To 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
- For Men :- UCO Float Rate + 3.40% p.a.
- For Women :- UCO Float Rate + 3.15% p.a.
Repayment
Maximum in 60 monthly instalments.
Processing Charge
1% of loan amount (minimum Rs.750/-)
For more details, please contact nearest branch.
