Personal Loan

UCO CASH LOAN SCHEME GUIDELINES

To extend financial assistance to certain segment to meet expenses like marriage, education, social obligations, Agricultural needs etc.

Eligibility

Minimum age of applicant be 21 years

1. Central/State Government:
   • Departments/Undertakings/Entities
   • Public Sector Undertakings
   • Educational Institutions/Aided Educational Institutions
   • Autonomous Bodies
     • Applicant has completed minimum 1 years of service in the same organization
     • Applicant should be a permanent employee

2. Other than Govt. Employees:

   Private Universities/Colleges/Schools Teaching Staff & employees of ltd. & Pvt. ltd. Companies

   • Applicant should be permanent & confirmed employee and have completed min. 2 years of service in same organisation
   • Applicants salary account should be maintained with our Bank.

3. Non Salaried Class:

Income Criteria

GMI upto 1 lakh - Net take home pay should not be less than 40% of gross salary (subject to minimum monthly take home pay of  Rs.15,000).

GMI above 1 Lakh- 30 % of gross salary

Other income like rent, interest, dividend etc. may be taken into account for reckoning the eligible quantum of loan subject to documentary evidence like IT Returns etc.

Quantum of loan

1. For Employees of Central/State Government as defined under Eligibility
   • Maintaining salary account with our Branch: 20 times of Gross Monthly Income subject to maximum of 20 Lacs
   • Without Salary Account: 5 times of Gross Monthly Income subject to maximum of Rs.5 Lacs
2. For other than Government Employees
   • 10 times of Gross Monthly Income subject to maximum of Rs.10.00 Lacs
3. Non Salaried: 5 times of Gross monthly income subject to maximum of Rs.5 Lacs

Security

No collateral security required.

Rate of Interest

For Central / State Govt Employee with Salary Account with UCO Bank

CIBIL Score	Rate of Interest
≥ 775	UCO Float Rate+1.65% i.e. 10.95% p.a. at present
≥ 750 and ≤ 774	UCO Float Rate+1.90% i.e. 11.20% p.a. at present
≥ 700 & ≤ 749	UCO Float Rate+2.15% i.e. 11.45% p.a. at present
≥ 650 & ≤ 699	UCO Float Rate+2.65% i.e. 11.95% p.a. at present
≤ 649	UCO Float Rate+3.65% i.e. 12.95% p.a. at present

For Central / State Govt Employee without Salary Account with UCO Bank

CIBIL Score	Rate of Interest
≥ 775	UCO Float Rate+1.90% i.e. 11.20% p.a. at present
≥ 750 and ≤ 774	UCO Float Rate+2.15% i.e. 11.45% p.a. at present
≥ 700 & ≤ 749	UCO Float Rate+2.40% i.e. 11.70% p.a. at present
≥ 650 & ≤699	UCO Float Rate+2.90% i.e. 12.20% p.a. at present
≤ 649	UCO Float Rate+3.90% i.e. 13.20% p.a. at present

For Other then Govt Employee

CIBIL Score	Rate of Interest
≥ 775	UCO Float Rate+2.65 % i.e. 11.95 % p.a. at present
≥ 750 and ≤ 774	UCO Float Rate+2.90% i.e. 12.20% p.a. at present
≥ 700 & ≤ 749	UCO Float Rate+3.15% i.e. 12.45% p.a. at present
≥ 650 & ≤ 699	UCO Float Rate+3.65% i.e. 12.95% p.a. at present
≤ 649	UCO Float Rate+4.65% i.e. 13.95% p.a. at present

^*Presently UCO Float Rate is 9.30%.

For Non Salaried Class:

CIBIL Score	Rate of Interest
≥ 775	UCO Float Rate+2.65% i.e. 11.95% p.a. at present
≥ 750 and ≤ 774	UCO Float Rate+2.90% i.e. 12.20% p.a. at present
≥ 700 & ≤ 749	UCO Float Rate+3.15% i.e. 12.45% p.a. at present

Repayment

1. For Employees of Central/State Government as defined under Eligibility
   • 84 Equated Monthly Instalments

 

2. For other than Government Employees
   • 60 Equated Monthly Instalments

 

3. For Non Salaried:
   • 60 Equated Monthly Instalments

Repayment period in all cases to be fixed such that entire Loan Is repaid one year before retirement and for non salaried- before the applicant reaches the age of 60 years.

