Education and Career Forum

Hi friends, I want to know about the details of the education loan scheme for my ICSI course in UCO Bank. I am going to apply for ICSI course, I am already graduate and I need to get an education loan for this course. Kindly let me know about UCO Bank education loan scheme for this course.

Details of UCO Bank for pursuing ICSI course are mentioned below :-

--> Eligibility :- You should have secured admission to ICSI course in a Government recognised institute.

--> Processing Charges :- Nil

--> Maximum amount of loan :- Rs. 10 lakhs

--> Margin :- Nil, upto Rs. 4 lakhs.
Above Rs. 4 lakhs, 5% for studies in India and 15% for studies in Abroad.

--> Rate of interest :-
Upto Rs. 7.5 lakhs :- MCLR + 2.00%
Above Rs. 7.5 lakhs :- MCLR + 2.40%.

The education loan details of UCO Bank for studying ICSI course are detailed below :-

=> Eligibility :- You should have secured admission to ICSI course in a Government recognised institute and you should be an Indian National.

=> Age Limit :- 30 years for General and 33 years for SC/ ST candidates.

=> Quantum of Finance :- 10 Lakhs

=> Margin :- Nil upto Rs. 4 lakhs, Above Rs. 4 lakhs :- 5% for studies in India and 15% for studies in Abroad

=> Security :-
1. For loan upto Rs.7.50 lacs :- Co-obligation of Parents.
No Security or third party guarantee.
2. All the loans upto Rs. 7.50 lacs should be covered under Credit Guarantee Fund Scheme for Education Loan (CGFSEL).
3. For loans above Rs. 7.50 lacs :- Co-obligation of parents, tangible collateral security equivalent to full value of loan.

=> Repayment Holiday :- Course Period plus one year after completion of studies.

=> Repayment Tenure :- 15 years after moratorium period.