Education Loans in India
Tuesday, January 21, 2020
Education & Career
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United Bank of India Education Loan Scheme

Eligibility : 


  • Applicant must be 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.


a) Studies in India

    Graduation Courses : B.A., B.Com, B.Sc., etc.
  • 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.

a) Studies 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.

Loan Details

Coverage of Expenses

  • 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.


  • Studies in India : Maximum Rs. 10 Lac
  • Studies Abroad : Maximum Rs. 20 Lac.


  • Upto Rs. 4 Lac - Nil
  • For loans above Rs. 4 lacs
    - Studies in India - 5%
    - Studies abroad - 15%


  • Upto Rs. 4 lacs - No Security
  • Above Rs. 4.00 Lacs and upto Rs. 7.50 lakh- Collateral in the form of a suitable third party guarantee.
  • Above Rs. 7.50 lacs -Collateral of suitable value or suitable third party guarantee.
Rate of Interest

Upto 4.00 lac:BPLR – 1.75% i.e.10.25% p.a.
Above Rs. 4.00 lac:BPLR – 1.00% i.e.11.00% p.a.

The loan is to be repaid in 5 to 7 years after commencement of repayment. The repayment will commence after a moratorium/ repayment holiday which is Course period plus 1 year or 6 months after getting job whichever is earlier.

Life Insurance Coverage:
To ensure security to student's and borrower's life and against their loan liability and additional loan componant for payment of one-time premium for such insurance coverage my be sanctioned by bank on request from the customer.

Contact Details

Head Office
United Bank of India,
Hemanta Basu Sarani, Kolkata-700 001 ( West Bengal)
Phone : 033-22133172
E-mail : Contact Now
Website : visit
United Bank of India Regional Offices

Click here for the nearest bank branches

Note : Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.