CreditMantri Finserve Private Limited
Door No.3, Block B, No. 147, 2nd Floor, Workeasy Space Solutions, RK Swamy Centre, Hansa Building, Pathari Road,Thousand Lights, Chennai, Tamil Nadu600006
Have any queries? Click here for more details
All written queries will be responded within 1 working day.
We'd love to help you through every step along the way.
Is your Credit Score >750?
UCO Bank offers personal loans at attractive interest rates, flexible repayment tenures, and minimum processing charges. UCO Bank personal loan interest rates will vary with the loan amount, loan tenure, and some other factors as well.
UCO Bank is a commercial bank with branches all over India. It carries on all banking activities including disbursing loans and advances to its customers. One of the many loans that this bank offers is a personal loan, which is an unsecured loan and can be used for a variety of purposes like medical treatment, financial liability, mortgage, social obligation, marriage and a lot more.
The amount that UCO Bank gives as a personal loan is 10 times the gross monthly salary i.e. up to a maximum of Rs 10,00,000. No collateral or guarantor is required for this loan.
About UCO Bank Personal Loan Interest Rate
At present UCO Bank personal loan interest for men starts from 11.70% which is 1-year MCLR+3% and for women, the rate of interest is 11.45% which is 1-year MCLR +2.75%. The loan is given for 5 years with 60 EMIs. Processing charges are 1% of the loan amount with a minimum of Rs.750/-.
The interest rates and other provisions are subject to change at any time by the bank authorities. Please visit the bank website or bank branch for current rates and provisions.
The applicant of a personal loan may be able to get a reduced interest rate or a discount on processing charges if he has a good relationship with the bank. He/she will also be able to get a discount on the prepayment charge. An applicant does not have to disclose the end use of the personal loan to the bank. The UCO Bank personal loan comes with customer friendly terms of repayment. Some of the factors, which may vary the rate of interest or loan amount, include -
A credit score is a numeric indicator of the creditworthiness of an individual. A high credit score usually attracts lower interest rates and vice versa. Timely repayment of past loans and diligent usage of credit cards help in improving the credit score.
A high income naturally means higher capacity to repay the loan. UCO Bank requires that an applicant’s net salary should be 40% or more of the gross salary. Net salary means salary after all deductions including PF, Tax and any EMIs. A personal loan may be granted if the net salary is Rs. 10,000 or more.
An employee of a reputed company – like the State Government, Central Government, Semi-Government, University, College, or School – who has been working with the institution for two or more years can get UCO Bank personal loan very easily.
An applicant of UCO Bank personal loan should have a good relationship with the bank to get a personal loan with the lowest interest and discount on processing charges. He/she may also be able to get a discount on prepayment charges. UCO Bank also provides a concessional rate for women. Pensioners are not required to pay any processing fees.
UCO Bank evaluates the repayment capacity of an applicant before sanctioning a personal loan and determining the rate of interest. The bank will make sure that the applicant has enough money in his account after EMI for all other requirements. The bank also looks into the assets of the borrower and his creditworthiness before sanctioning a personal loan.
UCO Bank offers personal loans to individuals with regular income like self-employed, businesspersons, pensioners and permanent employees of companies. The most outstanding feature of UCO Bank personal loan is the high loan amount offered at competitive rates of interest. The bank also offers flexible payment options and offers loans with minimum documentation where collateral is provided.
UCO Bank personal loan has a low rate of interest and consequently low EMIs. UCO Bank website has an EMI calculator that computes the interest rate based on the amount of loan you need and a few other details. It also computes the tentative EMI for the selected amount and tenure. This is a useful tool, which will help you decide the amount of loan you can get. It will depend on your income and the amount you will pay as EMI throughout the term.
UCO Bank personal loan is given to people who are employed and have a steady source of income. Employees of a reputed public company, State Government, Central Government, Universities, Colleges, Private Companies, Private Sector Undertaking, who are permanent employees or have been in service for at least two years can avail UCO Bank personal loan.
To get a personal loan from UCO Bank, the applicant must have worked in the same organization for at least 2 years at the time of application. The minimum age to apply for the loan is 21 years and the maximum age is less than 58 years.
The applicant’s net salary should be at least 40% of his gross salary. Net salary for the purpose of loan means salary after all deductions including PF, tax, and any EMI for previous loans.
The net salary after all deductions should be Rs. 10,000 or more.
Applicants can track the status of the application as well as the sanctioned loan on the bank website using the "Track My Application” feature.
1. How do you apply for UCO Bank personal loan?
You can apply for loan in 3 easy steps –
2. How does UCO Bank recover the loan in case of death of the applicant?
All UCO Bank loans of 2 lakhs or more come with an insurance cover which is paid by the applicant. The outstanding amount of the loan is covered under the insurance policy. This is called Rin Jeevan Suraksha policy. In the event of unfortunate death of the applicant during the loan term, the outstanding loan is recovered from the proceeds of this policy.
3. Can an applicant foreclose the loan?
Yes, an applicant can foreclose the loan after paying 6 equated monthly installments. There will be prepayment charges on the outstanding amount.
4. What is the amount of personal loan that you can get from UCO Bank?
You can get a personal loan of Rs 50,000 – Rs 10,00,000 from UCO Bank.
A very detailed and in-depth analysis of my credit report,My credit standing explained in easy to understand terms,Very relevant offers,Good website - easy to use,Wonderful and simply accessible
Andhra Bank Personal Loan Interest Rate
Axis Bank Personal Loan Interest Rate
Bank Of Baroda Personal Loan Interest Rate
Bank Of India Personal Loan Interest Rate
Bank Of Maharashtra Personal Loan Interest Rate
Canara Bank Personal Loan Interest Rate
Central Bank Of India Personal Loan Interest Rate
Citibank Personal Loan Interest Rate
City Union Bank Personal Loan Interest Rate
Corporation Bank Personal Loan Interest Rate
DCB Bank Personal Loan Interest Rate
Deutsche Bank Personal Loan Interest Rate
Dhanlaxmi Bank Personal Loan Interest Rate
Federal Bank Personal Loan Interest Rate
HDFC Bank Personal Loan Interest Rate
ICICI Bank Personal Loan Interest Rate
IDBI Bank Personal Loan Interest Rate
Indian Bank Personal Loan Interest Rate
Indian Overseas Bank Personal Loan Interest Rate
IndusInd Bank Personal Loan Interest Rate
Jammu Kashmir Bank Personal Loan Interest Rate
Karnataka Bank Personal Loan Interest Rate
Karur Vysya Bank Personal Loan Interest Rate
Kotak Mahindra Bank Personal Loan Interest Rate
Lakshmi Vilas Bank Personal Loan Interest Rate
Oriental Bank Of Commerce Personal Loan Interest Rate
Punjab National Bank Personal Loan Interest Rate
Punjab Sind Bank Personal Loan Interest Rate
RBL Bank Personal Loan Interest Rate
SBI Personal Loan Interest Rate
South Indian Bank Personal Loan Interest Rate
State Bank Of Travancore Personal Loan Interest Rate
SVC Bank Personal Loan Interest Rate
Syndicate Bank Personal Loan Interest Rate
Tamilnad Mercantile Bank Personal Loan Interest Rate
Union Bank Of India Personal Loan Interest Rate
Vijaya Bank Personal Loan Interest Rate
YES Bank Personal Loan Interest Rate
CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf.