UCO Bank

Loans/Advances

Being a Commercial Bank, giving Loans and Advances is among our primary activities. Apart from our participation in meeting both Term Loan and Working Capital requirements of Agriculture sector, Trade and Service sector, Large/Medium and Small Scale Industries sector, Infrastructure sector etc. including taking care of their Export/Import and non-fund based needs like Letter of Credit, Bank Guarantee etc., we have a fairly large basket of loan products specially designed to suit your personal needs. Salient features of some of the more attractive Personal Loan Schemes are described below.

Home Loan

This housing finance scheme brings to you an excellent opportunity to have your own house or flat. The scheme has been carefully tailored to suit your requirements. The reasonable rate of interest that you pay will be calculated on reducing balance, i.e. you do not have to pay interest on the loan instalments actually repaid from the date of such repayment.

Eligibility

Individual (including NRI and PIO) having minimum 21 years of age and maximum 75 years of age (all class of borrower) inclusive of repayment period.

Purpose

  1. Purchase and construction of independent house/ready built flat for residential purpose.
  2. Extension/Repair/Renovation of existing house/flat not more than 50 years old.
  3. Takeover of home loans availed from other banks/FIs.
  4. Loan is also available for furnishing of house property.
  5. Purchase of old house/flat up to 40 years old.

Quantum of loan

The area-specific maximum limits for construction/purchase are as under :

Location/Centre For Construction/ Purchase/ Takeover/Extension For Repair/ Renovation
Metro/Urban/Semi-urban/Rural No upper limit Rs.15 lac

Loan Entitlement

Least of the Loan amount computed under A and B below :

Cost of Stamp duty, registration and other documentation charges will not be included in the cost of housing property, so that LTV (Loan to value) ratio does not get diluted. However, cost of Stamp duty, registration and other documentation charges may be included as part of project cost, where cost of house/dwelling unit does not exceed Rs. 10.00 lacs for the purpose of calculating LTV ratio.

Premium of Insurance of the mortgaged assets and/or the Life of the borrower for a period of loan tenure may be considered as part of project cost.

In case of Repair/Renovation/Extension of flat/house, the amount of loan shall not exceed as stipulated above of the estimated cost, subject to maximum loan amount for Repair/Renovation under the Scheme.

The total deductions existing plus the EMI of the proposed loan would be linked to Gross Monthly Income (GMI) and must not exceed the GMI of the borrower(s) as under :

  1. On the basis of purpose/Cost:
    1. 90%(loan up to Rs 30 lacs),
    2. 80%(loan above Rs 30 lacs to Rs 75 lacs) or
    3. 75% (loan above Rs 75 lacs) of the project cost of construction or purchase price of house/flat as per agreement for sale.
  2. On the basis of monthly income vis-a-vis EMI :
    1. For Indian Residents:
      1. GMI up to Rs.50,000/- - 60% of GMI
      2. GMI above Rs.50,000/- and up to Rs.1,00,000/- - 70% of GMI (subject to minimum monthly take home pay of Rs.20,000/-)
      3. GMI above Rs.1,00,000/- -75% of GMI (subject to minimum monthly take home pay of Rs.30,000/-)
    2. For NRI & PIO:

      Income Slab

      Total deductions permissible including proposed EMI

      GMI up to Rs.1,50,000/-

      50% of GMI

      GMI above Rs. 1,50,000/-

      60% of GMI

Rate of Interest

CIBIL Score (Up to Rs. 5Crs)

Spread over UCO Float Rate

Effective Rate

Above 750

Nil

UCO Float Rate

Up to 750

0.10%

UCO Float Rate + 0.10%

 

Processing Fee

0.5% of the loan amount, minimum Rs.1500/- & maximum Rs. 15000/-.

Repayment

The maximum period of repayment is 30 years/360 EMI but should not be beyond 75 years of age of borrower in case of all class of borrower.

Security

  1. EMTD of property financed.
  2. No third party guarantee

Prepayment charge

NIL

Tax Benefits

Tax relief on principal and interest components of this loan would be available as per provisions prevailing under Income Tax Act.

Insurance

  1. The assets created under UCO Home Loan should be insured with any General Insurance Channel Partner comprehensively against fire and natural calamities.
  2. UCO Griha Jeevan Suraksha to cover the outstanding loan in case of accidental or natural death of borrower

For more details, please contact your nearest UCO Bank branch.

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Purpose:

  • A facility for Home Loan applicants by providing In-principle sanction of home loan based on eligibility/entitlement as per Income Criteria under UCO Home Loan scheme where applicant has not yet identified/finalized the property.

Eligibility:

  • Individual (including NRI and PIO) having minimum 21 years of age and maximum 75 years of age (all class of borrower) inclusive of repayment period.

Quantum of Loan:

  • The area-specific maximum limits for construction/purchase are as under :

Location/Centre

For Construction/ Purchase/ Takeover/Extension

For Repair/ Renovation

Metro/Urban/Semi-urban/Rural

No upper limit

Rs.15 lac

Loan Entitlement:

Least of the Loan amount computed under A and B below :

Cost of Stamp duty, registration and other documentation charges will not be included in the cost of housing property, so that LTV (Loan to value) ratio does not get diluted. However, cost of Stamp duty, registration and other documentation charges may be included as part of project cost, where cost of house/dwelling unit does not exceed Rs. 10.00 lacs for the purpose of calculating LTV ratio.

Premium of Insurance of the mortgaged assets and/or the Life of the borrower for a period of loan tenure may be considered as part of project cost.

In case of Repair/Renovation/Extension of flat/house, the amount of loan shall not exceed as stipulated above of the estimated cost, subject to maximum loon amount for Repair/Renovation under the Scheme.

  1. On the basis of purpose/Cost:
    1. 90%(loan upto Rs 30 lacs),
    2. 80%(loan above Rs 30 lacs to Rs 75 lacs) or
    3. 75% (loan above Rs 75 lacs) of the project cost of construction or purchase price of house/flat as per agreement for sale.
  2. On the basis of monthly income vis-a-vis EMI :
  3. The total deductions existing plus the EMI of the proposed loan would be linked to Gross Monthly Income (GMI) and must not exceed the GMI of the borrower(s) as under :
    1. For Indian Residents:
      1. GMI up to Rs.50,000/- - 60% of GMI
      2. GMI above Rs.50,000/- and up to Rs.1,00,000/- - 70% of GMI (subject to minimum monthly take home pay of Rs.20,000/-)
      3. GMI above Rs.1,00,000/- -75% of GMI (subject to minimum monthly take home pay of Rs.30,000/-)
    2. For NRI & PIO:

      Income Slab

      Total deductions permissible including proposed EMI

      GMI up to Rs.1,50,000/-

      50% of GMI

      GMI above Rs. 1,50,000/-

      60% of GMI

Rate of Interest:

CIBIL Score (Up to Rs. 5 Crs)

Spread over UCO Float Rate

Effective Rate

Above 750

Nil

UCO Float Rate

Up to 750

0.10%

UCO Float Rate + 0.10%

Validity of Pre-Approval sanction letter:

  • 4 Months from the date of pre-approved sanction letter. Further, request for extension of the time/validity shall not be considered.

Processing Fee and other Charges:

  1. 0.25% of pre-approved loan amount) minimum Rs. 1,000/-, Maximum Rs. 10,000/- to be collected at the time of providing pre-approval offer letter.
  2. This processing fee is non-refundable and will be adjusted based on the prevailing terms & conditions as on date of actual sanction.

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Purpose :

  • To finance existing Home Loan borrowers to meet their various needs with regards to their children’s education, repair, renovation & furnishing of house, business needs, agriculture purpose etc., by extending mortgage charge on the property already mortgaged to the Bank under UCO Home Loan Scheme as primary security.

Eligibility :

  1. All Home Loans borrowers with regular repayment record of at least 36 installments after moratorium.
  2. No overdue in existing Home Loan account
  3. Valid mortgage have been created in favour of the Bank.

Quantum of loan :

Term Loan:

  1. Minimum: Rs. 1 lac
  2. Maximum: Rs 25 lacs

Cash Credit/Overdraft :

  • Maximum Rs.2.00 lacs or 10% of original housing loan whichever is lower.
Top-up loan in any case will not exceed original loan amount.

