Author: scholarthi-dev-admin

Established in 1894, Punjab National Bank (PNB) is one of India’s largest public sector banks in terms of assets, deposits, branches, customers, and employees. PNB offers PNB education loan for India as well as Punjab National Bank education loan for study abroad to eligible students who wish to pursue higher education in India or abroad. So, if you are planning to take a Punjab National Bank education loan abroad, the process is very simple, however, it is very important to understand eligibility criteria, documents required and other important information.

Types of Education Loans in Punjab National Bank

The Punjab National Bank education loan is categorized into several schemes that cater to the varied needs of students. Punjab National Bank education loan schemes are as follows:

• 
  PNB Saraswati Education Loan Scheme
• 
  PNB Udaan Education Loan Scheme
• 
  PNB Kaushal Education Loan Scheme
• 
  PNB Pratibha Education Loan Scheme
• 
  PNB Honhaar Education Loan Scheme

For students who are looking for an abroad education loan or for PNB education loan without collateral, the PNB Udaan Scheme offers financing options for their education abroad, with attractive terms and competitive rates. PNB education loan interest rate are low and that is why PNB education loan is one of the most popular education loan for student.

Overview of PNB Udaan Education Loan – For Abroad Studies

If you are planning to study outside India, Punjab National Bank provides education loan under Udaan scheme, where in you can get education loan PNB up to INR 7.5 Lakh without collateral. However, if your Punjab National Bank student loan amount for abroad exceeds INR 7.5 Lakh, collateral is mandatory.

Please note that with Punjab National Bank abroad education loan, applicants can opt for a PNB non-collateral education loan with a co-applicant, who can be a parent or a guardian, and must cosign the loan, which means that they have the responsibility for repayment if the student fails to repay the loan. PNB also provides an education loan without a co-applicant, but this is applicable only for collateral-based loans, where a financial co-applicant is not required. PNB education loan interest rate are also very competitive.

Overview of Various PNB education loan without collateral and Punjab National Bank abroad education loan:

Please note that the terms and conditions, PNB education loan interest rate etc. may vary depending on the bank’s policies etc. To stay updated you can either contact the bank directly or you can contact us and we will share the relevant and updated information with you. You can contact us for PNB education loan online apply.

PNB Education Loans for Study in India

For higher studies in India, PNB offers two education loans, namely PNB Pratibha and PNB Saraswati. Let us understand the various features of these two education loans from PNB for study in India.

• 
  PNB Saraswati: This is the regular education loan scheme from PNB for pursuing higher studies in India.

• 
  PNB Pratibha: This is a collateral-free education loan from PNB at a lower rate of interest. However, this is offered to those students who secure admission in 103 premier institutes of India, as identified by the bank.

Eligibility Criteria for PNB Education Loan for Study in India:

The following are the eligibility criteria for PNB education loans for study in India:

• 
  Student should be Indian national.
• 
  For PNB Saraswati, students should have obtained admission in eligible courses through a merit-based selection process only. Management quotas are considered for meritorious students.

Expenses Covered under PNB Education Loan for Study in India:

Under these schemes, tuition fees, and expenses related to the purchase of books, equipment, computer, travelling, study tours, boarding, and lodging.

Margin Money Requirement for PNB Education Loan for Study in India:

• 
  Up to Rs. 4 Lacs: Nil
• 
  Above Rs. 4 Lacs: 5%

Application Process of PNB Abroad Education

Step 1 – If you are planning to take an education loan from PNB, then first you need to visit the PNB website for PNB education loan form.

Step 2 – Navigate to the loan section and click “Apply”.

Step 3 – You will be taken to the “PNB WeblenS-Online loan application” page.

Step 4 – Click on the “Retail Loan” category.

Step 5 – After that click on the “Education Loan” category.

Step 6 – Now, the loan application will open and you have to fill it out accurately. Submit the application. PNB will verify the details and coordinate with you regarding the next steps.

The PNB education loan without collateral is a very good option for students who want to study abroad. PNB education loan interest rate is also very competitive and with comprehensive coverage of educational expenses, the loan makes overseas education accessible for many.

The PNB student education loan application process is quite simple.

PNB Udaan Education Loan Scheme

The PNB Udaan Scheme offers secured education loans to students planning to pursue higher education abroad. Students can avail of loans up to INR 1 Cr under this scheme. To secure the loan, students must pledge collateral with a value of at least 100% of the loan amount.

Let us understand this with an example, if a student needs a loan of INR 40 Lakh, their collateral value must also be INR 40 Lakh or more. With a competitive PNB education loan interest rate, this loan scheme also covers many academic courses and countries that give considerable financial aid to students.

Overview of the PNB Udaan Education Loan

Let us understand the key features of PNB Udaan education loan by the table below:

*Moratorium period is the time during which you are not required to make any payments for your education loan.

*Margin money means the amount that a borrower has to pay, it is a fraction of the loan amount, while the remaining amount is paid by the bank (or NBFC)

PNB Udaan Education Loan Eligibility Criteria

To secure a PNB student loan, applicants must meet the following criteria:

• 
  Age and citizenship: Minimum 18 years old and an Indian citizen.

• 
  Education qualification: Admission letter from a recognized university/institution in India or abroad.

• 
  Academic excellence: Applicants must have a good academic record and fulfil other exams like GRE, TOEFL, or IELTS if required.

• 
  Co-applicant: For non-collateral loans, a parent or guardian with a stable income and good credit score is mandatory as a co-applicant.

• 
  Course and country of study: PNB supports various courses and countries, including the USA, UK, Canada, Australia, New Zealand, and Europe.

• 
  Collateral: PNB accepts residential property, fixed deposits, and other tangible assets as collateral.

