UCO Bank, formerly United Commercial Bank, established in 1943 in Kolkata, is one of the oldest and major commercial banks of India. Being a Commercial Bank, giving Loans and Advances is among their primary activities. Apart from their participation in meeting both Term Loan and Working Capital requirements of Agriculture sector, Trade and Service sector, Large/Medium and Small Scale Industries sector, Infrastructure sector etc. including taking care of their Export/Import and non-fund based needs like Letter of Credit, Bank Guarantee etc., we have a fairly large basket of loan products specially designed to suit your personal needs.UCO Home finance scheme brings to you an excellent opportunity to have your own house or flat. The scheme has been carefully tailored to suit your requirements. The reasonable rate of interest that you pay will be calculated on reducing balance, i.e. you do not have to pay interest on the loan installments actually repaid from the date of such repayment. To know more, follow some simple steps given below to get attractive deals.
At least 21 years old
Less than 70 years old
Salaried or self-employed
with regular income
Earn more than the minimum
Earn more than the minimum
Loan capped @ 75% to 80% of property value
EMIs of other loans lower
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 30 years
Alternatively add your parents
|Interest Rate||8.55% to 8.70%|
|Loan Tenure||30 years|
|Guarantor Requirement||No guarantor required|
When it comes to buying an abode of your own, home loans are a necessary requirement for most Indians. In this regard, the UCO Bank Home Loan is tuned specifically to the expectations and limitations of the average Indian. With friendly features like competitive interest rates, and the adoption of the popular reducing balance model, UCO Bank Home Loans have garnered a rich fan following and an enviable reputation in the market. When it comes to the busy city slicker or the rural Indian folk, home loans from UCO Bank is one of the most preferred option.
UCO Bank is a nationalized bank which was founded in the year 1943. The bank provides a range of banking and financial services while fulfilling its larger goal of socio-economic growth of the nation. UCO is a popular choice amongst both the urban and rural customers. Headquartered in Kolkata, the bank has 45 zonal offices spread across the length and breadth of the country. The bank also has overseas presence and offers Core Banking Solutions to both Indian and foreign customers.
The operating keyword when talking of the UCO Bank Home Loans is the convenience offered, the professional service rendered and the attention to details. From the convenience of applying online to incredibly comfortable interest rates, from 0% prepayment charges to a very nominal processing fee, UCO Bank Home Loans has covered all the bases and strives to constantly improve its product offering.
At just 9.60%, the UCO Bank home loan interest rate stands at the shallow end of things. Popular and immensely affordable, this interest rate applies for loan amounts that are up to Rs.30 lakhs, from Rs.30 lakhs to Rs.75 lakhs and the top bracket at Rs.75 lakhs and above. An additional advantage is the fairly relaxed maximum repayment tenure of 30 years.
The Marginal Cost of Funds-based Lending Rate (MCLR) of UCO Bank effective from April 1, 2016, is delineated in the table below:
The MCLR of 1 Year is added with 0.15%, hence the effective rate becomes 9.60% p.a.
The home loan from UCO Bank is a complete 360* product. Offering a defined set of features that sets it apart from its immediate competition in the Indian home loan market, UCO Bank Home Loans offers the following convenience-
Quite naturally, and thanks to features as listed above, home loans from UCO are a preferred commodity.
The principal features of the UCO Bank Home Loan and the benefits associated with subscribing to it are listed below,
Individuals who are between 21-70 years of age and who earn a regular income are eligible to apply for this loan. The applicant can be an Indian citizen or an NRI. The loan amount is capped at 75-80% of the property value and outstanding loans from other banks can affect the total amount that is loaned out to a customer.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.