UCO Bank Loan Against Property

UCO Bank Loan Against Property Highlights
Interest Rate	10.85%-12.00% p.a.
Loan Amount	Up to Rs 5 crore
Tenure	Up to 12 years
Processing Fee	0.50% of loan amount (up to Rs 2 lakh)
Minimum Income	For Salaried: Rs 30,000 per month (metros); Rs 20,000 (other locations) For Non-Salaried: Rs 4 lakh p.a.

UCO Bank Loan Against Property Interest Rates

UCO Property Loan

CIBIL Score	Interest Rate (p.a.)
>750	11.00%
700-749	11.50%
Below 700	12.00%

UCO Rent

Type of Applicants	Interest Rate (p.a.)
Owner of UCO Bank branch premises	10.85%
Owners of the premises of other banks’ branches or where the tenants are PSUs, reputed corporates, Insurance companies, Financial Institutions and MNCs	11.00%
Other property owners requiring repayment tenures of up to 3 years	11.70%
Other property owners requiring repayment tenures of above 3 years	11.95%

Compare Interest Rates on Loan Against Property for Top Banks & HFCs

Name of the Lender	Interest Rate (% p.a.)
State Bank of India	10.60-11.30
Bank of Baroda	10.85-16.50
PNB Housing Finance	9.25-15.00
IDFC First Bank	9.00-16.50
HDFC Bank Limited	9.50-11.00
L&T Housing Finance	9.50 onwards
LIC Housing Finance	9.50-11.55
Godrej Housing Finance	9.75 onwards
ICICI Bank	10.85-12.50
Tata Capital	10.10 onwards
Bajaj Housing Finance	8.50-18.00
Axis Bank	10.50-10.95
Kotak Mahindra Bank	9.15 onwards

UCO Bank Loan Against Property Fees and Charges

UCO Rent

Particulars	Charges
Processing Fee	Up to 0.50% of loan amount (up to Rs 2 lakh)
Pre-payment Charges	NIL when pre-payment is done through borrower’s own fund 1% in other cases

Types of UCO Bank Loan Against Property

UCO Property Loan

Purpose:

• To meet the personal requirements of the borrowers
• For individuals and firms/companies to meet the financial needs of MSE units. Agricultural needs and other purposes fall under Priority Sector Norms

Loan Amount:

• For Individuals: Rs 2 lakh-Rs 2 crore
• For firms/companies: Rs 2 lakh-Rs 5 crore

Tenure: Up to 12 years

UCO Rent

Purpose: Loan against rent receivables for productive purposes like undertaking repairs, renovation, augmenting earnings, etc.

Loan Amount: Minimum Rs 1 lakh

LTV Ratio:

Applicant Type	LTV Ratio
Owners of the premises of other banks’ branches or where the tenants are PSUs, reputed corporates, Insurance companies, Financial Institutions and MNCs	Up to 70% of total rent receivables
Other property owners	50% of total rent receivables

Tenure: Up to 10 years

Eligibility Criteria for UCO Bank Loan Against Property

For UCO Property Loan

• Salaried, self-employed or pensioners falling under age group 21-65 years are eligible for Loan Against Property at UCO Bank
• Professionals and businessmen should have regular income source and should be filing ITR
• Minimum Income:
  • For Salaried-
    • Minimum Gross Salary should be Rs 30,000 per month (metro cities)
    • Minimum Gross Salary should be Rs 20,000 per month (other areas)
  • For Non-Salaried- Rs 4 lakh p.a.
    • The Net Take Home Pay should not be less than 40% after considering all the deductions such as provident fund, insurance, income tax, professional tax monthly EMIs of proposed loan and other statutory deductions

For UCO Rent

• Lessors/owners of houses/flat/godowns/warehouses, etc. are eligible to apply for UCO Rent.
• Properties belonging to co-operative societies are not eligible for loan sanction under UCO Rent