Documents Required for PNB Udaan Education Loan

PNB education loan documents required are as follows. Please note that apart from these documents, several other documents for Punjab National Bank education loan without collateral may be required which will be communicated to you at the time of application.

PNB Education Loan Documents Required for Applicant:

• 
  Identity proof: PAN/Passport/Driver’s License/Voter ID
• 
  Academic records: 10th, 12th mark sheets, degree certificates
• 
  Proof of admission
• 
  Statement of expenses
• 
  Two passport-sized photographs

Co-applicants Documents:

• 
  Identity proof: PAN/Passport/Driver’s License/Voter ID
• 
  Income proof: Salary slips, Form 16, or IT returns
• 
  Bank account statement for the last six months

Collateral Documents (for Secured Loan):

• 
  Property ownership documents
• 
  Approved plan of the property
• 
  Chain of ownership (last 30 years)

How to Contact PNB for Education Loans

You can contact PNB for an abroad education loan or Punjab National Bank education loan without collateral by the following methods:

• 
  Email: Contact customer support at care@pnb.co.in with your queries.

• 
  Online Application: Visit the PNB website to apply for an education loan directly.

• 
  Branch Visit: Visit any of PNB’s 10,000+ branches across India for assistance.

Applying for a Punjab National Bank education loan abroad may be time-consuming, but if you want a hassle-free way with minimal issues due to paperwork, multiple visits to the bank, and other kinds of delays, then we recommend you to apply for your education loan through GyanDhan where we have made the entire process streamlined from the application to approval. One of our education loan counselors will be assigned to your application and will make sure that it gets processed at the earliest. For the Punjab National Bank education loan calculator, you can accurately calculate your loan EMI here.

Benefits of Getting a PNB Education Loan through GyanDhan

• 
  Best loan as per your requirement: With GyanDhan, you do not have to worry about losing out on the best deals, as we are committed to providing you with the best education loan specifically as per your requirements.

• 
  Quick Process: We, at GyanDhan, have dedicated officials who coordinate with PNB bank officials at various posts and departments to secure your education loan approval in just 15-20 days or even less, which otherwise would have taken around 45 days had you gone to PNB branch for direct approval.

• 
  Safe and secured: This is the reason why thousands of students trust us with their education loans every year. officials coordinate with various departments within PNB to secure a loan approval in just 15-20 days. This is why 1000s of students trust us with their loan requests every year. If a student applies directly to the bank, the usual SBI loan processing time is around 30-45 days.

• 
  Doorstep documents pickup service: PNB education loan for abroad, GyanDhan provides doorstep pickup service of documents in Delhi, Mumbai, Pune, Hyderabad, Bengaluru, Chennai & Kolkata.

• 
  Zero Service Charges: GyanDhan’s services are free, as we do not charge any kind of processing fees or commissions from the applicants at all.

• 
  Significantly higher chances of approval: With GyanDhan, the approval chances are considerably higher as we check for any missing documents, property issues, or other issues that can delay or cancel your education loan approval. We approach PNB officials in case of an issue. This ensures speedy resolution and significantly increases your odds of approval. Please be rest assured, that in case of any bottlenecks, GyanDhan will always be by your side!

Opting for a PNB education loan ensures financial backing from a trusted institution. With flexible terms and competitive rates, students can focus on achieving their academic goals without financial worries. For education loan interest rate PNB and other banks, you can visit our website page for complete information.

How to Apply for an Education Loan from PNB through GyanDhan

Applying through GyanDhan is very simple and convenient. All you need to do is check your loan eligibility and we will do the rest. We have expert counselors who analyze your loan application and recommend the best lenders. With GyanDhan’s expertise, it will be very easy to navigate PNB education loans for abroad studies effortlessly. Applying for a Punjab National Bank education loan abroad is very simple and studying abroad becomes a seamless journey, ensuring your dreams are just a loan away. Apply online through Gyandhan now.
For more information on PNB education loan and PNB education loan interest rates, you can visit our website.

Overview of ICICI Bank

Founded in 1994, ICICI Bank is a leading private-sector bank in India. Whatever your reason for higher studies, ICICI Bank understands that higher education is often very expensive, with the rising cost of education. But that shouldn’t stop you!

GyanDhan has partnered with ICICI Bank with an aim to provide financial support for aspiring students, pursuing higher education overseas. ICICI Bank, understands your career aspirations and offers the needed student loans, to successfully aid your journey to higher education. Getting an Education Loan through ICICI Bank is an easy and simple process.

Based on the target university and selected course, ICICI Bank provides both collateral and collateral-free loan of up to Rs.1.5 cr. tax saving on interest paid under section 80(E), flexible tenure and repayment options, and competitive interest rates, these loans help students realize their dream of attaining a world-class education in premier institutions abroad. The ICICI education loan without collateral is based on whether your institute is in Premier university list or not.

Overview and Features of ICICI Education Loan Scheme For Abroad

*ICICI Bank education loan interest rate as of March 2024

Note:If the overall profile of the applicant & co-applicant is good like high CIBIL, academics percentage, and more then a full moratorium can be offered in this case i.e. no repayment during the course and grace period.

ICICI Education Loan Eligibility For Abroad

There are a few eligibility criteria for ICICI Bank that you must fulfill to ensure that you can get approval for your abroad education loan. The eligibility requirements are –

• Must be an Indian citizen.
• The target university or college to which you are admitted must be from the list approved by ICICI Bank.
• The co-applicant must be one of these only – Father, Mother, Brother, Sister, Spouse (Husband/Wife), and Maternal/Paternal Uncle.
• Applicant’s age must be between 16 – 35 years.

