UCO Bank Education Loan | Eligibility | Interest rates

UCO Bank offers education loan scheme to extends a helping hand to meritorious students desirous of pursuing higher study either in India or abroad. get details on Interest rates, eligible courses & universities list of UCO Bank.

Compare Education Loan
Full Name:
Country of Study:
Course of Study:
Co-borrower’s* Income:
Email ID :
Residence City:
Course Name:
Required Loan Amount:
Mobile:
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Applicant’s Income Status :

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* Co-borrower : Relative with good income who can support your education loan application. Typically it can be your Father, Mother, Brother, Sister, Spouse, Cousin, Paternal Uncle (Chacha), Paternal Aunt (Chachi), Maternal Uncle (Mama), Maternal Aunt (Mami), Grandfather, Grandmother

Education Loan Interest Rates – UCO Bank

  • Upto Rs 7.50 lacs :- 11.35%
  • Above Rs.7.50 lacs :- 11.75%

Eligibility

  • Studies in India
  1. 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.).
  2. Computer Certificate courses of reputed institutes accredited to DoE.
  3. Courses like ICWA, CA, CFA, etc.
  • Studies Abroad
  1. Graduation : Job oriented professional / technical courses offered by reputed Universities.
  2. Post Graduation : MCA, MBA, MS, etc.
  3. Courses conducted by CIMA – London, CPA in U.S.A., etc.

Studies Abroad

  1. Graduation : Job oriented professional / technical courses offered by reputed Universities.
  2. Post Graduation : MCA, MBA, MS, etc.
  3. 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 required for education loan at UCO Bank:

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)

Quantum of loan

Studies in India : Maximum Rs. 10.00 Lac

Studies Abroad : Maximum Rs. 20.00 Lac

Security

Upto Rs. 4.00 lacs: “ No security, co-obligation of parents

Above Rs. 4.00 lacs & upto Rs. 7.50 lacs: Co-obligation of parents, collateral in the form of a suitable 3rd party guarantee

Above Rs. 7.50 lacs : Co-obligation of parents, tangible collateral security equivalent to full value of loan

Margin

  • Upto Rs. 4 Lac – Nil
  • Above Rs. 4 Lac Studies in India – 5%
  • Studies Abroad – 15%

Processing Charge –  NIL (There are no processing charges)

Disbursement – Disbursement in stages as per the requirement directly to institutions.

Repayment Period – 15 Years for all categories.

Repayment Holiday

Course period+ 1year or 6 months after getting job whichever is earlier.

1% interest concession is available during moratorium period, if interest is serviced regularly during the moratorium period.

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