UCO Bank Personal Loan- Loan up to 15 Lakh

The Complete Guide to UCO Bank Personal Loan- Loan up to 15 Lakh.

UCO bank personal loan is a type of loan that is offered by the bank. It provides a way for people to borrow money from the bank. The loan comes with a fixed interest rate, and it can be repaid over 5 years.

The bank offers both types of loans, depending on the borrower’s needs.

UCO Bank Personal Loan Quick Recap

 Interest rate 10.05%- 10.45% p.a.
 Loan Amount Up to 15 lakh
 Loan Tenure Up to 5 years
 Age 21 to 58 years
 Processing Fees 1% of the Loan Amount
 Eligible For Self-Employed / Salaried Person

Documents Required For UCO Bank Personal Loan

UCO Bank Personal Loan is a loan that is provided to individuals who are looking for a way to improve their financial condition. The bank provides loans of different amounts and interest rates.

The documents required for UCO Bank Personal Loan include:

  • Applicant’s ID card
  • Latest 6 month’s bank statement
  • The latest proof of income such as pay slips or tax returns
  • Proof of residences such as electricity bill or water bill or phone bill
  • Aadhaar Card
  • Pan Card
Also Read: Hero Fincorp Personal Loan

Types of UCO Bank Personal Loan

UCO Cash

Eligibility• You must be a permanent employee who has worked for an organization for at least two years
• You must have a salary account with UCO Bank
Income RequiredAfter deducting PF, IT, and other statutory deductions, including the anticipated EMI of the UCO Cash Loan, loans issued by his employer, and any other loans, if, net take-home pay should not be less than 40% of gross salary. A minimum of Rs 10,000/- is required.
Loan amount10 times gross monthly income, with a minimum of Rs.10 lakh
SecurityNot required
Interest Rate10.05% per annum for women and 10.30% per annum for men
Repayment tenureUp to 5 years
Processing fee1% of the loan amount, subject to a minimum of Rs.750

UCO Pensioner Loan

Eligibility• Ex-employees of UCO Bank
• Recipients of the bank’s pension
Loan amount• For seniors receiving a pension to care for family members, and if the spouse is still living, the loan amount should be 12 times the:
• A maximum of Rs.10 lakh for those under the age of 70, and a maximum of Rs.5 lakh for those between the ages of 70 and 74.  
• Ten times the pension amount, subject to a maximum of Rs.3 lakh if the pensioner does not have a family pension, if their spouse has died, or if the pensioner dies and the spouse receives the pension amount.
SecurityA personal guarantee will be needed.
Interest Rate9.45% p.a. – 10.45% p.a.
Repayment tenureUp to 4 years
Processing feeNil
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UCO Shopper Loan Scheme

EligibilityAn existing UCO Bank client for a minimum of six months self-employed/professional/businessman or a permanent employee of the Govt./Semi-Govt./PSU/Universities or respected private businesses with a minimum service of one year and a minimum remaining service time of five years
Loan amountThe maximum loan amount is Rs.200000/- or ten times the monthly take-home income, whichever is smaller.
Income RequiredSalary Person
Minimum gross pay of Rs.30000/- per month in Metro Centres and Rs.20000/- per month at other centers.The minimum take-home pay of 40% p.m. after all deductions and the proposed loan’s EMI or Rs.10000/-, whichever is greater.
Self Employed Person
According to the most recent IT Return, all centers must have a minimum annual income of Rs. 4 lac. After deducting the planned loan EMI, income tax, and any other commitments, the minimum surplus is 40%, or Rs.10000/-, whichever is greater.
Age CriteriaSalaried Persona- 21 to 60 yearsSelf Employed-  21 to 65 years
Repayment tenureUp to 5 years
Processing fee1.00% of the loan amount with a minimum of Rs.1000/-
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UCO Securities

Eligibility• The securities must be registered in the name of the borrower or joint borrowers.
• Securities should be transferable and titled in the bank’s favor.
Nature of facilityOverdraft, cash credit, or demand loan
SecurityBonds, National Saving Certificates, Life Insurance Policies, etc.
Rate of interest10.55% per annum
Repayment tenureUp to 5 years
Processing feeRs.250 per case

UCO Gold Loan Scheme

Eligibility RequiredBorrowers who use this loan will use it for agricultural and allied operations, as well as activities relating to MSME, retail commerce, education, housing, and so on.
Facility’s natureDemand loan
SecurityGold jewelry or ornaments
Interest Rate8.50% per annum
Repayment tenureThe bank’s decision is final.
Service chargeFor Priority Sector
– Up to Rs. 10 Lac: Rs. 250/-Above Rs. 10 Lac: Rs. 500/-
For Non-Priority Sector
– Up to Rs. 5 Lac: Rs.500/-Above Rs. 5 Lac to Rs. 10 Lac: Rs.1000/-
– Above Rs.10 Lac @0.20% on the quantum of loan subject to a maximum of Rs.5000/-.

UCO Bank Personal Loan Interest Rate

The interest rates for the various forms of personal loans given by UCO Bank are as follows:

UCO Cash

For Men6.90% + 3.40% p.a.
For Women6.90% + 3.15% p.a.

UCO Pensioner Loan

For General Public6.90% + 3.55%
For UCO Bank Staff Pensioners6.90% + + 2.55%

UCO Shopper Loan Scheme

Salary Tie-up/100% Liquid Security6.90% + 1.55%
Other Cases6.90% + + 2.55%

UCO Securities

Interest Rate For All6.90% + 3.65%
Also Read: Paysense Personal Loan Apply

UCO Gold Scheme

Products for Retail Assets Gold Loans (PS)
Merged into a single scheme under Retail (Gold) with the following ROI: 6.90%+ 1.60% = 8.50%
Retail Assets Products Gold Loan (NPS)Merged into a single scheme under Retail (Gold) with the following ROI: 6.90%+ 1.60% = 8.50%