UCO Bank Education Loan

UCO Bank Education Loan


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

For Education in India and Abroad


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


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


  • 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


  • Upto Rs. 4.00 Lakhs : NIL
  • Above Rs. 4 Lac 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 in stages as per the requirement directly to institutions.

Processing Charge

Education Loans Spread over Base Rate Effective Rate
Upto Rs.7.50 lacs 2.50% 12.20%
More than Rs.7.50 lacs 2.25% 11.95%
Premier Education Loan Scheme 1.00% 10.70%
Vocational Education Loan Scheme 2.50% 12.20%
  • Upto Rs 7.50 lacs :- Base rate + 2.50%
  • Above Rs.7.50 lacs :- Base Rate + 2.25%

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 further details, please click here