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.
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
Purchase and construction of independent house/ready built flat for residential purpose.
Extension/Repair/Renovation of existing house/flat not more than 50 years old.
Takeover of home loans availed from other banks/FIs.
Loan is also available for furnishing of house property.
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 :
On the basis of purpose/Cost:
90%(loan up to Rs 30 lacs),
80%(loan above Rs 30 lacs to Rs 75 lacs) or
75% (loan above Rs 75 lacs) of the project cost of construction or purchase price of house/flat as per agreement for sale.
On the basis of monthly income vis-a-vis EMI :
For Indian Residents:
GMI up to Rs.50,000/- - 60% of GMI
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/-)
GMI above Rs.1,00,000/- -75% of GMI (subject to minimum monthly take home pay of Rs.30,000/-)
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
775 & Above
-
UCO Float Rate @ 6.90%
Above 750
0.25%
UCO Float Rate+ 0.25%
Up to 750
0.35%
UCO Float Rate + 0.35%
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
EMTD of property financed.
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
The assets created under UCO Home Loan should be insured with any General Insurance Channel Partner comprehensively against fire and natural calamities.
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.
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.
On the basis of purpose/Cost:
90%(loan upto Rs 30 lacs),
80%(loan above Rs 30 lacs to Rs 75 lacs) or
75% (loan above Rs 75 lacs) of the project cost of construction or purchase price of house/flat as per agreement for sale.
On the basis of monthly income vis-a-vis EMI :
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 :
For Indian Residents:
GMI up to Rs.50,000/- - 60% of GMI
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/-)
GMI above Rs.1,00,000/- -75% of GMI (subject to minimum monthly take home pay of Rs.30,000/-)
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
775 & Above
-
UCO Float Rate @ 6.90%
Above 750
0.25%
UCO Float Rate+ 0.25%
Up to 750
0.35%
UCO Float Rate + 0.35%
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:
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.
This processing fee is non-refundable and will be adjusted based on the prevailing terms & conditions as on date of actual sanction.
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 :
All Home Loans borrowers with regular repayment record of at least 36 installments after moratorium.
No overdue in existing Home Loan account
Valid mortgage have been created in favour of the Bank.
Quantum of loan :
Term Loan:
Minimum: Rs. 1 lac
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+1.80
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.
This is an easy finance scheme for purchase of a new car as well as second hand vehicle not older than 5 years.
Target Group
Salaried Group
Regular Employee with minimum 6 months completed service.
Non-salaried Group
Established professionals & Self Employed, Businessmen
Farmers and Agriculturists.
Business Concerns (Corporates & Non Corporates)
Ex-staff and Pensioners
NRIs
Income Criteria
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.
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.
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.
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
New Car: 15% for new vehicle
Pre-used Car:
20% of Valuation in case of reputed certified car dealers for pre used cars. Vehicles up to 5 years old are eligible.
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
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.
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
For New Car
UCO FLOATRATE+0.80
For preused Car purchased from Certified Car Dealer
For Purchase of Pre-used Car of not more than 5 years.
Rate of Interest
Category of Car
New
Pre-used
UCO Float Rate+0.30%
UCO Float Rate+1.40% p.a. if purchased from Certified Car Dealer like True Value, First Choice etc.
UCO Float Rate+1.90% p.a. for all others
Other terms & conditions
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.
The facility is not available to those borrowers whose home loan accounts have been restructured/rescheduled during the tenure of the loan.
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.
This is an easy finance scheme for purchase of a new two wheeler.
Income Criteria
Salaried borrower
Minimum gross salary of Rs.8000/-p.m
Minimum take home income of 40% p.m. after taking into account the EMI of the proposed loan.
Non-salaried borrower
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.
40% take home pay shall be ascertained.
Agricultural Borrower- Self-declaration of income to the satisfaction of Sanctioning Authority.
Age Criteria
Salaried Borrower : 21 to 55 years
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 Rate + 4.80
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.
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.
Credit facility for Personal expenditure of varied needs like medical emergencies, travelling expenses, social obligations etc.
Nature of facility
Term Loan OR
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 :
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.
This 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.
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.
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)
Providing financial support at preferential terms to students who have secured admission in 8 premier educational institutes in the country.