Processing Charge

1 % of loan amount (minimum Rs.750/-)

Document Checklist

Pensioner who receive pension through our Bank Branch and Ex-Employees of our Bank, drawing pension through UCO Bank Branch shall be eligible.

Purpose

1. Medical Exp. For self/ spouse/dependent children
2. Payment of Mediclaim premium for self and dependents
3. Marriage expenses in the family
4. Education expenses of dependent children
5. TTravelling Expenses
6. Repair of house property / dwelling
7. Funeral expenses
8. Agriculture needs

Quantum of loan

1. For Pensioners having provision of family pension and Spouse is alive:
   • 12 times of monthly pension subject to
     • Maximum Rs. 10.00 lac for age up to 70 years.
     • Maximum Rs. 5.00 lac for age above 70 years to 74 years
2. For following categories of customers:
   • Family pensioners i.e. Spouse of receiving pension after death of the Pensioners.
   • Pensioners without family pension provision
   • Pensioners where spouse is predeceased

   10 times of monthly pension subject to maximum of Rs. 3.00 lacs.

Processing Charges

There is no processing charge or service charge.

Rate of Interest

For Staff Customer

UCO Float + 2.55 % (i.e. 9.30+ 2.55= 11.85%)

For Others

UCO Float + 3.55 % (i.e. 9.30+ 3.55= 12.85%)

 

*UCO Float Rate is 9.30% at present.

Repayment

Loan to be fully repaid before the pensioner reaches 75 years of age and no new personal loan to be sanctioned after the age of 74 years.

1. Maximum in 48 monthly installments
2. For Pensioners having provision of family pension & spouse is alive : Repayment Period of the loan be so fixed that the loan is fully repaid before the pensioner reaches 75 years of age. However, the maximum age, at the time of applying for the loan, not to exceed 74 years.
3. For the following categories of the customers: Loan should be repaid in 48 EMIs or before the Pensioner reaches 72 years of age, whichever is earlier.
   • Family pensioners i.e. Spouse receiving pension after death of the Pensioners.
   • Pensioners without family pension provision
   • Pensioners where spouse is pre deceased.

Pre-payment Charges:

Guarantee

1. Personal Guarantee of spouse eligible to receive family pension in the event of the death of the pensioner.
2. In case of war widow/ widows if co-borrower is not available, a third party guarantee having sufficient income.

Document Checklist

For more details, please contact your nearest UCO Bank branch

An easy finance scheme for purchase of consumer durables such as Television, Refrigerator, Air Conditioner, Computer or any other Electrical or Electronics gadgets etc.

Eligibility

1. Existing customer of UCO Bank for a minimum period of six months
2. 2. A self-employed/Professional/Businessman or A permanent employee of Govt. / SemiGovt./PSU/Universities or reputed private concerns with minimum service of 1 year and minimum remaining 5 years’ service period.

Income Criteria

1. Salaried borrower
   1. Minimum gross salary of Rs.30000/-p.m at Metro Centres and Rs.20000/-p.m for other centres.
   2. Minimum take home income of 40% p.m. after all deductions and EMI of the proposed loan or Rs.10000/-whichever is higher.
2. Non-salaried borrower
   1. Minimum income of Rs. 4 lac p.a at all centres as per latest IT Return.
   2. Minimum 40% surplus after considering EMI of proposed personal loans and Income Tax and any other obligations or Rs.10000/- whichever is higher.

Age Criteria

1. Salaried Borrower : 21 to 60 years
2. Non-Salaried Borrower : 21 to 65 years

Amount of Loan

Maximum Loan Amount Rs.200000/- or 10 times of monthly take home pay whichever is less.

Processing Charge

1.00% of the loan amount with MinimumRs.1000/-

Margin

20% of the total article cost

Repayment

Maximum 60 Equated Monthly Installments.

