UCO Bank Education Loan For Abroad

    Updated on: 25 Oct 2023 7 min read

    UCO Bank Education Loan For India and Abroad 

     

    Did you know that over the last 10 years, there has been a threefold increase in the number of students obtaining education loans for studying abroad from public sector banks? Similarly, the sanctioned loan amounts have also witnessed a sixfold rise during this period, with a total amount of about 7,500 Cr INR. UCO Bank has also been one of the public banks that contributed to this growth. For the fiscal year 2021-2022, UCO Bank sanctioned about 43 Cr INR, making it a considerable choice for obtaining a secured education loan. Let’s have a look at different aspects of UCO Bank and explore what makes it a good choice.

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    Frequently asked questions

    What is the maximum amount of loan that I can get from UCO Bank?

    You can get up to 30 Lakh INR in case your target university comes under the World's top 150 universities as per this website www.webometrics.info. Apart from it in case your target university is not on the list then you can get up to 20 Lakh INR. 

    Is UCO Bank a government or private bank?

    UCO Bank is a commercial bank that operates as a government entity under the jurisdiction of the Government of India.

    At what locations in India can I avail UCO Bank education loan?

    Students can apply for a UCO Bank education loan at any branch in or near his/her place of domicile.

    How much time does it take to get my loan approved from the UCO Bank?

    You can get your loan approved via UCO Bank in about 15-20 working days once all the documents have been submitted to the bank officials. 

    How much interest rate is charged by the UCO Bank for abroad education loans?

    The interest rate for the UCO Bank can range between 10.85% - 12.10%. The interest rate that you can get depends on the application profile, eligible scheme, targeted university/college, country, and more.



Whatsapp image 2023 03 15 at 9.53.55 am
Written by Rohit Gidwani

Meet Rohit, an expert in the field of study abroad and Ed-tech with many years of professional experience in content creation and creative writing. Being a BBA graduate has helped him to pursue his professional duties strategically and with creativity.


Specializes in:
Loan without collateral

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Reviewed by Aman Jain

Aman Jain graduated from IIT Kanpur, and currently functions as the CMO at GyanDhan. He is deeply passionate about creating equality in higher education and has directly interacted with 2 Lakh students in his 8-year-long journey.


Specializes in:
Education loan , Study Abroad Admissions


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GyanDhan is India's first education financing marketplace.



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