Scope:Educational Loan

The scheme extends a helping hand to meritorious students desirous of pursuing basic/higher/professional/technical education either in India or abroad. The parents will become co-borrowers with their dependant (student) if the latter applies for educational loan.

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.

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.


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.

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.

Quantum of loan

Need based finance subject to repaying capacity of parents/students with following ceilings :

Studies in India : Maximum Rs. 10.00 Lac

Studies Abroad : Maximum Rs. 20.00 Lac.

The loan amount under the scheme would be for meeting the following expenses :

Course Fees

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.


Upto Rs.4.00 lacs – No security

Above Rs.4.00 lacs – Collateral securities by way of suitable 3rd party guarantee or tangible security equivalent to loan amount.


Upto Rs. 4 Lac - Nil

Above Rs. 4 Lac Studies in India - 5%

Studies Abroad - 15%

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

Interest Rates-

Click here to view the rate of Interest


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.

Download UCO Education Loan Application Form - (pdf version)

For more details, please contact your nearest UCO Bank branch.