Union Bank of India Education Loan

Union Bank Education Loan Schemes and Interest Rates 2026

What are the Various Union Bank Education Loan Schemes for Students in 2026?

1. Union Education Loan: Empowering Aspirations

   • Interest Rate: 10.65% – 12.55% p.a
   • Processing Fee: Nil (for Indian students)
   • Collateral Requirements:
     • Loans up to ₹4 lakh: No collateral required
     • Loans up to ₹7.5 lakh: Third-party guarantee required
     • Loans above ₹7.5 lakh: Tangible collateral required
     • Loan Tenure: Up to 15 years after the moratorium period
     • Eligibility: Indian nationals

2. Union Special Education Loan Scheme

   • Interest Rate: 9.05% p.a. to 10.80% p.a.
   • Processing Fees: None
   • Collateral: No collateral required
   • Loan Tenure: Up to 15 years after the moratorium period
   • Eligibility: Indian nationals who have secured admission to premier educational institutions in India

3. Union Special Scheme for Tier II Management and Technical Institutes

   Combining child education plans with a Union Bank of India Education Loan ensures better preparedness for rising education costs

   • Interest Rate: 10.30% p.a. to 10.80% p.a.
   • Processing Fees: None
   • Collateral Requirements: Loans up to ₹7.5 lakh: No collateral required Loans above ₹7.5 lakh: Tangible collateral required
   • Loan Tenure: Up to 15 years after the moratorium period
   • Eligibility: Indian nationals who have secured admission to Tier II management and technical institutions within India

Investment

Secure

Secure your child’s future with or without you

Start Investing

₹10,000/Month

& Get

₹1 Crore^*

VIEW PLANS

*Standard T & C Apply

How to Apply for Union Bank Education Loan in 2026(Online/Offline)

Union Bank provides convenient options for applying for an education loan through both online and offline channels.

For students and parents, a Union Bank of India Education Loan stands out among the best investment plans in 2026 by prioritising higher education

1. Offline Application

   • Go to the closest branch of Union Bank or Union Loan Point (ULP).
   • Complete and fill the application form.
   • Turn the form with the needed documents to the bank representative.

2. Online Application

   • Go to the Union Bank official site.
   • Call back, leave your contact information.
   • Create electronic versions of necessary papers.
   • Receive a call from a bank representative.

   Adhere to instructions, make submissions online, and go through with the application process.

Documents Required to Apply for Union Bank Education Loan in 2026

1. Basic Documents

   • PAN Card
   • Admission documents (admission letter and admit card)
   • Proof of address (Electricity bill, Telephone bill, Ration card, etc.)
   • Proof of identity (Passport, PAN Card, Employee ID, etc.)
   • Schedule of expenses (fees and living costs)
   • Mark sheets from Class X onwards
   • Bank statements for the last 12 months
   • Passport-size photographs (3 copies)

2. Additional Documents

   • Proof of outgoings (if any)
   • LIC policies (if any)
   • Loan repayment statement (if any)
   • Any additional documents as required in the application form.

3. Income Proof

   Salaried Individuals:

   • Income Tax Returns (last year)
   • Form 16 or employer letter
   • Salary slips for the last 6 months

   Agriculturists:

   • Income certificate from Tahsildar
   • Proof of landholding

   Business Owners:

   • Income Tax Returns for the last 3 years
   • Profit & Loss statement and Balance Sheet

Minimum Marks Required for Education Loan Eligibility in 2026

With a Union Bank of India Education Loan, students can manage tuition fees, accommodation, and other academic expenses efficiently.

1. For Studies Abroad<

   Category	Minimum Marks
   OBC	50%
   SC/ST	50%
   General	60%

2. For Studies in India

   Category	Minimum Marks
   OBC	55%
   SC/ST	50%
   General	60%

   A child plan calculator provides clarity on projected costs, and a Union Bank of India Education Loan ensures those expenses are manageable at the right time.