If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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  • UCO Bank Car Loan EMI Calculator is Rated as "Great!" by 28 Users

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    UCO Bank Car Loan EMI Calculator

    Whether you want to purchase a new or used car, individuals aged 21 years and above can apply for car loans at UCO Bank. The bank offers car loans of up to 85% of the on-road price for new cars and Rs.15 lakh for used cars from certified car dealers. By using the UCO Bank Car Loan EMI Calculator, you can calculate your monthly EMIs on car loan received from UCO Bank.

    How to use BankBazaar UCO Bank car loan EMI calculator to understand your car loan repayment?

    UCO Bank car loans can be repaid through Equated Monthly Installments (EMI). To calculate your car loan EMI, just input the loan amount, interest rate, and loan tenure in the BankBazaar UCO Bank car loan EMI calculator. Your car loan EMI will be instantly displayed on the screen. The BankBazaar car loan EMI calculator takes prepayments into consideration while calculating the EMI. The processing fee for UCO Bank car loan is 1% of the loan amount, subject to a maximum of Rs.1,500.

    UCO Bank car loan EMI calculator – How does it work?

    The UCO Bank car loan EMI calculator on the BankBazaar website can be used to instantly calculate the total cost of your car loan which includes the loan amount, total interest payment, and the processing fee. All you have to do is move the slider on the scale to indicate the loan amount and loan tenure. Then, enter the car loan interest rate and processing fee. Click on the Calculate button and the EMI will be displayed.

    This tool also gives you the option to enter prepayment amount, frequency, and charge when computing the EMI. The tool also gives you a monthly and yearly amortisation schedule for car loan repayment. EMI is calculated using the following formula:

    EMI = [P x R x (1+R) ^N] / [(1+R) ^N – 1],

    Where, P is the principal amount, R is the interest rate, and N is the number of installments.

    Listed below is a sample of the EMI calculations for an average loan amount of Rs.10-40 lakh for a loan tenure of 3 to 7 years. UCO Bank offers car loans for an interest rate of 8.95% p.a.

    Loan Amount Interest Rate EMI for 3 years EMI for 4 years EMI for 5 years EMI for 6 years EMI for 7 years
    Rs.10 lakh 8.95% Rs.31,776 Rs.24,861 Rs.20,734 Rs.18,001 Rs.16,064
    Rs.15 lakh 8.95% Rs.47,665 Rs.37,292 Rs.31,101 Rs.27,001 Rs.24,096
    Rs.20 lakh 8.95% Rs.63,553 Rs.49,723 Rs.41,468 Rs.36,001 Rs.32,127
    Rs.25 lakh 8.95% Rs.79,441 Rs.62,153 Rs.51,835 Rs.45,002 Rs.40,159
    Rs.30 lakh 8.95% Rs.95,329 Rs.74,584 Rs.62,202 Rs.54,002 Rs.48,191
    Rs.35 lakh 8.95% Rs.1,11,218 Rs.87,015 Rs.72,569 Rs.63,003 Rs.56,223
    Rs.40 lakh 8.95% Rs.1,27,106 Rs.99,445 Rs.82,936 Rs.72,003 Rs.64,255
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    UCO Bank car loan EMI calculator - Features and Benefits

    UCO Bank car loan EMI calculator is simple and easy to use. Some of the special features and benefits of the tool includes:

    • Free of charge: The EMI calculator available on the BankBazaar website can be used free of cost. The tool can be used any number of times. You don’t have to sign up to use the tool.
    • Instant result: The tool provides you instant EMI calculation with the click of a button.
    • Accurate calculation: With the online EMI calculator, there are no chances of error.
    • Compare loan rates: Higher interest rates mean higher EMIs. Using the EMI calculator, you can compare various car loan rates and choose the one that best serves your needs.
    • Loan tenure adjustment: Longer loan tenure means lower EMIs. However, you may end up paying a higher interest amount. With the help of the EMI calculator, you can adjust the car loan tenure to avoid paying more interest.
    • Impact of prepayment: Loan prepayments can have a significant change in your EMIs. Input the prepayment amount, frequency, and charge in the EMI calculator to find out how it affects your car loan EMI.

