Union Bank Students Personal loan

Students can obtain education loans to pursue higher education in India or abroad. Repayment for these loans begins after the student completes their education, with a grace period of 6 months provided for them to find employment. People are willing to invest significant money in education for a successful future. Union Bank of India, as a leading provider of education loans, understands the needs of students and offers highly competitive loans with favourable interest rates. Each year, several students secure admission to top universities and colleges in India and abroad with the help of education loans from the Union Bank of India. Whether you are planning to pursue undergraduate or postgraduate studies, Union Bank is dedicated to supporting students and offers customised loan options. Take the first step towards shaping your future by using Union Bank's education-focused financial solutions.

Union Bank Personal Loan for Students – Highlights

Here’s a structured table highlighting the key features of the Union Bank student instant loan:

Compare Union Bank Students Personal Loan from other Banks

Here is a comparison between Union Bank student instant loans and other leading banks and NBFCs.

Union Bank Personal Loan for Students – Fees and Charges

The Union Bank education personal loan fees and charges are as follows: 

Union Bank Personal Loan for Students – Documents Required

The following are the documents required for a Union education personal loan:

• Proof of identity: (Passport/ PAN Card/ Aadhar Card)
  
• Proof of address: (electricity/ telephone bill)
  
• Other required documents include a bank statement for the last year, admission documents, and a schedule of expenses.
  
• Additionally, applicants must submit mark sheets, three photographs, proof of any outgoings, a loan repayment statement, applicable LIC policies, and any other documents specified in the application form.
  
• Lastly, salaried individuals must provide their income tax returns for the past year, Form-16 or a letter from their employer, and salary slips for the last six months, while business owners must provide their income tax returns for the past three years and a profit and loss balance sheet.

Union Bank Personal Loan for Students – Eligibility Criteria

Union Bank student personal loan eligibility criteria are as follows:

• The loan applicant must be an Indian resident and have confirmed admission to recognised educational institutions in India or abroad.
  
• The candidate must be between 18 and 35 when applying for the loan.
  
• They should be pursuing a graduate/postgraduate degree or a PG diploma.
  
• Additionally, the applicant must have gained admission to a college or university affiliated with UGC/AICTE/Govt. etc. If the student is enrolled in a full-time course, they must have a co-applicant who can be a parent/guardian or spouse/parent-in-law (if married).
  
• The co-applicant must have a regular source of income. Having a strong academic record will help expedite the loan approval process.