Union Bank of Colombo PLC · Personal Loan

Educational Loans

#33 of 49 · Lower than 33% of personal loans that publish a rate.

Interest rate p.a.: Up to 15.25%
Maximum amount: LKR 20M
Maximum term: 15 yrs

Rates and terms last verified 9 June 2026. Confirm the current terms with the bank.

Full details on Union Bank of Colombo PLC's website

Tell us what you need and we will check which banks and finance companies on our panel could take your application. We are not a bank and do not lend. Approval and final terms are decided by the bank or finance company.

Features

For both Local and Foreign study programmes.
Ability to apply jointly with parents, relatives or legal guardian.
Grace periods up to 5 years.
Speedy service.

Who can apply

Sri Lankan citizens aged between 18-55 years
Income holder should be employed for a minimum of 12 months and be in a confirmed employment
Salaried Individuals – Net income of LKR 100,000.00 to LKR 150,000.00 per month.

Interest rate p.a.

Up to 15.25%

Check My Eligibility

Educational Loans: common questions

What is the interest rate on the Educational Loans?

Union Bank lists Up to 15.25% per annum for the Educational Loans. That is a ceiling; the rate you are offered depends on your profile. Lower than 33% of personal loans that publish a rate.

How much can I borrow, and for how long?

The Educational Loans goes up to LKR 20M, repaid over up to 15 yrs. The amount you are approved for depends on your income and existing repayments.

Who is eligible for the Educational Loans?

About the Educational Loans

The Educational Loans is a personal loan from Union Bank in Sri Lanka. Its listed rate is Up to 15.25%. The features, eligibility and documents above come from the bank's published terms; confirm them with Union Bank before you apply, as rates and conditions change.

Before taking a personal loan, compare the interest rate and whether it is fixed or floating, the maximum amount and repayment period, processing fees, early settlement charges, and the income and documents each lender asks for.

See every personal loans from Union Bank or compare personal loans from every bank.

Self-employed Professionals/Sole Proprietors or Partners with net share of profit/income of LKR 200,000.00 per month

Documents you'll need

Duly completed loan application form
Copy of National Identity Card
Copy of latest salary slip
Letter from employer confirming employment and income
Non-salaried individuals should provide valid documentary proof to justify the repayment income
Letter specifying course details & fee structure issued by the Educational Institution
Standing order / salary assignment letter
Title documents & local authority documents related to the property, if the loan is backed by a mortgage of property

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Reviews for Educational Loans

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Sri Lankan citizens aged between 18-55 years Income holder should be employed for a minimum of 12 months and be in a confirmed employment Salaried Individuals – Net income of LKR 100,000.00 to LKR 150,000.00 per month. Self-employed Professionals/Sole Proprietors or Partners with net share of profit/income of LKR 200,000.00 per month

What documents do I need?

Duly completed loan application form; Copy of National Identity Card; Copy of latest salary slip; Letter from employer confirming employment and income; Non-salaried individuals should provide valid documentary proof to justify the repayment income; Letter specifying course details & fee structure issued by the Educational Institution.

How do I apply for the Educational Loans?

Use the button on this page to send one application through AnyBanQ, or contact Union Bank directly. AnyBanQ is not a bank or lender; approval and final terms are decided by Union Bank.