About UCO Bank Personal Loan

Formerly known as United Commercial Bank, UCO bank was established in Kolkata, India, in 1943. It’s a major government-owned commercial bank which was ranked 1860 on the Forbes Global 2000 list in 2014. As it’s essentially a commercial bank, giving advances and loans is one of its primary activities. UCO bank offers a personal loan product called UCO Cash to salaried employees. The loan amount can be used for meeting any immediate financial need such as payment for medical treatment, social obligation, education expense, vacation expense etc. The offered interest rate is normally pretty competitive and there are fewer fees and charges applied on the loan, a reason why a great multitude of people seek UCO Bank personal loans each year. Following are more details on the eligibility criteria, features and fees/charges associated with UCO Bank personal loan.

Personal Loan Eligibility Criteria for Salaried / Self-Employed

In order to apply for UCO Bank personal loan, you should be a confirmed employee in a public sector undertaking / college / university / or a reputed private limited / public / semi-government / government company. Your employment should be permanent in nature and you should have completed at least two years of service in the organisation. Apart from that, your salary should come through a salary account in any of the UCO bank branches. Your employer should also provide an undertaking that a monthly instalment will be deducted from your salary and paid directly to the bank. Your net take-home salary should not be less than 40% of your gross pay, after making all the deductions including the monthly EMI payment. Following are the precise UCO bank personal loan eligibility criteria you should know about.

18 – 65 years

Age (Min – Max)

4k – 65k

Minimum Income (Metro Cities)

4k – 65k

Minimum Income (Other Cities)

18 – 65 years

Age (Min – Max)

4k – 65k

Minimum Income (Metro Cities)

4k – 65k

Minimum Income (Other Cities)

4k – 65k

Minimum Income (Doctors/ Chartered Accountants)

4k – 65k

Minimum Income (Company Secretary / Architect)

4k – 65k

Minimum Income Self Employed (Businessman)

UCO Bank Personal Loan Features / Details

UCO Bank is very transparent about its offerings and requires no collateral security for availing their personal loan. The interest rate charged might vary from time to time and is usually relaxed a bit for women. The loan repayment can be made in a maximum of 60 months. You can seek a maximum loan amount of INR 10 lakh. Below mentioned are more details related to features of UCO bank personal loan.

18.25%

Interest Rate (Min)

Upto XX Years.

Loan Tenure

25k – 50Lacs

Loan Amount (Min – Max)

UCO Bank Personal Loan Fees / Charges

All UCO Bank personal loan applications are subjected to a processing fee of 1% of the loan amount (minimum INR 750). Following are the exact details on other pertinent fees / charges like foreclosure charges, prepayment charges, part payment charges etc.

2.4% of Loan Amount.

Processing Fees

2.4% – 5.2% of amount prepaid.

Pre-payment Charges

Yes / No

Part Payment Facility

2000

Part Payment Processing Fees