Education Loans in India
Tuesday, January 21, 2020
Education & Career
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UCO Bank Education Loan Scheme


Eligibility : 


  • 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.


a) 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.

a) 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

  • 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.

Loan Details

Coverage of Expenses

  • 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.


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


  • Upto Rs. 4 Lac - Nil
  • For loans above Rs. 4 lacs
    - Studies in India - 5%
    - Studies abroad - 15%

Service Charge : There is no processing fee /upfront /service charge


  • Upto Rs. 4 lacs - No Security
  • For loans above Rs.4.00 lac -Collateral securities of suitable value.

Rate of Interest

  • For loans upto Rs. 4 lakhs : BPLR minus 1.00%=11.25% p.a.
  • For loans above Rs. 4 lakhs : BPLR minus 0.5%=11.75% p.a.

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.

Contact Details
Head Office
UCO Bank,
10, B T M Sarani, Kolkata – 700 001 ( West Bengal)
Phone : 033-2234 1756
Fax : 033-2225 4182
Website : visit
UCO Bank Regional Offices

Click here for the nearest bank branches

Note : Since the rules, regulations, eligibility conditions, repayments and interests rates etc. are revised by the banks from time to time in keeping pace with the changing capital market conditions, students and parents are advised to thoroughly check the terms and conditions of educational loan scheme on offer at the time of application.