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Special Union Education Loan Schemes for Premier Institute Abroad Studies

The student should be an Indian National and Secured admission in full time Post Graduate Courses in the Premium University Abroad through entrance examinations conducted by recognized universities / institutions or should have secured admission through any other approved authorities.

Tuition fee payable to college/ school/ university.
Hostel / mess charges.
Examination/ Library/ Laboratory fee.
Insurance premium for the student borrower.
Caution deposit, building fund/ refundable deposit supported by.
Travel expenses /passage money for studies abroad.
Purchase of books/ equipment’s/ instruments/ uniforms.
Purchase of computer/laptop at reasonable cost, if required for.
Any other expense required to complete the course - like study.
In case of University/institute in Germany, wherein these institutions/universities do not charge any tuition fee for their course. The expenses such as cost of books, hostel & mess charges, etc. can be funded subject to a minimum margin of 30% of such expenses (irrespective of the loan amount).

Note:

Reasonable lodging and boarding charges will be considered in case the student chooses/is required to opt for outside accommodation.
These expenses can be considered subject to the condition that the amount does not exceed 10% of the total tuition fees for the entire course.
It is likely that expenditure under Para 2.7, 2.8 & 2.9 above may not be available in the schedule of fees and charges prescribed by the college authorities. Therefore, a realistic assessment may be made of the requirement under these heads. However, the maximum expenses included under Para 2.7, 2.8 ∧ 2.9 is to be capped at 20% of the total tuition fees payable for completion of the course

Minimum :	Rs.7.50 Lakhs
Maximum :	Rs.150.00 Lakhs

The courses eligible for loan in top premier institutes is enclosed in Annexure -I.

Above Rs.7.50 lakh to Rs.40.00 lakh: 15%

Above Rs.40.00 lakh to 150.00 lakh: -

If minimum 100% collateral security is offered by the borrower margin shall be NIL and Rs.10,000/- to be collected as processing charges.
In all other cases 15% margin and minimum 50% collateral security shall be obtained from borrower.

Note:

Collateral coverage of the loan will be decided on principal loan amount and interest accumulation during course and moratorium period.
Any scholarship received by the student is to be treated as margin and borrower has to deposit the scholarship amount in the bank account.

If the student has paid the first term fee for securing the admission in the colleges/ universities and approaches us for loan along with reimbursement of the fee paid, then the same is permitted within 6 months of securing admission; on production of original receipt / proof of payment.
If the borrower temporarily arranges for the funds to pay the term fee during the sanction process, then the same can be reimbursed to the student, upon request and production of original receipt / proof of payment.

In cases where the mess charges/living expenses are not mentioned/indicated in the fee structure provided by the institute, a reasonable amount is to be considered based on the living expenses of the country. The mess charges/living expenses will be allowed within the overall sanctioned limit.

Quantum	Collateral coverage	ROI
Up to Rs.40.00 lakh	without collateral	EBLR+0.50%
Up Rs.150.00 Lakh	50% up to <100% collateral	EBLR+0.25%
Up Rs.150.00 Lakh	100% and above collateral	EBLR

Note:

EBLR prevailing on the date of disbursement (whether partial or full) shall be applicable.
The External Benchmark shall be reset at least once in three months or any other frequency as prescribed by Bank / RBI.
The spread will remain fixed for 3 years for the borrower. The first reset will be 3 years from the date of sanction and subsequent resets will be every 3 years from the last reset date.
The premium component will remain fixed till maturity of the loan.
No further concession for servicing interest during course & moratorium period.
Servicing of interest during course & moratorium period is optional.

Processing charge/fee to be recovered upfront as mentioned above will not be refunded in any case even if students’ avail/not avail the loan
The processing charge to be collected upfront before issuing sanction letter to the applicant / co-applicant
The amount collected as processing charge to be credited to Income- Account processing charge recovered and transaction details to be admitted in branch copy of sanction letter

Up to Rs. 40.00 Lakh	Rs.10000.00 + applicable GST
Loan amount above Rs.40.00 Lakh:	Rs.20000.00+ applicable GST

Wherever property is being mortgaged as security for educational loan, the borrower has to bear the professional fee charged by bank’s advocate for title deed verification and professional fee payable to bank’s approved valuer for valuation of the property proposed to be mortgaged.
The above charges will not be part of loan amount and has to be paid by the borrower as and when incurred.

180 months /15 years (After moratorium period)

Course period + 1 year

Either of the parents or spouse to be made co-applicant / guarantor
Income/means of the co-applicant / guarantor is not to be considered while sanctioning the loan
Minimum CIBIL score or equivalent CIC score of the co-borrower/guarantor shall be 650 & above and -1.

Note: SB accounts of parent is optional

Up to Rs.40.00 lakh for Category ‘A’: No collateral security or third-party guarantee to be taken, irrespective of the income / means of the guarantor.

Up to Rs.150 lakh for Category ‘A’: Tangible collateral security of minimum value of 50% of total loan amount and interest accumulation during the course and moratorium period, acceptable to bank. Interest concession of 0.50% is available if collateral offered is 100% or more.

The property offered as security should be in the name of borrower / co-borrower or other immediate family members or any in the name of 3rd party; can be taken as security, property owner must join in as co-applicant or offer personal guarantee.
Residual age of the property must be more than 5 years of loan tenure.
The security can be in the form of building/Govt. Securities / Public Sector Bonds/ Units of UTI, NSC, KVP, life policy, gold, and bank deposits in the name of the student / parent / guardian/other immediate family members (mother/ brother/sister/ spouse) or any other tangible security acceptable to the bank with suitable margin.
In case of existing loan, other than mortgage loan, the value of the property as per banks approved valuer in excess of 150% of the loan outstanding (in the existing loan) can be considered towards collateral coverage of education loan.
In case of mortgage loan, the existing guidelines of 200% to continue.
In case the loan is given for creation of assets, e.g., purchase of computer / laptop the same is to be hypothecated to the bank.

Note: SB accounts of parent is optional

Term life insurance policy to be obtained & assigned in favour of the bank.
The policy should be in the name of student, for an amount not less than the loan amount and for the tenure covering course, moratorium and repayment period
The premium of insurance can be included in the loan amount, if requested by the student

Loan applications will be received directly at domicile Branch i.e., at RLP/Branch nearest to permanent place of residence of the parents of the student
For the wards of the Government officials, all India organizations, PSUs and such other jobs, which are transferable, the place of present posting can be considered as place of domicile after obtaining proper KYC documents and details of permanent place of residence
Loan would be disbursed directly to the institute.
NRI students are not covered under the scheme.

