UCO Bank

UCO Bank’s Education Loan

Objective of the Scheme :

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

Eligibility of the Student  :

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 )

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 over a Wide Area :

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

Liability of Finance :

Quantum of Finance :

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

Margin :

  • Upto Rs. 4 Lac - Nil
  • Above Rs. 4 Lac Studies in India - 5%
  • Studies Abroad - 15%

Processing Fee / Mortgage Charges : NIL

Rate of Interest :

  • Upto Rs 7.50 lacs :- Base rate + 2.50%
  • Above Rs.7.50 lacs :- Base Rate + 2.25%

Repayment Period of the Loan :

  • Upto Rs 7.50 lacs :- Upto 10 years
  • Above Rs.7.50 lacs :- Upto 15 years

Repayment Holiday :

  • Course period+ 1year or 6 months after getting job whichever is earlier.
  • 1% interest concession is available during moratorium period, if interest is serviced regularly during the moratorium period.

To Apply Offline:

http://www.ucobank.com/personal-banking/document/education-loan-form.pdf

To Apply Online:

http://ucoeduloan.ucobank.com/ucoonlineform.aspx

For more Details, Kindly refer the following link :

http://www.ucobank.com/personal-banking/loans-advances.aspx#.UrJtHNIW3l8

UCO’s Premier Educational Loan Scheme

Objective of the Scheme :

Providing financial support at preferential terms to students who have secured admissions in premier educational Institutes of the country.

Eligibility of the Student  :

The student should be an Indian National

The student  should have secured admission to a higher education course in recognized institutions in India or Abroad through Entrance Test / Merit Based Selection process after completion of HSC ( 10 plus 2 or equivalent ).

Courses eligible :

Regular full-time Degree / Diploma courses and Part-time courses offered by Institutes eligible under the scheme, admission in which is obtained through an Entrance Test / Selection Process / Percentage of marks as prescribed by the Institute would be allowed.

Age Limit :

Age limit for General - 38 yrs.

Age limit for SC / ST - 40 yrs.

Liability of Finance :

Quantum of Finance :

Maximum loan amount Rs. 30 lacs ( inclusive of group credit life insurance premium ) subject to ceilings for different categories of Institutes as under:

Category of Educational Institutes

Maximum Loan Amount

List 'A'

Rs. 30 lacs

List 'B'

Rs. 20 lacs

List 'C'

Rs. 15 lacs

 

Margin :

Up to Rs. 4 lacs : No Margin.

Above Rs. 4 lacs : 5 % of total fee i.e. Course fee and other expenses.

Rate of Interest :

Base Rate + 1.00% i.e. currently 11.20% p.a.

Repayment Period of the Loan :

Repayment of the loan will be maximum 180 equated monthly installments ( EMIs* ). ( i.e. 15 years maximum )

Processing Fee / Mortgage Charges : NIL

For more Details, Kindly refer the following link :

http://www.ucobank.com/personal-banking/loans-advances.aspx#.UrJtHNIW3l8

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