Description
UCO Bank Personal Loan
You can avail UCO Bank personal loan at most affordable interest rate and low processing fees. Personal Loan offered by UCO Bank are for every type of applicant. UCO Bank Personal loans are available in four variants, namely, UCO Cash, UCO yatra, UCO Shopper Loan Scheme and UCO Pensioner Scheme meant to satisfy specific needs of an individual.
Here is a list of the personal loan schemes provided by UCO Bank.
- UCO Shopper Loan Scheme: This scheme is meant for monetary support when a borrower desires to buy goods and electronics.
- UCO Cash: This personal loan scheme is directed towards customers from specific job types for fulfilling their personal financial needs
- UCO Yatra: The UCO yatra loan provides financial help for borrower who needs extra cash for tour and travel purposes.
- UCO Pensioner: As the name says this scheme is specially meant to fulfill the financial requirements of a pensioners.
Interest Rate & Charges - UCO Bank Personal Loan
| UCO Bank Personal Loan Interest Rates 2021 | |
| General -Interest Rates Men Women |
For women: 11.45% P.A For men: 11.70% P.A |
| Loan tenure | Up to 5 years |
| Processing Fee | 1% of the loan amount (Minimum Rs. 750) |
| Repayment Period | Minimum- 1 year 0r
Maximum- up to 5 Years |
| Minimum Income | INR- 10,000 P.M. |
| Loan Amount | Minimum- INR 50,000
Maximum- INR 10Lakh |
Personal loan interest rates in UCO Bank & other fees and charges are subject to regular review and can vary with each customer. UCO Bank personal loan interest rates can differ depending on your credit worthiness & other factors. The final interest rate will be based on different criteria including the bank’s internal policies & applicable rates at the time of approval.
Eligibility Criteria - UCO Bank Personal loan
- Salaried individuals: - To avail UCO Bank personal loan, borrower should be a confirmed employee in government/semi government/reputed public/PSU/private limited company.
- Salary: - Net take home income should be not less than 40% of gross salary after deduction as well as proposed EMI of the UCO Bank personal loan granted by his employer & any other loans, if any subject to minimum INR 10000.
- Other income like rent, interest dividend etc. will also be taken into account.
- Age limit: - personal loan applicant of UCO Bank personal loans should be minimum 21 years in the case of salaried individuals and 65 years in case of self-employed/non-salaried individuals.
- Service: - salaried individuals must have completed 2 years of service in the same organization.
- Guarantor: - If the loan amount crosses 2 lakhs then there is requirement of two guarantors i.e. spouse and other than spouse having same net worth with that of applicant.
- Eligibility and EMI calculator: Now, you can easily evaluate your UCO Bank personal loan eligibility and UCO Bank personal loan EMI using utility tools like personal loan eligibility calculator and personal loan EMI calculator at afinoz.com. This calculator will help you to determine your EMI outflow every month including the interest rate you will need to pay. Using the calculator at Afinoz.com is free, easy and simple.
- CIBIL score: Credit score is an important factor for approval of your loan. Usually, an applicant’s credit worthiness is determined by evaluating his credit score i.e. CIBIL score. The loan application of the applicants having poor credit score may get rejected. It’s always advisable to keep on updating your credit score every now and then. If you have a bad credit score and somehow, your loan application is approved, then you might be asked to pay a high-interest rate and be offered many unfavorable terms and conditions on your loan.
Documents Required : UCO Bank Personal loan
- Signed application form with passport size photographs.
- ID proof: voter’s ID/passport/driving license/
- Cheque for the processing fees.
- Three months bank account statement.
- For salaried applicants: 3 months pay slip & form 16 with latest salary certificate.
- For self employed applicants: Latest bank statement & income tax return or form 16.
Features and Benefits - UCO Bank Personal loan
- Individuals can avail maximum loan amount up to 10 lakhs.
- No need to pledge any collateral or security up to the loan amount of 2 lakhs.
- UCO bank provides concessional rate of interest for women.
- Low processing charge up to 1 %
- Simple documentation.
- Competitive rate of interest.
- Transparent procedure.
- No processing charge for pensioners.
- Flexible repayment period allows you sufficient time to clear the loan.
- Terms & conditions are simple.
How To Apply UCO Bank Personal Loan Online at Afinoz ?
While you do your UCO Bank personal loan apply online at Afinoz, you should check the following-
- Check your UCO Bank personal loan eligibility with the personal loan eligibility calculator at Afinoz.com. Simply visit Afinoz.com, fill in some basic details and get your instant assessment from the Afinoz personal loan eligibility calculator.
- Check your UCO Bank personal loan EMI with the personal loan EMI calculator at Afinoz.com. This will help you to know the exact amount you need to pay every month towards the repayment of your UCO Bank personal loan.
