UCO Bank Gold Loan

Following are the key features and benefits of UCO gold loan:

• Type of loan: Demand Loan.
• Purpose: To enable borrowers in rural/ semi-urban/ urban/ metropolitan areas to provide them easy and instant credit facilities for priority sector activities like agriculture, small business, retail trade, education, housing, micro & small enterprises, etc.
• Loan amount: 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.
• Gold ornaments assessment & testing: All gold ornaments and coins must be apprised by an experienced Goldsmith for its weight, purity and fineness before pledging as security. 
• Margin: Borrowers have to maintain a margin of 25% to 40% on the market price of the gold.
• Rate of interest: UCO Bank gold loan interest rate varies between 7.40% to 7.90% p.a., depending on the scheme type, margin provided, gold loan per gram rate today, and other factors.

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.  

Documents required for gold loan at UCO Bank are mentioned below:

• Necessary declaration from the borrower specifying the purpose of such loan at the time of sanction.
• Gold loan application form along with recent passport-size photographs of the applicant. 

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:

Following are the fees and charges associated with availing of UCO Bank gold loan:

• Foreclosure Charges: Nil
• Service Charges
  • For Priority Sector: Rs. 250 for a loan up to Rs. 10 Lakhs and Rs. 500 for loan above Rs. 10 Lakhs.
  • For Non-Priority Sector
    • Loan up to Rs. 5 Lakhs: Rs. 500
    • Loan above Rs. 5 Lakhs to Rs. 10 Lakhs: Rs. 1,000
    • Loan above Rs. 10 Lakhs: 0.20% on the amount of loan sanctioned, subject to a maximum of Rs. 5,000.

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.