Work Experience-Based Education Loan ICICI Bank

Apart from providing normal abroad education loans, there is a unique product that is only provided by ICICI Bank. This product is best for those individuals that have work experience and after working for several years want to go abroad to pursue higher education. A few of the aspects of this experience-based product by ICICI Bank are –

• This is best for those individuals that have a minimum of 3 years or more of professional experience.
• You do not need a co-applicant for this loan product.
• You should have a minimum salary of 35,000 INR but this will differ as per the loan amount required.
• This scheme is only applicable to those universities/colleges that fall in either A1 or A2 category of the approved institute list by ICICI Bank.
• You do not have to pay any amount during your moratorium period although you need to make it as FD as a security. The main benefit of this is that you will get regular interest on the same and you will get the locked amount in FD after the repayment period.

Note:Applicant needs to make a Fixed Deposit (FD) of an amount equivalent to the simple interest to be paid during the moratorium period with the ICICI Bank as security.

Calculate your EMI with ICICI Education Loan Calculator.

Expenses Covered by ICICI Bank Education Loan Scheme

ICICI education loan covers lot of expenses that are required in order to pursue your abroad education. These expenses are –

• Tuition Fees: Costs associated with course fees at the educational institution.
• Accommodation: Expenses for on-campus or off-campus housing.
• Travel Expenses: Costs for travel, particularly for international studies.
• Examination and Library Fees: Charges for exams, library, and laboratory use.
• Purchase of Books and Equipment: Expenses for textbooks, study materials, and equipment like laptops.
• Project Work and Study Tours: Costs for project work, study tours, and related travel.
• Insurance Premium: Premium for student insurance, if applicable.
• Other Education-related Expenses: Any other costs essential for the completion of the course, such as thesis work, additional classes, or seminars.

Documents Required for ICICI Abroad Education Loan

The mandatory documents that you would need to start your process of abroad education loan with ICICI Bank.

• Copy of exam mark sheets of 10th/12th or latest education certificate
• Admission letter with the cost of education if available
• Aadhaar Card and Pan Card of the student and Parent/Guardian
• Passport
• The electricity bill for residence proof
• Relationship proof for your co-applicant
• Most recent salary slips and Form 16 of the co-applicant (if salaried)
• Updated ITR of 2 years or IT assessment order of the last 2 years of the co-applicant (if self-employed)
• Proof of margin money (wherever applicable)

Benefits of Getting your ICICI Education Loan Through GyanDhan

There are some additional benefits that you can get if you pursue your ICICI education loan for abroad studies from GyanDhan. These benefits include:

Guaranteed best loan:

GyanDhan ensures that you receive the most competitive education loan available. Our commitment is to provide you with the best possible deal. If you happen to discover a superior offer, we will compensate for the variance in interest rates throughout the entire duration of your education loan.

Customized document checklist:

There are many documents that are required by ICICI, thus with GyanDhan, you will be getting a customized document checklist that will have all the required documents as per your profile. If there are any alternate document options available the same would also be mentioned in the checklist.

Low turnaround time:

With the help of GyanDhan the loan process can be completed in 5 – 7 days while if you go directly to the ICICI Bank then it might take upto 10 days as per their standard operating procedures.

100% Free of cost assistance:

When you check your eligibility and proceed with your loan with GyanDhan then you will be connected with an education loan expert that will help you throughout the process without any additional cost.

Full moratorium offered:

GyanDhan may help you to get a full moratorium only if the overall profile of the applicant & co-applicant is good like it has high CIBIL, academics percentage, and more.

If you are looking to secure an abroad education loan from ICICI, you can apply online at their website. However, for a hassle-free application process, you can choose to apply for your education loan through GyanDhan.

GyanDhan is an online platform designed to assist Indian students in financing their education abroad. To start your process with us all you need to do is check your loan eligibility and leave the rest to us!

Established in 1993 as UTI Bank, Axis Bank provides education loans to students who want to study in India or abroad. Axis Bank is the third-largest commercial private bank in India. Axis Bank provides both secured and unsecured abroad education loans. In the case of an education loan abroad without collateral, the amount can go up to INR 1 crore, while in the case of a secured education loan, the amount can go up to 85% of the collateral pledged.

Based on the target university, Axis Bank has divided the educational institutions into three categories:

• 
  Prime A: This list contains mostly Master’s programs from top universities.

• 
  Prime B: Besides Master’s programs, it includes a few bachelor’s degrees as well.

• 
  Non-prime: Courses and institutes that do not form a part of the Prime A & B lists are included in this category.

Axis education loan does not just help students to realize the financial requirements of studying abroad but also offers a 100% tax benefit to them on the interest paid under Section 80(E) of the IT Act. Other than these features, as a scheduled commercial bank, government schemes such as Central Government Interest Subsidy Scheme (CSIS) for Economically Weaker sections (income up to INR 4.5 Lakhs) are available at Axis Bank.

Features of Getting an Unsecured Axis Bank Education Loan Abroad

There are many benefits that you are going to enjoy if you pursue your education loan abroad without collateral from Axis Bank. Axis Bank is one of the best options if you do not have collateral to pledge and want to take an unsecured education loan. Axis Bank has approved a list of abroad universities that they have divided based on STEM and non-STEM courses that categorize the universities into prime and non-prime categories. The features presented below differ for each of these categories.

