Please Note: UCO Bank is not a Paisabazaar partner. Offers would be from partner Banks/NBFCs only.
UCO Bank Personal Loan Highlights | |
| Interest rate | 12.45%-12.85% p.a. |
| Loan Amount | Up to Rs 15 lakh |
| Tenure | For State/Central Government Employees: Up to 7 years For other than government employees: Up to 5 years For Pensioners: Up to 4 years |
| Processing Fees | 1% of loan amount (minimum Rs.750/-) |
| Minimum Monthly Salary | Rs 10,000 |
Note: Rates as of 28th March 2023
UCO Bank Personal Loan Interest Rates
UCO Cash
| Applicant Type | Interest Rate (p.a.) |
| For Employees of Central/State Government | 12.45% |
| For Employees other than Central/State Government n | 12.70% |
UCO Pensioner Loan
| Applicant Type | Interest Rate (p.a.) |
| General Public | 12.85% |
Compare Personal Loan Interest Rates of Various Banks/NBFCs
| Banks/NBFCs | Interest Rates(p.a.) | |
| HDFC Bank | 10.50% onwards | Apply Now |
| SBI | 11.00%-15.00% | |
| ICICI Bank | 10.75% onwards | Apply Now |
| Axis Bank | 10.49% onwards | Apply Now |
| Kotak Mahindra Bank | 10.99% onwards | Apply Now |
| IndusInd Bank | 10.49% onwards | Apply Now |
| IDFC First Bank | 10.49% onwards | Apply Now |
| Bajaj Finserv | 11.00% onwards | Apply Now |
| Tata Capital | 10.99% onwards | Apply Now |
Also know the best bank/NBFC for personal loan
UCO Bank Personal Loan Fees and Charges
Processing Fee
| UCO Cash | 1% minimum Rs 750 |
| UCO Pensioner | NIL |
Also check the processing fee for personal loan
Documentation Charges
| Up to Rs 25,000 | NIL |
| Above Rs 25,000 up to Rs 2 lakh | Rs 350 |
| Above Rs 2 lakh up to Rs 5 lakh | RS 1,500 |
| Above Rs 5 lakh up to Rs 10 lakh | Rs 2,200 |
| Above Rs 10 lakh up to Rs 25 lakh | Rs 2,500 |
| Above Rs 25 lakh up to Rs 50 lakh | Rs 4,500 |
| Above Rs 50 lakh up to Rs 5 crores | Rs 6,000 |
| Above Rs 5 crores | Rs 15,000 |
Types of UCO Bank Personal Loan
UCO Cash
Purpose: Personal loan scheme for meeting the personal requirements like marriage, education, social obligations, agricultural needs, etc. of employees of Central/State government and private universities/colleges/school teaching staff
Loan Amount:
- For Central/State Government Employees- 20 times of gross monthly income subject to maximum of Rs 15 lakh
- For other than government employees- 10 times of gross monthly income subject to maximum of Rs 10 lakh
Tenure:
- For Central/State Government Employees- Up to 7 years
- For other than government employees- Up to 5 years
Processing Fee: 1% of loan amount (minimum Rs 750)
UCO Pensioner Loan
Purpose: Pension loan offered to pensioners/family pensioners receiving pension through UCO Bank to meet the expenses related to medical treatments, marriage, education, home improvement, mediclaim premium payments, travel, funeral and agricultural needs of self and dependents
Loan Amount:
12 times of monthly pension subject to –
- Maximum Rs 10 lakh for age group up to 70 years
- Maximum Rs 5 lakh for age group above 70-74 years
For family pensioners/pensioners without family pension provision/pensioners where spouse has died before- 10 times monthly pension subject to maximum of Rs 3 lakh
Tenure:
- Up to 4 years, before the pensioner reaches 75 years of age
- For family pensioners/pensioners without family pension provision/pensioners where spouse has died before- Up to 4 years or before the pensioner reaches 72 years of age
Processing Fee: NIL
Eligibility Criteria for UCO Bank Personal Loan
For UCO Cash
- Applicants should be permanent employees of Central/State Government (Departments/Undertakings/Entities, autonomous bodies, Public Sector Undertakings, Educational Institutions/Aided educational institutions)
- Employees of private colleges, schools teaching staff, universities
- Monthly Income: Minimum Net Monthly Income should be Rs 10,000. However, it should not be less than 40% of gross salary after the deduction of tax, PF, other statutory deductions, EMIs for the proposed UCO Cash loan, loans granted by the employer or any other loans.
For UCO Pensioner Loan
- Family Pensioner, i.e., the spouse of a deceased pensioner
- Pensioners without the provision of family pension
- Pensioners where spouse is predeceased
UCO Bank may also check credit score of its personal loan applicants, just like other lenders do while setting the personal loan eligibility criteria of their applicants.
Documents Required for UCO Bank Personal Loan
- PAN Card
- Identity proof: Passport, Voter ID, Driving License, Aadhaar
- Address proof: Ration Card, Bank Statement, Passport, Driving License, Electricity Bill, Telephone Bill, Sale Deed/Property purchase agreement(for owned properties), Aadhaar Card
- Income proof: Bank Account Statement, Salary Slips, P&L Statements, Certified IT returns
EMI Calculation
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
UCO Bank Customer Care
- You can call on 1800-274-0123
- You can send an email to customercare.calcutta@ucobank.co.in
- You can also visit the nearest UCO Bank branch to get answers to your queries
Important Aspects
Following are some of the important aspects that need to be considered while applying for personal loan:
- Make sure you check your credit score before applying for a loan. Usually 750 and above is considered an ideal credit score for successful personal loan application
Also know: How can Step Up Credit Card Co-branded with SBM Bank India Ltd. help in improving/building your credit score
- Read the terms and conditions along with applicable charges and fees before you opt for a personal loan
- Compare personal loan through multiple options such as loan principal, rate of interest, loan tenure and others with different lenders
- Always check your monthly EMI before applying for a personal loan and choose the tenure wisely. If your EMI is too high, it increases your risk of default while too low an EMI increases your total interest pay out
FAQs
Q. Can I choose between a fixed or floating rate for the personal loan?
A. UCO Bank offers personal loans at floating rates only.
Q. Do you need any security or guarantors while applying for UCO Bank Personal Loan?
A. The applicants are not required to provide any security to UCO Bank while applying for UCO personal loan. However, the applicants availing UCO Pensioner Loan need to provide personal guarantee of spouse eligible to receive family pension in case of death of the pensioner. In case of war widows, a third party guarantee having sufficient income is provided to the bank.
Q. At what minimum credit score can the applicants avail UCO Bank Personal Loan?
A. UCO Bank has not mentioned a cut-off credit score for its personal loan applicants. However, a credit score of 750 and above usually increases the chances of availing personal loan at lower interest rates.
Q. I do not have a salary account with UCO Bank. Can I avail UCO Personal Loan?
A. To avail personal loan from UCO Bank, the applicants should have a salary account with the bank.
