Education and Career Forum

I would like to know about the process through which I can apply for an education loan in Union Bank of India. Actually, I am interested to study Diploma in Hotel Management and for this I want to apply for an education loan. Kindly help me to know about this.

As the first and foremost step, you need to secure a seat in the institute of your choice.

This is necessary because the bank which extends you the facility of loan needs to have a proof that the money they are providing is going to be utilized for the same purpose.

As the second step, you need to ask for the estimate of fees from your institute so that you can submit the same in the bank to get the loan sanctioned.

After this just go to the bank, fill in the required forms and bank will pay the fees to the institute on your behalf.

Follow these steps for applying for a student loan:

Check the course in which you are going to study is recognized by the banks or not.

Figure out how much loan amount you require and how much you are going to arrange on your own.

Compare the student loan provided by different banks for studying abroad and go for the one which caters best to your needs.

After finalizing the bank and the loan amount, fill out the loan application form and approach your bank.

As soon as your loan is approved, the bank will issue a loan document that includes various elements of the loan.

After signing the loan document, the bank will disburse the amount in instalments or as asked by the university.

The procedure to apply for an Education Loan in Union Bank of India is in the following ways given below.

Offline -- You can visit the nearest branch of the bank or walk into the nearest Union Loan Point which is the bank's special retail loan lending branch.

Online -- You can also request a call back from the bank's representative by providing your contact details on the bank's website that is www.unionbankofindia.co.in

In order to pay for loan.
One can either apply online through the official website of bank or else they can also visit tge nearby branch of bank for application purpose.

After filling the application form with required documents they can submit the form.

They must keep the copy of filled form for future reference.

Procedure to apply for an Education Loan in Union Bank of India for Hotel Management Diploma aspirant:-

You must have the following documents to apply for Education Loan Scheme.

1) Mark sheets of academic qualifications.

2) Copy of admission letter of the Institute along with fees schedule.

3) Bank Statement or Pass Book of last 6 months

4) KYC documents

5) Identity proof like voter ID card, driving license, etc.

You have to go to their website and upload the above documents and follow the next procedure to get the loan.

For more details, you can refer to the below link:-
https://www.unionbankofindia.co.in/english/home.aspx