Eligibility for Unsecured Axis Bank education loan abroad

Below are some criteria that you need to ensure so that you can be eligible for taking an Axis Bank study loan

• 
  The applicant and co-applicant have to be Indian citizens.
• 
  Must have secured at least 60% in Higher Secondary and Graduation.
• 
  Co-applicant’s CIBIL score should be more than 700.
• 
  Co-applicant’s salary should be more than INR 35,000 without any obligations i.e. the co-applicant should not have any other EMI going on. Co-applicant must have either 3 years of ITR or 2 years of Form-16.
• 
  Co-applicant needs to be from the immediate family. Accepted Co-applicant include Father, Mother, Brother, Sister, or Spouse.
• 
  Only applicable to master’s courses.
• 
  An admit letter for the approved MS courses from the relevant authorities.
• 
  The university or college should be on the bank’s categorical list of educational institutions.

Documents Required for Unsecured Axis Bank Education Loan Abroad

There are three different times at which you will need some documents. The initial set of documents will be required when the loan application is in process, the second set of documents will be required during the first disbursement, and the last set of documents will be required for the subsequent disbursement.

Documents Required During the Initial Phase of the Loan Process:

For salaried individuals:

• 
  KYC documents
• 
  Bank Statement / Pass Book of last 6 months
• 
  Optional – Guarantor Form
• 
  Copy of admission letter of the Institute along with fees schedule
• 
  Mark sheets / passing certificates of S.S.C. (Secondary School Certificate), H.S.C (Higher Secondary School Certificate), and Degree courses.

For all other Individuals:

• 
  KYC documents
• 
  Bank Statement / Pass Book of last 6 months
• 
  Optional – Guarantor Form
• 
  Copy of admission letter of the Institute along with fees schedule
• 
  Mark sheets / passing certificates of S.S.C. (Secondary School Certificate), H.S.C (Higher Secondary School Certificate), and Degree courses.

Documents Required for the First Disbursement:

• 
  Demand letter from a college or university
• 
  Loan agreement signed by the applicant and co-applicants
• 
  Sanction letter signed by the applicant and co-applicants
• 
  Disbursement request form signed by the applicant and co-applicants
• 
  Receipts of margin money paid to the college/university, along with a bank statement reflecting the transaction
• 
  Documents for collateral security (if applicable)
• 
  Form A2 signed by the applicant or co-applicants in case of an overseas institute

Documents Required for Subsequent Disbursement:

• 
  Demand letter from a college or university
• 
  Disbursement request form signed by the applicant and co-applicants
• 
  Receipts of margin money paid to the college/university, along with a bank statement reflecting the transaction
• 
  Exam progress report, marksheet, bonafide certificate (anyone)
• 
  Form A2 signed by the applicant or co-applicants in case of an overseas institute

Features of Secured Axis Bank Education Loan Abroad

Apart from providing Axis Bank education loan without collateral, it can also provide you with secured loans in case you are ready to pledge some collateral with the bank. In case of collateral as well the co-applicant profile is considered. Different features that are associated with a secured abroad education loan with Axis Bank are –

• 
  If you have pledged a residential property as collateral and your co-applicant is salaried, then you can get up to 85% of the property value.
• 
  If you have pledged a residential property as collateral and your co-applicant is self-employed, then you can get up to 75% of the property value.
• 
  In case you have pledged a commercial property, then you can get up to 50% of the property value.
• 
  You can get Axis education loan interest rate between 9.99% – 10.50% for secured loans.

The main benefit of a secured education loan is that the course and university list are not considered. That is, you can be from any university and course, no matter whether it is listed in the Axis Bank university list or not.

Subsidies on Axis Bank education loan

Under the Central Government Interest Subsidy Scheme offered by Axis Bank, economically disadvantaged students can receive Axis Bank student loans for professional or technical studies at accredited institutions. Key features include:

• 
  Government payment of interest during the moratorium.
• 
  A maximum loan amount of INR 7.5 lakh.
• 
  Subsidy available only once.
• 
  No subsidy if the course is discontinued.

How to Apply for Axis Bank Abroad Education Loan?

The process of starting a loan application with Axis Bank is quite simple. All you need to do is follow the below-mentioned steps.

Check Loan Eligibility:

The first step is to check your loan eligibility with GyanDhan, which will require you to fill out some details like personal details, target university, loan amount, and more.

Loan Processing:

After checking your loan eligibility, an education loan counselor (ELC) from GyanDhan will contact you and provide a personalized document checklist. You’ll need to arrange the documents while the ELC pushes your details to Axis Bank.

Free Doorstep Document Collection:

Once you arrange all documents, an Axis Bank relationship officer (RO) will collect and verify them. Missing documents will be notified by GyanDhan’s ELC and Axis Bank’s RO within 1 day.

Loan Approval and Sanction:

After all the verification is done, a loan approval mail (with loan amount and other details) is sent to the applicant, who needs to sign it so that the same can be sanctioned.

Learn more about Axis Bank education loan disbursement process. 

Benefits of Getting Axis Bank Education Loan Abroad from GyanDhan

There are several benefits that you would get by proceeding with your loan from Axis Bank through GyanDhan. Some of the benefits have been listed below –

Guaranteed Best Loan:

GyanDhan is committed to providing you with the most advantageous education loan available. Our team ensures that we secure the best possible deal for you. If you come across a better offer, we will compensate for the variance in Axis Bank education loan interest rate throughout the entire period of your education loan.

Higher Chances of Approval:

GyanDhan ensures Axis Bank only receives your application after meeting all eligibility requirements.

Customized Document Checklist:

GyanDhan provides a tailored list of required documents, including alternative options which helps in quick document submission.

Low Turnaround Time:

GyanDhan can complete the loan process in 5-7 days (after document submission), compared to Axis Bank’s 15-day procedure if an applicant goes directly to the Bank.

100% Free of Cost Services:

When you proceed with GyanDhan, an education loan counselor will guide you throughout the process, without any added cost.

