{"id":10900,"date":"2024-03-06T11:57:52","date_gmt":"2024-03-06T06:27:52","guid":{"rendered":"https:\/\/fly.finance\/blog\/?p=10900"},"modified":"2024-03-13T12:01:24","modified_gmt":"2024-03-13T06:31:24","slug":"union-bank-of-india-education-loan-documents-required","status":"publish","type":"post","link":"https:\/\/fly.finance\/blog\/education-loan\/union-bank-of-india-education-loan-documents-required\/","title":{"rendered":"Union Bank of India Education Loan Documents Required"},"content":{"rendered":"\n<p>Union Bank is one of the most popular public sector banks for study abroad education loans. The bank provides education loans without collateral up to INR 40 lakhs and secured loans up to INR 1.5 crore or more based upon the requirement of the student. <a href=\"https:\/\/fly.finance\/blog\/education-loan\/union-bank-education-loan-interest-rate\/\"><strong>Union Bank education loan interest rate<\/strong><\/a> is also low and easily affordable.<\/p>\n\n\n\n<p>Documentation is one of the major parts of loan processing as the bank verifies all the details based on the documents submitted by the student. You need to submit various documents like KYC documents, academic documents, financial documents etc. Let\u2019s check all the details on the documents required for the Union Bank education loan.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><h2 id=\"table-of-contents\">Table of contents<\/h2><ul><li><a href=\"#h-what-are-the-documents-required-for-a-union-bank-education-loan\" data-level=\"2\">What are the Documents Required for a Union Bank Education Loan?<\/a><ul><li><a href=\"#h-academic-documents\" data-level=\"3\">Academic Documents<\/a><\/li><li><a href=\"#h-kyc-documents\" data-level=\"3\">KYC Documents<\/a><\/li><li><a href=\"#h-financial-documents\" data-level=\"3\">Financial Documents<\/a><\/li><\/ul><\/li><li><a href=\"#h-union-bank-education-loan-documents-required-after-loan-sanction\" data-level=\"2\">Union Bank Education Loan: Documents Required After Loan Sanction<\/a><\/li><li><a href=\"#h-important-guidelines\" data-level=\"2\">Important Guidelines<\/a><\/li><li><a href=\"#h-faqs\" data-level=\"2\">FAQs<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-are-the-documents-required-for-a-union-bank-education-loan\"><span id=\"what-are-the-documents-required-for-a-union-bank-education-loan\">What are the Documents Required for a Union Bank Education Loan?<\/span><\/h2>\n\n\n\n<p>There are a lot of documents required to process and disburse the Union Bank education loan. Students shall submit all the documents to the bank within the stipulated time. The documents are required to be submitted usually in two stages- before the loan sanction and before the loan disbursement. Check the various types of documents required for a Union Bank education loan to study abroad.<\/p>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: Did you know you can apply for an education loan through the app? Check all about <\/strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/yono-sbi-education-loan\/\"><strong>YONO SBI Education Loan to Study Abroad<\/strong><\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-academic-documents\"><span id=\"academic-documents\">Academic Documents<\/span><\/h3>\n\n\n\n<p>Academic documents are required to be submitted as the bank checks the academic history of the student and determines how strong his academic performance is. Also, you need to submit the letter of admission before the loan disbursement. Check the complete list of documents below:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Scorecard of secondary and higher secondary exam<\/li>\n\n\n\n<li>Copy of result of entrance exam (GRE, GMAT, IELTS etc as applicable)<\/li>\n\n\n\n<li>Letter of admission (if the bank asks for it before loan sanction)<\/li>\n\n\n\n<li>Copy of scholarship or any other grants (if available)<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-kyc-documents\"><span id=\"kyc-documents\">KYC Documents<\/span><\/h3>\n\n\n\n<p>KYC (Know Your Customer) documents are submitted so that the bank can verify the age, address and credit history of the applicant and co-applicant and the guarantor (if applicable). Some of the common KYC documents required for Union Bank education loans are as follows:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Aadhaar Card<\/li>\n\n\n\n<li>PAN Card<\/li>\n\n\n\n<li>Driving License<\/li>\n\n\n\n<li>Voter ID Card<\/li>\n\n\n\n<li>Passport<\/li>\n\n\n\n<li>Utility Bills (water or electricity)<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-financial-documents\"><span id=\"financial-documents\">Financial Documents<\/span><\/h3>\n\n\n\n<p>Financial documents