** Condition Apply

** Contact our nearest Branch for more details **

Sr. No.	Name of College/ University/ Institute	Country	List of Courses
1.	Harvard University	USA	Medical, Law, Economics & Econometrics, Art, Performing Arts, Design, STEM, Management Courses and Public Policy.
2.	Stanford University	USA	Management Courses, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Medical.
3.	Massachusetts Institute of Technology	USA	STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, Management Courses, and Medical.
4.	University of California Berkeley	USA	Management Courses, Law, Economics & Econometrics, Art, Performing Arts, Design, STEM and Medical Courses.
5.	University of Oxford	UK	Medical Courses, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design Management and All other Courses.
6.	University of Michigan	USA	Management, Law, Economics & Econometrics, Art, Performing, Arts, Design, STEM and Medical Courses
7.	University of Washington	USA	Medical Courses, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
8.	Cornell University	USA	Management, Law, Economics & Econometrics, Art, Performing Arts, Design, STEM and Medical Courses
9.	Columbia University New York	USA	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
10.	Johns Hopkins University	USA	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
11.	University of Pennsylvania	USA	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
12.	University of Cambridge	UK	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, Management and All other Courses.
13.	University of California Los Angeles UCLA	USA	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
14.	Yale University	USA	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
15.	UCL University College London	UK	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
16.	University of Toronto	Canada	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
17.	University of California San Diego	USA	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
18.	University of Minnesota System	USA	Medical, STEM and Management
19.	Pennsylvania State University	USA	Management and STEM
20.	University of Wisconsin Madison	USA	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, Management and Public Affairs.
21.	Duke University	USA	STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, Management, Medical, and Public Affairs.
22.	Northwestern University	USA	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
23.	New York University	USA	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, Management and Public Service.
24.	Tsinghua University	China	Medical and STEM
25.	University of Texas Austin	USA	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
26.	Princeton University	USA	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, Management and Public Affairs.
27.	University of British Columbia	Canada	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
28.	University of North Carolina Chapel Hill	USA	Medical, STEM, Management, Law and Medical
29.	University of Chicago	USA	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, Management and Public Studies
30.	Swiss Federal Institute of Technology Zurich	Switzerland	STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
31.	University of Southern California	USA	Medical, STEM and Management
32.	Peking University	China	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
33.	University of Illinois Urbana Champaign	USA	STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, Management and Medical.
34.	Imperial College London	UK	Medical, STEM and Management
35.	University of Florida	USA	Medical, STEM Management and Law
36.	Ohio State University	USA	Medical, STEM and Management
37.	University of California Davis	USA	Medical, STEM Management and Law
38.	University of California Irvine	USA	Medical, STEM and Management
39.	University of California San Francisco	USA	STEM
40.	University of Melbourne	Australia	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
41.	University of New South Wales	Australia	Medical, STEM, Management and Law
42.	Washington University Saint Louis	USA	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
43.	University of Maryland College Park	USA	STEM and Management
44.	University of Edinburgh	UK	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
45.	Purdue University	USA	STEM, Management and Medical
46.	University of Pittsburgh	USA	Medical, STEM, and Management
47.	National University of Singapore	Singapore	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design and Management.
48.	Michigan State University	USA	STEM and Management
49.	Carnegie Mellon University	USA	STEM, Law, Economics & Econometrics, Art, Performing, Arts, Design and Management.
50.	University of Sydney	Australia	Medical, STEM and Management
51.	Rutgers The State University of New Jersey	USA	STEM and Management
52.	University of Queensland	Australia	Medical, STEM and Management
53.	Texas A&M University	USA	STEM and Management
54.	University of Arizona	USA	Management and STEM
55.	Arizona State University	USA	STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
56.	Boston University	USA	Medical, STEM, Management and Law
57.	Monash University	Australia	Medical, STEM and Management
58.	Vanderbilt University	USA	Medical, STEM and Management
59.	California Institute of Technology Caltech	USA	STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
60.	McGill University	Canada	Medical, STEM and Management
61.	University of Manchester	UK	Medical, STEM and Management
62.	Georgia Institute of Technology	USA	STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
63.	University of Utah	USA	STEM
64.	University of Virginia	USA	Management, STEM, Law and Medical
65.	Utrecht University	Netherland	Medical, STEM and Management
66.	University of Tokyo	Japan	Medical and STEM
67.	King's College London	UK	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
68.	Zhejiang University (National Che Kiang University)	China	STEM
69.	Universidade de São Paulo USP	Brazil	STEM
70.	Shanghai Jiao Tong University	China	STEM and Management
71.	University of Alberta	Canada	Medical, STEM and Management
72.	Emory University	USA	Management, STEM, Law and Medical
73.	University of Amsterdam	Netherland	Medical and STEM
74.	University of Copenhagen	Denmark	Medical
75.	University of Hong Kong	Hong Kong	STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, Management and Medical
76.	University of California Santa Barbara	USA	STEM, Law, Economics & Econometrics, Art, Performing Arts, Design, and Management
77.	North Carolina State University	USA	STEM and Management
78.	Katholieke Universiteit Leuven (KU Leauven)	Belgium	STEM and Medical
79.	Australian National University	Australia	Medical, STEM, Management and Law
80.	Brown University	USA	Medical, Law, Economics & Econometrics, Art, Performing Arts, Design, Management and STEM
81.	Chinese University of Hong Kong	Hong Kong	Medical, STEM and Management
82.	University of Iowa	USA	STEM
83.	Virginia Polytechnic Institute and State University	USA	STEM
84.	University of Groningen	Netherland	Medical, STEM and Management
85.	University of Waterloo	Canada	STEM and Management
86.	Technische Universität München	Germany	STEM
87.	Nanyang Technological University	Singapore	STEM and Management
88.	University of Leeds	UK	STEM and Management
89.	École Polytechnique Fédérale de Lausanne	Switzerland	STEM
90.	Universität Zürich	Switzerland	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design and Management
91.	University of Helsinki	Finland	STEM
92.	University of Calgary	Canada	Medical, Management and STEM
93.	Delft University of Technology TU Delft	Netherland	STEM, Medical, Design, Management
94.	University of Oslo	Norway	STEM
95.	Indiana University Bloomington	USA	STEM and Management
96.	University of Adelaide	Australia	STEM, Management and Medical
97.	University of Massachusetts Amherst	USA	STEM and Management
98.	University of Illinois Chicago	USA	Medical, STEM, Law, Art, Performing Arts, Design and Management
99.	Kyoto University	Japan	Medical and STEM
100.	Ghent University / Universiteit Gent	Belgium	STEM and Medical
101.	Lowa State University	USA	STEM, Management, Law and Medical
102.	University of Nottingham	UK	Medical, STEM, Law, Economics & Econometrics, Art, Performing Arts, Design and Management
103.	Aarhus University / Aarhus Universitet	Denmark	STEM, Management, and Medical
104.	Ruprecht Karls Universität Heidelberg	Germany	STEM, Management, and Medical
105.	Colorado State University	USA	STEM and Management
106.	University of Maryland Baltimore	USA	STEM, Management, Law and Medical.
107.	University of Rochester	USA	STEM and Management
108.	Universitat de Barcelona	Spain	STEM, Law, Economics & Econometrics, Art, Performing Arts, and Management
109.	Università di Bologna (Università degli Studi di Bologna)	Italy	STEM, Law, Design, Economics & Econometrics, Art, Performing Arts, Medical and Management
110.	Tufts University	USA	Medical, STEM and Management
111.	University of Warwick	UK	STEM, Law, Economics & Econometrics, Art, Performing Arts, Medical and Management
112.	City University of New York	USA	Medical, STEM and Management
113.	Bristol University	UK	STEM, Law, Design, Economics & Econometrics, Art, Performing Arts, Medical and Management
114.	Oregon State University	USA	Medical, STEM and Management
115.	University of Western Australia	Australia	STEM, Management and Medical
116.	University of Georgia	USA	STEM, Management & Medical
117.	University of South Florida	USA	STEM, Law, Design, Economics & Econometrics, Art, Performing Arts, Medical and Management
118.	Università degli Studi di Roma La Sapienza	Italy	Medical, STEM and Management
119.	University of Sheffield	UK	STEM, Design, Medical and Management
120.	Lund University / Lunds Universitet	Sweden	STEM, Design, and Management
121.	University of Hawaii System	USA	STEM, Management and Medical
122.	Uppsala University / Uppsala Universitet	Sweden	STEM, Law, Design, Economics & Econometrics, Art, Performing Arts, Medical and Management
123.	University of Miami	USA	STEM, Management and Medical
124.	VU University of Amsterdam / Vrije Universiteit Amsterdam	Netherland	STEM, Management and Medical
125.	University at Buffalo	USA	STEM, Law, Design, Economics & Econometrics, Art, Performing Arts, Medical and Management.
126.	University of Tennessee -Knoxville	USA	STEM, Management and Law
127.	Newcastle University Newcastle upon Tyne	UK	STEM, Management and Medical
128.	Florida State University	USA	STEM, Management and Medical
129.	George Washington University	USA	STEM and Management
130.	Queen Mary University of London	UK	STEM and Management
131.	Case Western Reserve University	USA	STEM, Management and Law
132.	Rice university	USA	STEM and Management
133.	London School of Economics and Political Science	UK	Medical, STEM, Law and Management
134.	Dartmouth college	USA	STEM, Management and Medical
135.	Northeastern University	USA	STEM, Management and Law
136.	Temple University	USA	STEM, Management and Law
137.	Cardiff University	UK	STEM and Management
138.	Deakin University	Australia	STEM and Management
139.	George Mason University	USA	STEM and Management
140.	Macquarie University	Australia	STEM and Management
141.	RMIT University	Australia	STEM and Management
142.	Simon Fraser University	Canada	STEM and Management
143.	Queen's university - Kingston	Canada	STEM and Management
144.	University of Montreal	Canada	STEM and Management
145.	York University	Canada	STEM and Management
146.	Freie Universität Berlin	Germany	STEM
147.	KIT, Karlsruher Institut für Technologie	Germany	STEM
148.	Humboldt-Universität zu Berlin	Germany	STEM
149.	Ludwig-Maximilians – Universität München	Germany	STEM
150.	University of Ottawa	Canada	STEM and Management
151.	Georgia State University	USA	STEM and Management
152.	IMD Business School, Lausanne	Switzerland	Management
153.	IE Business School, Madrid	Spain	Management
154.	London Business School, London	UK	Management
155.	City Univ- Cass Business School, London	UK	Management
156.	INSEAD Business School France/ Singapore	France	Management
157.	Rotterdam School of Management	Netherlands	Management
158.	SDA Bocconi School of Management, Milan	Italy	Management
159.	IESE Business School, Barcelona	Spain	Management
160.	Warwick Business School (University of Warwick)	UK	Management

List of Premier Institutes – For Management Course
List of Premier Institutes – For STEM Course
(STEM- Science, Technology, Engineering and Mathematics)
List of Premier Institutes – Medicals Courses
List of Premier Institutes – For other Education

(Law, Economics, Art, Performing Arts, Design)

The student should be an Indian National and Secured admission in full time Post Graduate Courses in the Premium University Abroad through entrance examinations conducted by recognized universities / institutions or should have secured admission through any other approved authorities.

