UCO Bank Gold Loan Key Features – Apply Now
|UCO Bank Gold Loan Interest Rate||7.0% per annum|
UCO Bank Gold Loan Rate Per Gram
|Rate Per Gram is ₹ 5,044|
UCO Bank Processing Fee
1.0% of the Principal Loan Amount
UCO Bank Maximum Loan Amount
Up to Rs. 1 Crore (With Income Proof)
UCO Bank Minimum Loan Amount
Up to 70% LTV
UCO Bank Prepayment Charges
2%+GST (Within 3 Months), 0 (After 3 months)
UCO Bank Repayment Tenure
Up to 36 Months
UCO Bank Repayment Scheme
Bullet Payment Scheme, Overdraft Scheme
Each Feature Explained in Detail Below
Advantages of UCO Bank Gold Loan
- Multipurpose – UCO Bank Gold loan can be used for fulfilling any need of the applicant which can be a personal expense like a wedding or a vacation or any business purpose such as buying raw material, expansion, etc.
- Quick approval – Gold Loan from UCO Bank is quickly approved if the applicant is an existing account holder with the bank. In this case, the applicant does not require any documents; he/she just need to visit the branch of the bank with the gold that is to be pledged.
- High quantum – Borrowers can avail UCO Bank Gold loan in different denominations, subject to their requirement and background.
- Competitive interest – UCO Bank Gold loan comes at a competitive rate of interest, making repayment light on the pocket and provides convenient methods for the same.
- Prepayment – Borrowers can choose to prepay the UCO Gold loan without the worry of prepayment charges.
- Foreclosure – The borrowers have to pay about 0.50% of principal amount as foreclosure charges.
- UCO Bank gives funding of up to 70% of the total market price of your gold, keeping the remaining 30% as a security margin.
How Much Gold Loan Can I Get Through UCO Bank Gold Loan?
On the basis of the latest gold prices, UCO Bank is offering gold loans per gram for Rs 5121. The Maximum UCO Bank gold loan rate per gram today is ₹ 5,121 for 24-carat jewelry calculated at a maximum LTV of 75% and average gold loan prices of the last 30 days in 2020 are ₹ 5,121 of 22 carats.
Uco Bank Gold Loan Per Gram – Updated January 2021
Updated - Gold Loan Per Gram Rate w.e.f 1st Jan 2021
About UCO Bank Gold Loan
United Commercial Bank (UCO) of India is one of the largest public sector banks, a commercial bank and a Government-owned bank. The bank was founded by Ghanshyam Das Birla on 6 July 1943. The bank has ranked 1860 on Forbes Global 2000 list. The bank has 4000 plus service units, and 49 zonal offices spread all over India.
UCO Bank offers a Gold Loan to meet the financial requirements of customers who require immediate cash against their gold assets. UCO Gold loan provides an effective solution to meet temporary monetary contingencies. The funds from the Gold loan can be used for weddings, education, business expansion or any other similar purpose. With minimal documentation and secure storage, the UCO gold loan is a simple funding option to meet your needs.
- UCO Bank Gold Loan Interest Rate is 7.0% per annum
- UCO Bank Gold Loan Per Gram Rate is ₹ 5,121
- UCO Bank Gold Loan Tenure: Up to 36 months
- UCO Bank Gold Loan Processing Fee is Up to 1.0% of the Loan Amount + GST
UCO Bank Gold Loan Eligibility
UCO Bank Gold Loan is a financial product provided by the bank which caters to your needs of short term or long term funds. It is easy to avail financial service provided by banks at low rates of interest and also requires minimal documentation for the same. UCO Bank gives you the Loan amount within an hour of application as the valuation and approval process is quickly done, keeping in mind your urgency regarding the need for funds.