Eligible Institutes
Indian Institute of Management, Ahmedabad
Indian Institute of Management, Bangalore
Indian Institute of Management, Kolkata
Indian Institute of Management, Indore
Indian Institute of Management, Lucknow
Indian Institute of Management, Kozhikhode
Xavier Labour Relation Institute, Jamshedpur
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 + 0.40%
Simple interest to be charged during the Repayment holiday/ Moratorium period.
Servicing of interest during moratorium period is optional. Accrued interest will be added to the principal amount borrowed while fixing EMI for repayment.
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.
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
Graduation: For job oriented professional/technical courses offered by reputed universities.
Post-Graduation: MCA, MBA, MS etc.
Courses conducted by CIMA-London, CPA in USA etc.
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 :
28 years for Graduation and 30 years for Post-Graduation/Post Graduation Diploma for General/OC candidates.
30 years for Graduation/Diploma and 33 years for post-graduation for SC/ST candidates.
Eligibility
The main conditions for eligibility include
Student must be an Indian National
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
Studies in India
Minimum Rs. 10 lac
Maximum Rs. 75 lac
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 + 0.40%
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.
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
Minimum: 5,000/- and
Maximum: 1,50,000/-
Margin
NIL
Moratorium Period
For courses of duration upto 1 year - 6 months from the completion of the course.
For courses of duration above 1 year - 12 months from the completion of the course.
Simple Interest will be charged during the course period and up to commencement of repayment.
Servicing of interest during study period and the moratorium period till commencement of repayment is optional for students.
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
Loans upto Rs. 50,000 - Upto 3 years
Loans between Rs. 50,000 to Rs.1 lakh - Upto 5 years
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
Pensioners who receive pension through our Bank Branch and Ex-employees of our Bank, drawing pension through UCO Bank Branch shall also be eligible
Purpose
Medical Exp. For self/spouse/dependent children
Payment of Mediclaim premium for self & dependents
Marriage expenses in the family
Educational expenses of dependent children
Traveling expenses.
Repairs to house property/dwelling.
Funeral expenses.
Agricultural needs
Quantum of loan
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
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 General Public: UCO Float Rate + 3.55%
For UCO Bank Staff Pensioners: UCO Float Rate + 2.55%
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.
Maximum in 48 monthly installments.
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.
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
Personal Guarantee of spouse eligible to receive family pension in the event of death of the pensioner.
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
An easy finance scheme for purchase of consumer durablessuch as Television, Refrigerator, Air Conditioner, Computer or any other Electrical or Electronics gadgets etc.
Eligibility
Existing customer of UCO Bank for a minimum period of six months
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
Salaried borrower
Minimum gross salary of Rs.30000/-p.m at Metro Centres and Rs.20000/-p.m for other centres.
Minimum take home income of 40% p.m. after all deductions and EMI of the proposed loan or Rs.10000/-whichever is higher.
Non-salaried borrower
Minimum income of Rs. 4 lac p.a at all centres as per latest IT Return.
Minimum 40% surplus after considering EMI of proposed Loan and Income Tax and any other obligations or Rs.10000/- whichever is higher.
Age Criteria
Salaried Borrower : 21 to 60 years
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.
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
The securities should be in the name of the borrower or any one of the joint borrowers.
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 + 3.65%
Interest Rate on Advances
Rate
Effective From
Base Rate
9.70%
05.10.2015
BPLR
14.25%
05.10.2015
Repayment
Remaining period of maturity (maximum 5 years).
Processing Charges
Rs.250 per case
For more details, please contact your nearest UCO Bank branch.
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
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.
Necessary declaration from the eligible borrowers will be required to be obtained specifying the purpose of such loan at the time of sanction.
Margin
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.
Necessary declaration from the eligible borrowers will be required to be obtained specifying the purpose of such loan at the time of sanction.
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
All gold ornaments before being accepted as security should be apprised by an experienced Gold Smith for its weight, purity and fineness.
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 Loans (PS) for Retail Assets Products
Merged into one scheme under Retail (Gold) with applicable ROI UCO Float(6.90%) + 1.60% = 8.50%
2.
Gold Loan (NPS) for Retail Assets Products
Service Charges
(A) For Priority Sector
Upto Rs. 10 Lac : Rs. 250/-
Above Rs. 10 Lac : Rs. 500/-
(B) For Non Priority Sector
Upto Rs. 5 Lac : Rs.500/-
Above Rs. 5 Lac to Rs. 10 Lac: Rs.1000/-
Above Rs.10 Lac @0.20% on quantum of loan subject to a maximum of Rs.5000/-.
