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  • UCO Bank Loan Against Property

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  • The UCO Bank, a Government of India undertaking incorporated in 1943, aims to excel in customer service by constant upgradation of the skills of its employees coupled with state-of-the-art technology. UCO bank has a robust capital base in addition to a large client base and a diversified asset portfolio among others. UCO is a commercial bank and therefore, offers advances and loans for a wide range of activities catered to various sectors from agriculture and medium and small scale industries to export/import and infrastructure among others. The UCO bank offers loans against property as well.

    Target customers of UCO Bank Loan against Property

    The UCO bank loans against property is offered to the following groups/individuals:

    • Firms and individuals for their MSE units as per (priority sector) norms.
    • Personal expenses such as weddings, medical exigencies and vacations among others

    Eligibility criteria for UCO Bank Loan against Property

    The following table shows the eligibility criteria of loans offered by UCO bank against property


    Minimum: 21 years

    Maximum: 65 years

    Maximum age for repayment: 70 years

    Types of borrowers

    Salaried/ Professionals



    Businessmen (must have regular source of income)

    Loan Type

    • Term Loan

    • Overdraft permitted for business purpose. The cash credit or overdraft account should be renewed on an yearly basis

    Minimum Income

    • Salaried professionals

    Gross income: Rs.30,000 p.m at metros Rs.20,000 p.m for the rest

    • Non-salaried individuals

    Rs.4 lakh p.a

    The net take home pay of both salaried and non-salaried borrowers (after various deductions including EMI of the current loan against property) should not be less than Rs.10,000 or 40% of gross income (whichever is higher).

    Loan Amount

    Minimum: In case of own property, it is 60% of the value of its distress sale (non-agricultural land with constructed building in borrower’s name or joint names) In case of rented property, the loan amount depends on the realizable value, which may differ on a case to case basis.

    Maximum: Rs.2 crores (individuals)

    Rs.5 crores (firms)

    Credit will be offered against buildings and apartments which are not over 50 and 30 years old respectively. If a given property has joint holders, UCO bank will offer credit in joint names. However, no credit will be provided by UCO bank against immovable property of a third party


    • The UCO bank provides credit against equitable mortgage of non-agricultural land/commercial property in metros/semi-urban centres under single/joint names.

    • If a given property has to be sold, the title deed of the property which is mortgaged has to be released after adjustment of the bank dues. The borrower can also opt for substitution if in need of credit facility.


    7 years

    Processing fees



    Maximum: 144 EMIs


    Rs.1749 (lowest per lakh)


    Rin Jeevan Suraksha covers outstanding loan in the event of natural/accidental demise of the borrower

    UCO Bank Interest rates (floating) for Loans against Property

    The UCO bank offers a floating rate of interest on its Loans against Property. The floating interest rate is linked to its base rate as listed below:

    • Priority sector: base rate + 2% (floating)
    • Non-priority sector: base rate + 3% (floating)

    The following table shows the interest rates offered by UCO bank

    Base rate + margin

    Total rate

    9.7% + 2%


    9.7% + 3%


    The following table shows the changes in the base rates of UCO bank



    October 2015


    October 2010


    Documentation Required for UCO Bank Loan against Property

    The following documents should be submitted to avail of loan against property offered by UCO bank

    • Loan Application form (completed)
    • Receipt of property tax
    • Bank account statement (6 months)
    • Proof of identity (driving licence/ Voter ID)
    • Residence proof (electricity bill/Aadhar card)
    • Assets and liabilities statement (businessmen)
    • Address proof of business unit (businessmen)
    • Photographs (passport size)
    • Signature identification

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