are required to check the financial background and status of the applicant and co-applicant so that the bank can determine the right loan amount as per the repayment capacity. The income documents include the following:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>3 months\u2019 salary slip<\/li>\n\n\n\n<li>Last 2 years\u2019 tax returns<\/li>\n\n\n\n<li>6 months\u2019 bank statement<\/li>\n\n\n\n<li>Asset and liability statement<\/li>\n\n\n\n<li>A\/c payee cheque<\/li>\n\n\n\n<li>Copy of sale deed of the property mortgaged (in case of a secured loan)<\/li>\n<\/ul>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: Looking for an education loan at an affordable interest rate? Check here all about <\/strong><a href=\"https:\/\/fly.finance\/blog\/education-loan\/iob-education-loan-interest-rate\/\"><strong>IOB Education Loan Interest Rate<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-union-bank-education-loan-documents-required-after-loan-sanction\"><span id=\"union-bank-education-loan-documents-required-after-loan-sanction\">Union Bank Education Loan: Documents Required After Loan Sanction<\/span><\/h2>\n\n\n\n<p>Usually, the banks approve the loan and issue the education loan sanction letter before confirmation of admission to a foreign university. However, the loan will not be disbursed until the bank receives and verifies the documents that show the confirmation of moving abroad for studies. Hence, the students are required to submit the following documents post-loan sanction to initiate the <a href=\"https:\/\/fly.finance\/blog\/education-loan\/union-bank-education-loan-disbursement-process\/\"><strong>Union Bank education loan disbursement process<\/strong><\/a>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Letter of Admission to the University<\/li>\n\n\n\n<li>Visa approval letter<\/li>\n\n\n\n<li>Air tickets<\/li>\n\n\n\n<li>Details of travel and health insurance<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-important-guidelines\"><span id=\"important-guidelines\">Important Guidelines<\/span><\/h2>\n\n\n\n<p>It is very important to submit all the necessary documents on time to the bank so that the bank gets enough time to verify the same. Every single procedure involved in the approval of an education loan is supported by an authentic document. Check some of the major guidelines below:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Always submit a clear copy of the document so that the details can be properly visible<\/li>\n\n\n\n<li>Submit authentic documents only and never forge them<\/li>\n\n\n\n<li>The documents must be self-attested<\/li>\n\n\n\n<li>If the bank demands documents attested by a gazetted officer, then you need to submit the same<\/li>\n\n\n\n<li>Never delay in submitting documents as it may lead to the cancellation of the loan<\/li>\n\n\n\n<li>Always keep all the documents handy<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs\"><span id=\"faqs\">FAQs<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1710311136112\"><strong class=\"schema-faq-question\">What documents are required to apply for a Union Bank education loan?<\/strong> <p class=\"schema-faq-answer\">To apply for a Union Bank education loan, you will need to submit the following documents:<br\/>&#8211; Completed loan application form<br\/>&#8211; Proof of admission to the educational institution<br\/>&#8211; Mark sheets and certificates of the qualifying examination<br\/>&#8211; Proof of identity (such as Aadhar card, passport, or voter ID)<br\/>&#8211; Proof of residence (such as utility bills or rental agreement)<br\/>&#8211; Income proof of co-borrower, if any<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1710311155863\"><strong class=\"schema-faq-question\">Can I submit a digital copy of the documents for my Union Bank education loan application?<\/strong> <p class=\"schema-faq-answer\">Yes, Union Bank accepts digital copies of documents for the education loan application. You can scan or take clear photographs of the required documents and upload them through the bank&#8217;s online application portal.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1710311164734\"><strong class=\"schema-faq-question\">Is a co-borrower necessary for a Union Bank education loan, and what documents do they need to provide?<\/strong> <p class=\"schema-faq-answer\">In many cases, a co-borrower is required for Union Bank education loans. The co-borrower can be a parent, guardian, or spouse. The co-borrower needs to provide proof of identity, residence, and income along with their photograph.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1710311173420\"><strong class=\"schema-faq-question\">What income documents are accepted for the co-borrower in a Union Bank education loan application?