Looking for an Education Loan from UCO Bank?

Look no further. We bring you the information you need on different education loans from UCO Bank so you can make a sensible and sound decision.

Education Loans from UCO Bank

UCO Bank offers a truly student-friendly range of education loans to different segments of the student population. These loans are aimed at providing financial support to deserving students for pursuing higher education in India and abroad. As of November 2020, UCO Bank offers five education loans, each for a particular student segment or purpose.

The five education loans from UCO Bank are:

  1. UCO Bank Education Loan
  2. UCO Premier Education Loan Scheme (for Studying in Premier Institutes in India and Abroad)
  3. UCO Bank Super Premier Education Loan (for Studying in 8 Premier Institutes in India)
  4. UCO Aspire Education Loan (for Medical Courses)
  5. UCO Bank Skill Loan Scheme (for Skill Development Courses)

In addition, the bank offers one Government of India Interest Subsidy Schemes on education loans for meritorious and deserving students.

We give you a brief intro to each below. In addition you have the option to click further and read in detail about each loan in a specific page of its own. This specific page has been made specifically for you to get all the information you need on that loan in an uncluttered and easy-to-read format.

UCO Bank Student Loan Scheme

The UCO Bank Student Loan Scheme helps students who want to pursue higher studies in India and abroad afford the cost of the course and related expenses. This loan scheme is based on the Indian Banks Association (IBA) Model Education Loan schemes. The maximum loan amount you can get for studying in India is Rs. 10 lakh and the maximum loan amount you can get for studying abroad is Rs. 20 lakh.

Features of UCO Bank Student Loan Scheme for Pursuing Higher Studies in India and Abroad

Why this Loan?

  • The loan is meant to help students fulfil their dreams of pursuing higher education in India or abroad
  • The loan is disbursed as a series of payments over the required number of years and not as a lump sum
  • The loan can be taken for all institution fees as well as related expenses including purchase of books, laptops, hostel fees, lab fees, examination fees, etc.

UCO Premier Education Loan Scheme

This loan helps meritorious and deserving students pursue higher education in India or abroad. The maximum loan amount for this loan is Rs 30 lakh for studying at premier institutes in India and abroad. However, the actual ceiling for loans for studying in India is capped based on the bank’s categorisation of institutes into three lists, namely List A, List B and List C.

Features of UCO Premier Education Loan

Why this Loan?

  • The loan is meant for you if you have gained admission into a premier institute in India or abroad
  • The bank disburses the UCO Bank Premier Education Loan as a series of payments over the required number of terms or years to pay the fees or other approved charges
  • The maximum loan amount for studying in India as well as abroad is Rs. 30 lakh

UCO Bank Super Premier Education Loan for Studying in Premier Education Institutes

This loan is meant for students pursuing higher studies at 8 premier educational institutes in the country, namely IIM-Ahmedabad, IIM-Bangalore, IIM-Kolkata, IIM-Indore, IIM-Lucknow, IIM-Kozhikode, XLRI-Jamshedpur and ISB-Hyderabad. The maximum loan amount is capped at Rs. 30 lakh or the 100% cost of the programme, whichever is lower.

Features of UCO Super Premier Education Loan

Why this Loan?

  • The loan is meant for you if you have gained admission into a Bachelors, Masters, Doctorate (PhD) or a professional studies programme at one of the eight premier institutes in the country, namely IIM-Ahmedabad, IIM-Bangalore, IIM-Kolkata, IIM-Indore, IIM-Lucknow, IIM-Kozhikode, XLRI-Jamshedpur and ISB-Hyderabad
  • The UCO Super Premium Education Loan is disbursed to the institution as required to pay the fees or other approved charges

UCO Aspire Education Loan (for Medical Courses)

This is a new loan from UCO Bank and is specifically meant for students taking up medical studies. It helps take care of the financial costs of pursuing medical courses in India and abroad. The maximum loan amount is capped at Rs. 75 lakh for both studying in India and studying abroad.

Features of UCO Aspire Education Loan

Why this Loan?

  • The loan is meant for you if you have secured admission in a medical course in India or abroad through an entrance test or selection process after completion of your Class 12, HSC or equivalent 10+2 level
  • Like other loans, UCO Bank disburses its UCO Aspire Education Loan Scheme as a series of payments over the required number of terms or years to pay the course fees or other approved charges

UCO Bank Skill Loan Scheme

This loan helps students who have gained admission into technical courses offered by Industrial Training Institutes (ITIs), polytechnics, etc. to pay for their course fees. The loan amount starts from Rs. 5,000 and can go up to Rs. 1.5 lakh depending on the duration of the course.

Features of UCO Bank Skill Loan Scheme for Technical Courses

Why this Loan?

  • The loan is meant for you if you have gained admission into a technical course offered by a polytechnic, Industrial Training Institute (ITI), etc. in India
  • The bank disburses the UCO Bank Skill Loan Scheme as a series of payments over the required number of terms or years to pay the course fees or other approved charges

UCO Bank Government of India Interest Subsidy Schemes

UCO Bank offers one Government of India Interest Subsidy Schemes on education loans for meritorious and deserving students. This scheme is:

  1. Central Sector Subsidy Scheme

Reference Facts

  • UCO Bank Website: www.ucobank.com and www.ucobanking.com (net banking)
  • Headquarters: Kolkata, West Bengal
  • Call Centre Toll-Free Number: 1800 274 0123