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Sep 8, 2024 · The Union Bank is the only Government Bank that provides an UnSecured Education Loan of up to Rs 40 lacs, compared to other public banks, whose maximum limit is Rs 7.5 Lacs. The Union Bank interest rate for an Unsecured Education Loan starts at 9.25%, which includes a 0.5% concession for female students.
- 9.75%
- up to Rs 150 Lacs
- 15%
- up to Rs 40 Lacs
Sep 4, 2024 · When it comes to education loans, the Union Bank of India distinguishes itself by offering both secured and unsecured loans to cater to the financial needs of students. The banks offer up to INR 1.5 cr as education loans with collateral. The Union Bank education loan without collateral extends up to INR 40 Lakh.
Given below are the different banks that offers educational loans without any collateral for foreign education: Bank Name. Loan Amount. HDFC Bank. Domestic Education - Up to Rs.30 lakh lakhs Foreign Education - Up to Rs.45 lakh. State Bank of India (S.B.I.) Domestic Education - Up to Rs.15 lakh Foreign Education - Up to Rs.1.5 crore.
- The following are the benefits of receiving an education without providing collateral: Processing time is reduced. There is less paperwork.
- It is really simple to apply for a collateral-free college loan. You must first complete the online application form and submit it to the bank's of...
- In contrast to commercial banks, which are known to charge up to 1% of the loan amount plus G.S.T., public banks do not charge processing costs for...
- The lender accepts non-agricultural land, fixed deposits, life insurance, bungalows, flats, houses, and other types of collateral.
- Yes, lenders charge higher interest rates for school loans without collateral since lenders do not require anything as collateral to protect their...
- Eligible Courses and Colleges
- Requirements to Apply For Union Bank Education Loan
- Interest Rates For Union Bank Study Abroad Loan
- Union Bank Study Abroad Loan Repayments Terms
- How to Apply For Union Bank of India Study Abroad Loan
- Union Bank Study Abroad Loan Disbursal Process
- Get Started with Wise: The World’S Most International Account⁷
Union Bank Education Loan for Study Abroad is available for graduation and post-graduation degrees from recognized foreign universities.¹ The loan also covers specialised certificate courses such as CIMA (from London), CPA (from the US), and Ph.D. programs. Other courses, such as diploma programs, are not eligible for this loan. The Special Union E...
Union Bank of India has specific prerequisites for international education loans that differ from domestic ones. Read through the requirements for each type of loan to find the best fit for you.
The effective rate of interest for education loans offered by the Union Bank of India depends on four different factors:³ 1. The type of loan. 2. Whether the loan is covered under CGFSEL. 3. The student’s gender. 4. The value of the collateral offered. The education loan interest rate is based on the Reserve Bank of India’s External Benchmark Lende...
Once your education loan is approved, you won’t need to start repayments until you have completed your course, plus an additional 12 months after. This grace period during which no repayments are required is called a moratorium. After the moratorium period ends, the bank will expect you to start making your monthly repayments on the loan. Although ...
Union Bank of India accepts online applications for education loans through the Vidya Lakshmi portal. You can also visit the nearest bank branch and complete the loan application in person.
Generally, Union Bank of India takes a week to ten days to approve an education loan if the application is complete. Union Bank of India disburses the loan funds directly to the university according to the provided payment schedule. You must have the pro-rata margin amount in the Union Bank Savings Account before the loan money can be paid out. Any...
Starting a new course as an international student can come with many expenses. Once you arrive abroad for your studies, check out the Wise multi-currency account available for residents living in supported countries. Enjoy an account as worldly as you are and spend just like a local when you travel abroad with a linked debit card, while also paying...
- Aditya Shrivastava
Apr 15, 2024 · The bank offers education loans under the Union Education Premier Abroad scheme and you can get up to INR 40 lakh without collateral. The bank takes less than 7 days to process an education loan. However, this depends on various factors such as submitting the loan application, providing relevant documents, collateral etc.
Jul 8, 2024 · Citizens Bank offers loan amounts from $1,000 to $350,000 (depending on degree) or that cover the total cost of education (for undergraduate and graduate loans). Co-signer release.
People also ask
Does Union Bank offer unsecured education loans?
Does Union Bank of India offer education loans for abroad studies?
Does Union Bank of India offer education loans?
What is Union Bank interest rate for unsecured education loans?
Can a student get a loan from Union Bank?
How long does a Union Bank education loan take?
HSBC. Loan up to Rs.5 lakh do not require collateral. State Bank of India (SBI) Domestic Education - Up to Rs.15 lakh. Foreign Education - Up to Rs.1.5 crore. For loans up to Rs.7.5 lakh no collateral is required. Punjab and Sind Bank. Domestic Education - Up to Rs.15 lakh. Foreign Education - Up to Rs.20 lakh.
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related to: Does Union Bank offer unsecured education loans?Today's Best Student Loan Rates. Compare and Save with the Lowest APR Available. Compare the Best Student Loan Providers for Parents and Students. Learn More.
