UCO Bank Education Loan - Eligibility and Interest Rates (2025)
Ever dreamt of excelling academically but struggle with finances? A UCO Bank Education Loan can help you achieve your academic and career aspirations!
This complete guide covers everything about UCO Bank Education Loan types, including key features, eligibility criteria, required documents, and more.
UCO Bank Education Loan Overview
College can get expensive, and it's not always just tuition that hurts your wallet. Rent, groceries, books, and other fees can add up quickly. That's where UCO Bank Education Loan steps in.
It is also super convenient to get this loan as the application process is 100% digital.
Here's what the loan covers.
1. Fees for the course, examination, library, and laboratory
2. Books, stationery & equipment, instruments, journals, and uniforms
3. Travel expenses and passage money for studies abroad
4. Purchase of computer (if essential for the course)
5. Boarding cost and hostel charges
6. Any other expenses related to your studies
With UCO Bank Education Loan, you can focus on what truly matters - getting your degree and achieving your academic and professional goals!
Also read: Bank of Baroda Education Loan - Eligibility & Interest Rates
UCO Bank Education Loan Interest Rate 2025
UCO Bank gets it - financing your education shouldn't break the bank! That's why they offer competitive interest rates and loan options that fit your needs.
Here's a table overview of UCO bank education loan interest rate.
Alongside understanding the current UCO Bank education loan interest rate, make sure you also review the education loan eligibility and application details to ensure a seamless and successful loan process.
Lets see what these types are:
Types of UCO Bank Education Loan
Here's a list of different types of education loans available at UCO Bank.
*Please Note: The moratorium period in an education loan is a pause on repayments. It's like a time-out after you graduate where you don't have to make the regular payments yet. Interest on the loan keeps adding up during this time and gets added to your total amount to repay later.
Also read: Education Loan Moratorium Period - All you need to know!
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UCO Bank Education Loan Calculator
Understanding your Equated Monthly Instalment (EMI) for your UCO Bank education loan is crucial for effective financial planning and expense management. You can use the UCO Bank Education Loan calculator to easily determine your EMIs.
For instance, if you wish to apply for an education loan of INR 30,000 at an annual interest rate of 10.90% for around 12 months, then the estimated EMI would be around INR 2777.6 for 12 months. At the end of your loan period, you would have paid an interest of INR 3,331.2, making the total payable amount INR 33,331.2.
Features of UCO Bank Education Loan
The following are some general characteristics of UCO Bank education loans.
Advantages of UCO Bank Education Loan
Now that you know the key features of the UCO Bank Education Loan, continue reading about its advantages. UCO Bank has designed this loan to make financing your higher education as smooth as possible.
Here's why it is a great option for you.
1. Fast decisions
UCO gets your application moving quickly, so you don't wait around for an answer. Their wide network, streamlined documents, and digital tools have made applying easier.
2. All digital, all easy
UCO's application is completely online. Just provide your PAN and Aadhaar details, and if you meet the eligibility, the funds can be deposited straight into your account.
3. Competitive rates
UCO's interest rates are tough to beat, starting as low as (8.50%). This means you'll owe less money in the long run.
4. Potential tax benefits
While the loan itself might not offer tax breaks, as you will be using the money for education, you might qualify for deductions under Section 80E of the Income Tax Act. That means you could save money on your taxes!
Also checkout: HDFC Education Loan - Eligibility & Interest Rates (2024)
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How to Plan a UCO Bank Education Loan for Higher Education?
This step-by-step guide will show you how to make the most of a UCO Bank Education Loan and turn your academic dreams into reality!
Step 1: Estimate Your Costs
Calculate all expenses: tuition, travel, books, visa, and living costs. Know exactly how much you need before applying.
Step 2: Plan Repayment
Choose a repayment period that suits your budget. Longer terms mean lower EMIs but higher interest. Find a balance that works for you.
Step 3: Check Eligibility
Visit UCO Bank’s official website to see if you qualify. Check age, academics, and course requirements.
Step 4: Apply Online
Apply directly on the UCO Bank portal. It’s faster and requires less paperwork than visiting the branch.
Step 5: Use Loan Smartly
Use the funds for tuition, fees, and living expenses. Stay focused on your studies and career goals.
UCO Bank Education Loan Eligibility Criteria
Here are the eligibility requirements that you need to check before you apply for an Education Loan from the UCO Bank.
1. You should be an Indian citizen.
2. You should have a good academic record
3. You should at least be a 10+2 diploma holder
4. You should have completed essential exams like IELTS, TOEFL, GMAT and GRE if you are looking to study abroad.
5. The university you chose should be among the top 1,000 universities
6. Your maximum age should be as mentioned in the table below
UCO Bank Education Loan College List
Both the UCO Utkarsh and Udaan Loan Schemes have specific requirements regarding loan disbursement. These schemes have a pre-approved list of institutions where admission is mandatory to qualify for the loan.
The loan amount and interest rate depend on the category (A, B, or C) assigned to your chosen institution.
Here is the UCO bank education loan college list A, B, and C.
Let’s also check how UCO Bank’s list of approved colleges compares—review the SBI-approved college list for comparison with UCO Bank to see coverage differences and overlaps.
Please Note: We have mentioned only 10 institutions from each category. It is important to remember that each category (A, B, and C) includes a significant number of colleges, which can be checked from UCO Bank’s official website.
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Documents Required for UCO Bank Education Loan
To land your UCO Bank Education Loan, you'll need to gather some documents to prove you're a good fit. These documents help UCO Bank get a clear picture of your eligibility, finances, and academic background.
Here's the list of documents that you need.
Also checkout: SBI Education Loan - Eligibility and Interest Rates (2024)
How to Apply for a UCO Bank Education Loan?
Now that you know how UCO Bank's education can support your studies without compromising quality, let's learn how to apply for the UCO Bank Education Loan.
You may follow these easy steps to apply for an education loan offline and online.
Offline
1. Step 1: Arrive at your nearest UCO branch with the required paperwork.
2. Step 2: Ask for the application form and get any queries cleared from the bank loan team.
3. Step 3: Complete and submit the application form
Online
1. Step 1: Visit the UCO Bank's official website
2. Step 2: Go to the section on Education Loans
3. Step 3: Select your lending option
4. Step 4: Click 'Apply Now'
5. Step 5: Input all required details and register
6. Step 6: Apply for the loan.
7. Step 7: A representative from the bank will contact you
Minimal Documentation. Higher Chances of Approval. Easy Online Processes. Check Your Eligibility.
UCO Education Loan Repayment Process
Repaying your UCO Bank Education Loan is designed to be stress-free! The Bank understands that you need time to focus on your studies first. That's why you won't start repaying until after your graduation and the end of the moratorium period.
Plus, you'll have up to 15 years in most loan schemes except UCO skill loan to pay back the loan in manageable monthly instalments (EMIs). These EMIs take into account any interest that builds up while you're in school, so there are no surprises.
And the best part is that you can even prepay the loan anytime without any penalty if you come into some extra cash!
UCO Bank Education Loan Disbursement Process
Did you know? By 2025, UCO Bank has disbursed education loans worth over ₹17,000 crore! This huge number shows how education loans empower students to achieve their dreams.
Getting your UCO Bank education loan disbursed is simple:
1. Once your loan is approved, just sign the agreement.
2. The loan amount is then directly credited to your university, covering tuition, hostel, and other academic fees.
Whether you are studying in India or abroad, a UCO Bank Education Loan can be the key to fulfilling your academic goals. It’s fast, secure, and hassle-free!