Major Eligibility criteria for availing the UCO Bank Gold Loan is:
Gold ornaments (18-22 carats)
|CIBIL score||Above 500|
UCO Bank Gold Loan Documents Required
Gold Loan or Loan Against Gold is a loan product offered to the borrowers by the UCO Bank wherein funds are provided for fulfilling the financial needs of the applicant. The gold ornaments of the applicant are kept as security by the bank in exchange for the funds. The entire UCO Bank Gold Loan process is hassle-free and easy to get with minimal documentation. The bank ensures high security of your gold ornaments till the loan is closed.
Documents required for Applying for UCO Bank Gold Loan are :
Aadhar Card/Pan Card/ Passport/ Voter ID (Any one)
Aadhar Card /Pan Card/ Ration Card/ Utility Bills on the name of the applicant/ Rental Agreement of applicant/ Voter ID card (Any one)
Agriculture Proof ( if applicable)
Agriculture Land Ownership Proof
2 Passport sized coloured
UCO Bank Gold Loan Interest Rate, Fees and Charges
UCO Bank Gold Loan can fulfil all your urgent short term and long term monetary requirements. The rate of interest that you will be charged with depends on the total loan amount as well as the quality/purity of the gold you are to keep as security with the bank. Gold Loan interest rates offered by UCO Bank are lower in comparison to other loans because it is a fully secured loan.
|UCO Bank Gold Loan Interest Rate||7.0% per annum|
1.0% of the Principal Loan Amount
2%+GST (Within 3 Months), 0 (After 3 months)
Rs 250 for a loan up to Rs 1.5 lacs and Rs 500 for a loan over and above Rs 1.5 lacs
Late Repayment Charges
2% p.a. + Applicable rate of interest.
Renewal Processing Fees
|Rs 350 + GST|
Types of UCO Bank Gold Loan
- Agricultural purpose: UCO Bank of farming purposes offers credit against gold at just 7.0% rate of interest.
- Non-Agricultural purpose: The rates of interest are slightly higher for non-agricultural purpose loans.
- Retail: The rate of interest varies from 1 year MCLR + 0.20% to 1 year MCLR + 3.155 for priority and non-priority sectors respectively.
UCO Bank Gold Loan Apply Online
Applying for the UCO Bank Gold Loan service is a simple and hassle-free process which can be done from the comfort of your home. You can do it online by visiting the bank’s official website and submitting a form with necessary information regarding yourself and the Gold Loan you wish to avail. You will then need to visit the branch with the required documents and your gold.
You can also apply with Dialabank by following the below-mentioned steps to get a Gold Loan as per your need.
- Reach out to Dialabank and fill the details you are asked for.
- Our highly knowledgeable and trained Relationship Manager will reach you out very soon to guide you throughout the loan process.
- Get all the loan related services without being charged for the same.
- Dialabank will help to sail through the ocean of confusion by providing detail information about different options available for you to avail loan from.
UCO Bank Gold Loan EMI Calculator
|Rate of Interest||6 months||1 Yr||2 Yrs||3 Yrs|
How to Pay Your UCO Bank Gold Loan EMI?
Your UCO Bank gold advance can be reimbursed in the following three different ways.
- Standing Instruction (SI): If you are a current record holder with UCO Bank, Standing Instruction is the best method of repayment. Your EMI sum will be charged automatically toward the finish of the month to month cycle from the UCO Bank account you indicate.
- Electronic Clearing Service (ECS): This mode can be utilised if you have a non-UCO Bank account and might want your EMIs to be charged consequently toward the finish of the month to month cycle from this record.
- Post-Dated Checks (PDC): You can submit post-dated EMI checks from a non-UCO Bank account at your closest UCO Bank Loan Branch. A new arrangement of PDCs should be submitted on time. It will be ideal if you note Post Dated Checks will be gathered non-ECS areas as it were.
UCO Bank Gold Loan Contact Number
For any assistance in case of gold loan required you may contact on the number 9878981144.
Gold Ornaments Accepted by UCO Bank
Gold jewellery such as Gold Bangles, Gold rings, Gold anklets, and Gold necklaces, all of these are accepted for availing a Gold Loan.