Processing Fee :

  • 0.10% of the loan amount, Maximum Rs. 10,000/-

Rate of Interest :

  • UCO Float Rate + 1.55%

Repayment Period :

  • Repayment of UCO Top-Up Home Loan is need not be co-terminus with the original Home Loan. However, loan to repaid before the borrower attains the age of 75 years.

Pre-payment Charges :

  • NIL

Security/Guarantee :

  • Extension of Mortgage on the House property already mortgaged to the Bank.

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Vehicle Loan

 

Car LoansThis is an easy finance scheme for purchase of a new car as well as second hand vehicle not older than 5 years.

Target Group

  1. Salaried Group
    • Regular Employee with minimum 6 months completed service.
  2. Non-salaried Group
    • Established professionals & Self Employed, Businessmen
    • Farmers and Agriculturists.
  3. Business Concerns (Corporates & Non Corporates)
  4. Ex-staff and Pensioners
  5. NRIs

Income Criteria

  1. Salaried Group
    • Minimum monthly take-home pay would be Rs.20,000/- at all centres after all statutory deductions and existing loans liabilities + EMI of the proposed loan.
    • Maximum loan limit 36 times of Gross Monthly Income.
  2. Non-salaried Borrower
    • Minimum Income criteria for Professionals & Self-employed Businessman would be Rs 5. 00 lac p.a. in Metro Centres and Rs 4.00 Lacs p.a. in other centres as per ITR/ Assessment of ITR during the preceding year.
    • Maximum loan limit three times of average gross annual income for the last 2 years.
  3. Farmers & Agriculturists
    • Minimum Gross Income of Rs. 4.00 lacs p.a. during the previous financial year.
    • Farmers having land holding in their own name.
    • Maximum loan limit: Three times of Annual Income of the previous financial year.

* Clubbing of income of spouse, major children for ascertainment of loan limit is considered on merits.
* Likewise clubbing of income of regular earning parents is allowed for loan to major children.

  1. Business Concerns (Corporates & Non Corporates)
    • o Business concern must be in profit for last 2 years and cash flow during the currency of loan must be sufficient enough to repay the proposed loan after satisfying all existing liabilities if any.

Age

Minimum age 21 years & Maximum age up to 70 years including repayment period.

Margin Requirements

  1. New Car: 15% for new vehicle
  2. Pre-used Car:
    1. 20% of Valuation in case of reputed certified car dealers for pre used cars. Vehicles up to 5 years old are eligible.
    2. In other cases, 30% of Valuation by approved valuer or surveyor of any General Insurance company / certified automobile engineer or IDV (Insured's Declared Value), whichever is lower, for pre-used cars. Vehicles up to 5 years old are eligible.

Insurance

Car should be Insured under Comprehensive Insurance with requisite Bank clause, preferably through Bank's Channel Partner.

Quantum of loan

  1. For New Car:
    • Maximum finance would be 85% of the on Road Price i.e. Ex Show Room Price+ Cost of Registration +One Time Road Tax+ Insurance(one time) with no ceiling on maximum loan amount.
  2. For Pre-used Car:
    • Rs 15 lac if purchased from reputed certified car dealers for pre used cars..
    • Rs 5 lacs if purchased from others

Repayment

  • New Car: Maximum 84 EMI
  • Pre-used Car: Maximum 60 EMI

Rate of Interest

Category of Car

New

Pre-used

UCO Float Rate+0.55%

UCO Float Rate+1.65% p.a. if purchased from Certified Car Dealer like True Value, First Choice etc.

UCO Float Rate+2.15% p.a. for all others

Processing Charge

1% of the loan amount maximum Rs.1500/-.

Prepayment Charges : NIL

For more details please contact nearest branch.

- Click here for FAQ

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Car Loans

Purpose

  1. For Purchase of New Car.
  2. For Purchase of Pre-used Car of not more than 5 years.

Rate of Interest

Other terms & conditions

  1. This facility is available to only those Home loan borrowers who have been paying EMI regularly for minimum two years after moratorium period and are regular during the entire tenure of the loan.
  2. The facility is not available to those borrowers whose home loan accounts have been restructured/rescheduled during the tenure of the loan.
  3. This facility is also available to those borrowers whose home loan accounts have been closed after regular repayment except take-over by other banks.

All other terms and conditions as per existing UCO Car Loan Scheme will be applicable for the UCO Car Loan Combo Scheme.