Rate of Interest

a) For Employees of Central/State Government as defined under Eligibility

  UCO Float Rote + 1.55% i.e. 9.30% +1.55% presently 10.85% p.a in case of Salary tie-up or 100% liquid Collateral Security is offered

b) For other than Government Employees

  UCO Float Rate + 2.55% i.e. 9.30% + 2.55% presently 11.85% p.a for all other cases

Prepayment Charges

No pre-payment charges.

For more details please contact nearest UCO Bank branch.

Under the scheme credit facilities are extended to borrowers against financial securities issued by Central Govt./State Govt./RBI in the form of National Savings Certificates, Kisan Vikas Patra, Govt. Securities and Relief Bonds. Loans are also available against Life Insurance Policies of Life Insurance Corporation of India and bonds/debentures issued by specific Public Financial Institutions.

Eligibility

1. The securities should be in the name of the borrower or any one of the joint borrowers.
2. The securities should be transferable and can be assigned/pledged in favor of the Bank or transferred in the name of the Bank.

Margin

Margin will be on the discounted value of the maturity proceeds (not the face value) of the financial security discounted at Base Rate.

Nature of Facility

Demand Loan, Overdraft, Cash Credit

Rate of Interest

  UCO Float Rate + 2.60% i.e. 9.30% + 2.60% presently 11.90% p.a. at monthly rests

Repayment

Remaining period of maturity (maximum 5 years).

Processing Charges

Rs.250 per case

For more details, please contact your nearest UCO Bank branch.

Type of Loan

Demand Loan

Objective/Purpose

To enable Borrowers in Rural/ Semi-urban/Urban/Metropolitan areas to avail of easy and instant credit facilities for the purpose which are categorized as Priority Sector Activities like Agriculture, Retail Trade, Small Business, Micro & Small Enterprises, Education , Housing etc.

Eligibility

1. Loan against security of gold ornaments can be made to all Borrowers who would avail such loan for Agriculture & Allied Activities, Activities related to Micro & Small Enterprises, Retail Trade, Housing, Education etc.
2. Necessary declaration from the eligible borrowers will be required to be obtained specifying the purpose of such loan at the time of sanction.

Margin

1. Loan against security of gold ornaments can be made to all Borrowers who would avail such loan for Agriculture & Allied Activities, Activities related to Micro & Small Enterprises, Retail Trade, Housing, Education etc.
2. Necessary declaration from the eligible borrowers will be required to be obtained specifying the purpose of such loan at the time of sanction.
3. A margin of 25% is to be maintained on the market price of the gold.

Amount of loan to be sanctioned per Gram of Gold

Maximum amount that can be sanctioned per gram of standard gold will be decided by Head Office fortnightly and will be dully communicated to the Zones/Branches .

Assesse/Testing of Gold Ornaments

1. All gold ornaments before being accepted as security should be apprised by an experienced Gold Smith for its weight, purity and fineness.
2. For this purpose a Gold smith having good reputation for his professional skill and undoubted integrity should be identified by conducting discreet enquiries.

Rate of Interest

a) For Employees of Central/State Government as defined under Eligibility

  UCO Float Rate + 3.15% i.e. 9.40% + 3.15% presently 12.55 % p.a

b) For other than Government Employees

  UCO Float Rate + 3.40% i.e., 9.40% + 3.40% presently 12.80 % p.a.

Service Charges

(A) For Priority Sector

1. Upto Rs. 10 Lac : Rs. 250/-
2. Above Rs. 10 Lac : Rs. 500/-

(B) For Non Priority Sector

1. Upto Rs. 5 Lac : Rs.500/-
2. Above Rs. 5 Lac to Rs. 10 Lac: Rs.1000/-
3. Above Rs.10 Lac @0.20% on quantum of loan subject to a maximum of Rs.5000/-.

For Further details contact nearest branch.

With UCO Bank's personal loans, quick approvals and disbursements, you'll be able to fund your financial needs at the drop of a hat. Apply for your loan today with us to fulfill all your dreams and live your life to the fullest.