UCO Bank Shopper Loan

Eligibility Criteria

1. You must be a UCO Bank customer for at least 6 months.
2. Permanent Employees from reputed private companies or working with Universities/PSU/Semi-Government/Government organisations with a minimum experience of one year and a minimum remaining service period of 5 years
3. Self-employed individuals, professionals, and businessmen are also eligible

Income Criteria

Salaried Individuals

1. Metros Cities: Rs.30,000 per month
2. Other Cities: Rs.20,000 per month
3. The surplus should not be more than 40% of the income inclusive after all deductions and the proposed loan EMI or Rs.10,000 (whichever is higher).

Non-Salaried Individuals

1. Minimum Income: Rs.4 lakh per annum according to the latest Income Tax Returns.
2. Surplus should not exceed 40% of the income inclusive of the EMI of the loan and other obligations (inclusive of Income Tax) or Rs.10,000 (whichever is higher).

Age Criteria

1. Salaried Individuals: 21 years to 60 years
2. Non-Salaried Individuals: 21 years to 65 years

Loan Amount

10 times your monthly take-home salary or a maximum of Rs.2,00,000, whichever is lesser.

Processing Fee

1.00% of the amount that has been availed as a loan. However, the minimum processing fee is Rs.1,000.

Repayment

The loan can be paid back in 60 EMIs.

Interest Rate

1. In case loan is availed by providing security or via salary tie-up: UCO Float Rate + 1.55% which is 8.40% p.a.
2. Other cases: UCO Float Rate + 2.55% which is 9.40% p.a

Prepayment Charges

No charges