    UCO Bank car loan EMI calculator - FAQs

    1. Why use UCO Bank car loan EMI calculator?

      In addition to performing instant EMI calculations, you can also find out how prepayments will affect your car loan repayment and accordingly prepare a budget to make equated monthly installments without fail.

    2. What does the EMI amortisation schedule comprise of?

      The car loan EMI amortisation table consists of starting balance, interest paid, principal paid, and the ending balance.

    3. Who are eligible to apply for a car loan at UCO Bank?

      Self-employed individuals, salaried persons, farmers, agriculturalists, businessmen, pensioners, and companies can apply for UCO Bank car loans.

    4. What is the prepayment charge for UCO Bank car loans?

      There is no prepayment charge levied for partial or full payment of the car loan before the end of the loan tenure.

    5. What is the maximum car loan amount offered by UCO Bank for used cars?

      For used cars, lower of 70% of the cost of the used car up to 4 years old, 60% of the cost of the used car 4 to 5 years old or Rs.3.5 lakh.

    6. Is an online car loan EMI calculator better than an excel sheet for EMI calculation?

      Car loan EMI calculator is not only easy to use but also gives your accurate and instant results whereas an excel sheet can be time consuming and inaccurate if the formula is not formatted correctly.

    Car Loan Reviews

    • UCO Car Loan
      "Faster service"
      0.5 5.0/5 "Blown Away!"
      My service with UCO BANK was very good. One of my wife's friend suggested this bank. I have purchased a new brand Swift Dzire. I took loan of 6L, paid the inital payment as 2L. EMI payment goes through ECS, I directly approached the bank and submitted the documents. It is a faster service and the loan was on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 25, 2017
    • UCO Car Loan
      "good service"
      0.5 4.0/5 "Great!"
      I have current account running with UCO bank customer service was very nice I have atm facilities nearby my location also even the online application is user friendly which makes my transaction fast ,I can say the overall service is excellent from UCO for my current account.
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 15, 2017
    • UCO Car Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      UCO bank took around a week's time to disburse my car loan. The response and the follow up was really good also their customer support is really good. I went to their place to submit my documents. The rate of interest is also nominal with UCO bank however, I am happy with the loan amount.
      Was this review helpful? 1
      , jamnagar
      Reviewed on May 19, 2017
    • UCO Car Loan
      "Good deal"
      0.5 5.0/5 "Blown Away!"
      I got a excellent deal on the rate of interest at UCO bank when compared to HDFC Bank for the car loan. The interest rate was of 9.2% , whereas at HDFC Bank it was around 10.25%. The charges were minimal and the process was on time. The documentation was process was simple and it was all completed on time.
      Was this review helpful? 1
      , bhubaneshwar
      Reviewed on Apr 08, 2017
    • UCO Car Loan
      "Nice experience"
      0.5 4.0/5 "Great!"
      My car loan is from UCO Bank and I am happy with the smooth process. The documentation was normal and it was easy to get the loan through. The rate of interest was of 9% and it was a zero processing fee. The after loan services is also good without any hassles.
      Was this review helpful? 1
      , kolhapur
      Reviewed on Mar 21, 2017
    • UCO Car Loan
      "Best"
      0.5 4.0/5 "Great!"
      I have got the car loan with the UCO bank and the loan amount got disbursed within twenty four days of time from my application date. Processing charges were around 11.25% and I approached the bank directly then I got the car loan.
      Was this review helpful? 1
      , mumbai
      Reviewed on Feb 19, 2016
    • UCO Car Loan
      "Happy Loans!"
      0.5 5.0/5 "Blown Away!"
      My car loan is approved with UCO bank with low interest rate of 9.75%. They approved me the expected loan amount for a new car loan. Since I am planning to take the car in November, they are waiting for the disbursement. It is mandatory for the applicant to stay in own house to get a car loan with UCO bank.
      Was this review helpful? 1
      , new delhi
      Reviewed on Sep 18, 2015
    • UCO Car Loan
      "Most Reliable"
      0.5 5.0/5 "Blown Away!"
      I have taken my car loan from UCO bank. The whole process just took a day. The customer service was good. The manager himself talks to the customer. They are very customer friendly. Compared to the other banks I have seen, they offered the least rate of interest of 10.15%. They processing fee was very less too. I got a loan of 85% on the value of the car.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 25, 2015
    • UCO Car Loan
      "Poor response"
