UCO Bank Personal Loan


UCO Bank provides personal loans starting from an interest rate of 12.45% - 12.85% p.a. for loan amounts up to Rs 15 lakhs. UCO bank provides exclusive features and advantages, competitive interest rates, etc.The personal loans & the hassle-free application processes have quick loan approval rate that make it a convenient choice for those seeking financial assistance. Now make the most of UCO Bank Personal loan its interest rates & offers.

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UCO Bank Online Personal Loan Details

Before we get into the details, let’s go through some highlights of UCO Bank Personal Loan from the table below:

Interest Rate 12.45% - 12.85%
Loan Amount Up to Rs 15 Lakh
Tenure Central/State - upto 7 years, Govt. employees - upto 5 years, Pensioners - upto 4 years
Processing Fee 1% of the loan amount

Table of Contents - UCO Bank Personal Loan

UCO Bank Personal Loan Interest Rates & Charges

Now more than ever, get quick financial solutions with easy loan availability and competitive interest rates.UCO Bank Personal loan approves loans with just minimal paperwork. Free yourself from financial burdens with facilities provided by UCO Bank personal loan & its’ interest rates.

Refer the table below to know the special schemes that UCO bank offers:

UCO Bank Personal loan Schemes Interest Rate Processing Fees
UCO Cash 10.05% to 10.30% p.a 1% of the loan amount (min. Rs.750)
UCO Pensioner Loan 12.85% p.a. NIL
UCO Shopper Scheme Loan 8.40% p.a. to 9.40% p.a. 1% of the loan amount (min. Rs.1,000)
UCO Securities UCO Float Rate + 3.65% Rs.250 per case
Note: The current rates may vary marginally and are inclusive of other charges.

Types of UCO Bank Personal Loan & Features

UCO Bank offers various types of personal loans to cater to different financial needs. Some of the types of personal loans offered by UCO Bank include:

UCO Cash: UCO cash provides financial assistance to cover for expenses like marriage, education, agricultural needs, etc.

UCO Pensioner Loan: UCO pensioner loan provides financial assistance to cover medical expence, wedding expenses along with travel expenses, eductaional expenses of dependenet children etc.

UCO Shopper Scheme Loan: UCO shopper scheme loan provides an easy finance scheme for purchases such as TV, Refrigerator, Air Conditioner, Computer or any electrical or electronic gadgets, etc.

UCO Securities: Under the scheme, facilities are provided against financial securities issued by the Central Govt/State/Govt./RBI. This scheme is also available against the Life Insurance policies of India.

UCO Bank Personal Loan EMI Calculation

If you are planning to apply for a personal loan from UCO Bank, it is essential to calculate your Equated Monthly Installment (EMI) beforehand. You can do this using the UCO Personal Loan EMI calculator.

This tool helps you determine the amount you'll need to pay each month. Simply input the loan amount, interest rate, and loan tenure, and receive an immediate estimate of your monthly installment. By UCO Personal Loan EMI calculation, you can make well-informed financial decisions and effectively manage your budget.

₹
%
Monthly EMI ₹86
Principal Amount ₹1,000
Total Interest ₹32
Total Amount ₹1,032.00

Year Month Principal (A) Interest (B) EMI (A+B) Balance Loan Paid to Date (%)

Comparison of UCO Bank Personal Loan Vs Other Banks

Here is a comparison of UCO Bank personal loan rates along with the other banks:

Lender Interest Rates Processing Fees
UCO 12.45% - 12.85% Up to 1%
SBI 10.30%-15.10% Up to 1.50%
HDFC 11.00% onwards Up to 2.50%
ICICI 10.75% onwards Up to 2.50%

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UCO Bank Personal Loan Eligibility

When considering applying for a UCO Personal Loan, it is essential to understand the eligibility requirements set by the bank. These criteria determine whether you qualify for the loan. While specific details may vary, several key factors generally influence the Personal Loan eligibility at UBO Bank. By meeting these requirements, you increase your chances of loan approval rate & fulfill your financial needs.

The table below provides you an understanding of the basic UCO Bank personal loan eligibility criteria:

Factors General Eligibility Criteria
Age 21 yrs to 60yrs
Monthly Income Rs 10,000
Work Experience Minimum 2 year completed at the same organization

Scheme-Wise UCO Bank Personal Loan Eligibility

Here is the scheme-wise UCO personal loan eligibility criteria for better understanding of their for up-to-date information and requirements.