Established in 1919 as a limited company, the Union Bank of India (UBI) later became a nationalized bank in 1969. The bank provides a range of banking and financial services, including personal banking, corporate banking, international banking, and education loans for studies in India and abroad. In 2020, the Union Bank of India merged with Andhra Bank and Corporation Bank, becoming the fifth-largest public sector bank in India.

Union Bank of India offers both secured and unsecured loans. Union Bank education loans have further divided courses and universities into lists and offer loans according to them.

**Moratorium period is the time duration during which you are not required to make payments toward your education loan.
*Margin money refers to the amount of money that a borrower is required to contribute towards the loan, while the remaining amount is paid by the lender.

Union Bank is the only public bank in India right now that provides education loans without collateral for studying abroad. Union Bank of India is a prominent public sector bank in India that offers education loans without the requirement of collateral for students pursuing studies abroad. This unique offering makes it an attractive option for students who may not have substantial assets to pledge as security, providing them with the opportunity to access quality education globally without financial hurdles.

Key Features of Union Bank Education Loan Without Collateral:

Below are the top features of UBI’s unsecured loan options for students interested in applying for the Union Bank of India education loan abroad.

• 
  Loan Amount: The education loan in Union Bank of India without collateral typically covers tuition fees, examination charges, accommodation, travel expenses, and other related costs up to a certain limit. The maximum loan amount without collateral is up to INR 40 Lakh for overseas education.

• 
  Eligibility Criteria: To avail of the Union Bank of India abroad education loan without collateral, the applicant must meet specific eligibility criteria, such as securing admission to a recognized institution, maintaining a good academic record, and demonstrating the ability to repay the loan.

• 
  Courses Covered: The Union Bank of India education loan abroad without collateral typically supports pre-approved courses, including postgraduate and professional courses in fields like engineering, medicine, management, and more.

• 
  Interest Rates and Repayment: The interest rates for Union Bank of India abroad education loan without collateral are competitive, starting at just 9.5%. The repayment period usually begins after the completion of the course and offers flexible repayment terms, often extending up to 15 years, depending on the loan amount and the course duration.

Note- The Union Bank of India education loan interest rate is subject to change.

Age:

The applicant must be an Indian citizen and at least 18 years of age or older at the time of application.

Education qualification:

To be eligible for an education loan, the applicant must have secured admission to a reputed university or institution for a program that leads to the degree or diploma they have chosen.

Academic performance:

The applicant should have a consistently good academic record and must meet the minimum academic criteria set by the lending institution. Also, the student must fulfill any prerequisite tests such as GRE, IELTS, or TOEFL.

Co-applicant:

The co-applicant could be a parent or a legal guardian, with a regular source of income and good credit history.

Country of study:

Foreign institutes/universities in the USA, UK, Canada, Australia, Singapore, Japan, Hong Kong, New Zealand, and Europe [Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Sweden, Switzerland, United Kingdom] will be covered under the scheme.

Courses:

Under the Union Bank education loan scheme, regular graduate degree/post-graduate degree/diploma/certificate/doctorate courses such as bachelor, master, MCA, MBA, MS, etc, are covered. UBI also offers loans for the following courses:

• 
  Courses conducted by CIMA- London, CPA in the USA.
• 
  Degree or diploma courses like aeronautical, pilot training, and shipping.

Types of Collateral accepted:

Union Bank of India accepts the following resources as collateral –

• 
  Immovable property such as a house, flat, and open plots as collateral if the property is sanctioned by the legal authorities.
• 
  Fixed deposits.

The Union Bank of India education loan interest rate is designed to be competitive, making higher education more accessible for students. Whether you’re pursuing studies in India or abroad, the Union Bank education loan rate of interest offers various schemes to suit different educational needs. From general education loans to specialized programs like the Union Education Loan for ISB Students, Union Bank provides tailored options to ensure that students can focus on their studies without financial stress. If your institution of enrollment falls under the Union Bank of India education loan for abroad university list, then you can lock deals at comparatively lower interest rates. Below is a table detailing the various Union Bank education loan interest rates for different schemes:

The documents required for an education loan from UBI include your academic and professional history, your co-applicant financial and credit profile, and the location of the property or asset that you offer as collateral.

Applicants Documents Required for Union Bank Education Loan Abroad:

• 
  Identity proof: PAN/ Passport/ Driver’s License/ Voter ID card or government-issued identification document.
• 
  Education loan application form.
• 
  Address proof: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill/ driving license/ Aadhaar card.
• 
  Passport.
• 
  Past academic record.
• 
  10th standard mark sheet
• 
  12th standard mark sheet
• 
  Undergraduate result (semester-wise)
• 
  Entrance exam results (e.g. GMAT, GRE, TOEFL, etc.)
• 
  Proof of admission: admission letter (A conditional admission letter is also applicable).
• 
  Statement of expenses.
• 
  2 passport-size photographs.
• 
  Loan A/C statement of one year (if applicable).
• 
  Bank account statement of the student (if applicable).

Co-Applicant’s Documents Required for Union Bank Abroad Education Loan:

• 
  Identity proof: PAN/ Passport/ Driver’s license/ Voter ID card or government-issued identification document.
• 
  Address: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill or copy of passport/ driving license/ Aadhaar card.
• 
  2 passport-size photographs.
• 
  If any previous loan is from other banks/ lenders, then the loan A/C statement of 1 year.
• 
  Legal documents of the collateral/ property documents.
• 
  Bank account statement of the co-applicant/guarantor, for the last 6 months (in case of takeover of education loan).

