UCO Bank Personal Loan | Latest Updated Interest Rate, Check Eligibility

UCO Bank Personal Loan

The UCO Bank Personal Loan is offered to the applicants in three district variants such as UCO Pensioner Scheme, UCO Cash and UCO Shopper Loan Scheme. The main motive of bank is to consider the personal needs and financial requirements of individuals. Therefore, UCO bank personal loan is offered to individuals.

With the help of it, you can easily meet the personal requirements and business expenses. But before applying for UCO bank personal loan, you need to check the eligibility criteria of UCO bank personal loan and latest updated interest rate. Well, personal loan is basically high risk loan which has higher rate of interest as compared to other loans.

And it’s very important to not get rejected for personal loan otherwise you won’t be able to meet your expenses and cash requirements. With UCO bank personal loan, you can easily buy any type of consumable durable products. You can easily apply for UCO bank personal loan by filling its online application at any of nearest branch of the bank.

Check Here – UCO Bank Customer Care

UCO Bank Personal Loan Details

The major characteristics of UCO bank personal loan are as follows

  • The maximum personalloan amount is Rs. 10,00, 000
  • There is no need for any collateral for a loan of up to Rs. 2, 00, 000
  • Women have a concessional rate of interest
  • Processing charges are just 1 % amounting to a minimum of Rs. 750/-

Latest updated UCO Bank Personal Loan Interest Rate !!

Particulars Salaried Self-employed
Interest rate 12.30% p.a. for men 12.05% p.a. for women 12.30% p.a. for men 12.05% p.a. for women
Loan Amount Up to Rs.10 lakhs Up to Rs.10 lakhs
Loan Tenure Up to 5 years Up to 5 years
Lowest EMI Rs.2,239.63 for men Rs.2,226.97 for women (For Rs.1 lakh loan amount with maximum loan tenure at the lowest interest rate). Rs.2,239.63 for men Rs.2,226.97 for women (For Rs.1 lakh loan amount with maximum loan tenure at the lowest interest rate).
Processing Fee 1% of the loan amount with a minimum of Rs.750 1% of the loan amount with a minimum of Rs.750
Age 21 to 65 years 21 to 65 years

 

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UCO Bank Personal Loan Eligibility

These are the eligibility details for obtaining UCO bank personal loan. So, before applying for UCO bank personal loan, please consider the following points.

  • Age: Minimum 21 years and max 65 years
  • Nationality: Indian
  • Employment Type: Salaried or Self-employed
  • Employment status: Employed/In-business for at least 2 yrs. and at least 1 yr. with current employer/business
  • Minimum Income: Rs.4000 – Rs.20000 per month (Varies according to area, which is higher in cities)
  • Maximum Loan Amount: Rs.70 lakhs (Based on your repayment capability)
  • Tenure: Minimum – 6 months and max 60 months
  • Credit Score: 750

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Factors Affecting UCO Bank Personal Loan Application

There are some factors that impacts the UCO bank personal loan application that are being discussed below-

  • Existing Credit: The existing credit card debt and another loan services plays a significant role in defining the amount of loan and interest rate.
  • Credit History: The credit history of individuals is calculated on the basis of credit scores which are prepared by CIBIL. Upon this factors, the amount of loan, rate of interest, tenure are decided. The bad credit history will signifies the rejection of loan application.
  • Living Place: The location where you reside is also a vital component in getting the loans. Through your location, the minimum salary can be evaluated and it decides the eligibility of individual to apply for personal loan.
  • Income: The more is the income of the individuals; there are higher chances for getting better loan amount. The higher salaried individual will also determine the chances of repayment capacity of individual.
  • Employment: To ensure the stability of individual at working place, it could be easily defined from you’re working in company or organization. The better the company or organization, there are higher chances of getting good personal loan interest rate.

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UCO Bank Personal Loan Documents Required

  • Signed and properly filled application form along with photograph
  • Identity proof such as Voter’s ID/ Passport/ Driving License
  • Cheque for the processing fees
  • Bank statement of three months
  • For salaried applicants: 3 months’ pay slip and Form 16 with the latest salary certificate
  • For self-employed applicants: Latest bank statement and Income tax returns or Form 16

UCO bank is gradually showing up great advancements in terms of personal loan scheme, its each scheme offered varies as per different conditions. The high standard benchmarks are used by the bank which assists in computation of interest rate of bank.

However, it offers multiple kinds of personal loan which actually depend upon the funds requirements by borrowers. Those who want to meet the contingency expenses for education, marriage etc. can hassle free apply for UCO bank personal loan online application.

Minimum processing fee of Rs 1000 is also charged at 1% of interest rate on the sanctioned loan amount. Being one of the oldest banks, united commercial bank personal loan is one of the primary activities of the organization which meet term loans requirements and working capital needs for all sectors.

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UCO Bank Personal Loan

In 1943, the foundation of UCO bank was done in kolkata which is government possessed commercial bank of India. The bank is having more than 4000 services units in over 49 zonal offices of India. Moreover, the bank is having overseas branches in Hong Kong and Singapore. The bank is very popular for offering multiple kind of banking services and financial services. If you want to apply for UCO bank personal loan, then you must check the above stated details about bank.

We hope that people are satisfied from the details given for UCO bank personal loan, you can check official website to apply online. Stay connected with our web portal customer-carenumber.com for interesting details like this.

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