Tuition fee payable to college/ school/ university.
Hostel / mess charges.
Examination/ Library/ Laboratory fee.
Insurance premium for the student borrower.
Caution deposit, building fund/ refundable deposit supported by.
Travel expenses /passage money for studies abroad.
Purchase of books/ equipment’s/ instruments/ uniforms.
Purchase of computer/laptop at reasonable cost, if required for.
Any other expense required to complete the course - like study.
In case of University/institute in Germany, wherein these institutions/universities do not charge any tuition fee for their course. The expenses such as cost of books, hostel & mess charges, etc. can be funded subject to a minimum margin of 30% of such expenses (irrespective of the loan amount).

Note:

Reasonable lodging and boarding charges will be considered in case the student chooses/is required to opt for outside accommodation.
These expenses can be considered subject to the condition that the amount does not exceed 10% of the total tuition fees for the entire course.
It is likely that expenditure under Para 2.7, 2.8 & 2.9 above may not be available in the schedule of fees and charges prescribed by the college authorities. Therefore, a realistic assessment may be made of the requirement under these heads. However, the maximum expenses included under Para 2.7, 2.8 ∧ 2.9 is to be capped at 20% of the total tuition fees payable for completion of the course

Minimum :	Rs.7.50 Lakhs
Maximum :	Rs.150.00 Lakhs

The courses eligible for loan in top premier institutes is enclosed in Annexure -I.

Above Rs.7.50 lakh to Rs.30.00 lakh: 15%

Above Rs.30.00 lakh to 150.00 lakh: -

If minimum 100% collateral security is offered by the borrower margin shall be NIL and Rs.10,000/- to be collected as processing charges.
In all other cases 15% margin and minimum 50% collateral security shall be obtained from borrower.

Note:

Collateral coverage of the loan will be decided on principal loan amount and interest accumulation during course and moratorium period.
Any scholarship received by the student is to be treated as margin and borrower has to deposit the scholarship amount in the bank account.

If the student has paid the first term fee for securing the admission in the colleges/ universities and approaches us for loan along with reimbursement of the fee paid, then the same is permitted within 6 months of securing admission; on production of original receipt / proof of payment.
If the borrower temporarily arranges for the funds to pay the term fee during the sanction process, then the same can be reimbursed to the student, upon request and production of original receipt / proof of payment.

In cases where the mess charges/living expenses are not mentioned/indicated in the fee structure provided by the institute, a reasonable amount is to be considered based on the living expenses of the country. The mess charges/living expenses will be allowed within the overall sanctioned limit.

Quantum	Collateral coverage	ROI
Up to Rs.30.00 lakh	without collateral	EBLR+0.75%
Up Rs.150.00 Lakh	50% up to <100% collateral	EBLR+0.50%
Up Rs.150.00 Lakh	100% and above collateral	EBLR

Note:

EBLR prevailing on the date of disbursement (whether partial or full) shall be applicable.
The External Benchmark shall be reset at least once in three months or any other frequency as prescribed by Bank / RBI.
The spread will remain fixed for 3 years for the borrower. The first reset will be 3 years from the date of sanction and subsequent resets will be every 3 years from the last reset date.
The premium component will remain fixed till maturity of the loan.
No further concession for servicing interest during course & moratorium period.
Servicing of interest during course & moratorium period is optional.

Processing charge/fee to be recovered upfront as mentioned above will not be refunded in any case even if students’ avail/not avail the loan
The processing charge to be collected upfront before issuing sanction letter to the applicant / co-applicant
The amount collected as processing charge to be credited to Income- Account processing charge recovered and transaction details to be admitted in branch copy of sanction letter

Up to Rs. 40.00 Lakh	Rs.10000.00 + applicable GST
Loan amount above Rs.40.00 Lakh:	Rs.20000.00+ applicable GST

Wherever property is being mortgaged as security for educational loan, the borrower has to bear the professional fee charged by bank’s advocate for title deed verification and professional fee payable to bank’s approved valuer for valuation of the property proposed to be mortgaged.
The above charges will not be part of loan amount and has to be paid by the borrower as and when incurred.

180 months /15 years (After moratorium period)

Course period + 1 year

Either of the parents or spouse to be made co-applicant / guarantor
Income/means of the co-applicant / guarantor is not to be considered while sanctioning the loan
Minimum CIBIL score or equivalent CIC score of the co-borrower/guarantor shall be 650 & above and -1.

Note: SB accounts of parent is optional

Up to Rs.40.00 lakh for Category ‘A’: No collateral security or third-party guarantee to be taken, irrespective of the income / means of the guarantor.

The property offered as security should be in the name of borrower / co-borrower or other immediate family members or any in the name of 3rd party; can be taken as security, property owner must join in as co-applicant or offer personal guarantee.
Residual age of the property must be more than 5 years of loan tenure.
The security can be in the form of building/Govt. Securities / Public Sector Bonds/ Units of UTI, NSC, KVP, life policy, gold, and bank deposits in the name of the student / parent / guardian/other immediate family members (mother/ brother/sister/ spouse) or any other tangible security acceptable to the bank with suitable margin.
In case of existing loan, other than mortgage loan, the value of the property as per banks approved valuer in excess of 150% of the loan outstanding (in the existing loan) can be considered towards collateral coverage of education loan.
In case of mortgage loan, the existing guidelines of 200% to continue.
In case the loan is given for creation of assets, e.g., purchase of computer / laptop the same is to be hypothecated to the bank.

Note: SB accounts of parent is optional

Term life insurance policy to be obtained & assigned in favour of the bank.
The policy should be in the name of student, for an amount not less than the loan amount and for the tenure covering course, moratorium and repayment period
The premium of insurance can be included in the loan amount, if requested by the student

Loan applications will be received directly at domicile Branch i.e., at RLP/Branch nearest to permanent place of residence of the parents of the student
For the wards of the Government officials, all India organizations, PSUs and such other jobs, which are transferable, the place of present posting can be considered as place of domicile after obtaining proper KYC documents and details of permanent place of residence
Loan would be disbursed directly to the institute.
NRI students are not covered under the scheme.

