UCO Super Premier Educational Loan Scheme in India


Providing financial support at preferential terms to students who have secured admission in 8 premier educational institutes in the country.

Eligible Institutes
1. Indian Institute of Management, Ahmedabad 
2. Indian Institute of Management, Bangalore 
3. Indian Institute of Management, Kolkata 
4. Indian Institute of Management, Indore 
5. Indian Institute of Management, Lucknow 
6. Indian Institute of Management, Kozhikhode 
7. Xavier Labour Relation Institute, Jamshedpur 
8. Indian School of Business, Hyderabad

Courses Eligible
Regular full-time Degree/ Diploma courses.


Minimum Age
Age limit for General - 38 yrs.
Age limit for SC/ST - 40 yrs.

Quantum of Finance
Maximum loan amount Rs. 30 lacs (inclusive of group credit life insurance premium).


Moratorium Period
Course period + 1 year after completion of study.

Rate of Interest
MCLR of 1 Year
a. Simple interest to be charged during the Repayment holiday/ Moratorium period. 
b. Servicing of interest during moratorium period is optional. Accrued interest will be added to the principal amount borrowed while fixing EMI for repayment. 
c. Penal interest @2% p.a. to be charged on overdue amount for the overdue period only for limits above Rs. 4 Lacs. 

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