Being a Commercial Bank, giving Loans and Advances is among our primary activities. Apart from our 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. Salient features of some of the more attractive Personal Loan Schemes are described below.
Fixed Rate: Additional Fixed Rate Premium (FRP) of 1.00% over and above the applicable card rate at the time of sanction/switchover when customer opts for fixed rate option. Fixed Rate Premium will be revised by Bank from time to time based on fluctuation in Repo Rate.
Regular full-time Degree/ Diploma courses and Part-time courses offered by Institutes eligible under the scheme, admission in which is obtained through an Entrance Test/Selection Process/ Percentage of marks as prescribed by the Institute would be allowed.
Age Limit : No minimum and maximum age criteria.
Quantum of Finance: Need Based
Margin
Up to Rs. 4 lacs : Nil Margin. Above Rs. 4 lacs : Upto 15%.
Security : Click here for security details:
(Table of Security Detail – hyperlinked to security)
Category of Educational Institutes
No Security, only Parent/ Spouse/ Guardian as co-borrower
With tangible collateral 100% of full value and Parent/Spouse/ Guardian as co-borrower
List 'A'
Rs. 40 lacs
Above Rs. 40 lacs
List 'B'
Rs. 30 lacs
Above Rs. 30 lacs
List 'C'
Rs. 10 lacs
Above Rs. 10 lacs
Repayment :
Repayment of the loan will be maximum 180 equated monthly installments (EMIs*). (i.e. 15 years maximum)
Holiday Period/Moratorium: Course Period + 1 Year
Processing Charge : NIL
Documentation Charge : NIL
Rate of Interest:
List
With Nil collateral
A
With at least 100% collateral
B
With less than 100% collateral*
A
UCO Float -0.40% i.e. 8.90% p.a. at present.
UCO Float - 0.70% i.e. 8.60% p.a. at present.
UCO Float - 0.50% i.e. 8.80% p.a. at present.
B
UCO Float i.e. 9.30% p.a. at present.
UCO Float - 0.40% i.e. 8.90% p.a. at present.
UCO Float - 0.15% i.e. 9.15% p.a. at present.
C
UCO Float + 1.70% i.e. 11.00% p.a. at present.
UCO Float + 0.70% i.e. 10.00% p.a. at present.
UCO Float + 1.20% i.e. 10.50% p.a. at present.
Float rate (9.30% at present) is subject to change as and when Repo rate changes.
UCO Udaan Scheme aims at providing financial support from the banking system to meritorious female students at preferential terms, who have secured admissions in Premier Educational Institutes of the country.
Regular full-time Degree/ Diploma courses and Part-time courses offered by Institutes eligible under the scheme, admission in which is obtained through an Entrance Test/Selection Process/ Percentage of marks as prescribed by the Institute would be allowed.
Age Limit : No minimum and maximum age criteria.
Quantum of Finance: Need Based
Margin
Up to Rs. 4 lacs : Nil Margin. Above Rs. 4 lacs : Upto 15%.
Security : Click here for security details:
(Table of Security Detail – hyperlinked to security)
Category of Educational Institutes
No Security, only Parent/ Spouse/ Guardian as co-borrower
With tangible collateral 100% of full value and Parent/Spouse/ Guardian as co-borrower
List 'A'
Rs. 40 lacs
Above Rs. 40 lacs
List 'B'
Rs. 30 lacs
Above Rs. 30 lacs
List 'C'
Rs. 10 lacs
Above Rs. 10 lacs
Repayment :
Repayment of the loan will be maximum 180 equated monthly installments (EMIs*). (i.e. 15 years maximum)
Holiday Period/Moratorium: Course Period + 1 Year
Processing Charge : NIL
Documentation Charge : NIL
Rate of Interest:
List
With Nil collateral
A
With at least 100% collateral
B
With less than 100% collateral*
A
UCO Float - 0.50% i.e. 8.80% p.a. at present.
UCO Float - 0.80% i.e. 8.50% p.a. at present.
UCO Float - 0.60% i.e. 8.70% p.a. at present.
B
UCO Float - 0.10% i.e. 9.20% p.a. at present.
UCO Float - 0.50% i.e. 8.80% p.a. at present.
UCO Float - 0.25% i.e. 9.05% p.a. at present.
C
UCO Float + 1.60% i.e. 10.90% p.a. at present.
UCO Float + 0.60% i.e. 9.90% p.a. at present.
UCO Float + 1.10% i.e. 10.40% p.a. at present.
Float rate (9.30% at present) is subject to change as and when Repo rate changes.
UCO Aspire Scheme aims at providing financial support from the banking system to meritorious students who have Secured admission to a higher education course abroad
Courses eligible:
All existing courses offered by Institutes/ Universities with world ranking up to 1500 as available in the website www.webometrics.info.
Age Limit : No minimum and maximum age criteria.
Quantum of Finance: Need Based
Margin : 10% to 15%.
Security : Co-obligation of Parents/ spouse/guardian and Tangible collateral security as applicable
Repayment :
Repayment of the loan will be maximum 180 equated monthly installments (EMIs*). (i.e. 15 years maximum)
Holiday Period/Moratorium: Course Period + 6 Months
Processing Charge : Processing Fee of 0.50 % of Loan amount subject to maximum of Rs.10,000/- + applicable GST.
Documentation Charge : Up to Rs.25,000/- : Nil
Above Rs.25,000/-: Rs.250/- per Lac subject to maximum* Rs.25,000/-
Rate of Interest:
Webometrics Ranking
A
With at least 100% collateral
B
With less than 100% collateral *
UP TO 200
UCO Float - 0.35% i.e. 8.95% p.a. at present.
UCO Float - 0.15% i.e. 9.15% p.a. at present.
201-500
UCO Float - 0.25% i.e. 9.05% p.a. at present.
UCO Float i.e. 9.30% p.a. at present.
501-1500
UCO Float i.e. 9.30% p.a. at present.
UCO Float + 0.50% i.e. 9.80% p.a. at present.
Float rate (9.30% at present) is subject to change as and when Repo rate changes.
Skill Loan Scheme aims at providing a loan facility to individuals who intend to take up skill development courses.
Courses Eligible
Course run by Industrial Training Institutes (ITIs), Polytechnics or in a school recognized by central or State education Boards or in a college affiliated to recognized university, training partners affiliated to National Skill Development Corporation (NSDC)/Sector Skill Councils, State Skill Mission, State Skill Corporation, preferably leading to a certificate / diploma / degree issued by such organization as per National Skill Qualification Framework (NSQF) is eligible for a Skilling Loan.
Minimum Age
No minimum age.
Quantum of Finance
Minimum: 5,000/- and
Maximum: 1,50,000/-
Margin
NIL
Moratorium Period
For courses of duration upto 1 year - 6 months from the completion of the course.
For courses of duration above 1 year - 12 months from the completion of the course.
Simple Interest will be charged during the course period and up to commencement of repayment.
Servicing of interest during study period and the moratorium period till commencement of repayment is optional for students.
1% interest concession may be provided by the Bank, if interest is serviced during the study period and subsequent moratorium period prior to commencement of repayment.
Processing Charges
NIL
Security
No collateral or third party guarantee will be taken. However, the parent will execute loan document along with the student borrower as joint borrower.
Credit guarantee coverage by NCGTC at nominal fee of 0.50% of the amount outstanding. This guarantee fee will be borne by the Bank.
Repayment
Loans upto Rs. 50,000 - Upto 3 years
Loans between Rs. 50,000 to Rs.1 lakh - Upto 5 years