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This is an easy finance scheme for purchase of a new two wheeler.

Income Criteria

  1. Salaried borrower
    1. Minimum gross salary of Rs.8000/-p.m
    2. Minimum take home income of 40% p.m. after taking into account the EMI of the proposed loan.
  2. Non-salaried borrower
    1. Minimum income of Rs. 1 lac p.a as per Income Tax Return/Assessment order in the preceding year OR minimum income of Rs. 1.50 lacs p.a for purchase of feature rich vehicles.
    2. 40% take home pay shall be ascertained.
    3. Agricultural Borrower- Self-declaration of income to the satisfaction of Sanctioning Authority.

Age Criteria

  1. Salaried Borrower : 21 to 55 years
  2. Non-Salaried Borrower : 21 to 60 years

Amount of Loan

Maximum Loan Amount Rs.60,000/-(May be enhanced to Rs.1 lac for feature rich two-wheelers).

Processing Charge

1.00% of the loan amount with Minimum Rs.500/-

Margin

10% of the total on road cost

Repayment

Maximum 48 Equated Monthly Installments.

Rate of Interest

UCO Float + 4.55% p.a.

Accounts with full liquid collateral security 1.00% interest Rebate

Accounts with 50% liquid collateral security 0.50% interest Rebate

Prepayment Charges

No pre-payment charges.

For more details please contact nearest UCO Bank branch.

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Mortgage 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 + 2.30% p.a. for advance under Priority Sector
  • UCO Float Rate + 3.30% 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.

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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 Premises.

UCO Float Rate + 1.30%

Where tenant is PSUs-Maharatna / Navratna/ Miniratna, Central / State Departments & Govt. Undertakings, Reputed Corporate, Banks, Financial Institutions, Insurance Companies and MNCs (Multi-National Corporation) for any tenure

UCO Float Rate + 1.30%

For others

For repayment period of upto 36 months
- UCO Float Rate +2.15 %

For repayment period of above 36 months - UCO Float Rate + 2.40%

Commercial Real Estate (CRE)

UCO Float Rate + 2.65%

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.

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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

UCO Float Rate + 2.80% 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.

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Education Loan

Download UCO Education Loan Application Form - (pdf version) Education Loans

Scope:

The scheme extends a helping hand to meritorious students desirous of pursuing higher study either in India or abroad.

Eligibility

Studies in India

Approved courses leading to graduate/post graduate (Masters & PhD. degree and PG Diplomas conducted by recognized colleges/universities, Engineering, Medical, Agriculture, Veterinary, Law, Dental, Management, Computer, etc.).

Computer Certificate courses of reputed institutes accredited to DoE.

Courses like ICWA, CA, CFA, etc.

Studies Abroad

Graduation : Job oriented professional / technical courses offered by reputed Universities.

Post Graduation : MCA, MBA, MS, etc.

Courses conducted by CIMA - London, CPA in U.S.A., etc.

Age limit

For Graduation:
  1. 28 years for general candidates
  2. 30 years for SC/ST candidates
For Post Graduation:
  1. 30 years for general candidates
  2. 33 years for SC/ST candidates

Eligibility

The main conditions for eligibility include

  1. Student must be an Indian National
  2. Secured admission to a higher education course in India or entrance test or selection process after completion of HSC (10 plus 2 or equivalent)

Quantum of loan

  1. Studies in India : Maximum Rs. 10.00 Lac
  2. Studies Abroad : Maximum Rs. 20.00 Lac

Security

  1. For loan upto Rs.7.50 lac
    - Co-obligation of Parents.
    -No Security or third party guarantee.
  2. All the loans upto Rs. 7.50 lacs under UCO Education loan Scheme should be covered under Credit Guarantee Fund Scheme for Education Loan (CGFSEL).
  3. For loans above Rs. 7.50 lac
    -Co-obligation of parents, tangible collateral security equivalent to full value of loan

Margin

  1. Upto Rs. 4 Lac - Nil
  2. Above Rs. 4 Lac Studies in India - 5%
  3. Studies Abroad - 15%

Insurance

Group Life Insurance Cover Scheme for Educational Loan Borrowers to cover the outstanding loan in case of accidental or natural death of borrower

Processing Charge

There are no processing charges

Disbursement

Disbursement in stages as per the requirement directly to institutions.

