This bank provides best education loan in India.

Pulkit Jain

“Education is the primary right of every citizen of India” everybody knows it but when a child grows and passes higher secondary education at that time this “Primary right” remains a dream for millions of students in India. According to the 2011 census report 74.05 % Indians are literate but only 8.15 % of Indians are graduates. And the biggest reason behind this weak growth of Academic literacy is lack of finance available with families of students. Govt. of initiated many credit programs for Academic students under which many banking & non banking corporations are working. But there is one banking institution in our nation which is very concerned about young Indians’s academic future i.e. UCO BANK .

Serving from the last 78 years , UCO Bank has now 3078 branches in all over India. As Covid 19 pandemic hit our nation very badly which brought enormous loss to Indian economy. But if anybody has borne or still bearing serious loss in our nation that is the Education Industry & Students . Mainly those students who are willing to pursue Academic education but due to lack of funds they could not or can not. But now young Indians don’t need to worry anymore because for them UCO BANK brought Academic Education loan schemes at 2.40 % rate of interest. You read it absolutely right, only 2.40% flat rate of interest. UCO BANK’s BANUR branch is generating awareness about this scheme of bank at every corner of Banur town ( District- S.A.S Nagar , Punjab).


Q1. How many courses are covered in it ? & Will it cover abroad studies ?

Answer : If you want to pursue academic education in India than following of courses are covered in this loan scheme :-

Approved courses leading to graduate/post graduate (Masters & PhD. degree and PG Diplomas conducted by recognized colleges/universities, Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc.).

Computer Certificate courses of reputed institutes accredited to DoE.

Courses like ICWA, CA, CFA, etc.

Yes ! It covers studying abroad too. following programs are supported by this loan scheme :-

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.

Q2. Till what age can I apply for this scheme ?

For Graduation :
28 years for general candidates.
30 years for SC/ST candidates.
For Post Graduation:
30 years for general candidates.
33 years for SC/ST candidates.

Q3. How much is available under this loan scheme ?

Studies in India : Maximum Rs. 10.00 Lac.
Studies Abroad : Maximum Rs. 20.00 Lac.

Q4. What are the conditions of UCO Bank ?

You have to fulfill these two easy conditions.
1. Student must be an Indian Citizen.
2. Secured admission to a higher education course in India or entrance test or selection process after completion of higher secondary education (10 plus 2 or equivalent).

Q5. Do I need to deposit any security ?

For loan upto Rs.7.50 lac – Co-obligation of Parents is needed only. – No any Security or third party guarantee is needed .

All the loans upto Rs. 7.50 lacs under UCO Education loan Scheme should be covered under Credit Guarantee Fund Scheme for Education Loan (CGFSEL).

For loans above Rs. 7.50 lac – Co-obligation of parents is required and candidate has to mortgage tangible collateral security equivalent to full value of loan.

Q6. What is the rate of interest on loan & is there my processing fee ?


Upto Rs 7.5 lacs :- UCO Float Rate + 2.40%.
Above Rs 7.7 lacs :- UCO Float Rate + 2.80%.

Q7. What is the repayment period ?

You have to repay loan within 15 years in 180 EMIs for all categories of studies after moratorium period.

We provide moratorium period from Years of course + 1 year after course.

And if you still have so many questions dancing in your brain then Visit UCO Bank’s Banur branch . Address : 24, NH 64, Hawali Bassi, Banur, Punjab 140601
Timings 10:00 AM to 2:00 PM
For more information visit

Print Friendly, PDF & Email