      0.5 1.0/5 "Really Bad"
      I got no response for my car loan with UCO Bank. They contacted me initially and later there was no response from them. So I decided to switch with another bank.They need improvement on their services.
      Was this review helpful? 1
      , new delhi
      Reviewed on Jun 30, 2015
    • UCO Car Loan
      "Good"
      0.5 4.0/5 "Great!"
      Since I did not get the required amount I dropped the idea of taking a car loan with UCO Bank. The services are good. The rate of interest was about 14% and the processing fee was 7K for the loan amount two lakhs.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jun 30, 2015
    • UCO Car Loan
      "Good"
      0.5 4.5/5 "Excellent!"
      I got excellent response from UCO bank and it was the only bank who came forward to help me for my car loan. But when I was at the car show room to purchase my car I tried contacting them a couple of times and at that moment I did not get a response. The dealer informed me to go with SBI as they have a tie up with SBI and my salary account is with SBI too. So it was a instant decision that at that moment not to take my car loan with UCO.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 29, 2015
    • UCO Car Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I did not take my car loan with UCO Bank as I got the loan with another bank who the dealer had a tie up with. And the offer was almost the same that UCO was giving me. The services has been good with UCO and their communication was good.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 29, 2015
    • UCO Car Loan
      "Average"
      0.5 1.5/5 "Bad"
      I did not take my car from UCO Bank as I did not get a follow up. They need a lot of improvement in the customer services and how to value a customer. Later my priorities changed and I dropped the idea of the car loan.
      Was this review helpful? 0
      , noida
      Reviewed on Jun 27, 2015
    • UCO Car Loan
      "Good"
      0.5 4.0/5 "Great!"
      My car loan did not process with UCO Bank as I did not have Form 16. They done a pretty decent job and provided a good service. The interest rate was pleasing and the processing fee was high compared to the other banks.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jun 26, 2015
    • UCO Car Loan
      "Average!!"
      0.5 2.5/5 "Just OK"
      My experience with UCO Bank for the car loan was not upto the mark. They donâ??t have any person to collect the document as I had to go their office and fill up their documents. It took nearly 15 days for the loan to get disbursed .The foreclosing charges are more and also the manager did not want me to close and also they had forced me to maintain some amount in my account.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 23, 2015
    • UCO Car Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I did not go with UCO Bank for my car loan because the place I bought my car from had a tie up with SBI and I also have a account with the SBI and I got the same benefits from SBI too. The response and services I got from UCO was good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 22, 2015
    • UCO Car Loan
      "good"
      0.5 5.0/5 "Blown Away!"
      I got the car loan with UCO bank.The rate of interest is around 10.2% and am really happy with them.The customer service is really working good .The loan got disbursed within a week of time when I applied.They are helping in all ways.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 16, 2015
    • UCO Car Loan
      "Execute the same that are committed in the beginning"
      0.5 1.0/5 "Really Bad"
      At first they informed that they can process the loan amount that I expect but at the final stage they asked me to pay some amount and said that they can process only 60%. What I noticed online is completely different when it comes to action. Though interest rate for car loan is less in nationalized bank of UCO, I will not appreciate their service.
      Was this review helpful? 2
      , bangalore
      Reviewed on May 15, 2015
    • UCO Car Loan
      "Satisfied overall.."
      0.5 4.0/5 "Great!"
      I could not avail car loan from UCO bank because I got offer from my home branch for the same rate of interest otherwise I would have gone with UCO. Person who contacted me from UCO bank was good and he updated scheme details with good follow ups. Rate is comparatively equal to the market.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 14, 2015
    • UCO Car Loan
      "Satisfied!!!"
      0.5 5.0/5 "Blown Away!"
      UCO bank individuals asked for some documents but at that time I was unable to submit that so they informed, would return back once I have all papers. Communication was good and the executive was good. When I dealt with them for a car loan never faced any issues and they were ready to give reasonable rate.
      Was this review helpful? 0
      , chennai
      Reviewed on May 14, 2015
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