Rate of Interest

  1. Upto Rs 7.50 lacs :- UCO Float Rate + 2.15%
  2. Above Rs.7.50 lacs :- UCO Float Rate + 2.55%

Repayment Period

15 years (180 EMI) for all categories of loan after moratorium period

Repayment holiday / Moratorium Period

Course period + 1 year after completion of studies for all categories.

For more details, please contact nearest branch.

Click here for FAQ

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Objective

Providing financial support at preferential terms to students who have secured admissions in premier educational Institutes of the country and abroad.

Click here for List of eligible Institutes

Courses eligible

Regular full-time Degree/ Diploma courses and Part-time courses offered by Institutes eligible under the scheme, admission in which is obtained through an Entrance Test/Selection Process/ Percentage of marks as prescribed by the Institute would be allowed.

Age Limit

Age limit for General - 38 yrs.
Age limit for SC/ST - 40 yrs.

Quantum of Finance

Maximum loan amount Rs. 30 lacs (inclusive of group credit life insurance premium) subject to ceilings for different categories of Institutes as under:

Category of Educational Institutes Maximum Loan Amount

List 'A'

Rs. 30 lacs

List 'B'

Rs. 20 lacs

List 'C'

Rs. 15 lacs

Margin

Up to Rs. 4 lacs : No Margin.
Above Rs. 4 lacs : 5 % of total fee i.e. Course fee and other expenses.

Insurance

Group Life Insurance Cover Scheme for Educational Loan Borrowers to cover the outstanding loan in case of accidental or natural death of borrower

Security

Category of Educational Institutes No Security, only Parent/ Spouse/ Guardian as co-borrower With tangible collateral of full value and Parent/Spouse/ Guardian as co-borrower

List 'A'

Rs. 20 lacs

Over Rs. 20 lacs to Rs. 30 lacs

List 'B'

Rs. 15 lacs

Over Rs. 15 lacs to Rs. 20 lacs

List 'C'

Rs. 10 lacs

Over Rs. 10 lacs to Rs. 15 lacs

In case of married person, co-obligator can be spouse or the Parent(s)/ Parent(s)-in-law. Parental co-obligation can also be substituted by a suitable third party guarantee acceptable to the Bank.

For Foreign Study

PARTICULARS

GUIDELINES

Maximum Loan Amount

Rs. 30.00 lacs

Institute/University

The Institute/University must be ranked in World Top-150 universities as per www.webometrics.info as on the date of application.

Courses

Eligible for Post graduate, Post graduate diploma, Doctoral, Post-doctoral studies only.
Eligible for Engineering & Technology, Medicine, Management & Law streams only.

Security

Up to 15 lac - No Security Only parent/ spouse/ guardian as co-borrower.
Over 15 Lac - With tangible collateral of full value and parent/ spouse/ guardian as co-borrower.

Other Conditions

As per Scheme applicable for studies in India.

Repayment

Repayment of the loan will be maximum 180 equated monthly installments (EMIs*). (i.e. 15 years maximum)

Rate of Interest

UCO Float Rate + 1.30%

Processing Charge

No processing/ upfront charges.

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Objective

Providing financial support at preferential terms to students who have secured admission in 8 premier educational institutes in the country.

Eligible Institutes

  1. Indian Institute of Management, Ahmedabad
  2. Indian Institute of Management, Bangalore
  3. Indian Institute of Management, Kolkata
  4. Indian Institute of Management, Indore
  5. Indian Institute of Management, Lucknow
  6. Indian Institute of Management, Kozhikhode
  7. Xavier Labour Relation Institute, Jamshedpur
  8. Indian School of Business, Hyderabad

Courses Eligible

Regular full-time Degree/ Diploma courses.

Minimum Age

Age limit for General - 38 yrs.

Age limit for SC/ST - 40 yrs.

Quantum of Finance

Maximum loan amount Rs. 30 lacs (inclusive of group credit life insurance premium).

Margin

NIL

Moratorium Period

Course period + 1 year after completion of study.

Rate of Interest

UCO Float Rate + 0.15%

  1. Simple interest to be charged during the Repayment holiday/ Moratorium period.
  2. Servicing of interest during moratorium period is optional. Accrued interest will be added to the principal amount borrowed while fixing EMI for repayment.
  3. Penal interest @2% p.a. to be charged on overdue amount for the overdue period only for limits above Rs. 4 Lacs.