<\/strong> <p class=\"schema-faq-answer\">Union Bank accepts various income documents for the co-borrower, including:<br\/>&#8211; Salary slips for the last three months<br\/>&#8211; Income tax returns for the last two years<br\/>&#8211; Bank statements for the last six months<br\/>&#8211; Form 16 or certificate from the employer<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1710311190406\"><strong class=\"schema-faq-question\">Are there any specific requirements for the collateral documents for a Union Bank education loan?<\/strong> <p class=\"schema-faq-answer\">If the loan amount exceeds a certain limit, Union Bank may require collateral. The collateral documents typically include property documents of the collateral (title deed, sale deed, etc.), valuation certificate, NOC from the local authority confirming the marketability of the property etc.<\/p> <\/div> <\/div>\n\n\n\n<p>Documents required for Union Bank education loans are required to be submitted on time. Always keep the entire document handy so that the loan processing becomes smooth and on time.<\/p>\n\n\n\n<p>To know more about <a href=\"https:\/\/fly.finance\/blog\/education-loan\/\"><strong>education loans<\/strong><\/a>, the best <a href=\"https:\/\/fly.finance\/blog\/student-account\/\"><strong>bank accounts for students<\/strong><\/a>, forex and banking experience for global students or <a href=\"https:\/\/fly.finance\/blog\/money-transfer\/\"><strong>international money transfers<\/strong><\/a>, reach out to our experts at 1800572126 to help ease your study abroad experience.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-pale-ocean-gradient-background has-background\"><tbody><tr><td><strong>Related Blogs<\/strong><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/how-to-apply-for-education-loan-through-vidya-lakshmi-portal\/\"><strong>How to apply for Vidya Lakshmi Education Loan<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/money-transfer\/impact-of-inflation-on-currency-exchange-rate\/\"><strong>Understanding the Impact of Inflation on Currency Exchange Rate<\/strong><\/a><\/td><\/tr><tr><td><a href=\"https:\/\/fly.finance\/blog\/education-loan\/federal-bank-education-loan-interest-rate\/\"><strong>Federal Bank Education Loan Interest Rate<\/strong><\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Follow Us on Social Media <\/strong><\/p>\n\n\n\n<ul class=\"wp-block-social-links is-layout-flex wp-block-social-links-is-layout-flex\"><li class=\"wp-social-link wp-social-link-instagram  wp-block-social-link\"><a href=\"https:\/\/instagram.com\/flydotfinance\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path 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c-0.344,0.094-0.707,0.144-1.081,0.144c-0.264,0-0.521-0.026-0.772-0.074c0.522,1.63,2.038,2.816,3.833,2.85 c-1.404,1.1-3.174,1.756-5.096,1.756c-0.331,0-0.658-0.019-0.979-0.057c1.816,1.164,3.973,1.843,6.29,1.843 c7.547,0,11.675-6.252,11.675-11.675c0-0.178-0.004-0.355-0.012-0.531C20.985,7.47,21.68,6.747,22.23,5.924z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">Twitter<\/span><\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Union Bank is one of the most popular public sector banks for study abroad education loans. The bank provides education loans without collateral up to INR 40 lakhs and secured loans up to INR 1.5 crore or more based upon the requirement of the student. Union Bank education loan interest rate is also low and &#8230; <a title=\"Union Bank of India Education Loan Documents Required\" class=\"read-more\" href=\"https:\/\/fly.finance\/blog\/education-loan\/union-bank-of-india-education-loan-documents-required\/\" aria-label=\"Read more about Union Bank of India Education Loan Documents Required\">Read more<\/a><\/p>\n","protected":false},"author":24,"featured_media":10903,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"class_list":["post-10900","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education-loan"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.5 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Union Bank of India Education Loan Documents Required<\/title>\n<meta name=\"description\" content=\"This blog includes the details about the Union Bank of India Education Loan Documents Required. 