Public sector bank
UCO Bank
UCO Education Loan
Students who bank with UCO and want the IBA structure.
Check UCO eligibilityIBA model terms. The live card rate has to be confirmed with the bank.
What to know
- Standard public-sector margin, moratorium, and 15-year repayment.
- Collateral is required above ₹7.5 lakh on the regular scheme.
- Check the premier-institute circular before assuming the floor rate.
Terms
- Interest
- Repo-linked
- Maximum
- Need-based. Premier lists go higher than the standard IBA caps.
- Without collateral
- Up to ₹7.5 lakh on the standard scheme. Premier institutes may be higher.
- Tenure
- Up to 15 years after the moratorium
- Processing fee
- Often nil for studies in India. Abroad files may carry a fee.
- Margin
- Nil up to ₹4 lakh. Above that, usually 5% for studies in India and 15% for studies abroad.
- Moratorium
- Course period plus up to 12 months
- Girl student
- Many public-sector schemes give girl students 0.50%. Confirm it is written on the sanction.
- Typical speed
- About 2–4 weeks
- Covers
- India and abroad
Eligibility
- Indian national, or an OCI where the lender allows it, with an admission offer.
- A co-applicant, usually a parent or guardian.
- Acceptable credit on the co-applicant for anything above the unsecured cap.
Documents
- Admission letter or college allotment, plus the fee structure.
- KYC for the student and co-applicant: PAN, Aadhaar, and passport-size photographs.
- Academic records: Class 10, Class 12, and degree marksheets.
- Co-applicant income proof: salary slips or ITR, and six months of bank statements.
- Collateral papers only when the loan is above the unsecured limit.
The bank or NBFC sanctions the loan. This page is a briefing so you can compare, not an offer.