Processing Charges

NIL

Security

No Security.

Repayment

Repayment of the loan will be in maximum 180 equated monthly installments (EMIs*) i.e. 15 years after repayment holiday/moratorium period.

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Objective

To cater the financial needs of students pursuing Medical Courses in India and studies abroad.

Eligible

Studies in India

Approved Medical courses leading to graduate/post graduate degree and PG diplomas conducted by Colleges/Universities recognized/permitted by Medical Council of India (MCI).

Studies Abroad

  1. Graduation: For job oriented professional/technical courses offered by reputed universities.
  2. Post-Graduation: MCA, MBA, MS etc.
  3. Courses conducted by CIMA-London, CPA in USA etc.
  4. Degree/diploma courses like aeronautical, pilot training, shipping etc. provided these are recognized by competent regulatory bodies in India/abroad for the purpose of employment in India/abroad.

All existing courses up to world ranking 2500 shall be considered for studies abroad. World ranking of Institutes/Universities as available in the website www.webometrics.info to be referred for the purpose.

Age limit

Maximum Age Limit :

  1. 28 years for Graduation and 30 years for Post-Graduation/Post Graduation Diploma for General/OC candidates.
  2. 30 years for Graduation/Diploma and 33 years for post-graduation for SC/ST candidates.

Eligibility

The main conditions for eligibility include

  1. Student must be an Indian National
  2. Secured admission to a higher education course in India or entrance test or selection process after completion of HSC (10 plus 2 or equivalent)

Quantum of loan

  1. Studies in India
    • Minimum Rs. 10 lac
    • Maximum Rs. 75 lac
  2. Studies Abroad
    • Minimum Rs. 20 lac
    • Maximum Rs. 75 lac

Security

  • Co-obligation of parents
  • Tangible collateral security of 125% of Loan Amount

Margin

10%

Processing Charge

Processing Fee of 0.50 % of Loan amount subject to maximum of Rs.10,000 + applicable GST

Disbursement

Disbursement in stages as per the requirement directly to institutions.

Rate of Interest

UCO Float Rate + 2.15%

Repayment Period

15 years (180 EMI) for all categories of loan after moratorium period

Repayment holiday / Moratorium Period

Course period + 1 year after completion of studies for all categories.

For more details, please contact nearest branch.

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Objective

Skill Loan Scheme aims at providing a loan facility to individuals who intend to take up skill development courses.

Courses Eligible

Course run by Industrial Training Institutes (ITIs), Polytechnics or in a school recognized by central or State education Boards or in a college affiliated to recognized university, training partners affiliated to National Skill Development Corporation (NSDC)/Sector Skill Councils, State Skill Mission, State Skill Corporation, preferably leading to a certificate / diploma / degree issued by such organization as per National Skill Qualification Framework (NSQF) is eligible for a Skilling Loan.

Minimum Age

No minimum age.

Quantum of Finance

  1. Minimum: 5,000/- and
  2. Maximum: 1,50,000/-

Margin

NIL

Moratorium Period

  1. For courses of duration upto 1 year - 6 months from the completion of the course.
  2. For courses of duration above 1 year - 12 months from the completion of the course.

Rate of Interest

UCO Float Rate + 1.65% p.a. (simple interest during moratorium period).

  1. Simple Interest will be charged during the course period and up to commencement of repayment.
  2. Servicing of interest during study period and the moratorium period till commencement of repayment is optional for students.
  3. 1% interest concession may be provided by the Bank, if interest is serviced during the study period and subsequent moratorium period prior to commencement of repayment.

Processing Charges

NIL

Security

No collateral or third party guarantee will be taken. However, the parent will execute loan document along with the student borrower as joint borrower.

Credit guarantee coverage by NCGTC at nominal fee of 0.50% of the amount outstanding. This guarantee fee will be borne by the Bank.

Repayment

  1. Loans upto Rs. 50,000 - Upto 3 years
  2. Loans between Rs. 50,000 to Rs.1 lakh - Upto 5 years
  3. Loans above Rs. 1 lakh - Upto 7 years

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Personal Loan

UCO Cash Personal LoanTo extend financial assistance to certain segment to meet expenses like marriage, education, social obligations, Agricultural needs etc.

