UCO Bank Personal Loan

• You can avail loan amount up to 10 times of your Gross Monthly Income, subject to a maximum of Rs. 10 Lakhs.
• Personal loans are available for pensioners as well.
• You can repay the borrowed amount within tenure of up to 60 months.
• The personal loan interest rate is 10.95% p.a.
• The processing of 1% of the loan amount, minimum Rs. 750, is levied.

UCO Bank personal loans are considered among the best in the industry because:

• You can get loans for any personal use including weddings and social obligations, debt repayment or even travel expenses.
• Low personal loan interest rates.
• Loans can be availed without furnishing any collateral or security.
• Insurance is not mandatory for the loan.
• Presence of agencies and correspondents across the globe.
• They have one of the largest and most diverse client bases today.
• Their overseas operations are profitable and dynamic.
• The bank offers various personal loan schemes, such as UCO Cash, UCO Pensioner Loan, UCO Securities and Gold Loan Scheme.

UCO Bank offers several personal loan options based on your employment status, income and other parameters. The different loan options available are:

UCO Cash

• Purpose: This loan is available for any legitimate personal expense including financial liabilities, medical treatments, wedding or other social obligations.
• Amount: You can get up to 10 times your gross monthly income or a maximum of Rs. 10 Lakhs as the loan amount.
• Tenure: The repayment period is a maximum of 60 months.
• Collateral/Security: No collateral is required.
• Rate of interest: UCO Bank Interest rate is 10.95% p.a.

UCO Pensioner

• Purpose: The loan is available for medical expenses, traveling expenses, marriage expenses, payment of MediClaim premium, refurbishing a house, agricultural needs and funeral requirements.
• Amount: The quantum or maximum loan provided is as follows:
  • For any pensioner having family pension and if the spouse is alive: 10 times the current monthly pension subject to maximum Rs. 5 Lakhs for applicants aged up to 70 years and Rs. 4 Lakhs for applicants aged above 70 years up to 72 years.
  • Family pensions who are receiving pension after the death of the pensioner/ Pensioners without the provision of family pension/ Pensioners whose spouse is pre-deceased: Up to 10 times the current monthly pension subject to a maximum loan amount of Rs. 3 Lakhs.
• Tenure: The maximum repayment tenure is 48 months provided that the loan is fully repaid by the time the borrower is 72 years old.
• Rate of interest: Ranges between 9.55% to 10.55% p.a.
• Prepayment: Allowed with no prepayment charges.
• Collateral/Security: Guarantee is required as follows:
  • Personal guarantee of the spouse who is eligible to receive the pension in case of the death of the pensioner.
  • If the spouse is pre-deceased, guarantee of the son or daughter or third party.
  • In case of any widow or war widow where the co-borrower is not available, third party guarantee with sufficient income may provide guarantee.

UCO Shopper Loan Schemes

• Purpose: This is an easy finance scheme available for a customer to make various purchases such as refrigerators, television, computers, air conditioners and other electronic gadgets.
• Amount: Borrower can get up to 10 times the monthly take home salary subject to a maximum of Rs. 2 Lakhs.
• Margin: 20% of article cost
• Tenure: Maximum repayment period of 60 months.
• Prepayment: Allowed with no prepayment charges.
• Rate of interest: Ranges between 8.455% to 9.45% p.a.

UCO Securities

• Purpose: A credit facility is provided against any government or RBI issued financial security for personal use
• Margin: Based on the discontinued value of the maturity proceeds of the financial security provided at the base rate.
• Type: You can get an overdraft, demand loan or cash credit.
• Tenure: Remaining period of the maturity or a maximum of 5 years.
• Rate of interest: 10.55% p.a.

Gold Loan

• Purpose: This loan is available in rural, semi-urban and metropolitan areas for priority sector activities such as education, small business, retail trade, agriculture, housing and more.
• Margin: 25% margin is to be maintained over the price of gold in the market.
• Amount: Maximum loan amount sanctioned depends upon the price per gram of gold which is decided by the Head Office fortnightly. Gold ornaments must be appraised by a reputable and experienced gold smith for weight, fineness and purity
• Rate of interest: 8.50% p.a.

Also, Know UCO bank Balance check number service offered by the bank.

The personal loan processing fees depend upon the type of loan you are applying for. The details are as follows:

 Documentation Charges for all Retail loans except home loans:

The UCO Bank Personal Loan EMI can be calculated with our online Personal Loan EMI Calculator by entering the loan amount, tenure and interest rate.

Here is an illustration using MyMoneyMantra Personal Loan EMI Calculator:

Loan amount availed: Rs. 5 Lakhs

Interest Rate: 10.95% p.a.

Tenure: 5 years

EMI to be paid: Rs. 10,636

Total interest to be paid: Rs. 1,38,150

Total loan amount to be paid to the lender: Rs. 6,38,150

Below is the complete amortization schedule for the above illustration:

The UCO Bank Personal Loan eligibility criteria vary as per the loan scheme chosen. The different eligibility criteria are as follows:

For any personal loan with UCO Bank, the documents required are as follows:

• A duly filled and signed application form with two recent photographs.
• Proof of Identity: Any 2 of the following but one of the first 5 documents mentioned below is mandatory:
  • Ration Card
  • Voters ID
  • PAN Card
  • Passport
  • Driver's License
  • Office ID Card
  • Birth Certificate
  • School Leaving Certificate
• Bank passbook or statement for the last 6 months.
• Proof of employment or income, including:
  • Employment verification certificate as per UCO Bank Format
  • Salary Slip for the last three months.
  • Form 16
  • IT Returns/ Assessment Order
• For take over loans:
  • Statement of the loan account with the other institution.
  • Copy of the sanction advice provided by the institution.

For all complaints and grievances, you will have to register your complaint or grievance online on www.ucobank.com. Fill in the details in the form as required and submit. You can also track the status of your complaint after submission.

Corporate Office

UCO Bank Head Office,

10, BTM Sarani, Kolkata- 700001,

West Bengal India.

You can get contact details of all zonal offices on www.ucobank.com.

Supreme Business Park, Floors 5 and 6 B Wing, Powai,

Mumbai- 400076

Also check , Other Personal Loan Customer Care