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Uco Bank Personal Loan Details With Interest Rate

Kindly Check Complete Details For Uco Bank Personal Loan.


Uco Bank
Personal Loan
11.60%-11.35%
1%
Upto 10 lacs
Upto 60 months
Full Details for Uco Bank Personal Loan
Uco Bank Personal Loans Types UCO Cash

To extend financial assistance for any legitimate purpose whatsoever (e.g. expenses for medical treatment, meeting any financial liability, marriage, Social obligation etc.)

Eligibility

  • A confirmed employee in Govt. / Semi-Govt. / Reputed Public / Private Ltd. Co. /College / Universities / Public Sector Undertaking or applicant should be a permanent employee or have completed minimum 2 years of service in the same organization and applicant must have salary account with our branches or employer of applicant provide undertaking that monthly loan installment will be recovered and directly paid to bank.

Income Criteria

  • Net take home pay should not be less than 40% of gross salary after deduction of PF, IT and other statutory deductions including proposed EMI of UCO Cash Loan, loan granted by his employer and any other loans, if any. Subject to minimum Rs 10000/-.
  • Other income like rent, interest, dividend etc. may be taken into account for reckoning the eligible quantum of loan subject to documentary evidence.

Quantum of loan

  • Maximum loan amount Rs.10 lacs.

Security

  • No collateral security required.

Insurance

  • UCO Rin Jeevan Suraksha to cover the outstanding loan in case of accidental or natural death of borrower

Rate of Interest

  • For Men :- MCLR of 1 Year + 3%, 11.60% at present.
  • For Women :- MCLR of 1 Year + 2.75%, 11.35 at present.

Repayment

  • Maximum in 60 monthly installments.

Processing Charges
1% of loan amount (minimum Rs.750/-)

UCO Pensioner

Short Term loan is extended through this scheme to Pensioners who receive pension through our Branch. War widows and widows drawing family Pension through our Branch are also eligible provided there is another co-borrower of sufficient means.

Purpose

  • For meeting medical expenses for self/spouse/dependent/children.
  • Payment of medi-claim premium for self & dependents.
  • Meeting marriage expenses in the family.
  • Educational expenses of dependent children
  • Traveling expenses.
  • Repairs to house property/dwelling.
  • Funeral expenses.

Quantum of loan

  • For Pensioners having provision of family pension & Spouse is alive:
  • 10 times of monthly pension subject to:
  • Maximum Rs. 5.00 lacs for age up to 70 years
  • Maximum Rs. 4.00 lacs for age above 70 years to 72 years

For the following Categories of customers:

  • Family pensioners i.e. Spouse receiving pension after death of the Pensioners.
  • Pensioners without family pension provision
  • Pensioners where spouse is predeceased.
  • 10 times of monthly pension subject to maximum of Rs. 3 lacs

Processing Charges
There is no processing charge or service charge.

Rate of Interest
MCLR of 1 Year + 4.15%

Repayment

  • Maximum in 36 monthly installments.
  • Repayment should be so fixed that the loan is fully repaid before the pensioner reaches 72 years of age.
  • Prepayment Charge
  • No pre-payment charge is levied.

Guarantee

  • Personal Guarantee of spouse eligible to receive family pension in the event of death of the pensioner.
  • Where spouse is predeceased, personal guarantee of sons/daughters or a third party.
  • In case of war widow/widows if co-borrower is not available, a third party guarantee having sufficient income
UCO Shopper Loan Scheme

An easy finance scheme for purchase of consumer durable such as Television, Refrigerator, Air Conditioner, Computer or any other Electrical or Electronics gadgets etc.

Eligibility
Existing customer of UCO Bank for a minimum period of six months
A self-employed/Professional/Businessman or A permanent employee of Govt. / Semi Govt./PSU/Universities or reputed private concerns with minimum service of 1 year and minimum remaining 5 years service period.

Income Criteria

Salaried borrower

  • Minimum gross salary of Rs.30000/-p.m at Metro Centres and Rs.20000/-p.m for other Centres.
  • Minimum take home income of 40% p.m. after all deductions and EMI of the proposed loan or Rs.10000/-whichever is higher.

Non-salaried borrower

  • Minimum income of Rs. 4 lac p.aat all centres as per latest IT Return.
  • Minimum 40% surplus after considering EMI of proposed Loan and Income Tax and any other obligations or Rs.10000/- whichever is higher.

