Which interest rate would I pay on a Union Bank of India Premier Abroad education loan?
Under the Union Bank of India Premier Abroad education loan, Category A institutes typically carry 9.50% up to INR 40 lakh without collateral, 9.25% and 9.00% with more collateral, while Category B starts at 9.75%. Rates change, so check the bank's official page.
The Union Bank of India Premier Abroad education loan has rates that depend on the institute category, the loan amount and the collateral you offer. Rates change, so treat the figures below as the typical ones and confirm them with the bank.
Premier Abroad Interest Rates
| Institute category | Loan amount | Collateral coverage | Rate of interest |
|---|---|---|---|
| Category A | Up to INR 40 Lakh | No collateral | 9.50% |
| Category A | Up to INR 150 Lakh | 50% to under 100% | 9.25% |
| Category A | INR 150 Lakh and above | 100% and above | 9.00% |
| Category B | Up to INR 30 Lakh | No collateral | 9.75% |
| Category B | Up to INR 150 Lakh | 50% to under 100% | 9.50% |
| Category B | INR 150 Lakh and above | 100% and above | 9.00% |
Other Union Bank Education Loan Rates
- PM Vidyalaxmi schemes list rates from 7.85% (AAA) to 9.50% (BB), depending on the rating category.
- Non-PM Vidyalaxmi (Union Medicos) rates range from 9.50% to 10.00% depending on loan amount and collateral.
- The bank is a public sector bank, and its student loans are described as having lower rates than private banks.
My Advice
Check which category your institute falls into, since it changes your rate. Compare the no-collateral and collateral options, and confirm the latest rate with the bank before you sign.
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