
In abroad: 15%
United Bank of India Education Loan Processing Fee Up to INR 4 Lacs: Nil
Above INR 4 Lacs: INR 5000
United Bank of India Education Loan Security

Up to 7.50 Lacs: Only Parent/ Guardian as co-borrower. No Collateral Security or third-party guarantee

Above INR 7.50 Lacs: Tangible security along with parents as co-borrower

United Bank of India Education Loan Repayment Starts After 1 year of course completion or 6 months after getting the job

*Rates and schemes are subject to change

United Bank of India Education Loan Features

United Bank of India Education Loan

Searching for the best banks for education loans? Need money to fulfil your dreams? As Education is becoming costly, pursuing your educational goals is one of the most difficult things to face right now. At Dialabank, we offer you different options of banks that you can use for educational loans.

United Bank of India Education Loan aims to provide financial assistance at the best feasible interest rates to students. With a good amount of loans, you can either stay in India to pursue your course or go to a different country for the best education.

United Bank of India Education Loan Eligibility Criteria

Parameters  Eligibility Criteria
Applicant’s Age Not required
Who Can Apply? Any Indian national who have secured admission in any renowned Indian or Foreign University
Maximum Loan Amount In India – a maximum of ₹10 lakh is required
Abroad – 
a maximum of ₹20 lakh is required
Frequency Of Repayment Quarterly or monthly rests. Starts 1 year after completing the course of six months after getting a job, whichever is first. Loan interest re‐payment will start immediately after disbursement of the first instalment of the loan.
Repayment Period Up to 7.5 lakh – 10 years.
Above 7.5 lakh – 15 years.

United Bank of India Education Loan Interest Rates

Scheme Maximum Loan Amount Interest rate (p.a.)
United Bank of India Education Loan for Indian Education Up to Rs.20 lakh 9.55% – 13.25%
Education loan for Foreign Education No Upper limit 9.55% – 13.25%

*Rates are subject to change

United Bank of India Education Loan Documents Required

Under Know Your Customer Policy (KYC), the bank requires certain documents. These documents might be required from both the student and co-borrower:

Identity Proof

One of any mentioned documents for Identity proof:

  • Passport
  • PAN Card
  • Aadhaar Card
  • Voter’s ID Card
  • Driving Licence
  • Photo Credit Card
  • Central and State Govt. issued Photo ID Proof
  • Defense ID Card.
Residence Proof

One of the following documents for Residence proof (It should not more than 3 months old):

  • Aadhaar Card
  • Ration Card
  • Passport
  • Bank Account Statement
  • Voter’s ID Card
  • Letter from any recognized public authority
  • Telephone Bill
  • Electricity Bill
  • Water Bill
Income Proof in case of salaried co-borrower
  • Salary Slips (not more than 3 months old)
  • Bank Statements (not more than 3 months old)
  • ITRForm-16 (for the last 2 years)
  • Bank account statement (for the last 6 months of salary account)
Income proof for self-employed co-applicant
  • Business address proof
  • IT returns for the last two years (If IT payee)
  • TDS certificate
  • Form 16A if applicable
  • Certificate of qualification (for CA, doctor, and other professions)
  • Bank account statement for the last 6 months.

Additional documents: Aside from KYC documents:

Student Applicant Mandatory Passport submission
Academic Records: X, XII grade results. Graduation results semester wise. Entrance Exam results that formed the basis of admission
Proof of admission: A conditional application letter may be considered
Cost of education, schedule of expenses.
2-passport size photographs
If the loan was taken out before then loan account statement for the last 1 year.
Co-applicant 2-passport size photographs
If the loan was taken out before then loan account statement for the last 1 year.

United Bank of India Education Loan Courses Eligible

Under Graduate Courses B.Com, B.A, B.Sc, Diploma, B.B.M & B.C.A and others
Professional Degrees Engineering, Medical, Agriculture, Nursing, Veterinary, Law, Dental, Management, Computer, Pharmacy, Physiotherapy, Hotel Management, ICWA, CA, CFA, and other professional courses.
Professional Courses from Reputed Institutions IIT, IIM, XLRI, NIFT, well-reputed foreign universities offering courses in India.
Programs offered by Private Universities All courses/degrees recognized by UGC / GOVT. / AICTE /AIBMS / ICMR

Overseas Studies

Graduation Technical/professional courses by renowned universities
Post-Graduation Special courses like, MBA, MS, MCA & Courses by CIMA & CPA

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United Bank of India Education Loan: Takeover of Education Loan

An Education Loan is Transferable, it is basically a process of transferring high-interest debt from one lender to another lender and with a lower interest rate and better repayment policies.

The United Bank of India Education Loan Takeover Of Collateralised Education Loans Scheme can be availed at an interest rate of 1Year MCLR + 1.50% spread. United Bank of India also gives a 0.50% concession in the interest rate for girls.

How To Apply For United Bank of India Education Loan

United Bank of India Education Loan aims to provide financial help to the students who are planning to pursue their graduation, post-graduation, or specialization in any professional or technical courses. To avail of the United Bank of India Education Loan, given below are the steps that you need to follow:

  • Visit Dialabank for an education loan or you can go directly to the United Bank of India Education Loan page on Dialabank.
  • After going on the page, you can fill in your personal and employment details.
  • Once you submit that form, our customer relationship manager will get in touch with you.
  • They will further assist you in the loan approval process.
  • You can get your education loan approved within no time.
  • To know more you can give a call on 9878981166.

List of Approved Institutes

  • Architecture college
  • Law college
  • Medical college
  • Pharmacy college
  • Engineering college
  • Bio-technology
  • college
  • Management college
  • Science, Commerce, and Arts college
  • Physical education college
  • B.ED college