Interested in financial products
Processing
UCO Bank Personal Loan

Apply UCO Bank Personal Loan

Processing Fee

nil*

Max Tenure

nil*

Best Rate

11.45%

Currently not available! Check Eligibility for similar products

Sorry! We couldn't find any offer matching this category.

UCO Bank Personal Loans

UCO Bank was founded in Kolkata in 1943. It is a major government-owned commercial bank in India. The bank has 4,000 plus service units 49 zonal offices spread all over India. It also has two overseas branches in Singapore and Hong Kong. UCO Bank's headquarters is on BTM Sarani, Kolkata. The bank provides a wide range of banking products and financial services.

CreditMantri Youtube

What is a personal loan?

A personal loan is an unsecured (i.e. without collateral), multi-purpose loan usually taken to cover short-term money requirements. Personal loans usually have a speedy approval process hence making it one of the most popular loans in the market.

An Introduction to UCO Bank Personal Loans

UCO Bank offers a wide range of services in the personal loan segment. It is the most preferred bank by all kinds of people for any financial service. For any immediate financial requirement like wedding, medical treatments, house repair, pleasure vacation etc. can be fulfilled using the personal loans offered by UCO Bank.

Apply UCO Bank Personal Loan

Advantages of UCO Bank

  • Low interest rate
  • No security needed
  • Less paperwork
  • Long tenure
  • Minimum income requirement

Documentation Required for UCO Bank Personal Loans

Important documents to be submitted while applying for personal loans with UCO Bank

  • Completed loan application
  • 3 Passport size photographs
  • Proof of identify (photo copies of Voters ID card/ Passport/ Driving licence/ IT PAN card)
  • Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill)
  • Statement of Bank Account/ Pass Book for last six months
  • Form 16/IT returns for the last two financial years for salaried employees
  • IT returns for the three years for self-employed professionals

UCO Bank Personal Loans

Catering to the needs of various sections of people, tailor-made UCO Bank personal loans is the best option to fulfil your short-term needs. You can choose the best personal loan based on your requirement.

Features of UCO Bank Personal Loan

Key Highlights

Eligibility CriteriaSalaried/Self-EmployedPensionersShopper Scheme- Existing UCO Bank customer
AgeBetween 21-60 yearsAll who draw pension thorough UCOExisting Customer at least for 6 months
Loan TenureUp to 60 monthsUp to 36 monthsUp to 60 months
Loan AmountUp to 10 LakhsUp to 5 LakhsUp to 20 Lakhs
Interest RateMCLR of 1 Year + 3%, 11.45%Up toMCLR of 1 Year + 4.15%Up to MCLR of 1 Year + 2.15%

UCO Cash

Motive:

The aim of the UCO Bank personal loan is to provide financial assistance to fulfil the needs like medical treatment of self or a family member, to meet wedding and travel expenses, education and house repair.

No Collateral Required:

As personal loans are unsecured loans, you do not have to pledge any collateral to obtain UCO Bank personal loan for public. However, suitable third-party guarantee is acceptable.

Loan Amount:

You can get loan up to INR 10,00,000.

Loan Tenure:

Up to 5 years

Interest Rate

For Men- MCLR of 1 Year + 3%, 11.45% at present For Women- MCLR of 1 Year + 2.75%, 11.20 at present

Processing Fee:

1% of the loan amount

Convenient Borrowing:

You can apply online or visit nearby UCO Bank branches.

Eligibility Criteria:

A confirmed employee in Govt. / Semi-Govt. / Reputed Public / Private Ltd. Co. /College / Universities / Public Sector Undertaking or applicant should be a permanent employee or have completed minimum 2 years of service in the same organization and applicant must have salary account with our branches or employer of applicant provide undertaking that monthly loan instalment will be recovered and directly paid to bank.

UCO Pensioner

Motive:

For pensioners drawing through UCO Bank

No Collateral Required:

As personal loans are unsecured loans, you do not have to pledge any collateral to obtain UCO Bank personal loan. However, suitable third-party guarantee is acceptable.

Loan Amount:

You can get loan up to INR 5,00,000.

Loan Tenure:

Up to 36 months

Interest Rate

MCLR of 1 Year + 4.15%

Processing Fee:

No processing fee

Convenient Borrowing:

You can apply online or visit nearby UCO Bank branches.

