Total EMI


Total Interest


Total Payments


Break-up of Loan Amount
Created with Highcharts 4.2.2 50,00,000 69,80,559 Total Interest Principal Loan Amount
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About UCO Bank

UCO Bank, also known as United Commercial Bank previously, has a fantastic presence in the eastern part of the country. A significant proportion of its branches are in the North-Eastern states. It is one of the primary reasons why the Government did not merge UCO Bank with any other bank during the recent bank merger exercise in August 2019.

The credit for establishing this institution goes to the noted industrialist, GD Birla. The bank was established in the aftermath of the 1942 Quit India Movement in 1943. The bank attained the status of a nationalised bank on July 19, 1969, along with 13 other banks. The growth of UCO bank commenced after nationalisation. Today, the bank has more than 3000 branches all over the country.

UCO Bank - Products on Display

UCO Bank caters to all sections of society like agricultural, industrial, corporate, and retail segments. It offers a variety of tailor-made products to suit every requirement of its clients. The housing loans, vehicle loans, education loans, and personal loans form the cornerstone of the UCO bank products to the retail segment.

UCO Bank Personal Loan -  Features and Benefits

  • Loans available to meet all kinds of requirements
  • Simplified application procedure with relaxed eligibility norms
  • Attractive rates of interest that compete with the best the industry has to offer
  • Quick turnaround time
  • Transparent fees
  • Flexible repayment tenures
  • Facility to pay loan instalments online
  • Calculate loan eligibility and EMI online

UCO Bank Retail Loan Products -  At a Glance

Loan Product Ideal for Maximum amount Interest rate Maximum tenure

UCO Home

All kinds of home loan requirements

No upper ceiling

8.05% to 8.15%

30 years

UCO Pre-Approved Home Loan

Pre-approved loan before finalisation of property

No upper ceiling

8.05% to 8.15%

The validity of sanction is four months

UCO Top-up Home Loan

Housing repairs and miscellaneous purposes

25 Lakhs


Not linked to home loan but repayable before the borrower reaches 70 years


Purchase of new/second-hand car

85% of the on-road price

8.60% to 10.20%

84 months

UCO Car Loan Combo

Car loan plus home loan

85% of the on-road price


84 months

UCO Two-wheeler Scheme

Purchase two-wheeler

1 Lakh

11.60% to 12.60%

48 months

UCO Property Loan

Business requirements and personal use

2 Crores for individuals

10.35% to 11.35%

144 months

UCO Rent

Business and personal use

70% of the rent receivables

9.35% to 10.70%

120 months

UCO Swabhiman

Supplementing the income of the senior citizen

Depending on the value of the property


As per Reverse Mortgage loan rules

UCO Education Loan

Higher studies in India and abroad

10 Lakhs in India and 20 Lakhs for abroad

10.20% to 10.60%

15 years after the moratorium

UCO Premier Educational Loan Scheme

Higher education in premier educational institutions

30 Lakhs


180 months

UCO Super Premier Educational Loan Scheme

Higher education in specific premier educational institutions in India

30 Lakhs


15 years after the moratorium

UCO Skill Loan

Students willing to take up skill development courses

1.50 Lakhs


Maximum 7 years

UCO Cash

Personal loan to meet own urgent needs

10 Lakhs

10.95% to 11.20%

60 months

UCO Pensioner

Personal loan to pensioners

10 Lakhs

10.35% to 11.35%

48 months

UCO Shopper's Loan Scheme

Purchasing consumer durables

2 Lakhs

9.35% to 10.35%

60 months

UCO Securities

Personal requirements

Depends on the value of the security


Five years

UCO Gold Loan Scheme

Personal and business requirements

75% of the cost of gold jewellery

8.45% to 11.35%

One year

UCO Bank - Services

Today, all banks are gearing up to provide the highest degree of technological services to their customers. Similar to its peer banks, UCO bank has a customer-friendly internet banking platform. It is not only a secure platform but also one of the most convenient to use, as well. Besides, UCO Bank provides different kinds of calculators, the most useful of which is the loan EMI calculator.

UCO Bank  - Personal Loan EMI Concept and Calculation

UCO Bank offers a range of personal loans for various purposes. Personal loans are usually for short-term purposes for up to 60 months. However, UCO Bank provides personal loans against property the repayment of which can extend up to 144 months. The mode of repayment of such loans is through EMI.

The equated monthly instalment or EMI as it is popularly referred to depends on three principal factors.

  • The loan amount The EMI is directly proportional to the loan amount. The higher the amount of loan, the more will be the EMI.
  • The repayment tenure of the loan As the tenure of the loan extends, the amount of EMI reduces.
  • The rate of interest The rate of interest and EMI move in the same direction. As the interest rate moves up, so does the EMI amount.

There is another factor that plays a crucial role in the determination of the EMI. It is the moratorium period that is available on home loans and education loans. The treatment of interest during the moratorium period affects the EMI.

In the case of home loans, the banks usually insist on the borrower to pay the interest debited to the account during the moratorium. At times, the banks can also capitalise the interest. The EMI will vary under such circumstances.

The same is the case in of education loan. The interest is capitalised in education loans. Secondly, the disbursement is in stages. Therefore, the EMI calculation is not possible at the time of sanction of the loan. The banks stipulate a tentative EMI that is subject to change subsequently.

In the case of personal loans, there is no moratorium. Hence, the EMI calculation is a straightforward one. This EMI calculator requires the customer to enter the following information.

  • The principal loan amount
  • The rate of interest
  • The repayment period of the loan in months

Click on Calculate to obtain the EMI. The EMI amount is rounded off to the next higher rupee.

An example of EMI calculation:

  1 Lakh 2 Lakhs 5 Lakhs


10.95% 11.20% 10.95% 11.20% 10.95% 11.20%

36 months







48 months







The calculation reveals the following:

  • As the personal loan amount increases from 1 Lakhs to 5 Lakhs, the EMI increases across the board.
  • As the tenure moves up from 36 to 48 months, the EMI amount decreases in each case.
  • The EMI amount increases when the interest rate goes up from 10.95% to 11.20%.

UCO Bank - Personal Loan Interest Calculation

UCO Bank links the rate of interest on its retail loans with the RLLR (Repo Linked Lending Rate) with effect from October 01, 2019. The RLLR is a market-linked rate that connects to an external benchmark rate, the repo rate.

The Reserve Bank of India announces the repo rates from time to time during its periodical credit reviews. UCO Bank adds an interest spread that depends on factors like the cost of funds for the bank and the net interest margin. This spread can vary from bank to bank. As on date, the spread of UCO Bank is 2.90%. With the repo rate being 5.15%, the RLLR works out to 8.05%.

The individual rate of interest on personal loans further depends on the category of the loan and the borrower. The interest rates applicable to its various personal loans as on date are as follows.

Personal Loan Product RLLR Credit Risk Premium The effective rate of interest

UCO Cash for men




UCO Cash for women




UCO Pensioner General Public




UCO Bank Staff Pensioners




UCO Securities




UCO Gold Loan PS




UCO Gold Loan NPS




UCO Shopper Salary tie-up or 100% liquid security




UCO Shopper Other cases




UCO Bank Personal Loan EMI Calculator - Benefits

The personal loan calculator is a multipurpose utility tool available on the UCO Bank official webpage. The benefits of the EMI calculator are as follows.

  • Calculate your personal loan EMIs within no time
  • It is a useful tool to calculate other loans EMIs, as well.
  • The EMI calculator requires the minimum of data for the calculation of EMI
  • Using the EMI calculator, customers can judge their affordability easily.

At the same time, the UCO Bank Personal Loan EMI calculator has its shortcomings, as well.

  • This EMI calculator is not useful when there is a moratorium period involved in the loan, especially in cases of capitalisation of moratorium interest.