** Condition Apply

** Contact our nearest Branch for more details **

Sr. No.	Name of College/ University/ Institute	Country	List of Courses
1	University of Colorado Boulder	USA	STEM, MANAGEMENT, LAW
2	City University of Hong Kong	Hong Kong	STEM, MANAGEMENT, MEDICAL
3	University degli Studi di Milano	Italy	STEM, MANAGEMENT
4	University of Glasgow	UK	STEM, LAW, MEDICAL
5	University of Nebraska Lincoln	USA	STEM, MANAGEMENT, LAW
6	University degli Studi di Padova	Italy	STEM
7	University of Exeter	UK	STEM, MANAGEMENT, MEDICAL, LAW
8	McMaster University	Canada	STEM, MANAGEMENT
9	University de Geneve	Switzerland	STEM, MANAGEMENT, ECONOMICS
10	University of Connecticut	USA	STEM, MEDICAL, ECONOMICS
11	University degli Studi di Napoli Federico II	Italy	STEM, MEDICAL, ECONOMICS,
12	Karolinska Institute	Sweden	STEM, MANAGEMENT, MEDICAL
13	Wageningen University & Research Centre	Netherlands	STEM, MANAGEMENT
14	Georgetown University	USA	MANAGEMENT, STEM
15	University of Kentucky	USA	STEM, MANAGEMENT,
16	Hong Kong Polytechnic University	Hong Kong	MANAGEMENT, STEM
17	University Hamburg	Germany	MANAGEMENT, LAW, STEM
18	University of Auckland	New Zealand	MANAGEMENT, STEM, MEDICAL
19	University of Technology Sydney	Australia	STEM, MANAGEMENT, LAW
20	University of California Santa Cruz	USA	MANAGEMENT, STEM
21	University of California Riverside	USA	STEM, MANAGEMENT
22	University Bern	Switzerland	MANAGEMENT, STEM
23	Universidad Complutense de Madrid	Spain	STEM, MEDICAL
24	University of Kansas	USA	STEM, MANAGEMENT, LAW
25	Western University	Canada	MANAGEMENT, LAW, STEM
26	M D Anderson Cancer Center University of Texas	USA	STEM, MEDICAL
27	Washington State University Pullman	USA	STEM, LAW
28	University of Cincinnati	USA	MANAGEMENT, LAW, MEDICAL
29	University of Alabama Birmingham	USA	STEM, MANAGEMENT, LAW
30	Rheinisch Westfalische Technische Hochschule Aachen	Germany	STEM, MANAGEMENT, ECONOMICS
31	Technische University Dresden	Germany	MANAGEMENT, STEM, LAW
32	University of Delaware	USA	MANAGEMENT, STEM
33	KTH Royal Institute of Technology	Sweden	MANAGEMENT, STEM, MEDICAL
34	Eindhoven University of Technology	Netherlands	STEM, MANAGEMENT
35	University of Notre Dame	USA	STEM, MANAGEMENT
36	University de València	Spain	STEM, MEDICAL
37	University of Houston	USA	STEM, MEDICAL, MANAGEMENT
38	Rheinische Friedrich Wilhelms University Bonn	Germany	STEM, MANAGEMENT, LAW
39	University of Missouri Columbia	USA	STEM, MANAGEMENT, MEDICAL
40	University of Gothenburg	Sweden	STEM, MANAGEMENT
41	University of Liverpool	UK	STEM, MEDICAL, LAW
42	University Autònoma de Barcelona	Spain	STEM, MEDICAL
43	University of New Mexico	USA	STEM
44	Stony Brook University	USA	STEM, MANAGEMENT
45	Sorbonne University	France	STEM, MEDICAL
46	University di Pisa	Italy	STEM, MANAGEMENT
47	Trinity College Dublin University of Dublin	Ireland	STEM, LAW, MANAGEMENT
48	University degli Studi di Torino	Spain	STEM
49	Virginia Commonwealth University	USA	STEM, MEDICAL
50	University Paris Saclay	France	STEM
51	Stockholm University	Sweden	STEM, ECONOMICS, LAW
52	Curtin University of Technology	Australia	STEM
53	Queensland University of Technology	Australia	STEM, MEDICAL, LAW, MANAGEMENT
54	University of Central Florida	USA	MANAGEMENT, STEM, MEDICAL
55	Erasmus University of Rotterdam	Netherlands	MANAGEMENT, LAW
56	Universidad de Granada	Spain	STEM, MANAGEMENT, MEDICAL
57	Politecnico di Milano	Italy	MANAGEMENT
58	University of South Carolina	USA	STEM, MANAGEMENT
59	Baylor College of Medicine	USA	MEDICAL
60	Osaka University	Japan	STEM
61	Tohoku University	Japan	STEM
62	Griffith University	Australia	MANAGEMENT, STEM, LAW and MEDICAL
63	Wageningen University & Research Centre	Netherlands	STEM, MANAGEMENT
64	University of Oregon	USA	STEM
65	Southeast University	USA	MANAGEMENT
66	University Tubingen	Germany	LAW, MEDICAL, ECONOMICS, STEM
67	Dalhousie University	Canada	MEDICAL, LAW, MANAGEMENT, STEM
68	University Freiburg	Germany	MEDICAL, LAW, STEM
69	Linköping University	Sweden	MANAGEMENT
70	University of Oklahoma	USA	MANAGEMENT AND STEM
71	University of Victoria British Columbia	Canada	LAW, STEM, MANAGEMENT
72	University PSL Paris	Paris	STEM, LAW, ECONOMICS, MANAGEMENT
73	University College Dublin	Ireland	STEM, LAW
74	University of Southampton	UK	MANAGEMENT, STEM, LAW, MEDICAL
75	University of Cape Town	South Africa	MANAGEMENT
76	Wayne State University	USA	MANAGEMENT, STEM
77	Universidad Autónoma de Madrid	Spain	MEDICAL
78	Oregon Health & Science University	USA	MEDICAL
79	Università degli Studi di Firenze	Italy	MEDICAL, STEM, LAW, ECONOMICS
80	University of Manitoba	Canada	MANAGEMENT
81	Eindhoven University of Technology	Netherlands	STEM, MANAGEMENT
82	Louisiana State University	US	MANAGEMENT, STEM
83	University Münster	Germany	STEM, ECONOMICS
84	Friedrich Alexander University Erlangen Nürnberg FAU	Germany	STEM
85	University of Twente	Netherlands	STEM, DESIGN
86	University of Wollongong	Australia	STEM, MEDICAL
87	Florida International University	USA	STEM, MEDICAL
88	University of Surrey	UK	STEM, MEDICAL
89	University of Leicester	England	STEM, MANAGEMENT
90	University zu Köln	Germany	STEM, MANAGEMENT, MEDICAL
91	University of Saskatchewan	Canada	STEM, MANAGEMENT
92	University de Lyon I	France	MANAGEMENT, STEM
93	Queen's University Belfast	UK	STEM, MEDICAL, MANAGEMENT
94	Radboud University	Netherlands	STEM, MANAGEMENT
95	University Leipzig	Germany	ECONOMICS, STEM, MANAGEMENT
96	University of Sussex	UK	STEM, MANAGEMENT, LAW, MEDICAL
97	Chalmers University of Technology	Sweden	STEM
98	Lancaster University	UK	STEM, MANAGEMENT, MEDICAL, LAW, DESIGN
99	University Laval	Canada	STEM, MANAGEMENT
100	Clemson University	USA	MANAGEMENT, STEM

List of Premier Institutes – For Management Course
List of Premier Institutes – For STEM Course
(STEM- Science, Technology, Engineering and Mathematics)
List of Premier Institutes – Medicals Courses
List of Premier Institutes – For other Education

(Law, Economics, Art, Performing Arts, Design)

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Special Union Education Scheme For ISB

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Special Union Education Loan Scheme for Premier Medical Institutes - Union Medicos

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Special Scheme for students of Premier Management & Technical Institutes Inland- TIER I

Are you looking for financial assistance to cover your tuition fees, cost of books, caution deposit, living expenses, and other education-related expenses? Union Bank of India is offering education loans up to Rs. 40 lahks without any collateral security or third-party guarantee. This loan can cover various expenses, including the purchase of a desktop/laptop, insurance premium, and admission acceptance fee. Read on to know more about the eligibility criteria, documents required, benefits, and features of this education loan.