Eligibility

Applicant should be a Permanent/Confirmed Employee & has completed minimum 2 years of service in the same organization.

Borrowers must have Salary Account with our Branches.

Income Criteria

Net take home pay should not be less than 40% of gross salary after deduction of PF, IT and other statutory deductions including proposed EMI of UCO Cash Loan, loans granted by his employer and any other loans, if any. Subject to minimum Rs 10,000/-.

Other income like rent, interest, dividend etc. may be taken into account for reckoning the eligible quantum of loan subject to documentary evidence like IT Returns etc

Quantum of loan

10 times of Gross monthly Income subject to maximum 10.00 Lacs

Security

No collateral security required.

Insurance

Insurance coverage is not mandatory

Rate of Interest

  1. For Men :- UCO Float Rate + 3.15% p.a.
  2. For Women :- UCO Float Rate + 2.90% p.a.

Repayment

Maximum in 60 monthly instalments.

Processing Charge

1% of loan amount (minimum Rs.750/-)

For more details, please contact nearest branch.

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Pensioner LoansPensioners who receive pension through our Bank Branch and Ex-employees of our Bank, drawing pension through UCO Bank Branch shall also be eligible

Purpose

  1. Medical Exp. For self/spouse/dependent children
  2. Payment of Mediclaim premium for self & dependents
  3. Marriage expenses in the family
  4. Educational expenses of dependent children
  5. Traveling expenses.
  6. Repairs to house property/dwelling.
  7. Funeral expenses.
  8. Agricultural needs

Quantum of loan

  1. For Pensioners having provision of family pension & Spouse is alive:
    • 12 times of monthly pension subject to:
      • Maximum Rs. 10.00 lacs for age up to 70 years
      • Maximum Rs. 5.00 lacs for age above 70 years to 74 years
  2. For the following Categories of customers:
    • Family pensioners i.e. Spouse receiving pension after death of the Pensioners.
    • Pensioners without family pension provision
    • Pensioners where spouse is predeceased.

    10 times of monthly pension subject to maximum of Rs. 3 lacs

Processing Charges

There is no processing charge or service charge.

Rate of Interest

For Public: UCO Float Rate + 3.30%

For UCO Bank Staff Pensioners: UCO Float Rate + 2.30%

Repayment

Loan to be fully repaid before the pensioner reaches 75 years of age and no new loan to be sanctioned after the age of 74 years.

  1. Maximum in 48 monthly installments.
  2. For Pensioners having provision of family pension & Spouse is alive: Repayment Period of the loan be so fixed that the loan is fully repaid before the pensioner reaches 75 years of age. However, the maximum age, at the time of applying for the loan, not to exceed 74 years.
  3. For the following Categories of customers: Loan should be repaid in 48 EMIs or before the Pensioner reaches 72 years of age, whichever is earlier
    • Family pensioners i.e. Spouse receiving pension after death of the Pensioners.
    • Pensioners without family pension provision
    • Pensioners where spouse is predeceased.

Prepayment Charge

No pre-payment charge is levied.

Guarantee

  1. Personal Guarantee of spouse eligible to receive family pension in the event of death of the pensioner.
  2. In case of war widow/widows if co-borrower is not available, a third-party guarantee having sufficient income

For more details please contact nearest UCO Bank branch

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An easy finance scheme for purchase of consumer durablessuch as Television, Refrigerator, Air Conditioner, Computer or any other Electrical or Electronics gadgets etc.

Eligibility

  1. Existing customer of UCO Bank for a minimum period of six months
  2. A self-employed/Professional/Businessman or A permanent employee of Govt. / SemiGovt./PSU/Universities or reputed private concerns with minimum service of 1 year and minimum remaining 5 years service period.

Income Criteria

  1. Salaried borrower
    1. Minimum gross salary of Rs.30000/-p.m at Metro Centres and Rs.20000/-p.m for other centres.
    2. Minimum take home income of 40% p.m. after all deductions and EMI of the proposed loan or Rs.10000/-whichever is higher.
  2. Non-salaried borrower
    1. Minimum income of Rs. 4 lac p.a at all centres as per latest IT Return.
    2. Minimum 40% surplus after considering EMI of proposed Loan and Income Tax and any other obligations or Rs.10000/- whichever is higher.

