| 1 |
Who are eligible? |
- Customers maintaining a Savings Account with our bank from the last 12 months or more.
- Age of the customer must be between 21-60 years
- Mode of operation should be Self, Constitution should be Individual and account should be active
- No other linked account should be SMA-1, SMA-2, or NPA at the time of updating the base table
- The account should not be PMJDY/ no-frill/ Staff/ illiterate CIBIL score should be 725 or more
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| 2 |
Maximum Permissible Deductions |
- Minimum take home after all deductions of existing obligation including proposed Personal Loan EMI should be at least 40% of Net Monthly Income.
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| 3 |
Amount of loan |
- Minimum: Rs. 25,000/-
- Maximum: Rs. 4.00 lakh,
- subject to eligibility and amount requested.
- If customer has already availed PQPL/PAPL, his new limit will be calculated after deducting the current outstanding from the eligible limit
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| 4 |
Repayment period |
- Between 6 months and 48 months.
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| 5 |
Rate of interest |
- UCO Float + 2.45%, if CIC score ≥ 775
- UCO Float + 3.20%, if CIC score ≥ 750 and less than 775
- UCO Float + 3.70%, if CIC score between 725 to 749
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| 6 |
Processing & documentation charges |
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| 7 |
How to access this digital journey |
- This end to end digital journey may be accessed through desktop or mobile phone, using the link shared by the bank
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| 8 |
Other salient features |
- End to end digital loan in less than 30 seconds
- Cool off period of 3 days from date of sanction/disbursement
- Customer has the flexibility to adjust the EMI through change in Tenure and loan amount through the dynamic slider functionality inbuilt in the journey
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