Feature

Details

Eligibility

Students who secure admission in full time courses in the following institutes for the academic year 2024-25

Category ‘A’ Institutes

ROI @8.10%(EBLR-1.15%) for IITs under Category ‘A’ Institutes:

SN	Institute	Course
1	Indian Institute of Technology (IIT) Madras, Delhi, Mumbai, Kanpur, Kharagpur, Roorkee, Guwahati, Varanasi (BHU)	Bachelor of Technology (All Streams)/BE (All Streams) Dual Degree Programmes with B.Tech/BE (All Streams)
2	Indian Institute of Technology (IIT) Hyderabad, Dhanbad (ISM), Indore, Ropar, Mandi, Patna, Jodhpur, Gandhinagar, Goa, Bhubneswar, Palakkad, Jammu, Bhilai, Dharwad, Tirupathi	Bachelor of Technology, Dual Degree Programmes with B Tech. in CIVIL, Mechanical, Electrical, Information Technology, Computer Science, Electronics & Communications streams
3	Indian Institute of Technology, Dhanbad (IIT Dhanbad)	Bachelor of Technology, Dual Degree Programmes with B Tech. in Mining, Mining Machinery Engineering & Petroleum Engineering
4.	IIT Kanpur	B. Sc. (Mathematics & Scientific Computing, Physics, Statics and Data Science, Chemistry, Economics, CCE, ECE)

ROI @8.55%(EBLR-0.70%) for Other Institutes under Category ‘A’ Institutes:
5.	S. P. Jain Institute of Management & Research (SPJIMR), Mumbai	Post Graduate Diploma in Management (PGDM)
6.	Faculty of Management Studies - University of Delhi (FMS), New Delhi	MBA (Full Time)
7.	Narsee Monjee Institute of Management Studies (NMIMS), Mumbai & All other campuses	MBA MBA (Tech.) Integrated Program (B.Tech + MBA)
8.	International Institute of Information Technology, Hyderabad	B. Tech
9.	Institute of Rural Management Anand (IRMA)	Programme in Rural Management
10.	Institute of Management & Technology (IMT), Ghaziabad	Post Graduate Diploma in Management (PGDM)
11.	Birla Institute of Technology & Sciences (BITs) at Pilani, Goa, Dubai & Hyderabad	B Tech/BE
12.	Indian School of business (ISB)	AMPBA, AMPH, AMPI, AMPOS, AMPPP
13.	Xavier Labour Relations Institute (XLRI) Delhi-NCR campus	MBA, PGDM, PGDHRM, PGDBM, PGDM-General Management
14.	Indian Institute of Foreign Trade (IIFT), New Delhi & Kolkata	MBA IB

Category ‘B’ Institutes: Rate of Interest for Category ‘B’ Institutes is @9.25%( i.e.@EBLR):
SN	Institute	Course
1.	Indian Institute of Technology (IITs),	B.Tech/BE courses other than mentioned under category ‘A’ M. Tech.
2.	Birla Institute of Technology & Sciences (BITs) at Pilani, Goa, Dubai & Hyderabad	B Tech/BE. Dual Degree Programmes with B.Tech/BE.
3.	National Institute of Technology (NITs)	B. Tech/ BE/ M. Tech Dual Degree Programmes with B.Tech
4.	Indian Institute of Science (IISc), Bangalore	Master of Technology (M.Tech) Master of Engineering (ME) Master of Design (M.Des)
5.	National Institute of Design (NID), Ahmedabad / Bengaluru / Gandhinagar	Bachelor of Design (B.Des) Master of Design (M.Des)
6.	Indian Institute of Information Technology (IIIT) Allahabad	B.Tech & Dual degree programmes with B.Tech
7.	International Institute of Information Technology (IIIT)Bhubaneshwar/Bengaluru	B Tech. (CSE, EEE, ECE, IT) M Tech (CSE, ECE) Integrated M Tech
8.	Institute of Management & Technology (IMT), Hyderabad/Nagpur	MBA ,PGDM
9.	Department of Management Studies - IIT Delhi, New Delhi	MBA (Full Time)
10.	Jamnalal Bajaj Institute of Managemen Studies (JBIMS), Mumbait	MMS
11.	Shailesh J Mehta School of Management - IIT Bombay, Mumbai	Master of Management
12.	Vinod Gupta School of Management - IIT Kharagpur, Kharagpur	MBA
13.	Industrial and Management Engineering - IIT Kanpur	MBA
14.	Department of Management Studies - IIT Madras, Chennai	MBA (full time)
15.	Tata Institutes of Social Science (TISS) Mumbai	M A in HR Management & Labour Relations.
16.	Welingkar Institutes Management Development & Research Mumbai	PGDM/MMS
17.	Xavier's Institute of Management Bhubaneshwar (XIMB)	MBA – BM (Business Management)
18.	Xavierl of Human Resource Management Bhubaneshwar (XSHRM)	MBA - HR
19.	Mudra Institute of Communication Ahmedabad (MICA)	PGDM - C
20.	Symbiosis Center for Management & Human Resources Development (SCMHRD), Pune	MBA
21.	TA Pai Management Institute (TAPMI) Manipal	PGDM
22.	Great Lakes Institute of Management Chennai and Gurgaon	PGDM/PGPM only
23.	International Management Institute (IMI), Delhi	PGDM/PGDM-BFS/PGDM-HR
24.	S P Jain School of Global Management, Mumbai (Note: to be considered for students taking admission at Mumbai campus even going overseas campus for course study)	MGB (Master in Global Business) & GMBA (Global MBA)
25.	Goa Institute of Management	MBA
26.	Fore School of Management (FSM), New Delhi	PGDM
27.	BITS School of Management (BITSOM), Mumbai	MBA
28.	Institute of Management – NIRMA University, Ahmedabad	MBA
29.	Management Development Institute (MDI), Murshidabad	MBA
30.	Symbiosis Institute of Business Management (SIBM), Pune / Indore	MBA
31.	Xavier School of Rural Management (XSRM), Bhubaneshwar	MBA- RM (Rural Management)
32.	CEPT (Center for Environmental Planning & Technology) University, Ahmedabad	MBA
33.	Delhi Technological University, Delhi	B Tech (CSE/IT/ECE)
34.	Indira Gandhi Delhi Technical University for Women, New Delhi	B Tech CSE
35.	Indian Institute of Engineering, Science & Technology, Shibpur – Howrah	B Tech/B. Arch
36.	Birla Institute of Technology & Sciences (BITs) Ranchi	BE/B.Tech. (CSE, ECE, EEE)
37.	BMS College of Engineering, Bengaluru	BE/ B.Tech(CSE, ECE, EEE, IT)
38.	Harcourt Butler Technical University, Kanpur	B.Tech. (CSE, ECE, EEE, IT)
39.	Manipal Institute of Technology (MIT), Manipal	B.Tech. (CSE, ECE, EEE, IT)
40.	PSG College of Technology / PSG Institute of Advanced Studies Coimbatore	B.Tech. (CSE, ECE, EEE, IT)
41.	RV College of Engineering, Bengaluru	B.Tech. (CSE, ECE, EEE, IT)
42.	Vellore Institute of Technology (VIT), Vellore/Chennai/ Amaravati	B Tech. (CSE, EEE, ECE, IT)
43.	Punjab Engineering College, Chandigarh	B.Tech. (CSE, EEE, ECE, IT)
44.	Thapar University, Patiala	B.E./B.Tech Courses for study in India. International Engineering Program in Collaboration with Trinity College, Dublin, Ireland. International Engineering Program in exchange program with University of New South Wales, Australia University of Queensland, Australia University of Toledo, Ohio United States University of Leeds, UK
45.	Birla Institute of Technology & Science -Pilani	B. Pharma
46.	Institute of Chemical Technology, Mumbai	B. Pharma
47.	Jamia Hamdard, New Delhi	B. Pharma
48.	Symbiosis Law School, Pune	BA LLB, BSWLLB, BSCLLB, BCOM LLB, BBALLB, LLM
49.	National Law University, Delhi	BA LLB, BSWLLB, BSCLLB, BCOM LLB, BBALLB, LLM
50.	National Law University, Bengaluru	BA LLB, BSWLLB, BSCLLB, BCOM LLB, BBALLB, LLM
51.	National Law University, Hyderabad	BA LLB, BSWLLB, BSCLLB, BCOM LLB, BBALLB, LLM
52.	National Law University, Jodhpur	BA LLB, BSWLLB, BSCLLB, BCOM LLB, BBALLB, LLM
53.	Gujrat National Law University, Gandhinagar	BA LLB, BSWLLB, BSCLLB, BCOM LLB, BBALLB, LLM
54.	Government Law College, Mumbai	BA LLB, BSWLLB, BSCLLB, BCOM LLB, BBALLB, LLM
55.	Indian Institute of Corporate Affairs (IICA), Manesar	BA LLB, BSWLLB, BSCLLB, BCOM LLB, BBALLB, LLM and Graduate Insolvency Programme (GIP)
56.	Indra Gandhi Rashtriya URAN Akademi	Commercial Pilot License (CPL) coupled with instrument and Multi engine endorsement along with an option for BSc (Aviation degree)
57.	IIM Rohtak	Five-year integrated Programme in Law (IPL) awarded with integrated degree (BBA+ LLB)
58.	National Institute of Agriculture Extension Management Hyderabad	PGDM-ABM
59.	L N Mittal Institute of Information & Technology (LNMIIT), Jaipur	B Tech (CSE,CCE,ECE)
60.	Symbiosis University Hyderabad	MBA
61.	National Institute of Fashion Technology (NIFTs)	4- years undergraduate course / 2- years post graduate diploma course in areas of Design, Management & Technology

Purpose

To meet tuition fees, cost of books, caution deposit*, hostel charges, mess charges, equipments such as desktop/laptop**, living expenses, insurance premium, expense for student exchange programme, admission acceptance fee etc.

