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Kotak Mahindra Bank vs Union Bank of India Education Loan
Union Bank of India advertises the lower starting rate (7.35% vs 11%). On ₹20 lakh over 10 years that is about ₹4,75,912 less interest, or ₹3,966 less per month, at the starting rates.
| Kotak | Union Bank | |
|---|---|---|
| Starting interest rate | 11% | 7.35% |
| EMI for ₹20 lakh, 10 years | ₹27,550 | ₹23,584 |
| Total interest | ₹13,06,000 | ₹8,30,089 |
| Processing fee | Not stated | Not stated |
| Prepayment | Not stated | Not stated |
| Maximum tenure | - | - |
Source: Kotak Mahindra Bank official page, checked 2 November 2026.
Source: Union Bank of India official page, checked 2 November 2026.
These figures use the bank's advertised starting rate. Most borrowers are offered a higher rate depending on credit score, income and loan size, so treat the result as a best case.
Frequently asked questions
Which is cheaper, Kotak or Union Bank education loan?
Union Bank of India advertises the lower starting rate (7.35% vs 11%). On ₹20 lakh over 10 years that is about ₹4,75,912 less interest, or ₹3,966 less per month, at the starting rates. Your actual rate may differ from the starting rate.