Income Proof for Salaried Co-Applicant/Guarantor:

• 
  Salary slips for the last 3 months
• 
  Copy of Form 16 of the last 2 years or copy
• 
  Bank account statement for the last 6 months (Salary account)
• 
  Brief statement of assets & liabilities of parent/ guardian/ other co-borrower

Income Proof for Self-Employed Co-Applicant/ Guarantor:

• 
  Business address proof
• 
  Last 2 years IT returns (If IT Payee)
• 
  TDS certificate (Form 16A, if applicable)
• 
  Certificate of qualification (for C.A./ doctor and other professionals)
• 
  Brief statement of assets & liabilities of parent/ guardian/ other co-borrower
• 
  Bank account statement for the last 6 months

The list of documents required for a Union Bank student loan, depends on several factors, primarily: property type, purchase history, and location.

Common documents:

• 
  Registered sale deed
• 
  Approved plan or map of the constructed property.
• 
  Chain documents.
• 
  Latest property tax receipt.
• 
  Occupancy proof.

For assistance regarding an education loan Union Bank of India, you can choose one of the following methods to get in touch with them:

Email:

Send a detailed email to customercare@unionbankofindia.comwith information about your profile. Their team will review your email and respond accordingly.

Online application form:

Visit the UBI website and navigate to the “Contact Us” section. You can fill out the online application form, and Union Bank evaluates your profile and further the process.

Branch visit:

Visit the nearest branch in your city or locality. The staff at the branch will assist with education loans, the application process, required documents, and other relevant information. Union Bank of India has 9727 branches in 34 states/union territories of India.

If you are seeking a Union Bank student loan for studying abroad but want to avoid the hassle of visiting physical branches and dealing with complicated application forms, you have the option to apply for a study abroad loan through GyanDhan, an education financing platform that specializes in helping students secure funding for their higher education abroad. Once you meet the eligibility criteria, our dedicated counselors will thoroughly assess your profile and recommend the most suitable lenders to meet your specific loan requirements. Throughout the loan process, our counselors will provide guidance and support, being readily available to address any concerns or challenges you may encounter. Start your education loan journey with GyanDhan. Check your loan eligibility and take the next step towards your higher education abroad.

Guaranteed best loan:

GyanDhan stands by the promise to offer you the most competitive education loan in the market. We at GyanDhan bring the best deal possible for you. If you find a better offer, we’ll cover the difference in interest rates for the ENTIRE duration of your education loan.

Low turnaround time:

GyanDhan officials coordinate with various departments within UBI to secure a loan approval in just 15-20 days. This is why 1000s of students trust us with their loan requests every year. If a student applies directly to the bank, the usual UBI loan processing time is around 30-45 days.

100% free of cost services:

GyanDhan’s services for applicants are absolutely free. We do not charge any kind of fees or commissions from the applicants at all.

Lender comparison:

The expert education loan counselors at GyanDhan compare the loan products of different lenders to identify the most suitable loan option for your needs. This involves comparing the interest rates, loan amounts, repayment terms, processing fees, and other features of different lenders.

Higher chances of approval:

In case of any missing documents, property issues, or other problems, we approach the UBI officials promptly to find solutions. This ensures speedy resolution and significantly increases your odds of approval. In case of any bottlenecks, GyanDhan will always be by your side!

To secure an education loan from UBI, you can apply online at the UBI website. Once you fill out the application form online, you will have to visit the nearest UBI branch with all your documents. To avoid all these complex steps, you can simply apply for your education loan via GyanDhan, an online platform that helps students in India to finance their education abroad.

Established in 1955, the State Bank of India (SBI) is India’s largest public sector bank in terms of assets, deposits, branches, customers, and employees. The bank offers education loans to eligible students who wish to pursue higher education in India or abroad. Whether you’re exploring an education loan in the State Bank of India or seeking a student loan from SBI, it’s crucial to understand the array of options available to support your academic aspirations.

The State Bank of India education loan is categorized into several schemes that cater to the varied needs of students. State Bank of India education loan schemes are as follows –

• SBI Student Loan Scheme 
• SBI Scholar Loan Scheme 
• SBI Skill Loan Scheme 
• SBI Global Ed- Vantage 
• SBI Takeover of Education Loan Scheme 
• SBI Shaurya Education Loan

For students who are looking for an abroad education loan SBI offers the SBI Global Ed- Vantage scheme wherein students can avail up to INR 3 cr of financing for their education in India or abroad.

The most attractive feature of the SBI education loan without collateral for abroad is that it does not require any security or collateral for loans up to INR 50 Lakhs. This is a significant advantage for students who do not have valuable assets to pledge. The SBI unsecured education loan ensures that the lack of collateral does not become a barrier to achieving your academic dreams.

Earlier SBI education loan without collateral was limited to INR 7.5 Lakh, but in 2024 SBI started collateral-free education loans for up to INR 50 Lakhs. For education loans amounting to more than INR 50 Lakhs, a collateral is must. However, when applicants opt for an SBI non-collateral education loan for abroad, the parents or guardian must co-sign the loan with the student.

As SBI provides education loans without a co-applicant, a financial co-applicant is generally not required. Hence, students looking for an SBI education loan without a co-applicant can opt for collateral-based loans where a financial co-applicant is not required for amounts up to INR 50 Lakhs.

The SBI student loan without collateral application process is quite simple.

Step 1 – Prospective students need to visit the SBI website navigate to the education loan section and click on ‘Apply now’.

Step 2 – Next, fill out the SBI education loan application form.

Step 3 – Upload required documents including proof of admission to an eligible course and institution, alongside other necessary documents such as academic records and proof of identity.

Step 4 – Submit the form and SBI will coordinate with you once they verify your application.

The SBI collateral free education loan is an excellent financial tool for students aspiring to study overseas. With an SBI education loan for abroad without security, competitive interest rates, and comprehensive coverage of educational expenses, this loan makes the dream of studying abroad achievable for many students.

