Download UCO Education Loan Application Form - (pdf version) 
Scope:
The scheme extends a helping hand to meritorious students desirous of pursuing higher study either in India or abroad.
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.
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)
Quantum of loan
- Studies in India : Maximum Rs. 10.00 Lac
- Studies Abroad : Maximum Rs. 20.00 Lac
Security
- 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
Margin
- Upto Rs. 4 Lac - Nil
- Above Rs. 4 Lac Studies in India - 5%
- Studies Abroad - 15%
Insurance
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
Disbursement in stages as per the requirement directly to institutions.
Rate of Interest
| Base Rate |
9.70% |
05.10.2015 |
| BPLR |
14.25% |
05.10.2015 |
- Upto Rs 7.5 lacs :- UCO Float Rate + 2.40%
- Above Rs 7.7 lacs :- UCO Float Rate + 2.80%
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.
For more details, please contact nearest branch.
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