UCO Bank
Updates
Extension of Bid Submission dote In respect of Tender Notice inviting bids/quotations for Printing of Bank's Annual Report for the year 2021-22    Uco Logo    
INVITATION FOR BIDS/QUOTATIONS FOR PRINTING OF BANK'S ANNUAL REPORT FOR THE YEAR 2021-22    Uco Logo    
Release of Provisional Select List of candidates selected in CRP-Clerk-XI by IBPS, Mumbai for FY 2022-23    Uco Logo    
Release of Provisional Select List of candidates selected in CRP-Clerk-X(Reserve List) by IBPS, Mumbai for FY 2021-22    Uco Logo    
Release of Provisional Select List of candidates selected in CRP-PO-XI by IBPS, Mumbai for FY 2022-23    Uco Logo    
Release of Provisional Select List of candidates for the post of IT Officer selected in CRP-SPL-XI by IBPS, Mumbai for FY 2022-23    Uco Logo    
Release of Provisional Select List of candidates selected in CRP-PO-X (Reserve List) by IBPS, Mumbai for FY 2021-22    Uco Logo    
Release of Provisional Select List of candidates selected in CRP-SPL-X (Reserve List) by IBPS, Mumbai for FY 2021-22.    Uco Logo    
Advertisement of vacancy for various posts at RSETI Begusarai and Munger    Uco Logo    
Appointment of a Secretary to the Advisory Board for Banking and Financial Frauds (ABBFF) on contractual basis    Uco Logo    
Result of Internal Ombudsman (IO)    Uco Logo    
Dear Customer, please participate in the fight against corruption; take online Integrity Pledge.    Uco Logo    
Registration for COVID-19 Vaccine    Uco Logo    
CUSTOMER CARE TOLL FREE NUMBER - 1800 103 0123    Uco Logo    
NPS Subscriber Registration    Uco Logo    
NPS Subsequent Contribution    Uco Logo    
Uco-Logo
      Skip to main content  |   Screen Reader  |   A+ A A-
azadi-top
  • uco-logo1
  • home-img
    Home
  • save-img
    Save
  • borrow-img
    Borrow
  • insure-img
    Insurance
  • pay-img
    Invest
  • gov-img
    Govt Schemes
  • rates-img
    Interest Rate
  • digital-img
    Digital
  • vid-img
    Video Gallery
  • new-img
    New Launch
  • vid-img
    Rajbhasha
  • new-img
    New Launch
  • search-img
    Search
  • loc-img
    Locate
  • cal-img
    Calculator
  • Home
  • Save
  • Borrow
  • Insurance
  • Invest
  • Govt Schemes
  • Interest Rates
  • Digital
  • Rajbhasha
  • Video Gallery
  • New Launch
  • Search
  • Locate
  • calculate
banner
  • You are here
  • Home arrow
  • Borrow arrow
  • Other Loan Product

Mortgage Loan img

UCO Property Loan

Purpose

  1. Credit facility to Firms/Companies and individuals to meet financial needs of their MSE units, Agricultural needs and other purposes falling under Priority sector norms.
  2. Credit facility for Personal expenditure of varied needs like medical emergencies, travelling expenses, social obligations etc.

Nature of facility

  1. Term Loan OR
  2. Overdraft to be allowed to Non-Salaried Borrowers/Firms/Companies for Business Purpose Only.

Target Group and Eligibility

Any individual (salaried or Professional/Self-employed or Pensioner or others) in the age bracket of 21-65 years having property to be mortgaged and sufficient income to repay the loan.

Non-Salaried class borrowers (Professionals/Businessmen) should have regular source of income and are filling IT Return.

Maximum age limit of the borrower on the date of applying for Credit facility is 65 years and maximum age limit for full repayment is 70 years for all class of borrowers.

Income Criteria

Salaried Borrower

Minimum gross Salary of 30,000/- p.m. at Metro Centres and Rs.20000/- p.m. for other centres.

Non-Salaried Borrower

Minimum Income of 4.00 lac p.a. at all centres as per latest IT Return.

Under both cases :

  1. After all deductions of like PF, Insurance Premium, Income Tax, Professional Tax and other statutory deductions, any other loan installments including EMI of the proposed loan, Net Take Home Pay should not be less than 40% of gross salary/income or Rs.10000/- whichever is higher.

Income of co-applicant can be reckoned to arrive at the stipulated minimum take home pay.

Co-applicants can be Spouse/Parents/Children

Quantum of Credit facility and fixation of amount of sanction

Credit facility for an amount of 60 percent of the distress sale value of the property in the form of non-agricultural land with building constructed thereon/flat/apartment/ commercial property in the name of the borrower (or in joint names) may be considered.

Minimum Amount: Rs 2 lacs
Maximum Amount: Rs. 200 lacs for individuals & Rs. 500 lacs for Firms/ Companies.

In case the property stands in joint names, Credit facility will be considered in joint names

Credit facility will not be allowed against third party immovable property.

Repayment

Term Loan: Maximum 144 Equated Monthly Instalments irrespective of loan amount.

OD: The Interest of OD account should be fully serviced every month.

OD limit must be renewed before expiry of 12 months.

Every month minimum credit should be more than interest debited to the account.

Rate of Interest (floating)

  • UCO Float Rate + 2.55% p.a. for advance under Priority Sector
  • UCO Float Rate + 3.55% p.a. for advance under Non-Priority Sector

Security

Equitable Mortgage (EM)/ Registered Mortgage of unencumbered residential house/flat/apartment/ commercial property situated in metro/urban/ semi-urban centres in the name (in joint names) of the prospective borrower.