UCO Cash Eligibility Criteria

  • Confirmed employees of government firms, private firms, semi-government, PSUs, etc.
  • Individuals should be employed with the same firm for at least 2 years
  • Applicants should hold a salary account with UCO Bank
  • Applicants should have a net take-home salary of more than 40% after deducting income tax, PF, and other statutory deductions.

UCO Pensioner Eligibility Criteria

  • Pensioner who receive their pension through UCO Bank
  • War widows and Widows drawing a pension from UCO Bank Branch.

UCO Shopper Scheme Loan Eligibility Criteria

  • Existing customers of UCO Bank for at least 6 months
  • Self-employed, businessmen, professionals
  • Permanent employees of government, semi-government, PSUs, universities or private firms with at least 1 year of service and at least 5 years of service remaining
  • Existing customers of UCO Bank for at least 6 months
  • Salaried Applicants:

    - Minimum set salary of Rs 30,000 month for metro cities and Rs 20,000 month for others cities.

    - Minimum salake-home salary of more than 40% after month after deducting including EMI or Rs 10,000 whichever is more.

UCO Securities Eligibility Criteria

  • Anyone who holds financial securities held by state or central governments or RBI in the form of Kisan Vikas Patra, National Savings Certificate, Relief Bonds, LIC policies, etc.

Ready to take next step? Apply for a Personal loan now!

Features of UCO Bank Personal Loan

UCO Bank personal loans cater to your financial needs with competitive interest rates and flexible repayment options. Here are the features and benefits:

Minimal Paperwork

Submit minimum documents for loan approval

Quick Approval

Personal loan disbursal in minutes

Flexibility

With personal loan meet multi-varied financial needs

Interest Rates

Starting from 12.45% p.a

Loan Amount

Get loan upto 15 Lakhs

Loan Tenure

Avail loan under the most flexible loan tenure period

UCO Bank Personal Loan Documents Required

Here are the documents required when applying for a personal loan at UCO Bank :

Identity Proof

PAN Card, Voter ID, Driving License, Passport.

Income Proof

Latest salary slip, Form 16, last 6 months audited account statement, ITR returns for the last 2 years.

Address Proof

Landline Bill, Electricity Bill, Ration Card, Voter ID, Passport.

Salaried Applicants

Salary Slips of last 3 months.

One-year Employment Certificate.

Self - Employed Applicants

Last 6 months current account statements

Proof of business continuity, Certification of registration

IT returns for past 2 years,certified profit and loss statement.

Other Documents

Duly signed loan application form

Processing Fee cheque

Check-off letter from employer

4 Easy Steps to Apply for UCO Bank Personal Loan with Buddy Loan

Steps To Apply For a Personal Loan with Buddy Loan

  • Step 1: Visit buddyloan.com or Download & install the Buddy Loan app (Android or iOS).
  • Step 2: Open the Personal Loan Application Page. Provide the mobile number and enter the received OTP.
  • Step 3: Specify the desired loan amount & personal email. Next, choose the Personal Loan option
  • Step 4: Choose the employment type (Salaried, Self-Employed, or Student) and the salary mode (bank or cash).
  • Step 5: Enter your work details (Including company name, years of service and Designation)
  • Step 6: Enter your personal details (Including Full Name, PAN, address DOB & Gender)
  • Step 7: Provide your communication address, and income details and Click the ‘Submit’ button.

Ready to take next step? Apply for a Personal loan now!

Frequently Asked Questions on UCO Personal Loan

UCO Bank offers interest rate starting from an interest rate of 12.45% - 12.85%p.a.

Yes, If your annual salary is 20,000, then you're eligible for a personal loan because the monthly income requirement begins from Rs. 10,000 onwards.

Now, you can apply for a UCO Bank personal loan with Buddy loan and Experience a hassle-free loan application process.

UCO Bank Personal loan provides you a loan under the repayment period of 12 - 16 months.

The eligibility criteria for a UCO Bank Personal Loan includes factors such as age requirement , stable source of income, employment stability, good credit score, and meeting the bank's specific documentation requirements.

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