The Global Ed-Vantage education loan scheme offers secured education loans to Indian students who want to pursue higher education abroad. Under this scheme, students can borrow up to INR 3 Cr to fund their education abroad. To secure SBI education loan for abroad students have to pledge collateral that holds at least 90% value of the total loan amount.

Established in 1955, the State Bank of India (SBI) is India’s beacon of trust and reliability in the banking sector, offering a comprehensive SBI abroad education loan to empower students. As India’s largest public sector bank, SBI extends its support to students through its specialized SBI education loan for abroad studies, enabling them to pursue their academic dreams in foreign lands.

For example – If a student wants to secure a loan amount of INR 60 Lakhs, then his collateral value should be at least INR 54 Lakh.

SBI’s Global Ed-Vantage scheme is a tailored SBI student loan for study abroad, designed to support Indian students aspiring to study overseas. This abroad SBI student loan facilitates higher education across various countries, offering loans up to INR 3 Cr. It’s a perfect choice for students seeking a SBI study loan for abroad, ensuring their educational journey is well-funded. The education loan SBI provides is more than just financial assistance; it’s a gateway to achieving your education dreams without the burden of financial constraints.

Please note, under this scheme, collateral security offered by a third party (other than parents) can also be accepted.

For students plotting their academic future abroad, understanding the nuances of the SBI education loan for abroad studies is crucial. From processing fees to margin money, each aspect of this SBI abroad education loan is crafted to ease the financial burden, making your study abroad experience seamless.

*Moratorium period is the time duration during which you are not required to make payments toward your education loan.

*Margin money refers to the amount of money that a borrower is required to contribute towards the loan, while the remaining amount is paid by the lender.

Securing a SBI student loan for study abroad is streamlined with GyanDhan’s assistance. Whether you’re eyeing universities in the USA, Australia, or Europe, the SBI study loan for abroad is your financial ally, ensuring your focus remains on education, not expenses. Below is the SBI education loan eligibility is as follows –

• Age: The applicant must be an Indian citizen and at least 18 years of age or older at the time of application.
• Education qualification: The applicant should have secured admission to a recognized university or institution for a course/program that leads to the chosen degree/diploma.
• Academic performance: The applicant should have a consistently good academic record and must meet the minimum academic criteria set by the lending institution. Also, the student must fulfill any prerequisite tests such as GRE, IELTS, or TOEFL.
• Co-applicant: The applicant must have a co-applicant, who could be a parent or a legal guardian, with a regular source of income and a good credit history.
• Courses Accepted: Education loan from SBI is provided to regular graduate degree/post-graduate degree/diploma/certificate/doctorate courses in any discipline offered by foreign Institutes/Universities are covered. Pathway courses leading to the main course are sometimes included under the total expenses, which can be financed as a part of the total expenses. In the case of pilot training courses, the courses need to have the approval of the country-specific aviation regulatory authority.
• Country of study: Education loan from SBI offers financial assistance for the USA, UK, Canada, Australia, Singapore, Japan, Hong Kong, New Zealand, and Europe [Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden, Switzerland, United Kingdom].  
• Collateral: SBI accepts the following assets as collateral:

• 
  Residential property, buildings
• 
  Fixed deposits

Students now have greater access to higher education because to the attractive interest rates that the State Bank of India (SBI) offers on its student loan programs. An SBI education loan has a current interest rate of 9.65% (variable). Furthermore, the following concessions are offered to lower the cost of the loans:

• Female students are eligible for a 0.5% interest rate discount.
• Students who choose to purchase an existing life insurance policy or the SBI Rinn Raksha policy will receive an additional 0.5% discount.

Rinn Raksha is a mandatory insurance scheme offered by the State Bank of India student loan for its education loan borrowers. This insurance scheme protects the borrower’s family in the unfortunate event of the borrower’s untimely demise during the repayment tenure of the loan.

Under the “Rinn Raksha” scheme, SBI offers two types of insurance coverage options to education loan borrowers: Group Credit Life Insurance (GCLI) and Term Life Insurance (TLI). The GCLI provides coverage against the outstanding loan amount in case of the borrower’s demise, while the TLI provides coverage against the total sum assured.

When it comes to financing your higher education, State Bank of India student loan offerings are diverse and cater to the unique needs of students. The education loan SBI provides is designed to offer competitive rates and terms that help ease the financial burden of studying abroad. Whether you’re seeking a SBI bank student loan, you will find that SBI’s commitment to supporting education shines through in their loan products.

The most attractive feature of the SBI education loan without collateral for abroad is that it does not require any security or collateral for loans up to INR 50 Lakh. This is a significant advantage for students who do not have valuable assets to pledge. The SBI unsecured education loan ensures that the lack of collateral does not become a barrier to achieving your academic dreams.

For education loans amounting to more than INR 50 Lakh, a collateral is must. However, when applicants opt for an SBI non collateral education loan for abroad, the parents or guardian must co-sign the loan with the student.

As SBI provides education loans without a co applicant, a financial co-applicant is generally not required. Hence, students looking for SBI education loan without co applicant can opt for collateral-based loans where a financial co-applicant is not required.

The documents required for an SBI education loan for abroad depend on several factors, primarily your academic and professional history, your co-applicant’s financial and credit profile, and the location of the property or asset, which you offer as collateral.

Applicants’ Documents Required for Student Loan SBI:

• Identity proof: PAN/ Passport/ Driver’s License/ Voter ID card or government-issued identification document.
• Education loan application form.
• Address proof: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill/ driving license/ Aadhaar card.
• Passport 
• Past academic record.