Insurance

The property will be insured against fire, riots and wherever required, against other probable hazards such as floods, lightning, cyclone etc. by the borrower with the usual 'Bank’s Clause' for the value of the property preferably with our channel partners.

For more details please contact nearest UCO Bank branch.

top

UCO Rent

UCO RentThis is a loan against the security of future receivables i.e. assignment of future rent receivable, for productive purposes e.g. augmenting earnings like investing in securities, undertaking repairs & renovation of the property, etc.

Eligibility

Owners i.e. lessors of houses/flats/godowns/warehouses etc. only are eligible under the scheme. The owner may be an individual, a firm or a company. Properties belonging to cooperative societies are not considered for sanction of loan under the scheme.

Quantum of loan

To Owner of our Bank’s Branch Premises or where tenant is PSUs, Reputed Corporates, FI, Insurance Companies and MNCs: 70% of the total rent receivables during the unexpired lease period or loan period less total of advance deposit & all other applicable taxes.
For others -55% of the total rent receivables during the unexpired lease period or loan period less total of advance deposit & all other applicable taxes.
Minimum Rs. 1 Lac

Repayment

Maximum repayment period is 120 months.

Rate of Interest

To Owner of our Bank's Branch

UCO Float Rate + 1.55%

Owner of our Bank’s Branch Premises or where tenant is PSUs,Reputed Corporates,FI,Insurance Companies and MNCs

UCO Float Rate + 1.70%

For others repayment upto 36 months

UCO Float Rate + 2.40%

For others repayment above 36 months

UCO Float Rate + 2.65%

Commercial Real Estate (CRE)

UCO Float Rate + 2.90%

Processing fee

0.50% of the loan amount as up-front fee with a maximum of Rs. 2.00 lacs.

Pre-payment Charges

No prepayment charges when prepayment is done through the borrower’s own fund & 1% prepayment charges are applicable in other cases.

top

UCO Swabhiman - Reverse Mortgage Loan Mortgage Loan Scheme for Senior Citizen

Bank has introduced UCO Reverse Mortgage Loan Scheme for Senior Citizens, under Reverse Mortgage a Senior Citizen, owning a house/flat, can avail of a monthly stream of Income against the mortgage of his/her property while remaining the owner and occupying the house throughout his/her lifetime, without repayment or servicing of the loan.

Eligible Borrowers

Senior Citizens of India.

Purpose

Supplementing Senior Citizen's Income

Loan Amount

Based on valuation of the property and age of the borrower - Maximum Rs.50 lacs

Period of Loan

Minimum 5 years and maximum 15 years.

Mode of
Disbursement

Monthly/Quarterly with fixed/increasing Equated monthly Disbursement with an option to avail One-time lump sum payment after 12 months from the first disbursement during entire tenure of 15 years as per choice of the borrower.

Security

Equitable Mortgage of the residential property owned & self occupied by the Senior Citizen borrower.

Rate of Interest

Interest Rate on Advances Rate Effective From
Base Rate 9.70% 05.10.2015
BPLR 14.25% 05.10.2015

UCO Float Rate + 3.05% p.a.

Repayment

The outstanding loan will be due when the last borrower dies/permanently moves out of the house/would like to sell the home.

Loan will be liquidated by sale of property.

Option available with the legal heir(s) to repay the loan and redeem the house property.

top

  • img

    Home Loan

    Home Loan

    KNOW MORE
  • img

    Vehicle loan

    Vehicle loan

    KNOW MORE
  • img

    Personal Loan

    Personal Loan

    KNOW MORE
  • img

    Gold loan

    Gold loan

    KNOW MORE
  • img

    Agri Loan

    Agri Loan

    KNOW MORE
  • img

    Education Loan

    Education Loan

    KNOW MORE
  • img

    Loan Against Deposit

    Loan Against Deposit

    KNOW MORE
  • img

    GECL

    GECL

    KNOW MORE
  • img

    SME/Bussiness Loan

    SME/Bussiness Loan

    KNOW MORE
  • img

    Other Loan Product

    Other Loan Product

    KNOW MORE

Let us know your interest

Personal Loan
Personal Loan




  • mediaMedia
  • careerCareer
  • faqFAQ
  • investorInvestors
  • tendersTender/ Notices
  • Listing/Auctioning of Properties
  • Aadhar Enrolment Centres
  • Branch Locator
  • Citizen’s Charter
  • Customer Care Centre
  • Central Sector Interest Subsidy Scheme
  • Deceased Claim Checklist
  • Statement of Means
  • Doorstep Banking facility
  • Digital District
  • Employee Login
  • Foreign Currency Loans
  • FAQ on Digital Products
  • GOI MOF Press Release
  • Help Section
  • Integrity Pledge
  • Central Vigilance Commission
  • Blogs
  • Attention Investors
  • Indian Banks Auction Properties
  • Know your Customer norms
  • List of Branches having all Women Employees
  • One Time Settlement (OTS)
  • Prime Minister's National Relief Fund
  • Psbloansin 59 Minutes.com
  • PMJDY Grievances
  • RTGS/NEFT Facilities
  • RTI
  • RBI Monetary Museum
  • Staff Pensioner’s Corner
  • Sitemap
  • Safe Banking-do's & don'ts
  • Supreme Court Amrapali Project
  • Success Story of MUDRA BENEFICIARIES
  • Track Your Loan Status
pradhan-mantri-jan-dhan-yojna-img
swachh-bharat-abhiyan
dig-india
atm-card
mudra-uco
u-mitra-logo
nimse-logo
© 2022 All Rights Reserved
You are Visitor Number : 22631120
  • wcag wcag
logo