Quality: The quality of gold should lie between 18 Carat to 22 Carat. Aby gold ornament which is 24 Carat, cannot be used for availing a gold loan.
Uses of UCO Bank Gold Loan
The funds acquired by availing the UCO Bank Gold Loan service can be used for several purposes such as:
- To finance any personal expenses such as a wedding, travel, payment of higher education fees, etc.
- For all your business needs, such as buying raw material, expansion of business, etc.
- You can also avail a Gold Loan for agricultural purposes. The bank offers lower rates of interest for Gold Loans that are used for agriculture or allied activities.
UCO Bank Agricultural Jewel Loan Scheme
|Scheme||Agricultural Jewel Loan Scheme|
|Interest Rate||Starting from 7% (depends on the sum of the loan|
|Least amount of Loan||Depends on the value of jewel which is being kept as security|
|Loan period||Adjustment of advance sum inside 2 months from the date of reap of yields|
Benefits of UCO Bank Agricultural Jewel Loan Scheme
- There is no processing fee is applicable up to ₹ 25,000
- 0.30% of the loan amount, Minimum of ₹ 300 charge is applicable to the amount ranging from above ₹ 25,000 – less than ₹ 5 lakh
- 0.28% of the credit sum, subject to at least Rs.1,500 is applicable to the amount more than Rs.5 lakh however under Rs.1 crore
UCO Bank Gold Loan Overdraft Scheme
UCO Bank Offers an Overdraft Scheme. With this, you are provided loan amount as an overdraft facility. It works like a Credit Card, where you can spend your Gold Loan Amount as you want anytime anywhere. The overall loan amount will have a Credit/Loan Limit. In the Dena Bank Gold Loan Overdraft facility, the bank charges interest only on the amount you withdraw/utilize.
FAQs About UCO Bank Gold Loan
UCO Bank Gold Loan is a loan against a gold scheme that comes with a maximum funding of 75% of the total market value of your gold. The loan amount can be used for all your personal and business needs. Gold Loan by UCO Bank is a financial product that can fulfil your short term fiscal requirements. If you are above the age of 18 years and are a permanent resident of the country with possession of gold you can apply for UCO Bank Gold Loan.
You can avail Gold Loan from the UCO Bank is a hassle-free and straightforward process:
- Fill in your vital information in the form available on Dialabank.
- Our trained Relationship Manager will get in touch with you within 30 minutes.
- We will suggest you the loan according to your requirements, in your specific city.
- Visit the assigned branch of the bank.
- Get the loan sanctioned in just 30 minutes.
Per gram Gold Loan rates in UCO Bank is Rs 5,121 and is calculated according to the purity of your gold and the current prevailing market rates.
The UCO Bank Gold Loan is a secure credit availing service available for those who have urgent cash requirements and can pledge gold ornaments as collateral security. Once the gold pledged with the bank is valued, the bank processes the loan amount in your indicated account immediately. Various repayment options are available for repaying the loan.
UCO Bank Gold Loan interest rates can be as low as 7.0% per annum depending on the amount and the purpose of your loan. They also charge some documentation, valuation, and processing fee from the applicant.
You can quickly check the status of your Gold Loan by contacting the loan officer at your loan branch.
You can easily calculate the gold loan interest rate in UCO Bank by subtracting the principal amount from the total sum to be paid.
You can get a maximum amount of Rs 1 crore on a UCO Bank Gold Loan as the bank offers around 75% of the gold ornaments’ market value.
The maximum tenure of your UCO Bank Gold Loan is up to 36 months. However, you’ll be required to renew your loan plan after a year.
A processing fee of up to 1% of the loan amount or ₹1000 whichever is higher is charged.
Renewal of Gold Loan can be done after the end of tenure by visiting the bank with all the loan documents. New terms are decided after revaluation of your gold, and the loan is renewed for another term.
