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  • UCO Bank Shopper Loan Scheme

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  • The UCO Bank Shopper Loan Scheme is a finance scheme that allows you to buy various durables such as computers, air conditioners, refrigerators, televisions, and other electronic gadgets with ease.

    Features of the UCO Bank Shopper Loan Scheme

    Feature Details
    Eligibility Criteria
    • You must be a UCO Bank customer for at least 6 months.
    • 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
    • Self-employed individuals, professionals, and businessmen are also eligible
    Income Criteria Salaried Individuals
    • Metros Cities: Rs.30,000 per month
    • Other Cities: Rs.20,000 per month
    • 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
    • Minimum Income: Rs.4 lakh per annum according to the latest Income Tax Returns.
    • 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
    • Salaried Individuals: 21 years to 60 years
    • 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.
    Margin 20% of the cost of the total article.
    Repayment The loan can be paid back in 60 EMIs.
    Interest Rate
    • In case loan is availed by providing security or via salary tie-up: 1-year MCLR + 1.15%
    • Other cases: 1-year MCLR + 2.15%
    Prepayment Charges No charges

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