UCO Bank Education Loan

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The education loan scheme of UCO bank is supposed to be a helping hand for those meritorious Indian students who want to pursue higher education in either India or in abroad.

Bank Name	Amount of Loan	Repayment Tenure	Interest Rate
	10 - 20 lacs	15 years	11.95 - 12. 20 %

Eligible Courses

Studies in India:

The graduation courses which may lead to a graduation degree to the candidate pursuing these courses include B.A., B.Com. And B.Sc. etc.
The courses in India which can lead to the master degree
The course of Ph.D. is also included in it.
The UCO bank does also provide education loan to the student who has secured admission in the professional course like engineering, agriculture, medical, veterinary, computer, management and dental etc.
The courses of computer certifications affiliated from any one of the university or department of electronics.
CA, ICWA and CFA like courses

Studies abroad:

Only job oriented technical / professional graduation courses. The course should be offered by some of the reputed foreign university.
MS, MBA and MCA like post-graduation courses
Course from CPA, US or CIMA, London

Expenses that can be considered for granting loan

The fee for course which is considered is given below.

Hostel fee / college fee to be paid for the course
Library fee / examination fee / laboratory fee etc.
Expenses considered for other required things like purchasing of equipment / books / study material and instruments
The fund required for the thesis / research / project work.
The expenses for travel and passage in case if the student lives and study abroad
The expenses which are considered necessary for the student as prescribed by the university authorities

Amount of loan granted

10 lakhs maximum for studying in India and
20 lakhs maximum for studying abroad

Interest rates

Interest rate is subject to change as per the rules of the bank and reserve bank of India. But the current rates are 12.20 upto 7.50 lacs and 11.70 for more than 7.5 lacs.

Processing fee

There is no service charge or processing fee is taken from the applicant / student for granting loan

Repayment tenure

After completion of moratorium period the repayment period starts which generally lasts for 15 years of time.
Moratorium period is one year later to the completion of course or 6 month of job later to completion of course.

Security

No security is taken for the loan of amount up to 4 lakhs
Third party guarantee security is taken for the loan of amount greater than 4 lakhs and less than 7.5 lakhs
Collateral security of appropriate value for loans of more than 7.5 lakhs

Margin

Nil – up to 4 lakhs
Margin percentage for loan of amount greater than 4 lakhs is given below
5 % if the student studies in India
15 % if the student studies abroad

Required Documents

Completely filled application form
Proof of admission in any one of the courses which are eligible for education loan
All the documents of the student from the past academic background
Other proofs like address and Identity.

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K.R. Mangalam University, Gurgaon