Challan form of Union Bank of India - 2017 2018 MBA

Union Bank of India Education Loan form

Investment Banking Education / September 27, 2016

  • Be an Indian National
  • Has secured admission to professional or technical courses through an appropriate Entrance Test or selection process
  • Has secured admission to a foreign University
  • Has passed an appropriate qualifying examination


a) Studies in India

  • School education up to +2
  • Graduation/Post-Graduation
  • Professional course
  • Management course
  • Special Education Loan Scheme for Students pursuing courses from approved institutions like IITs/ IIMs/ NIT / XLRI/ BITS/ VIT/ IISc/ S.P. Jain Institute Of Management/ Symbiosis Institute Of Management and T.S. Chanakya, Navi Mumbai- Nautical Science and MERI, Calcutta, Marine Engineering, MERI, Mumbai, Maritime Science.

a) Studies abroad

  • Graduation: For job-oriented professional or technical courses offered by reputed universities
  • Post-Graduation: MCA, MBA, MS and such other courses
  • Courses conducted by CIMA, London, CPA, USA., and such other institution

Loan Details

Coverage of Expenses

  • Hostel/Boarding Fees including caution deposit/building fund etc.
  • Books, Stationery & Equipment required for the course, including Computers.
  • Examination/Library/Laboratory fees.
  • Travel Expenses/Passage for studies abroad.


  • Studies in India : Up to Rs. 10 lacs
  • Studies Abroad : Up to Rs. 20 lacs


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

Service Charge : There is no processing fee /upfront /service charge

Scholarship/assistance to be included in margin.


  • Loans up to Rs. 7.50 lacs - No collateral security is needed
  • For loans above Rs. 7.50 lacs - collateral security of suitable value, along with co-obligation of parents/ guardian/ third party, accompanied by an assignment of future income of the student for payment of installments is required.
Rate of Interest

For Male Student :

  • For loans up to Rs. 4.00 lakhs - 11.75% (Fixed)
  • For loans above Rs. 4.00 lakhs upto Rs.7.50 lakhs - 12.50% (Fixed)
  • For loans Above Rs. 7.50 lakhs - 12.00% (Fixed)

For Female Student :

  • For loans up to Rs. 4.00 lakhs - 11.25% (Fixed)
  • For loans above Rs. 4.00 lakhs upto Rs.7.50 lakhs - 12.00% (Fixed)
  • For loans Above Rs. 7.50 lakhs - 11.50% (Fixed)

Course period + 1 year OR 6 months after job placement, whichever is earlier.

Starting from this point, the loan is to be repaid in 5-7 years after completion of course period/moratorium.

Contact Details

Head Office
Union Bank of India,
239 Vidhan Bhavan Marg, Central Office,
Nariman Point, Mumbai -21