UCO Bank - Educational Loan for Students

[Kalyan]

UCO Bank - Educational Loan for Students
     
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

• 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

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 of loan

• Need based finance subject to repaying capacity of parents/students with following ceilings :
• Studies in India : Maximum Rs. 7.50 Lac
• Studies Abroad : Maximum Rs. 15 Lac.

Repayment

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.