UCO Bank is one of the leading commercial banks in India, which was founded in 1943. It has its headquarters in Kolkata, and offers a wide portfolio of loans such as Education Loan, Home Loan, Consumer Durables, Vehicle Loan, etc. and a host of other general credit facilities. With a UCO Bank Loan, you can get finance for the purchase of new cars and used cars (which is not older than 5 years).
UCO Bank offers an easy car loan scheme with quick and hassle-free processing. Borrowers can repay the loan in flexible EMI options of up to 84 EMIs for new cars and up to 36 EMIs for used cars. The interest rate applicable is very low and this enables better savings on attaining your car.
•The net monthly salary should be at least Rs.20000/- after all deductions and pay-outs to existing loans + EMI of the proposed car loan.
•36 times of Gross Monthly Income is the maximum loan limit for salaried applicants.
•Professionals & Self-employed Businessman should have an annual income of at least Rs 5 lacs in Metro cities and Rs 4 Lacs in other centres according to the Income Tax Returns filed or as per the assessment of ITR in the previous year.
•Three times of average gross annual income of the last 2 years is the maximum loan limit offered to non-salaried borrowers.
•Agriculturists or those involved in allied activities should earn an annual Gross Income of at least Rs. 4 lacs in the preceding financial year.
•Farmers who have their own land holdings meet the income eligibility criteria.
•Three times of income earned annually, i.e, income of the previous financial year, is considered as the maximum loan limit offered to farmers and agriculturists.
|Corporate and Noncorporate Business Concerns||
•Any business concern which is earning profit for the last 2 years consecutively, with stable cash flow to meet repayment of the proposed loan as well as existing liabilities (if any) are considered eligible.
You can increase your UCO Bank Car Loan eligibility by effectively ensuring that your dues are paid and your credit score is high, as well as by showing a reliable source of income, etc.. In order to be considered creditworthy, an applicant must:
If you want to make sure whether or not you are eligible for a car loan from UCO bank, you needn’t waste any time and effort. With the availability of the Car loan eligibility calculator tool online, you can easily scrutinize the eligibility criteria by entering the information asked for in the questionnaire. This tool is easy to use as well as saves precious time that would be otherwise wasted on waiting around for insight from the bank or it’s executives. The details to provide from your end are: car/model, invoice value of the car, age/ date of birth, income, source of income , etc. By clicking on “calculate”, the tool will project all necessary information related to your UCO Bank car loan eligibility.
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