Age Criteria

  • Salaried Borrower : 21 to 60 years
  • Non-Salaried Borrower : 21 to 65 years

Amount of Loan
Maximum Loan Amount Rs.200000/- or 10 times of monthly take home pay whichever is less.

Processing Charge
1.00% of the loan amount with Minimum Rs.1000/-

Margin
20% of the total article cost

Repayment
Maximum 60 Equated Monthly Installments.

Rate of Interest
In case of Salary tie-up arrangement or Loan secured by 100% liquid collateral security - MCLR of 1 Year + 1.15%
All other cases - MCLR of 1 Year + 2.15 %

Prepayment Charges
No pre-payment charges.

UCO Securities

Under the scheme credit facilities are extended to borrowers against financial securities issued by Central Govt./State Govt./RBI in the form of National Savings Certificates, Kisan Vikas Patra, Govt. Securities and Relief Bonds. Loans are also available against Life Insurance Policies of Life Insurance Corporation of India and bonds/debentures issued by specific Public Financial Institutions.

Eligibility
The securities should be in the name of the borrower or any one of the joint borrowers.
The securities should be transferable and can be assigned/pledged in favor of the Bank or transferred in the name of the Bank.

Margin
Margin will be on the discontinued value of the maturity proceeds (not the face value) of the financial security discounted at Base Rate.

Nature of Facility
Demand Loan, Overdraft, Cash Credit

Rate of Interest
MCLR of 1 Year + 3.25%

Repayment
Remaining period of maturity (maximum 5 years).

Processing Charges
Rs.250 per case

Gold Loan Scheme

Type of Loan
Demand Loan

Objective/Purpose
To enable Borrowers in Rural/ Semi-urban/Urban/Metropolitan areas to avail of easy and instant credit facilities for the purpose which are categorized as Priority Sector Activities like Agriculture, Retail Trade, Small Business, Micro & Small Enterprises, Education , Housing etc.

Eligibility

  • Loan against security of gold ornaments can be made to all Borrowers who would avail such loan for Agriculture & Allied Activities, Activities related to Micro & Small Enterprises, Retail Trade, Housing, Education etc.
  • Necessary declaration from the eligible borrowers will be required to be obtained specifying the purpose of such loan at the time of sanction.

Margin

  • Loan against security of gold ornaments can be made to all Borrowers who would avail such loan for Agriculture & Allied Activities, Activities related to Micro & Small Enterprises, Retail Trade, Housing, Education etc.
  • Necessary declaration from the eligible borrowers will be required to be obtained specifying the purpose of such loan at the time of sanction.
  • A margin of 25% is to be maintained on the market price of the gold.
  • Amount of loan to be sanctioned per Gram of Gold
  • Maximum amount that can be sanctioned per gram of standard gold will be decided by Head Office fortnightly and will be dully communicated to the Zones/Branches .
  • Assess/Testing of Gold Ornaments
  • All gold ornaments before being accepted as security should be apprised by an experienced Gold Smith for its weight, purity and fineness.

For this purpose a Gold smith having good reputation for his professional skill and undoubted integrity should be identified by conducting discreet inquiries.

Rate of Interest

S.No

Purpose

Rate of Interest

1.

Gold Loan (PS) for short term crop Loan upto 3 lacs where interest subvention is available

7% per annum

2.

Gold Loan (PS) for Agriculture & Allied Activities other than short term crop loans mentioned in Sl. No.1 above

MCLR of 1 Year +0.20 %

3.

Gold Loan (PS) for Retail Assets Products

4.

Gold Loan (PS) for Non Agriculture Purpose (Bullet Repayment)

5.

Gold Loans (NPS) for Retail Assets Products

MCLR of 1 Year +3.15 %

6.

Gold Loan (NPS) for Non Agricultural Purpose (Bullet Repayment

Service Charges

(A) For Priority Sector
Up to Rs. 10 Lac : Rs. 250/-
Above Rs. 10 Lac : Rs. 500/-

(B) For Non Priority Sector
Up to Rs. 5 Lac : Rs.500/-
Above Rs. 5 Lac to Rs. 10 Lac: Rs.1000/-
Above Rs.10 Lac @0.20% on quantum of loan subject to a maximum of Rs.5000/-.

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