Looking for a College Education Loan from UCO Bank to Study at a Premier Institute in India?

Look no further. This page summarises all the information you will need on UCO Bank’s Super Premier Education Loans for 8 premier education institutes.

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

Loan Amount

  • The maximum loan amount is capped at Rs. 30 lakh


  • The interest rate for this loan is equal to the sum of Repo Linked UCO Float Rate, which is 6.90% and a spread of 0.4%, which makes the effective interest rate 7.3%
  • Simple interest is charged during the moratorium period of the loan
  • The bank charges a penal interest of 2% on overdue amount if the loan amount is over Rs. 4 lakh


  • The repayment period for this loan is 15 years
  • The loan amount for each year is repayable in 12 equated monthly instalments, with the first instalment becoming due after the end of moratorium period
  • The moratorium period for this loan is course duration + 12 months

Security Needed

  • This is an unsecured loan, i.e. no security is needed


  • The applicant must be an Indian national
  • The student should have gained admission into a recognised higher study course one of the listed premier educational institutes in India through Entrance Test or Merit-based Selection process

Eligible Courses

  • All regular full-time degree and diploma courses in 8 premier institutes in the country

Borrower Contribution to Total Cost (Margin Money)

  • The bank does not charge margin money on this loan

Note: Margin money refers to the amount the borrower contributes to the overall amount required. Suppose a course costs Rs. 10 lakh and the borrowers have to provide a 10% margin, then they will have to contribute Rs. 1 lakh to the overall cost while the lender bank offers the rest.

Processing and Other Charges

  • There are no processing charges on this loan

Uses of the Loan

  • Course, examination, library and laboratory fees
  • Cost of books, stationery, equipment, instrument, journals and uniforms
  • Caution deposit, building fund or refundable deposit required by the institution
  • Hostel or boarding fees or reasonable charges of private hostel or PG accommodation, etc.
  • Cost of computers needed for the course
  • Other expenses such for study tours, project work, thesis etc. needed to complete the course
  • Can be used to pay for insurance premium of Group Credit Life Insurance, if opted for by the borrower
  • But the loan cannot be used to pay off external coaching or tuition fees

Other Features to Know

  • The student’s progress reports may have to be submitted with the bank at regular intervals
  • The loan is disbursed directly to the college, bookseller or publisher, computer seller, and so on and not to the applicant(s)

Documents Needed

  • Application Form duly filled and signed by applicant and/or guarantor along with details of applicant and/or guarantor and family
  • A declaration/ affidavit from the borrower confirming that, no educational loans have been availed from other banks
  • Two Passport Size Photographs of student, applicant and/or guarantor
  • Photocopy of PAN Card of the student that needs to be submitted at the time of application or during the course period
  • Personal Identification Proofs (Any One): Electoral I-Card, Passport, Driving License, PAN Card or Aadhaar Card
  • Residential Address Proof (Any One): Electricity Bill, Landline Telephone Bill, Electoral or Voter ID Card or Passport
  • Admission Letter, Course Details and Prospectus as proof of admission
  • Fee Details with Demand of Fee by the Institution
  • All Proofs of Past Academic Record including Mark Sheets and Certificates
  • For the co-borrower, documents as age, ID, signature, address, employment/business/income proofs are required

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

IMPORTANT: Thousands of smart students and their parents lose lakhs of money every year by choosing a costlier education loan.

Apply for Education Loan Only After Finding the Best Education Loan Using Our Guide

India’s First Education Loans Guide Now at Rs 49 ONLY (same price as soft drink)

Here is what the Guide offers:

  • Coverage of All Education Loans from Top Public and Private Banks
  • Compare interest rates for each loan, max. loan amount, max. unsecured loan amount, fees and charges, etc.
  • Loan for regular studies in India, foreign studies, professional studies, aviation, shipping, PhDs, etc.

Find all-important details before you visit the branch using our Guide to Education Loans.

Don’t lose money on excess interest payments to banks. Click Here to Buy the Education Loan Guide.

For any other loan including personal loan, business loan, gold loan, car loan, home loan or loan against property, click here: APPLY FOR A LOAN