- Check the documentation for UCO Bank personal loan application .Whether you are salaried or self-employed, applying with the proper set of documents will enhance your chance of getting your loan approved.
UCO Bank Personal Loan EMI Calculator
You can avail UCO Bank personal loans at very competitive interest rates. But, we would recommend you to do one very important exercise before your UCO bank personal loan apply.
The personal loan EMI calculator at Afinoz.com can be a great help if you want to know your UCO Bank personal loan EMI accurately. An EMI calculator is a useful tool that assists a borrower to calculate the personal loan EMI, the breakup and the amortization table. An evaluation of these important parameters provides a transparent picture to you and empowers you to make an informed decision regarding the affordability of your UCO Bank personal loan. By feeding the inputs (loan amount, loan tenure and UCO Bank personal loan interest rate) properly on the Afinoz personal loan EMI calculator, you can even decide on an exact EMI amount that you can repay comfortably over your loan tenure. This saves you from straining yourself financially and helps you to avoid financial distress later on.
The Afinoz personal loan EMI calculator is highly accurate and you can be sure of getting error-free results at your convenience. Here, you are at liberty to try out your own permutations and combinations regarding tenure, loan amount and personal loan interest rates and choose the best UCO Bank personal loan product for yourself.
UCO Bank Personal Loan Customer Care Number
Personal Loan Status - UCO Bank
After you apply for an UCO Bank personal loan, you can track the UCO Bank personal loan status real time through any one of the below-mentioned ways-
- When you submit your UCO Bank personal loan application through the online platform of Afinoz, a unique transaction id will be generated for you. With this id, you can track the progress of your loan approval yourself
- The Afinoz customer support team will keep you informed about the progress of your UCO Bank personal loan through regular sms /email updates.
- You can also check the UCO Bank personal loan status from the official website of the bank
- You can speak to the bank executives any time, in case you have any query.
➤ FAQs
Ques. How to get all information with respect to personal loans offered by UCO bank?
Individuals can log on to afinoz.com or mail us at info@afinoz.com and get all the details about the loan.
Ques. Whether an individual can apply for loan online?
An individual can apply through afinoz.com website and get rid of the hidden charges and hassle.
Ques. Can I foreclose or prepay my loan?
Yes, you can easily prepay the entire loan outstanding anytime after paying 6 installments. Prepayment charges will be applicable on the outstanding loan amount. Part prepayment is not allowed.
Ques. Do I have to pay any additional charges?
A processing fee of 1% will be levied and will be deducted from the disbursal amount payable to you. Moreover, you can get rid of other hidden charges by applying through afinoz.com.
Ques. What is the loan amount that can be sanctioned?
An individual could borrow 50,000 to 10 lakhs depending on UCO bank personal loan eligibility criteria.
Ques. What are the loan tenure options?
The loan can be repaid over a period of 12 to 60 months
Ques. What security/collateral do I have to provide for Loan?
No security, collateral or guarantors are required up to 2 lakhs of UCO bank personal loan.
Ques. I need a personal loan as soon as possible. How much time will it take for my loan to get approved?
If you are eligible and the documents are in order, personal loans are generally approved within 2 to 3 working days from the submission of the application. Though, if you are an existing customer, it may take less time for the loan to be processed.
Ques. Can I check my UCO Bank Personal Loan status?
If you have applied for your UCO bank Personal Loan through AFINOZ then all you need to do is to fill the UCO bank personal loan application details at website and get your loan status in real-time.
Ques. What will be my maximum EMI for a month?
UCO bank personal loan EMI for a salaried individual can’t exceed 40% of his/her take home salary, for self-employed candidate the value of the loan is determined by the profits earned.
Ques. Where can I apply for a UCO Bank Personal Loan?
You can effortlessly apply for UCO bank personal loan in few clicks at AFINOZ.COM and can save time and get rid of hassle & efforts.
Ques. What documents must I submit when applying for a personal loan from UCO Bank?
The documentation process for a personal loan from UCO Bank is quite simple, and the documents accepted by the bank include passports, driver’s license, and Aadhar card for proof of identity. For address proof, the documents accepted by the bank include telephone or electricity bills. Moreover, a driver’s license with a mention of the customer’s current address is accepted. For income proof you need to present pay slip.
Ques. What factors are taken into consideration by the bank when checking my eligibility for a personal loan?
When your UCO bank loan application is submitted along with the necessary documents, the bank will run a verification check to determine your eligibility for the loan. Your job status, job security, monthly income, outstanding debt, credit score, ability to repay are some other factors which will be considered to ensure that you’re a risk-free customer.
Ques. Can I avail a personal loan despite having a poor credit score?
Before bank sanctions any loan to you, it requires you to have a good credit score. However, you should follow certain steps to increase your credit score.