Why For/ Purpose /Objective:
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.
Eligibility Criteria
Student 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.
Courses Eligible
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.
Quantum/ Amount of Loan
Studies in India : Maximum Rs. 10.00 Lac
Studies Abroad : Maximum Rs. 20.00 Lac.
Expenses Considered for Loan:
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.
Margin/ Allowance:
Upto Rs. 4 Lac - Nil
Above Rs. 4 Lac Studies in India - 5%
Studies Abroad - 15%
Repayment/ Tenures:
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.
Security:
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.
Contact
New Delhi Regional Office
5, Sansad Marg
New Delhi - 110001
ro.newdelhi@ucobank.co.in
Chennai Regional Office
UCO Bank Building
169, Thambu Chetty Street,
Chennai - 600001
ro.chennai@ucobank.co.in
Hyderabad Regional Office
8-2-624, Road No.10, Banjara Hills,
Post Box No.52, Hyderabad - 500034
ro.hybd@ucobank.co.in
Bangalore Regional Office
UCO bank Building, 2nd Floor
13/22, Kempegowda Road,
Bangalore - 560009
ro.blr@ucobank.co.in
Kolkata Regional Office
31, B.B.D. Bagh(South)
Hongkong House, Kolkata - 700001
ro.calcutta@ucobank.co.in
Mumbai Regional Office
Mafatlal Centre, 2nd Floor
Nariman Point,
Mumbai (Maharashtra) 400021
ro.mumbai@ucobank.co.in
Website
www.ucobank.com
