Website : www.ucobank.com/
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 educat.
Bank Type : Nationalized Bank
Full time Post Graduate or Doctoral Programs in Engineering, Medicine, Technology (Pure & Applied Sciences), Agriculture, Computer Science, Business Administration, Economics and other Social Sciences
Provided study loan amount in India : Upto 7.5 Lakhs
Provided study loan amount in Abroad: Upto 15 Lakhs
Graduation Courses in recognized universities leading to degrees like B.A., B.Sc., B.Com, B.Tech, B.E., MBBS etc.
Education Loans from UCO Bank cover fees for boarding, caution deposit and building fund. Apart from fees for library and examination, it also includes other expenses related to completion of the course. Even travel expenses are taken into account.
Up to Rs. 4 Lac – Nil.
Above Rs. 4 Lac studies in India – 5%.Studies Abroad – 15%.Service Charge : There is no processing fee /upfront /service charge.
Interest Rate :
Up to Rs.4 lacs – BPLR – 1.00% i.e. 12.50 % p.a. Above Rs.4 lacs – BPLR – 0.5% i.e. 13.00% 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.
Up to Rs.4.00 lacs – No security.Above Rs.4.00 lacs – Collateral securities of suitable value.