United Bank Education Loan

United Bank Education Loan

 Scheme has been designed to meet your expenses for higher studies in India and abroad. 

If you are an Indian National and secured an admission to any of the following academic/ professional/ technical courses through Entrance Test/ Selection process in a Board/ Institution/ University.

Courses Eligible for Study in India

  • Post Graduation Courses : Masters and Ph.D.
  • Professional Courses : Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc.
  • Computer Certificate Courses of reputed Institutes accredited to Dept. of Electronics or Institutes affiliated to University.
  • Courses like ICWA, CA, CFA, etc.
  • Courses conducted by IIM, IIT, IISC, XLRI, NIFT, etc.
  • Courses offered in India by reputed foreign Universities.
  • Evening Courses of approved Institutes.
  • Other Courses leading to Diploma/ Degree, etc. conducted by Colleges/ Universities approves by UGC/ Govt./ AICTE/ AIBMS/ ICMS, etc.

Courses Eligible for Study Abroad

  • Graduation : For job-oriented professional/ technical courses offered by reputed Universities.
  • Post Graduation : MCA, MBA, MS, etc.
  • Courses conducted by CIMA - London, CPA in USA etc.


The student of Indian national to pursue admission to a professional/technical course through entrance test / merit based selection process either inland or abroad.


Courses conducted by reputed Indian/foreign institutions

Quantum of Loan

  • For study in India : Max. Rs. 10 lac
  • For study abroad : Max. Rs. 20 lac


1.00% interest concession is allowed during moratorium period only, if the interest is serviced monthly & regularly during the moratorium period

Other Rules

Expenses covered under the scheme

  • Fees payable to College/ School/ Hostel
  • Examination/ Library/ Laboratory Fee
  • Purchase of Books/ Equipments/ Instruments/ Uniforms
  • Caution Deposit/ Building Fund/ Refundable Deposit supported by Institution Bills/ Receipts
  • Travel Expenses/ Passage Money for studies abroad
  • Purchase of Computers : Essential for completion of the Course
  • Any other expenses required to complete the Course like study tours, project work, thesis etc.

Rate of Interest : Click here to view


  • For loan upto Rs. 4.00 Lac - Nil
  • For loan above Rs. 4.00 Lac
    • For study in India - 5%
    • For study abroad - 15%

Repayment of Loan:

For loans upto Rs.7.5 Lac- not exceeding 10 years.

For loans above Rs. 7.5 Lac- not exceeding 15 years

Life Insurance Coverage

To ensure security to student's and borrower's life against their loan liability and additional loan component for payment of one-time premium for such credit life insurance coverage may be sanctioned by bank on request from the customer


The accrued interest during repayment holiday period, if not serviced, is to be added to the principal and EMI of loan is fixed considering the principal and the capitalized interest amount


  • Upto Rs. 4.00 Lac : No Security (only co-obligation of parents)
  • Above Rs. 4.00 Lac and upto Rs. 7.50 Lac: Third party guarantee along with co-obligation of parents
  • Above Rs. 7.50 Lac: Co-obligation of parents together with tangible collateral security of adequate value to cover the loan amount along with the assignment of future income of student for payment of installments


  • Assignment of future income of student for repayment of loan to be done in all cases.
  • The document should be executed by both the student and the parent/ guardian.
  • The security may be of mortgage of land/ building/ paper securities provided the value of the same covers the required loan amount
  • In case the loan is given for purchase of Computer, the same is to be hypothecated to the Bank

                                                                                                                                 For further details, please click here