*Student to deposit the money in the loan account immediately on refund from the institute. An undertaking to be obtained from the student in this respect.

**Laptop/desktop cost can be reimbursed to the student if it is purchased for the purpose of study at these institutes

Quantum of Loan

Rs.40 Lakh. (inclusive of Rs. 1.50 lakh for purchase of new two-wheeler)

Margin

Interest Rate

EBLR-0.70% (floating) for Category ‘A’ Institutes
EBLR (floating) for category “B” Institutes

Processing Charge

Repayment Period

180 Months (15 Years)

Moratorium Period

Course period + 1 year

Co-Applicant /Guarantor

Either of the parents or spouse to be made co-applicant / guarantor

Security

No collateral security or third-party guarantee

Insurance

Term life insurance policy to be obtained & assigned in favour of the bank.
The policy should be in the name of student, for an amount not less than the loan amount and for the tenure covering course, moratorium and repayment period

Other Terms & Condition

NRI students are not covered under the scheme

Loans to Student in Subsequent years

The loan can also be granted to the students, who seek a loan in the subsequent years / terms and who have not availed educational loan from other bank / FI for the initial years.
The earlier year fees and desktop/laptop expenses would not be reimbursed.
The loan will include tuition fees, cost of books, hostel charges, mess charges, living expenses, insurance premium etc. for the subsequent years.
If the student is selected for the Student Exchange programme abroad, then the expenses for the same may be included in the loan.
All other terms & conditions will be as per the Union Education scheme for inland studies

S.N.	Feature	Details
1	Institute & Course	Institute	Course
1	Institute & Course	Indian Institute of Management, Ahmedabad (IIM A)	Post Graduate Programme in Management for Executives (PGPX)
2	Eligible Individuals	A bachelor’s degree in any discipline Minimum completed age of 25 years A valid GMAT / GRE score Minimum 4 years of full-time work experience after completion of graduation.
3	Margin	Nil.
4	Quantum of Loan	Maximum up to Rs.35.00 Lakh
5	Interest rate	EBLR + 0.10% (floating) EBLR prevailing on the date of disbursement (whether partial or full) shall be applicable. The External Benchmark shall be reset at least once in three months or any other frequency as prescribed by Bank / RBI. The spread will remain fixed for 3 years for the borrower. The first reset will be 3 years from the date of sanction and subsequent resets will be every 3 years from the last reset date. The premium component will remain fixed till maturity of the loan.
6	Repayment period	Maximum repayment period is 15 years (after completion of the course) or up to 60 years of age of the borrower, whichever is earlier.
7	Moratorium period	Moratorium up to course period only. Repayment to start from the next month of completion of course.
8	Other Terms and Conditions	§ Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank. § All other terms and conditions as per Special Education Loan Scheme for Premier Management & Technical Institutes to be complied with.

S.N.	Feature	Details
1	Institute & Course	Institute	Course
1	Institute & Course	Indian Institute of Management, Kozhikode (IIM K)	MBA Programme for working executives. [Name changed from Executive Post Graduate Programme in Management (EPGP)]
2	Eligible Individuals	Working executives
3	Margin	10% (total cost of the course at present is Rs.14.00 Lakh)
4	Quantum of Loan	Maximum up to Rs. 14.00 Lakh
5	Interest rate	EBLR + 0.75% (floating)
6	Repayment period	Maximum repayment tenure (after course completion) will be 15 years (180 months) or up to 60 years of age of borrower, whichever is earlier.
7	Moratorium period	Moratorium up to course period only. Repayment to start from the next month of completion of course. Interest to be serviced during moratorium as the students will be working professionals and earning income.
8	Other Terms and Conditions	Only working executives are covered under the Scheme. Letter of consent / NOC from Employers to be obtained to pursue the programme. Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank. IT return/salary certificate/employment certificate to be obtained to assess the present earnings. All other terms and conditions as per Special Education Loan Scheme for Premier Management & Technical Institutes to be complied with.

S.N.	Feature	Details
1	Institute & Course	Institute	Course
1	Institute & Course	Indian Institute of Management, Ahmedabad (IIM A)	e-Post Graduate Diploma in Advanced Business Analytics (ePGD-ABA) [Name changed from Post Graduate Programme in Advanced Business Analytics (PGP-ABA)]
2	Eligible Individuals	Students must have undergraduate degree A valid test score (GMAT / GRE / CAT / GATE or the PGP – ABA) qualifying-cum-aptitude test Minimum of 2 years of work experience (preferably in the domain of Business Analytics)
3	Margin	10% (total cost of the course at present is Rs.12.00 Lakh)
4	Quantum of Loan	Maximum up to Rs. 12 Lakh
5	Interest rate	EBLR + 0.25%(floating)
6	Other Terms and Conditions	Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank. All other terms and conditions as per Special Education Loan Scheme for Premier Management & Technical Institutes to be complied with.

S.N.	Feature	Details
		Institute	Course
1.	Institute & Course	Indian Institute of Management, Jammu (IIM JAM)	MBA Programme for working executives
2.	Eligible Individuals	Working Executives
3.	Margin	10% (total cost of the course at present is Rs.9.50 Lakh)
4.	Quantum of Loan	Maximum up to Rs.9.50 Lakhs
5.	Moratorium Period	Moratorium up to course period only. Repayment to start from the next month of completion of course. Interest to be serviced during moratorium as the students will be working professionals and earning income.
6.	Interest rate	EBLR + 0.75% (floating)
7.	Repayment Period	Maximum repayment tenure (after course completion) will be 15 years (180 months) or up to 60 years of age of borrower, whichever is earlier.
8.	Other Terms & Conditions	Only working executives are covered under the scheme. Letter of consent/NOC from Employers to be obtained to pursue the programme. Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank. IT return/salary certificate/employment certificate to be obtained to assess the present earnings. All other terms and conditions as per Special Education Loan Scheme for Premier Management & Technical Institutes to be complied with.

S.N.	Feature	Details
		Institute	Course
1.	Institute & Course	Indian Institute of Management, Indore	Post Graduate Programme in Management for Working Executives (PGPMX)
2.	Eligible Individuals	1. Bachelor’s degree or its equivalent. 2. The percentage of marks obtained at the bachelor’s degree or the preceding degree should be minimum 50 or equivalent CGPA. 3. Completed at least 5 years of full time managerial/professional experience after bachelor’s degree
3.	Margin	Nil
4.	Quantum of Loan	Maximum up to Rs.17.60 Lakh
5.	Moratorium Period	Moratorium up to course period only. Repayment to start from the next month of completion of course. Interest to be serviced during moratorium as the students will be working professionals and earning income.
6.	Interest rate	EBLR + 0.10% (floating)
7.	Repayment Period	Maximum repayment tenure (after course completion) will be 15 years (180 months) or up to 60 years of age of borrower, whichever is earlier.
8.	Other Terms & Conditions	Only working executives are covered under the scheme. Letter of consent/NOC from Employers to be obtained to pursue the programme. Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank. IT return/salary certificate/employment certificate to be obtained to assess the present earnings. All other terms and conditions as per Special Education Loan Scheme for Premier Management & Technical Institutes to be complied with.

S.N.	Feature	Details
		Institute	Course
1.	Institute & Course	Indian Institute of Management, Lucknow (Noida Campus)	Post Graduate Programme in Management for Working Executive (PGPWE)
2.	Eligible Individuals	Graduation/ Bachelor’s degree in any discipline or an equivalent academic pursuit (i.e.10+2+3), with a minimum of 50% marks or equivalent CGPA (Cumulative Grade Point Average). A valid GMAT/ GRE score Minimum 3 years of full-time work experience after completion of graduation
3.	Margin	Nil
4.	Quantum of Loan	Maximum up to Rs.11.00 Lakhs
5.	Moratorium Period	Moratorium up to course period only. Repayment to start from the next month of completion of course. Interest to be serviced during moratorium as the students will be working professionals and earning income.
6.	Interest rate	EBLR + 0.10% (floating)
7.	Repayment Period	Maximum repayment tenure (after course completion) will be 15 years (180 months) or up to 60 years of age of borrower, whichever is earlier.
8.	Other Terms & Conditions	Only working executives are covered under the scheme. Letter of consent/NOC from Employers to be obtained to pursue the program. Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank. IT return/salary certificate/employment certificate to be obtained to assess the present earnings. All other terms and conditions as per Special Education Loan Scheme for Premier Management & Technical Institutes to be complied with.

