Education Loan from UCO Bank



The scheme extends a helping hand to meritorious students desirous of pursuing basic/higher/professional/technical education either in India or abroad. The parents will become co-borrowers with their dependent (student) if the latter applies for educational loan.

Studies in India

  • School education including plus 2 stage.
  • Graduation courses leading to degrees like B.A., B.Sc., B.Com. etc.
  • Post Graduate courses leading to Masters degrees as also Ph.D.
  • Professional courses in Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc.
  • Computer Certificate courses of reputed institutes accredited to Universities or 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.


  • Applicant must have secured admission to professional/technical course through Entrance Test/Selection Process.
  • Secured admission to foreign University / Institution.
  • No maximum or minimum income is prescribed for parents/family.

Age limit :

  • 18 to 25 years for graduation course – may be extended from 28-30 years for general and SC/ST candidates respectively.
  • 21 to 28 years for post-graduation course etc. – may be extended from 30 -33 years for general & SC/ST candidates respectively.

Quantum of loan

Need based finance subject to repaying capacity of parents/students with following ceilings :

  • Studies in India : Maximum Rs. 10.00 Lac
  • Studies Abroad : Maximum Rs. 20.00 Lac.

The loan amount under the scheme would be for meeting the following expenses :

Course Fees

  • Hostel/Boarding Fees including caution deposit/building fund etc.
  • Books, Stationery & Equipment required for the course, including Computers.
  • Examination/Library/Laboratory fees.
  • Travel Expenses/Passage for studies abroad.


Up to Rs.4.00 lacs – No security


Above Rs.4.00 lacs – Collateral securities by way of suitable 3rd party guarantee or tangible security equivalent to loan amount.


Upto Rs. 4 Lac – Nil

Above Rs. 4 Lac Studies in India – 5%

Studies Abroad – 15%

Service Charge :

There is no processing fee /no service charge

Interest Rates :

Interest Rate on Advances




 loan amount

Interest rate

Effective rate

Up to Rs.7.50 lakhs

Base rate + 2.50%


Above Rs.7.50 lakhs

Base Rate + 225%



The loan will be repaid in 5-7 years after commencement of repayment. There will be moratorium for repayment during “the course period +1 year or 6 months after getting job, which ever is earlier”.

1% interest concession may be provided, if the interest is serviced during moratorium period.

For details on UCO Bank’s Education Loan, click here.