UCO Bank Education Loan

UCO Bank Education Loan

UCO Bank is nationalised Commercial Bank and its primary objective is giving Loans and Advances Instead of participation in meeting both Term Loan and Working Capital requirements of Agriculture sector, Trade and Service sector, Large/Medium and Small Scale Industries sector, Infrastructure sector etc. including taking care of their Export/Import and non-fund based needs like Letter of Credit, Bank Guarantee etc., Bank have large basket of loan products to fulfil the needs of customers. Education Loan is also one of that and Scope of education is to provide financial support to meritorious students desirous of pursuing higher study either in India or abroad.

Salient features of this loan are described below:

Financial support of Max 10 lakhs for studies in India and max 20 lakhs for studies in abroad.

Course Eligibility:

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.

Student eligibility:

  • 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)

Age limit:


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


  • Upto Rs. 4.00 lakhs: No security, co-obligation of parents
  • Above Rs. 4.00 lakhs & upto Rs. 7.50 lakhs: Co-obligation of parents, collateral in the form of a suitable 3rd party guarantee
  • Above Rs. 7.50 lakhs : Co-obligation of parents, tangible collateral security equivalent to full value of loan


  • Upto Rs. 4 Lac - Nil
  • Above Rs. 4 Lakhs: Studies in India - 5%

Studies Abroad - 15%


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

Processing Charge

  • There are no processing charges


Disbursement to the directly to the institute when required.

Rate of Interest:

Upto Rs 7.50 lakhs: - Base rate + 2.50%

Above Rs.7.50 lakhs: - Base Rate + 2.25%


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

Repayment Period:

Upto Rs 7.50 lakhs: - Upto 10 years

Above Rs.7.50 lakhs: - Upto 15 years

Repayment Holiday:

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


A Statement of means of Applicant/s (format enclosed)

B Two passport size photographs of Applicant/s

C Proof of Identity/Age (In respect of the Student, Co-applicant, Guarantor)

Any two of the following documents but one document as mentioned in 1 – 5 below is mandatory

  1. Ration Card
  2. Voter’s Identity Card
  3. PAN Card
  4. Pass Port
  5. Driving Licence
  6. Office Identity Card
  7. Birth Certificate
  8. School Leaving Certificate

In respect of the Co-applicant & Guarantor

  1. Bank’s Pass Book/ Statement of accounts for last six month

** Submission of Bank’s Pass Book / Statement of accounts (of both for Applicant/s and Guarantor/s) for last six month is COMPULSORY.

D In respect of the Student

  • Mark Sheet/ Degree Certificate of last qualifying examination.
  • Letter of Selection / Letter confirming secured admission
  • Proof of admission, scholarship, studentship/ Identity Card etc. from the educational institution.
  • Schedule of expenses for the specified course issued by the educational institution.
  • Information Brochure of the Institution describing course duration, fees like tuition fees and other fees /charges required for completion of course, hostel charges, boarding cost, cost of books / journals/equipments / instruments, stationery, exam and other fees, study tours, project work, thesis, air freight etc.

E Proof of Employment/Income (In respect of the Co-applicant &Guarantor)

  • Employment Verification Certificate (Format enclosed)
  • Salary Slip for the last three months
  • Form 16 issued by the office
  • Income Tax Return/Assessment Order.
  • Statement of means (Compulsory for Co-applicant &Guarantor)

F Documents for Take over Loans

  • Statement of Loan account with other bank/institution.
  • Copy of the sanction advice issued by the bank/institution

G Additional documents, if any, as per the terms & conditions of UCO Education loan scheme as well as norms & guidelines of the Bank.

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