• 
  10th standard mark sheet
• 
  12th standard mark sheet
• 
  Undergraduate result (semester-wise)

• Entrance exam results (e.g. GMAT, GRE, TOEFL, etc.)
• Proof of admission: admission letter (A conditional admission letter is also applicable).
• Statement of expenses.
• 2 passport-size photographs.
• Loan A/C statement of one year (if applicable)
• Bank account statement of the student (if applicable)

Co-applicant’s Documents Required for Student Loan SBI:

• Identity proof: PAN/ Passport/ Driver’s license/ Voter ID card or government-issued identification document.
• Address: recent copy of telephone bill/ electricity bill/water bill/ piped gas bill or copy of passport/ driving license/ Aadhaar card.
• 2 passport-size photographs.
• If any previous loan is from other banks/ lenders, then the loan A/C statement of 1 year.
• Legal documents of the collateral/ property documents.
• Bank account statement of the co-borrower/guarantor, for the last 6 months (in case of takeover of education loan).

Income proof for salaried co-applicant/guarantor:

• Salary slips for the last 3 months.
• Copy of form 16 of the last 2 years or copy.
• Bank account statement for the last 6 months (Salary account).
• Brief statement of assets & liabilities of parent/ guardian/ other co-borrower.

Income proof for self-employed co-applicant/ guarantor:

• Business address proof.
• Last 2 years IT returns ( If IT Payee).
• TDS certificate (Form 16A, if applicable).
• Certificate of qualification (for C.A./ doctor and other professionals).
• Brief statement of assets & liabilities of parent/ guardian/ other co-borrower
• Bank account statement for the last 6 months.

The list of documents required for collateral study loan SBI depends on several factors, primarily: property type, purchase history, and location. Broadly, the following documents are required:

Common documents:

• Registered sale deed.
• Approved plan or map of the constructed property.
• Chain documents, evidencing the ownership history of the property for the last 30 years.
• Latest property tax receipt.
• Occupancy proof.

Additional documents if you’re applying for a study loan SBI with a property in the following cities:

Mumbai or Pune:

• NA order
• Urban land ceiling order
• NOC from a builder or society
• Share certificate
• Letter of allotment
• Conveyance deed of society
• If CIDCO / MHADA property: NOC and transfer letter

Hyderabad:

• Urban land ceiling certificate
• NA certificate, if not included in the sale deed
• 7/12 extract, if not included in the sale deed
• Encumbrance certificate

Bengaluru:

• RTC (Record of tenancy certificate)
• Conversion order (from agriculture to residential)
• Khata certificate ( A or B )
• Property tax receipt
• Encumbrance certificate

To contact SBI for an abroad education loan, you can choose the following methods –

• Email – You can get in touch with SBI over email. Send an email to SBI’s customer support team at gm.customer@sbi.co.in. Mention relevant details about your profile, and they will provide a response tailored to your needs.
• Online application form – You can complete an online application form at the SBI website (https://sbi.co.in/web/personal-banking/home). Later, SBI will evaluate your profile and proceed with the necessary steps.
• Branch visits – For a more personal approach, you have the option to visit the nearest SBI branch in your city or locality. The State Bank of India operates a vast network of 28,802 branches across all 36 states and union territories in India.

Opting for an SBI student loan means you’re backed by one of India’s most trusted financial institutions. The SBI study loan is not just a financial transaction; it’s a stepping stone to your future, offering flexible repayment options and comprehensive coverage of education-related expenses.

If you prefer a more convenient approach and want to avoid the hassle of physically visiting branches and dealing with complex application forms, you can apply for an education loan through GyanDhan, an education financing platform that specializes in assisting students in securing funds for their higher education abroad. Our dedicated counselors will carefully evaluate your profile and recommend the most suitable lenders for your specific loan requirements.

To secure an education loan in SBI, you can apply online at the SBI website. Once you fill out the application form online, you will have to visit the nearest SBI branch with all your documents. To avoid these complex steps, you can simply apply for your education loan via GyanDhan.

Understanding the different aspects of an SBI student loan can help you make the best choice for your educational journey. With options ranging from SBI study loan to more specific SBI student education loan plans, SBI caters to a wide array of academic disciplines and study destinations.

Leverage GyanDhan’s expertise to navigate the SBI education loan for abroad studies effortlessly. With their guidance, applying for a SBI student loan for study abroad becomes a seamless journey, ensuring your dreams are just a loan away.

GyanDhan is an online platform that helps students in India to finance their education abroad. With us, you can get your education loan sanctioned in four simple steps:

Apply online Free doorstep document collection Processing & approval Loan sanction & disbursal

Apply online for your education loan

Getting your SBI education loan through GyanDhan:

• Guaranteed best loan: GyanDhan is committed to providing you with the most competitive education loan available in the market. We strive to bring you the best possible deal. If you happen to come across a better offer, we will cover the difference in interest rates for the entire duration of your education loan.
• Low turnaround time: GyanDhan officials coordinate with various departments within SBI to secure a loan approval in just 15-20 days. This is why thousands of students trust us with their loan requests every year. If a student applies directly to the bank, the usual SBI loan processing time is around 30-45 days.
• Doorstep service: SBI education loan for abroad, GyanDhan provides doorstep pickup service of documents in Delhi, Mumbai, Pune, Hyderabad, Bengaluru, Chennai & Kolkata.  
• 100% free of cost services: GyanDhan’s services for applicants are absolutely free. We do not charge any kind of processing fees or commissions from the applicants at all.
• Higher chances of approval: In case of any missing documents, property issues, or other problems, we approach SBI officials promptly to find solutions. This ensures speedy resolution and significantly increases your odds of approval. In case of any bottlenecks, GyanDhan will always be by your side!