If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
  • loading

    UCO Bank Car Loan Eligibility Calculator

    We found 0 UCO Bank Car Loan Eligibility Calculator

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range

    UCO Bank Car Loan Eligibility Calculator is Rated as "Great!" by 26 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Car Loan BYTES FROM OUR KITCHEN

    UCO Bank Car Loan Eligibility Overview

    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.

    UCO Bank Car Loan Eligibility Criteria

    Who can apply?

    • Applicants who are at least 21 years old can apply. UCO Bank has not set any maximum age limit for applicants.
    • Salaried Individuals: Any regular salaried employee who has at least 6 months of work experience, can apply.
    • Non-salaried Individuals: Well-established Professionals, Businessmen, Self Employed, Agriculturists or Farmers, can apply.
    • Corporate or Non-Corporate Business Concerns are eligible to apply for a UCO Bank car loan.
    • Pensioners or Ex-staff can apply for the loan.
    • NRIs are also eligible to apply for a UCO Bank car loan.

    Income Criteria for Eligibility

    Salaried Individuals

    •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.

    Non-salaried Individuals

    •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

    •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.

    Factors affecting UCO Bank Car Loan Eligibility

    • The debt-to-income ratio is a determining factor affecting UCO Bank car loan eligibility. The Bank will analyse income earned annually against your debts. This helps the bank to understand the borrower’s repayment capacity.
    • Credit score of an individual is a reliable source of information used by banks to evaluate whether or not an applicant is creditworthy and would be consistent in repayment of the loan. If all your dues are paid properly and there are no serious defaults in your credit history and there are no dues pending, your credit score will be high. This also ensures that your CIBIL score is high and this in turn influences your chances of getting a car loan approval.
    • Amount of loan you have requested as well as the loan margin paid by you is another important component in determining your car loan eligibility. If you pay a sizeable amount of the invoice value of your car as downpayment, this reduces the loan quantum and alternately reduces your loan burden. Banks approve smaller loan amounts since the repayment is faster and involves lesser risk.
    • Age of the applicant is another detrimental matter - even with age limits set by banks to determine loan eligibility. Applicants who are in maximum age limit category have lower chances of getting their loan approved. However, a short loan tenure increases their chances of a favourable loan approval.

    How to improve your UCO Bank Car Loan Eligibility

    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:

    • Have paid all credit dues in a timely manner.
    • Have not defaulted on any Joint accounts and accounts/transactions he/she is a guarantor in.
    • Have both secured and unsecured loans in his/her credit history is a must - this will affect your credit report positively.
    • Review in detail accounts wherein you are a co-signatory of any credit transactions. Since a co-obligor has equal financial liabilities, any defaults in payment will reflect poorly on his/her credit score
    • Pledge a valuable collateral or security in exchange of the car loan, so that it assures the bank of repayment in some form, reduces risk and increases your chances of getting the car loan approved.

    UCO Bank Car Loan Eligibility Calculator

    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.

     Loading your search... Loading your search...
  • UCO Bank Car Loan Reviews

    • 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? 0
      , 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? 0
      , 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? 0
      , 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? 0
      , 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
    • UCO Car Loan
      "It is good"
      0.5 4.0/5 "Great!"
      It was amazing experience with UCO bank but the interest rate is high so I did not go for car loan. The bank is customer friendly and they gave rate of 11% but I got it done for 10.25% outside. I suggest UCO bank to give competitive rate for car loan.
      Was this review helpful? 1
      , kolkata
      Reviewed on May 14, 2015
    • UCO Car Loan
      "Did not get response..."
      0.5 1.0/5 "Really Bad"
      I was informed that UCO bank will approve the car loan in turn around time of three days but they contacted me only after I have taken the vehicle. As on my view, I will not appreciate the customer service of UCO bank and recommending them to give better response to customers.
      Was this review helpful? 0
      , chennai
      Reviewed on May 14, 2015
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.