UCO bank offers personal loan to its clients and other loan-seekers, who satisfy UCO Bank Personal Loan eligibility norms, at an easy UCO Bank Personal Loan interest rate. Their personal loan is offered under name, UCO cash. We at money superbazaar provide you adequate information about this loan, as per the bank’s official website and other UCO Bank Personal Loan review given by market researchers.

UCO Bank Personal Loan Interest Rate:

Based on a UCO Bank Personal Loan rate, known as base rate that is determined by bank, UCO Bank Personal Loan is available to potential borrowers at UCO Bank Personal Loan interest rate. This UCO Bank Personal Loan rate, currently is at 9%

Hence, Bank Personal Loan interest rate is 14.40%

UCO Bank Personal Loan Eligibility:

It is offered to those borrowers, who fulfill bank’s UCO Bank Personal Loan eligibility, and wish to meet expenses of marriage, travel other kinds of social obligations with ease, at an easy and convenient UCO Bank Personal Loan rate.

To be eligible for this loan, a loan-seeker must have had at least 3 years of service behind him, or he should be a permanent employee with:

a)    Government (state/central)

b)    PSUs

c)    Reputed companies/reputed profit-making organizations, etc

d)    Loan-seeker must have a minimum take-home salary, should be 40% of gross salary, after all deductions made, including EMI deduction of this loan.

Quantum Of UCO Bank Personal Loan:

Maximum amount of loan that can be sanctioned to loan-seekers, who fulfill bank’s UCO Bank Personal Loan eligibility is: 90% of proposed expenditure or Rs.2lacs, whichever is lower.

However, UCO Bank Personal Loan review states that additional amount can be sanctioned, within above quantum ceiling, available at same UCO Bank Personal Loan rate stated above.

Procedure To Be Followed While Applying For UCO Bank Personal Loan:

An interested loan-seeker can approach their nearest bank branch for further information.

 An important feature to be noted, according to UCO Bank Personal Loan review, is that presence of two guarantors is a must, i.e. loan-seeker’s spouse and a person other than spouse, with an income equal to that of applicant. Loan-processing charge is 1% of loan amount sanctioned or Rs.750, whichever is more.

Time taken to get this loan processed is 7 days.

Tenure Of UCO Bank Personal Loan:

Loan payment tenure of this UCO Bank Personal Loan, according to UCO Bank Personal Loan review is of 4 years.

Repayment Of UCO Bank Personal Loan:

Loan-borrowers can repay their loan amount within a period of 4 years in 48 equated monthly installments. Repayment of EMIs has to be through direct deduction from monthly salary. However, loan repayment has to be done before one year of retirement.

Pre-Closure Of UCO Bank Personal Loan:

If loan-borrower seeks to pre-close his/her loan, then pre-payment charges stand at a maximum of 0.03% and a maximum of 2.82% on pre-paid amount of loan. For more information, refer to http://www.ucobank.com/service_charges.htm

Product page URL:     http://www.ucobank.com/loan.htm#UCOCASH

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