Eligibility Criteria:

Pensioners drawing pension through UCO Bank

UCO Shopper Loan Scheme

Motive:

An easy finance scheme for purchasing home appliances

No Collateral Required:

As personal loans are unsecured loans, you do not have to pledge any collateral to obtain UCO Bank personal loan for public. However, suitable third-party guarantee is acceptable.

Loan Amount:

You can get loan up to INR 20,00,000.

Loan Tenure:

Up to 5 years

Interest Rate

In case of Salary tie-up arrangement or Loan secured by 100% liquid collateral security - MCLR of 1 Year + 1.15%

All other cases - MCLR of 1 Year + 2.15 %

Processing Fee:

1% of the loan amount

Convenient Borrowing:

You can apply online or visit nearby UCO Bank branches.

Eligibility Criteria:

Existing customers of UCO Bank for a minimum period of six months

A self-employed/Professional/Businessman or A permanent employee of Government / Semi Government/PSU/Universities or reputed private concerns with minimum service of 1 year and minimum remaining 5 years’ service period.

EMI Payment Methods

Your UCO Bank personal loan can be repaid in following three ways.

Standing Instruction (SI):

If you are an existing account holder with UCO Bank, Standing Instruction is the best mode of repayment. Your EMI amount will be debited automatically at the end of the monthly cycle from the UCO Bank account you specify.

Electronic Clearing Service (ECS):

This mode can be used if you have a non-UCO Bank account and would like your EMIs to be debited automatically at the end of the monthly cycle from this account.

Post-Dated Cheques (PDCs):

You can submit post-dated EMI cheques from a non-UCO Bank account at your nearest UCO Bank Loan Centre. A fresh set of PDCs will have to be submitted in a timely manner. Please note Post Dated Cheques will be collected non-ECS locations only.

It is recommended that you opt for either the SI or ECS mode of payment for faster and less prone to error than the use of PDCs.

Personal Loan FAQs

1. What are my loan limits?

Your personal loan limit would be determined by your income and repayment capacity.

2. Can my spouse income be included for calculating the loan amount?

Yes, your spouse's income can be included provided he/she guarantees the loan or the loan is taken jointly.

3. Do I have to pledge some form of security?

No Security is Needed

4. What is the repayment schedule like?

The minimum amount that you are expected to pay every month is the EMI. You are allowed to pay more than the EMI if you wish to, and we do not charge any prepayment penalty.

5. What is EMI?

EMI stands for Equated Monthly Instalments. This instalment comprises both principal and interest components. Use the EMI calculator to find out your monthly payments based on the loan amount, the rate of interest and the repayment period. Choose the combination that best meets your financial resources and requirements.

6. What is the processing fee? Are there any other charges?

The processing fee for UCO Bank personal loan is 1% of the loan amount for UCO Cash and UCO shopper loan scheme. No processing fee for Pensioner loan scheme.

7. Do I have the option of choosing a fixed or floating rate for the loan?

You have the option to avail the loan with either a fixed interest rate or a floating one. In the case of a fixed rate loan, the interest rate on the loan will remain fixed through the entire tenure of the loan, whereas in the case of a floating rate loan, the interest rate could decline or rise in line with the changes in the Bank's Medium-Term Lending Rate (SBMTLR).

8. How does UCO Bank Personal loan compare with those offered by other banks?

There is total transparency with regard to the rate of interest and the fees charged by us.

UCO Bank offers personal loans at the cheapest rates of interest, with no security or collateral

UCO Bank offer loans for the longest tenors (60 months), with the flexibility provided to reduce the tenor by prepaying the loan without any penalty.

The Bank provides finance for any personal need or requirement; the total amount being determined on the basis of repaying capacity.

With an UCO Bank personal loan, you can choose between fixed rates of interest and floating interest rates.

9. How can I apply for the UCO Bank personal loan?

You can either apply online or visit the nearest UCO Bank loan centre for a personal loan.

UCO Bank Personal Loans Summary

UCO Bank provides attractive interest rates on personal loans when compared to other lenders. Low interest rate with no hidden charges makes UCO Bank personal loans a prospective and viable option for borrowing for your urgent financial requirements. With long tenure and part-prepayment, UCO Bank personal loans do not impose much burden on the customers.

×Thank you! Your comment will be reviewed and posted shortly.

Write a review

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.