S.N.	Feature	Details
		Institute	Course
1.	Institute & Course	Indian Institute of Management, Lucknow (Noida Campus)	International Programme in Management for Executives (IPMX) One Year MBA
2.	Eligible Individuals	Executives with Graduation/ Bachelor’s degree in any discipline or an equivalent academic pursuit (i.e.10+2+3), with a minimum of 50% marks or equivalent CGPA (Cumulative Grade Point Average). A valid GMAT/ GRE score Minimum of 5 years full-time post qualification (after graduation) work experience
3.	Margin	Nil
4.	Quantum of Loan	Maximum up to Rs.26.00 Lakhs
5.	Moratorium Period	Moratorium up to course period only. Repayment to start from the next month of completion of course. Interest to be serviced during moratorium as the students will be working professionals and earning income.
6.	Interest rate	EBLR + 0.10% (floating)
7.	Repayment Period	Maximum repayment tenure (after course completion) will be 15 years (180 months) or up to 60 years of age of borrower, whichever is earlier.
8.	Other Terms & Conditions	Only working executives are covered under the scheme. Letter of consent/NOC from Employers to be obtained to pursue the program. Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank. IT return/salary certificate/employment certificate to be obtained to assess the present earnings. NRI students are not covered under the scheme All other terms and conditions as per Special Education Loan Scheme for Premier Management & Technical Institutes to be complied with.

S.N.	Feature	Details
		Institute	Course
1.	Institute & Course	Indian Institute of Management, Bangalore	Executive Post Graduate Programme in Management (EPGP)
2.	Eligible Individuals	Graduation/ Bachelor’s degree in any discipline or an equivalent academic pursuit (i.e.10+2+3), with a minimum of 50% marks or equivalent CGPA (Cumulative Grade Point Average). A valid GMAT/ GRE score Minimum 5 years of full-time work experience after completion of graduation
3.	Margin	Nil
4.	Quantum of Loan	Maximum up to Rs.31.00 Lakhs
5.	Moratorium Period	Moratorium up to course period only. Repayment to start from the next month of completion of course. Interest to be serviced during moratorium as the students will be working professionals and earning income.
6.	Interest rate	EBLR + 0.10% (floating)
7.	Repayment Period	Maximum repayment tenure (after course completion) will be 15 years (180 months) or up to 60 years of age of borrower, whichever is earlier.
8.	Other Terms & Conditions	Only working executives are covered under the scheme. Letter of consent/NOC from Employers to be obtained to pursue the program. Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank. IT return/salary certificate/employment certificate to be obtained to assess the present earnings. All other terms and conditions as per Special Education Loan Scheme for Premier Management & Technical Institutes to be complied with.

S.N.	Feature	Details
		Institute	Course
1.	Institute & Course	Indian Institute of Management, Calcutta	Master of Business Administration for Executives (MBAEx)
2.	Eligible Individuals	Graduation/ Bachelor’s degree in any discipline or an equivalent academic pursuit (i.e.10+2+3) A valid GMAT/ GRE score Minimum 5 years of full-time work experience after completion of graduation
3.	Margin	Nil
4.	Quantum of Loan	Maximum up to Rs.31.00 Lakhs
5.	Moratorium Period	Moratorium up to course period only. Repayment to start from the next month of completion of course. Interest to be serviced during moratorium as the students will be working professionals and earning income.
6.	Interest rate	EBLR + 0.10% (floating)
7.	Repayment Period	Maximum repayment tenure (after course completion) will be 15 years (180 months) or up to 60 years of age of borrower, whichever is earlier.
8.	Other Terms & Conditions	Only working executives are covered under the scheme. Letter of consent/NOC from Employers to be obtained to pursue the program. Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank. IT return/salary certificate/employment certificate to be obtained to assess the present earnings. All other terms and conditions as per Special Education Loan Scheme for Premier Management & Technical Institutes to be complied with.

S.N.	Feature	Details
		Institute	Course
1.	Institute & Course	Indian Institute of Management, Raipur	Executive Post Graduate Programme in Management (ePGP)
2.	Eligible Individuals	Working Executives
3.	Margin	10% (Total cost of the course is 13.25 lakh i.e. Total Programme Fee Rs. 10.75 lakh & Laptop/Video Conferencing Peripherals/study material other than online Library- Rs 2.50 lakh)
4.	Quantum of Loan	Maximum up to Rs.13.25 lakh
5.	Moratorium Period	Moratorium up to course period only. Repayment to start from the next month of completion of course. Interest to be serviced during moratorium as the students will be working professionals and earning income.
6.	Interest rate	EBLR + 0.75% (floating)
7.	Repayment Period	Maximum repayment tenure (after course completion) will be 15 years (180 months) or up to 60 years of age of borrower, whichever is earlier.
8.	Other Terms & Conditions	Only working executives are covered under the scheme. Letter of consent/NOC from Employers to be obtained to pursue the programme. Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank. IT return/salary certificate/employment certificate to be obtained to assess the present earnings. All other terms and conditions as per Special Education Loan Scheme for Premier Management & Technical Institutes to be complied with.

S.N.	Feature	Details
		Institute	Course
1.	Institute & Course	Indian Institute of Management, Shillong	Post Graduate Programme for Executives (PGPEx)
2.	Eligible Individuals	Graduation/ Bachelor’s degree in any discipline or an equivalent academic pursuit (i.e.10+2+3) A valid GMAT/ CAT score Minimum 5 years of full-time work experience after completion of graduation
3.	Margin	Nil
4.	Quantum of Loan	Maximum up to Rs.23.00 Lakhs
5.	Moratorium Period	Moratorium up to course period only. Repayment to start from the next month of completion of course. Interest to be serviced during moratorium as the students will be working professionals and earning income.
6.	Interest rate	EBLR + 0.10% (floating)
7.	Repayment Period	Maximum repayment tenure (after course completion) will be 15 years (180 months) or up to 60 years of age of borrower, whichever is earlier.
8.	Other Terms & Conditions	Only working executives are covered under the scheme. Letter of consent/NOC from Employers to be obtained to pursue the program. Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank. IT return/salary certificate/employment certificate to be obtained to assess the present earnings. All other terms and conditions as per Special Education Loan Scheme for Premier Management & Technical Institutes to be complied with.

S.N.	Feature	Details
		Institute	Course
1.	Institute & Course	S. P Jain Institute of Management & Research (SPJIMR), Mumbai	Post Graduate Programme in Management (PGPM)
2.	Eligible Individuals	Working Executives
3.	Margin	10% (Total cost of the course at present is Rs.19.90 Lakh excluding living expenses, books, laptop etc.)
4.	Quantum of Loan	Maximum up to Rs.20.00Lakh
5.	Moratorium Period	Moratorium up to course period (15 months) only. Repayment to start from the next month of completion of course. Interest to be serviced during moratorium as the students will be working professionals and earning income.
6.	Interest rate	EBLR + 0.75% (floating)
7.	Repayment Period	Maximum repayment tenure (after course completion) will be 15 years (180 months) or up to 60 years of age of borrower, whichever is earlier.
8.	Other Terms & Conditions	Only working executives are covered under the scheme. Letter of consent/NOC from Employers to be obtained to pursue the programme. Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank. IT return/salary certificate/employment certificate to be obtained to assess the present earnings. All other terms and conditions as per Special Education Loan Scheme for Premier Management & Technical Institutes to be complied with.

S.N.	Feature	Details
		Institute	Course
1.	Institute & Course	Thapar University, Patiala	International Engineering Program in exchange program with University of New South Wales, Australia University of Queensland, Australia University of Toledo, Ohio United States University of Leeds, UK
2.	Eligible Individuals	University of Queensland, Australia Students must achieve the required Grade Point Average of 7.0/10.0 for admission to the Bachelor of Engineering (Honors) at the end of 2 years at Thapar Institute of Engineering &Technology. Academic Module IELTS score of 6.5 overall with no individual sub-band score less than 6.0; OR Internet based TOEFL minimum total score of 87 with at least 21 in writing and at least 19 in speaking, listening and reading. University of New South Wales, Australia Students with Successful completion of the first four (4) semesters of approved study at Thapar Institute of Engineering &Technology with a minimum CGPA of 7.30 on a 10-point scale in the courses they studied. Students, who have completed Academic IELTS with a score of 6.5 overall, with no subtests below 6.0, will be eligible to have the University of New South Wales, Australia; English Language Proficiency Requirements waived. Internet-based test (iBT) with an overall minimum score of 90 with a minimum in Writing of 23. University of Toledo, Ohio United States Students must achieve the required Grade Point Average of 7.0/10.0 for admission to the Bachelor of Engineering at the end of 2 years at Thapar Institute of Engineering &Technology. University of Leeds, UK Students who have passed all the elements of Year 1 and 2 of Thapar Institute of Engineering &Technology’s programmes within overall cumulative GPA of 7.0/10.0. An overall score of 70 % in Indian Standard XII and studied in English medium, OR an overall IELTS (Academic) score of 6.0(with no less than 5.5 in all components – reading, listening, writing, and speaking components); AND The relevant test above must have been taken within the relevant validation period; AND in accordance with United Kingdom (UK) immigration regulations that are applicable to student migrants, remain valid at the time of issuance of Confirmation of Acceptance for Studies (CAS) and at time of registration at University of Leeds.
3.	Margin	Nil
4.	Quantum of Loan	Maximum up to Rs.40.00 Lakhs
5.	Moratorium Period	Course Period + 1 year
6.	Interest rate	EBLR
7.	Repayment Period	Maximum repayment tenure will be 15 years (180 months)
8.	Other Terms & Conditions	Life insurance cover equivalent to the loan amount is mandatory, preferably to be done with our channel partners under tie-up arrangement with our Bank. All other terms and conditions as per Special Education Loan Scheme for Premier Management & Technical Institutes to be complied with.

EDUCATION LOAN EMI CALCULATOR

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Special Scheme for students of Premier Management & Technical Institutes (Tier-II)

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Union Education India /Abroad/ NRI Student

Your ambition of studying in an elite Indian and international institute just received the best financial partner with Union Education Loan. Get the best educational finance with less paperwork and a competitive interest rate.

You can avail of Union Education Loan for India and overseas institutes online as well to make your education journey even more convenient and agile. So what are you waiting for? Take the right step towards your right future today.

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Digital Union Education for students of premier institutes-Tier I- Online Application

Embark on your dream educational journey at premier institutes abroad with the support of our specialized Education Loan program. We understand the significance of quality education as it unlocks tremendous career opportunities. Our tailored loan options are designed to make the process of financing your studies abroad a breeze.

Click the link below to explore the seamless application process and discover the ease of obtaining an Education Loan. Whether it's tuition fees, accommodation, travel expenses, or any other educational needs, our comprehensive loan solutions are here to pave the way for your academic success.

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Union Education – Skill Development Loan

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Union Education – Fee Reimbursement

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Union Kisan Shiksha Suvidha

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Education Loan – Subsidies & CGFSEL

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Apply for Education Loan Online

Make your career dreams come true with our Education Loan program.

We understand the importance of quality education and the financial challenges that can come with it. With our user-friendly online application process, obtaining an Education Loan has never been easier. Simply click the link below to embark on a hassle-free journey towards financing your education. Whether you're pursuing a degree, diploma, or professional course, our flexible loan options cater to your individual needs. Empower yourself with the knowledge and skills you desire as we take care of the financial aspect of the same. Take the first step towards a brighter future by clicking the link below and applying for an Education Loan today.

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Educational Loan Interest Rate

1. UNION EDUCATION:

Covered under CGFSEL
Quantum of loan	Reference Rate (D)	Premium		Effective ROI
		For Male Student (E)	For Female Student (F)	For Male Student (D+E)	For Female Student (D+F)
Up to ₹ 7.50 lakh	EBLR	2.00%	2.00%	11.25%	11.25%

Not covered under CGFSEL
Quantum of loan	Reference Rate (D)	Premium		Effective ROI
Quantum of loan	Reference Rate (D)	For Male Student (E)	For Female Student (F)	For Male Student (D+E)	For Female Student (D+F)
Up to ₹ 4.00 lakh	EBLR	3.25%	2.75%	12.50%	12.00%
>₹4.00-₹7.50 lakh	EBLR	3.00%	2.50%	12.25%	11.75%
Above ₹ 7.50 lakh	EBLR	2.10%	1.60%	11.35%	10.85%

2. UNION EDUCATION PREMIER ABROAD:

Quantum of Loan	Rate of Interest	Effective ROI
Upto Rs. 40 Lakh	EBLR + 0.50% (without Collateral)	9.75%
Up to Rs.150.00 Lakh	EBLR+0.25% (50% Up to <100% Collateral)	9.50%
Up to Rs.150.00 Lakh	100% and above collateral @ EBLR	9.25%

3. UNION EDUCATION- SPECIAL SCHEME FOR PREMIER MEDICAL INSTITUTES:

Quantum of Loan	Rate of Interest	Effective ROI
Upto Rs. 40 Lakh	EBLR + 1.00% (without Collateral)	10.25%
Up to Rs.200.00 Lakh	EBLR+0.75% (50% Up to <100% Collateral)	10.00%
Up to Rs.200.00 Lakh	100% and above collateral @ EBLR	9.25%

4. Union Education Scheme: Tier I Premier Management & Technical Institutes for Indian Institutes of Technology (IITs):

Scheme

Rate of Interest

Effective ROI

Tier I Premier Management & Technical Institutes for Indian Institutes of Technology (IITs)

EBLR-1.15%

8.10%

5. UNION EDUCATION LOAN FOR ISB STUDENT:

Course Name	Reference Rate (D)	Premium (E)	Effective ROI (D+E=F)
Post Graduate Programme in Management (PGPM)	EBLR	-1.10%	8.15%
Post Graduate Programme in Management for working Professionals (PGP-PRO) – Upto Rs. 20.00 lakhs	EBLR	-1.10%	8.15%
Post Graduate Programme in Management for working Professionals (PGP-PRO) - Above Rs. 20.00 lakh	EBLR	-0.80%	8.45%
Post Graduate Programme in Management for Senior Executives (PGPMAX) - Upto Rs. 20.00 lakhs	EBLR	-1.10%	8.15%
Post Graduate Programme in Management for Senior Executives (PGPMAX) - Above Rs. 20.00 lakh	EBLR	-0.80%	8.45%

6. UNION EDUCATION-SPECIAL EDUCATION LOAN SCHEME:

Course Name	Reference Rate (D)	Premium (E)	Effective ROI (D+E=F)
Special Scheme for students of Tier-I Premier Management & Technical institutes
Category ‘A’ Institutes	EBLR	-0.70%	8.55%
Category ‘B’ Institutes	EBLR	0.00%	9.25%
Special scheme for students of Tier-II Management & Technical Institutes
For Male Student	EBLR	1.75%	11.00%
For Female/SC/ST/Minority Students	EBLR	1.25%	10.50%

7. UNION EDUCATION – SKILL DEVELOPMENT:

Quantum of loan
	Reference Rate (D)	Premium		Effective ROI
	Reference Rate (D)	For Male Student (E)	For Female Student (F)	For Male Student (D+E=G)	For Female Student (D+F=H)
Skill Development Loan without deviation to be covered under CGFSSD	EBLR	1.50%	1.50%	10.75%	10.75%
Skill Development Loan with deviation if any & not covered under CGFSSD	EBLR	3.25%	2.75%	12.50%	12.00%

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Education Loan EMI Calculator

Imagine this - you're ready to embark on a journey towards your dream career, but you need an education loan to fund your studies. With so many loan options available, it can be overwhelming to figure out how much you'll need to pay each month. That's where an education loan EMI calculator comes in handy. By entering your loan amount, interest rate, and loan tenure, this tool can provide you with an estimate of your installments, total interest payable, and the total amount payable. This can help you plan your finances better and make an informed decision about your education loan. So, whether you're studying in India or abroad, pursuing a degree or vocational training, an education loan EMI calculator can empower your dreams with ease.

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