Age Criteria

  1. Salaried Borrower : 21 to 60 years
  2. Non-Salaried Borrower : 21 to 65 years

Amount of Loan

Maximum Loan Amount Rs.200000/- or 10 times of monthly take home pay whichever is less.

Processing Charge

1.00% of the loan amount with MinimumRs.1000/-

Margin

20% of the total article cost

Repayment

Maximum 60 Equated Monthly Installments.

Rate of Interest

  1. In case of Salary tie-up arrangement or Loan secured by 100% liquid collateral security – UCO Float Rate + 1.30%
  2. All other cases - UCO Float Rate + 2.30 %

Prepayment Charges

No pre-payment charges.

For more details please contact nearest UCO Bank branch.

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Under the scheme credit facilities are extended to borrowers against financial securities issued by Central Govt./State Govt./RBI in the form of National Savings Certificates, Kisan Vikas Patra, Govt. Securities and Relief Bonds. Loans are also available against Life Insurance Policies of Life Insurance Corporation of India and bonds/debentures issued by specific Public Financial Institutions.

Eligibility

  1. The securities should be in the name of the borrower or any one of the joint borrowers.
  2. The securities should be transferable and can be assigned/pledged in favor of the Bank or transferred in the name of the Bank.

Margin

Margin will be on the discounted value of the maturity proceeds (not the face value) of the financial security discounted at Base Rate.

Nature of Facility

Demand Loan, Overdraft, Cash Credit

Rate of Interest

UCO Float Rate + 3.40%

Repayment

Remaining period of maturity (maximum 5 years).

Processing Charges

Rs.250 per case

For more details, please contact your nearest UCO Bank branch.

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Type of Loan

Demand Loan

Objective/Purpose

To enable Borrowers in Rural/ Semi-urban/Urban/Metropolitan areas to avail of easy and instant credit facilities for the purpose which are categorized as Priority Sector Activities like Agriculture, Retail Trade, Small Business, Micro & Small Enterprises, Education , Housing etc.

Eligibility

  1. Loan against security of gold ornaments can be made to all Borrowers who would avail such loan for Agriculture & Allied Activities, Activities related to Micro & Small Enterprises, Retail Trade, Housing, Education etc.
  2. Necessary declaration from the eligible borrowers will be required to be obtained specifying the purpose of such loan at the time of sanction.

Margin

  1. Loan against security of gold ornaments can be made to all Borrowers who would avail such loan for Agriculture & Allied Activities, Activities related to Micro & Small Enterprises, Retail Trade, Housing, Education etc.
  2. Necessary declaration from the eligible borrowers will be required to be obtained specifying the purpose of such loan at the time of sanction.
  3. A margin of 25% is to be maintained on the market price of the gold.

Amount of loan to be sanctioned per Gram of Gold

Maximum amount that can be sanctioned per gram of standard gold will be decided by Head Office fortnightly and will be dully communicated to the Zones/Branches .

Assesse/Testing of Gold Ornaments

  1. All gold ornaments before being accepted as security should be apprised by an experienced Gold Smith for its weight, purity and fineness.
  2. For this purpose a Gold smith having good reputation for his professional skill and undoubted integrity should be identified by conducting discreet enquiries.

Rate of Interest

S.No Purpose Rate of Interest
1. Gold Loan (PS) for Retail Assets Products UCO Float Rate+0.35%
2. Gold Loan (PS) for Non Agriculture Purpose (Bullet Repayment)
3. Gold Loans (NPS) for Retail Assets Products UCO Float Rate +3.30%
4. Gold Loan (NPS) for Non Agriculture Purpose (Bullet Repayment)

Service Charges

(A) For Priority Sector

  1. Upto Rs. 10 Lac : Rs. 250/-
  2. Above Rs. 10 Lac : Rs. 500/-

(B) For Non Priority Sector

  1. Upto Rs. 5 Lac : Rs.500/-
  2. Above Rs. 5 Lac to Rs. 10 Lac: Rs.1000/-
  3. Above Rs.10 Lac @0.20% on quantum of loan subject to a maximum of Rs.5000/-.

For Further details contact nearest branch.

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