Following are the key features and benefits of UCO gold loan:
UCO Bank gold loan interest rates are linked to UCO Float Rate, which is currently 7.30%. The interest rates on UCO gold loan depend on the scheme code and margin offered by the customer.
|Margin Offered||Scheme Code||Spread||Rate of Interest|
|25%||L804R||UCO Float Rate of 7.30% + 0.60%||7.90% p.a.|
|30%||L804T||UCO Float Rate of 7.30% + 0.40%||7.70% p.a.|
|40%||L804U||UCO Float Rate of 7.30% + 0.10%||7.40% p.a.|
Documents required for gold loan at UCO Bank are mentioned below:
You can calculate your UCO gold loan amount eligibility using the gold loan calculator tool. This tool can be found on the official websites of various gold loan providers. To calculate the maximum loan amount eligibility, you just need to enter the gold type you are pledging, the total weight of the gold, and its caratage. The tool may also sometimes require you to enter the repayment tenure. On entering these details, the tool will calculate the maximum loan amount eligibility and display it on the screen instantly.
Below is the comparison of the UCO Bank gold loan with the gold loan schemes of other banks. You can check the best gold loan bank India before applying for the loan:
|Bank||Rate of Interest (p.a.)||Loan Amount||Processing Fee||Tenure|
|UCO Bank Gold Loan||7.40% - 7.90% p.a.||No upper limit||Up to 0.20%||Decided by the bank|
|PNB Gold Loan|
|Rs. 25 000 to Rs. 25 Lakhs||0.30% or Rs. 500 + GST, whichever is higher||Up to 12 months|
|Bank of Baroda Gold Loan||9.20% - 9.30%||Up to Rs. 25 Lakhs||Up to 0.50% + GST||1 year - 3 years|
|Canara Bank Gold Loan||13% onwards||Rs. 5,000 - Rs. 35 Lakhs||1%||6 months - 1 year|
|HDFC Bank Gold Loan||7.60% - 16.81%||Rs. 25,000 onwards (Rs. 10,000 onwards in rural markets)||1%||3 months - 2 years|
|SBI Gold Loan||8%||Rs. 20,000 - Rs. 50 Lakhs||Nil till 31.01.2023||Up to 3 years|
|Indian Bank Gold Loan||8.25% onwards||No upper limit||0.50%||Up to 35 months|
|ICICI Bank Gold Loan||10% - 17.95%||Rs. 50,000 - Rs. 1 Crore||1%||6 months - 1 year|
|Kotak Mahindra Bank Gold Loan||8% - 17%||Rs. 20,000 - Rs. 1.5 Crores||Up to 2% + GST||Up to 4 years|
|Axis Bank Gold Loan||17% - 19%||Rs. 25,001 - Rs. 25 Lakhs||Up to 0.50%||6 months - 3 years|
Following are the fees and charges associated with availing of UCO Bank gold loan:
For further details about UCO gold loan fees and charges, contact the nearest UCO Bank branch.
You can contact UCO Bank’s Toll-Free Number 1800 103 0123, for any queries regarding the UCO gold loan.
Rupeek Gold Loans are instant secured loans with no EMI option at interest rate starting at 8.88% p.a. You can avail of emergency loan ranging from Rs 50000 to Rs 20 Lakhs against gold jewellery, coins & ornaments. With bullet repayment option you repay entire loan at the end of the tenure.
UCO Bank per gram gold rate today for loans is Rs. 2,900 to Rs. 3,450.
Yes, UCO Bank offers gold loans to borrowers in rural/ semi-urban/ urban/ metropolitan areas to provide them with easy and instant credit facilities for priority sector activities like agriculture, small business, retail trade, education, housing, micro & small enterprises, etc.
Applicants who meet the following gold loan eligibility criteria are eligible for UCO gold loans:
The margin requirement for a UCO gold loan is as follows:
|Margin Offered||Scheme Code|
The borrower must provide gold ornaments, jewellery or coins as security after they are apprised by an experienced goldsmith for its weight, purity and fineness. For this purpose, a goldsmith with a good reputation for his professional skills and undoubted integrity should be identified by conducting discreet enquiries.
No, there is no limit on the maximum amount of loan. The maximum amount of UCO Bank gold loan that can be sanctioned per gram of standard gold is decided by UCO Bank’s Head Office fortnightly and is then communicated to the zones/branches.
The repayment tenure and due date for the UCO gold loan are predetermined by the bank depending on the loan’s purpose. You can choose to make bullet repayments for the principal amount. Interest rates for loans for agricultural activities and crop loans can be relaxed.
Borrowers can prepay the UCO gold loan without any foreclosure charges.