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UCO Bank Education Loan- Student Loan in India

UCO Bank Education Loan Scheme


The scheme extends a helping hand to meritorious students desirous of pursuing higher study either in India or abroad.

UCO Bank Education Loan Eligibility criteria

Studies in India Approved courses leading to graduate/post graduate (Masters & PhD. degree and PG Diplomas conducted by recognized colleges/universities, Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc.).

Computer Certificate courses of reputed institutes accredited to DoE.

Courses like ICWA, CA, CFA, etc.

Studies Abroad

Graduation : Job oriented professional / technical courses offered by reputed Universities.

Post Graduation : MCA, MBA, MS, etc.

Courses conducted by CIMA - London, CPA in U.S.A., etc.

Age limit

For Graduation: 

28 years for general candidates

30 years for SC/ST candidates

For Post Graduation: 

30 years for general candidates

33 years for SC/ST candidates

Eligibility The main conditions for eligibility include

    • Student must be an Indian National
    • Secured admission to a higher education course in India or entrance test or selection process after completion of HSC (10 plus 2 or equivalent)

UCO Bank Education Loan - Quantum of loan

Studies in India : Maximum Rs. 10.00 Lac

Studies Abroad : Maximum Rs. 20.00 Lac
For loan upto Rs.7.50 lac

- Co-obligation of Parents.

-No Security or third party guarantee.

All the loans upto Rs. 7.50 lacs under UCO Education loan Scheme should be covered under Credit Guarantee Fund Scheme for Education Loan (CGFSEL).

For loans above Rs. 7.50 lac

-Co-obligation of parents, tangible collateral security equivalent to full value of loan

UCO Bank Education Loan Margin

Upto Rs. 4 Lac - Nil

Above Rs. 4 Lac Studies in India - 5%

Studies Abroad - 15%


  • Group Life Insurance Cover Scheme for Educational Loan Borrowersto cover the outstanding loan in case of accidental or natural death of borrower

Processing Charge

There are no processing charges

UCO Bank Education Loan Disbursement

Disbursement in stages as per the requirement directly to institutions.

Rate of Interest

  • Upto Rs 7.50 lacs :- MCLR of 1 Year + 2.00%
  • Above Rs.7.50 lacs :- MCLR of 1 Year + 2.40%

Repayment Period

  • 15 years (180 EMI) for all categories of loan after moratorium period

Repayment holiday / Moratorium Period

  • Course period + 1 year after completion of studies for all categories.