UCO Bank Personal Loan EMI Calculator - Frequently Asked Questions

What will happen to the personal loan EMIs when there is a change in the interest rates?

UCO Bank links the personal loan rate of interest to its RLLR. Whenever there is a change in the repo rates, the RLLR will vary. Therefore, the effective rate of interest on the personal loan will modify accordingly. It will result in an increase or decrease in the EMI amount. The bank will inform you accordingly. However, customers can check out the revised EMI using the personal loan EMI calculator.

How do we calculate the EMI in the case of moratorium-based loans?

The UCO Bank Personal Loan EMI calculator does not have any provision for calculating the EMI in the case of moratorium-based loans. However, other calculators are available on the internet that can help customers to do so.

What is the formula to calculate the EMI manually?

The manual method of calculating the EMI is a complicated assignment. Here is the formula that can help customers to calculate the EMI manually.

EMI = [PXRX(1+R)^N] divided by [(1+R)^N-1]

  • P - Loan amount, also referred to as the principal amount
  • R - rate of interest per annum ( if the rate of interest is 10%, R = 10 / (12 X 100))
  • N - number of monthly instalments

Is there any alternate mode of calculation of the EMI?

Yes, customers can calculate the personal loan using MS Excel tables. The formula is an easy one.

Open your Excel spreadsheet. Choose the respective cell and enter the following,


  • Rate - the rate of interest on the loan
  • NPER denotes the number of monthly instalments
  • PV stands for the present value of the loan, also known as the principal amount

Is the EMI calculator available at an alternate location?

Customers can use the EMI calculator available on the UCO Bank website. Alternatively, they can use the EMI calculator that is available on the MyMoneyMantra website. The principle is the same.

  • Visit the website of MyMoneyMantra
  • Select Financial Tools option
  • Choose EMI calculator
  • Enter the data required to get your EMI

This EMI calculator is better than the one available on the UCO Bank official site. It provides details of the total amount of interest payable on the loan throughout the entire loan tenure. It provides a graphical representation of the principal and interest repayment. However, it does not give the amortisation schedule.

Is the EMI calculator available on the UCO Bank website accurate?

Yes, the EMI calculator provided on the UCO Bank website is an accurate tool to calculate the EMI.

Will I be able to calculate my loan eligibility using the EMI calculator?

No, you cannot calculate your loan eligibility using the EMI calculator. There is a separate tool for estimating loan eligibility known as the loan eligibility calculator. This calculator requires a different set of data.

The tool seeks the following information from the user.

  • The monthly salary or income
  • The details of any existing loans for which the customer is paying the EMI
  • The details of mandatory deductions like PF and so on

The calculator determines the net-take home pay before the calculation of the EMI on the prospective personal loan. Based on this calculation, the loan eligibility calculator arrives at the amount of EMI you can afford. It thus leads to the maximum amount of loan you can borrow.

Will the EMI calculator help to calculate my affordability?

Customers can use the EMI calculator to do a reverse calculation and arrive at the affordable loan amount. However, the loan affordability calculated by the customer will not tally with the amount calculated by the loan eligibility calculator.

When does UCO Bank change the interest rates on the loans linked to the RLLR?

The RLLR connects to the repo rate. However, it does not change immediately with every variation of the repo rate. Reserve Bank of India can change the repo rate at any time. The banks that link their RLLR to the repo rate change the RLLR on the first date of the month following the change in the repo rate.

Which is a better concept, RLLR or MCLR-based interest rates?

The RLLR is a market-linked rate with a great deal of transparency. Customers can calculate the effective rate of interest on their personal loans and home loans by adding the required spread. Compared to the RLLR, the MCLR is a complex calculation. Banks announce their MCLR monthly. However, customers have to refer to the individual bank website to know the MCLR. The changes to the rate of interest on the loans do not happen every month. It occurs on the MCLR reset date. Usually, it is on an annual basis. Therefore, RLLR is a better rate from the customer point of view.