UCO Bank: Education Loans

Eligibility of UCO Bank Education Loan

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

Eligible Courses

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 Master 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.
• Course 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 USA. Etc.

AgeLlimit

• 18 to 25 years for graduation course- may be extended from 28-30 year 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 ceiling:
• Studies in India: Maximum Rs. 7.50 lac
• Studies Abroad: Maximum Rs. 15 lac.
• The loan amount under the scheme would be for meeting the following expenses:

Course Fee

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

UCO Bank Rate of Interest

• For study in India and Abroad 13%

Security of Loan

• Up to Rs.4.00lacs – No security
• Above Rs.4.00 lacs – Collateral securities of suitable value.

Margin of Loan

Up to Rs. 4 lac – NIL and Above Rs. 4 lac Studies in India –5% and Studies Abroad – 15%

Service Charge: There is no processing fee/ up front/ service charges.

Repayment of Loan

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.

Further information of UCO Bank Education Loan can be had from

UCO Bank – NRI Relationship Centre

Head Office, International Wing

10, B T M Sarani, Kolkata 700001 (W.B.)

Ph: 91 –33 –2234 –1756, Fax: 91 –33 –2225 –4182

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