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With expertise in crafting informative blogs on study abroad and finance, Shekhar helps readers navigate the complexities of education and financial planning. Most of his writings blend the practicality of finance and the beauty of language, making a meaningful impact in both spheres. Beyond his professional pursuits, he finds solace in the writing Shayari.","sameAs":["https:\/\/in.linkedin.com\/in\/thahankmoody","https:\/\/www.tumblr.com\/blog\/dhanlabh"],"url":"https:\/\/fly.finance\/blog\/author\/shekhar\/"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/union-bank-of-india-education-loan-documents-required\/#faq-question-1710311136112","position":1,"url":"https:\/\/fly.finance\/blog\/education-loan\/union-bank-of-india-education-loan-documents-required\/#faq-question-1710311136112","name":"What documents are required to apply for a Union Bank education loan?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"To apply for a Union Bank education loan, you will need to submit the following documents:<br\/>- Completed loan application form<br\/>- Proof of admission to the educational institution<br\/>- Mark sheets and certificates of the qualifying examination<br\/>- Proof of identity (such as Aadhar card, passport, or voter ID)<br\/>- Proof of residence (such as utility bills or rental agreement)<br\/>- Income proof of co-borrower, if any","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/union-bank-of-india-education-loan-documents-required\/#faq-question-1710311155863","position":2,"url":"https:\/\/fly.finance\/blog\/education-loan\/union-bank-of-india-education-loan-documents-required\/#faq-question-1710311155863","name":"Can I submit a digital copy of the documents for my Union Bank education loan application?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, Union Bank accepts digital copies of documents for the education loan application. You can scan or take clear photographs of the required documents and upload them through the bank's online application portal.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/union-bank-of-india-education-loan-documents-required\/#faq-question-1710311164734","position":3,"url":"https:\/\/fly.finance\/blog\/education-loan\/union-bank-of-india-education-loan-documents-required\/#faq-question-1710311164734","name":"Is a co-borrower necessary for a Union Bank education loan, and what documents do they need to provide?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"In many cases, a co-borrower is required for Union Bank education loans. The co-borrower can be a parent, guardian, or spouse. The co-borrower needs to provide proof of identity, residence, and income along with their photograph.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/union-bank-of-india-education-loan-documents-required\/#faq-question-1710311173420","position":4,"url":"https:\/\/fly.finance\/blog\/education-loan\/union-bank-of-india-education-loan-documents-required\/#faq-question-1710311173420","name":"What income documents are accepted for the co-borrower in a Union Bank education loan application?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Union Bank accepts various income documents for the co-borrower, including:<br\/>- Salary slips for the last three months<br\/>- Income tax returns for the last two years<br\/>- Bank statements for the last six months<br\/>- Form 16 or certificate from the employer","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/education-loan\/union-bank-of-india-education-loan-documents-required\/#faq-question-1710311190406","position":5,"url":"https:\/\/fly.finance\/blog\/education-loan\/union-bank-of-india-education-loan-documents-required\/#faq-question-1710311190406","name":"Are there any specific requirements for the collateral documents for a Union Bank education loan?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"If the loan amount exceeds a certain limit, Union Bank may require collateral. The collateral documents typically include property documents of the collateral (title deed, sale deed, etc.), valuation certificate, NOC from the local authority confirming the marketability of the property etc.","inLanguage":"en-US"},"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/10900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/users\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/comments?post=10900"}],"version-history":[{"count":2,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/10900\/revisions"}],"predecessor-version":[{"id":10902,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/posts\/10900\/revisions\/10902"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media\/10903"}],"wp:attachment":[{"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/media?parent=10900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/categories?post=10900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fly.finance\/blog\/wp-json\/wp\/v2\/tags?post=10900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}