UCO Bank Personal Loan Interest Rates

• Low processing fees and processing fee waivers available for certain loan types
• Competitive interest rates with subsidies for certain borrowers
• Long tenures to enable the customers to pay off the loan as per their convenience
• Secured as well as unsecured Personal Loans available

Below are some basic features of UCO Bank Personal Loans:

UCO Bank has introduced a new Repo Rate Based Lending Rate, called UCO Float Rate. The revised UCO Float rate is 8.05% w.e.f. 05.10.2019. The details of the personal loan interest rates applicable on different Loan schemes offered by UCO Bank are as follows:

UCO Bank offers different kinds of Personal Loans that can suit different kinds of requirements. They offer customised term loam plans for individuals as per their purpose. Below are some of the Personal Loan types offered by UCO Bank:

UCO Cash:

• This loan is available for any personal requirement such as wedding expense, education expense, medical expense, home-related expense, etc.
• This loan is available for salaried employees working with any government or public firm, private company, MNC, or any reputable institution.
• Applicant must have at least 2 years of experience
• Applicant must have Salary Account with UCO Bank branches
• Up to 10 times of gross monthly income (subject to a maximum of  10 Lakhs) can be availed as personal loan.
• No security required is required for UCO Cash Loan
• Tenure can be up to 60 months

UCO Pensioner Loan:

• This loan is available for individuals who receive a monthly pension in UCO Bank
• This loan is available for any personal purpose, such as medical expenses, payment of insurance premiums, marriage expenses, educational expenses, traveling expenses, repairs of house, funeral expenses, and agricultural needs.
• Up to  10 Lakhs can be availed as a personal loan amount
• Tenure can be 48 months or until the pensioner reaches 75 years of age
• Spouses/heirs of pensioners are required to sign as guarantor. Third-party guarantors are also eligible.

UCO Shopper Loan Scheme:

• This loan is available for the purchase of consumer durables, such as refrigerators, air conditioners, televisions, computers, any other electrical gadgets, etc.
• This loan is available for self-employed individuals or salaried professionals who are existing customers of UCO Bank.
• The applicant should have a minimum monthly salary of  30,000
• The minimum age criterion is 21 years. The maximum age until the end of tenure can be 60 years for salaried applicants and 65 years for self-employed applicants.
• Up to  2,00,000 or up to 10 times gross monthly income can be availed as Personal Loan
• Up to 60 months of tenure can be availed

UCO Securities:

• This loan is available to individuals who own any form of securities like National Savings Certificate, Govt. Securities, Kisan Vikas Patra, etc.
• This loan is available for individuals who have the securities in their own names or are joint owners of the same.
• This loan can be provided in the form of a term loan, an overdraft account with a pre-approved amount, cash credit, etc.
• Tenure availed can be until the maturity of the provided security

Gold Loan Scheme :

• This loan is available for any purpose related to the priority sector like agriculture, home sector, expenses, education, small businesses, or MSMEs.
• This loan is available for individuals/groups from rural/semi-urban/urban sectors. Both salaried and self-employed individuals are eligible for this Personal Loan.
• This loan is provided against the security of gold ornaments
• The loan amount availed depends on the value of the gold ornaments

The bank issues certain charges when you submit your loan application to them. Below are mentioned the charges commonly asked for by UCO Bank:

The main eligibility criteria for UCO Bank Personal Loan are as mentioned below:

Simply providing the application form is not enough to start the approval process of your Personal Loan application. The bank also requires you to provide certain documents to verify all the claims that you make in your loan application. Although the document list can vary for different types of products, certain documents are mandatory and asked for by the bank for all kinds of applications. These are documents related to your identity, residence, and income proof. The bank uses these documents to verify your eligibility for the personal loan.

Below are the documents that you will need:

• Duly filled application form
• Identity proof
• Residential proof
• Proof of income from salary/business/profession/pension/etc.
• Processing fee cheque
• 2 passport-sized photographs

The EMI (Equated Monthly Instalment) amount is the amount that has to be paid every month to the bank as repayment against the loan availed. The EMI amount has to be comfortable enough because you will have to pay the EMI regularly every month.

Calculating the EMI amount can be a fairly complicated process. There are a lot of calculations associated with it and the process can be time-consuming as well. For this reason, most banks and financial institutes provide a tool called an EMI Calculator. The EMI Calculator can help with the complex EMI calculations and provide you with the EMI in a very short time.

MyMoneyMantra also provides you with an EMI Calculator to help you with this phase of the EMI calculation process. The EMI Calculator is a free tool available to anyone who can access the MyMoneyMantra website. The EMI Calculator requires you to enter the loan amount, rate of interest, and tenure as input to calculate the EMI amount.

UCO Bank has an efficient customer care system set up to ensure that the customers always receive immediate assistance for all their needs. Customer care executives are even available to visit your place and help you apply for the Personal Loan. Below are the customer care details that you can use to contact the bank:

Toll-free number:

1800 274 0123

Email address:

Uco.custcare@ucobank.in