Education and Career Forum

Sir, I am willing to apply for an education loan to United Bank of India for degree course. Please send me procedure to apply for education loan? Terms and condition for it?

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Sir, I am willing to apply for an education loan to United Bank of India for degree course. Please send me procedure to apply for education loan? Terms and condition for it?

Indian students who got admission to the professional / technical / academic courses through entrance test or merit based selection process are eligible to apply for education loans in United Bank of India. The maximum amount of education loan to study in India is Rs 10 Lakhs and foreign institutions are Rs 20 Lakhs. The repayment period for education loan in United Bank of India is 15 years. There is no margin money required for an education loan of Rs 4 Lakhs. For an education loan of up to Rs 7.5 Lakhs security required is as follows: co – obligation of parents without any collateral security and third party security. For an education loan of over Rs 7.5 Lakhs collateral security of adequate value to cover the loan amount should be required. Students can contact the United Bank of India branch nearest to their permanent address for education loan. United Bank of India website link is given Click Here

To apply for an education loan in United Bank of India, you should have secured admission in any course in a recognised college/ university. You have to submit the documents like Admission Letter, Income Proof, Residence Proof, Identity Proof, etc., for processing your education loan. No security is required to get an education loan of upto Rs. 4 lakhs and for taking an education loan of more than Rs. 7.5 lakhs, you should have to submit the collateral security documents as proof to bank for sanctioning your education loan.