Renew your Gold Loan with UCO Bank by visiting the official website of the bank and applying for the same. Your gold will undergo a revaluation process, and upon confirmation of terms, your Gold Loan will be renewed for another tenure.
Bank charges approximately Rs. 250- Rs. 500 for renewal of the gold loan.
UCO Bank charges nothing for prepayment of the gold loan.
For UCO Bank account holders, online payments can be made through the bank’s online portal or mobile application via net banking, debit cards or mobile wallets such as Paytm.
If someone defaults on the payments of UCO Bank Gold Loan interest for 3 months, a penalty fee is charged on the total amount due and in case of repeated defaults, the bank will have the authority to auction your gold ornaments to recover the amount publicly.
You can apply for the UCO Bank Gold loan moratorium online by logging in with your credentials or by personally visiting the main branch. The moratorium request has to be submitted at least five working days before the due date of your EMI.
As per RBI Guidelines, UCO Bank Gold loan cannot be repaid via credit cards. Other payments modes such as net banking, debits cards, cheques, DDs can be used for loan repayment.
✅What is UCO Bank Gold Loan Overdraft Scheme
UCO Bank Offers their Overdraft Scheme as a Credit Card, where the borrower spends the Gold Loan Amount as and when required. The overall loan amount comes with a Credit/Loan Limit. The interest is only charges on the amount of loan money that is utilized by the borrower.
✅What is the foreclosure procedure for UCO Bank Gold Loan?
UCO Bank asks from a borrower up to 0.50% of the principal amount as Gold Loan Foreclosure charges.
✅What is the UCO Bank Gold Loan closure procedure?
The UCO Bank Gold loan will only close after the payment is done in full.
✅ What is UCO Bank Gold Loan Preclosure charges?
The UCO Bank preclosure charges are 2%+GST (Within 3 Months) and 0 (After 3 months)
✅ What is the maximum gold loan tenure?
The maximum gold loan tenure is 36 months.
✅ What is the minimum gold loan tenure?
The minimum gold loan tenure is 6 months.
✅What is the customer care number for UCO Bank Gold Loan?
All the queries regarding UCO Bank is answered at 9878981144 .
Table of Contents
- 1 UCO Bank Gold Loan Key Features – Apply Now
- 2 Advantages of UCO Bank Gold Loan
- 3 How Much Gold Loan Can I Get Through UCO Bank Gold Loan?
- 4 About UCO Bank Gold Loan
- 5 UCO Bank Gold Loan Eligibility
- 6 UCO Bank Gold Loan Documents Required
- 7 UCO Bank Gold Loan Interest Rate, Fees and Charges
- 8 Types of UCO Bank Gold Loan
- 9 UCO Bank Gold Loan Apply Online
- 10 UCO Bank Gold Loan EMI Calculator
- 11 How to Pay Your UCO Bank Gold Loan EMI?
- 12 UCO Bank Gold Loan Contact Number
- 13 Gold Ornaments Accepted by UCO Bank
- 14 Uses of UCO Bank Gold Loan
- 15 UCO Bank Agricultural Jewel Loan Scheme
- 16 Benefits of UCO Bank Agricultural Jewel Loan Scheme
- 17 UCO Bank Gold Loan Overdraft Scheme
- 18 FAQs About UCO Bank Gold Loan
- 18.1 ✅ What is UCO Bank Gold Loan?
- 18.2 ✅ How can I get Gold Loan from UCO Bank?
- 18.3 ✅ How much Gold Loan can I get per gram in UCO Bank?
- 18.4 ✅ How does UCO Bank Gold Loan work?
- 18.5 ✅ What is the Gold Loan interest rate in UCO Bank?
- 18.6 ✅ How to check UCO Bank Gold Loan status?
- 18.7 ✅ How to calculate Gold Loan Interest in UCO Bank?
- 18.8 ✅ What is maximum loan amount I can avail on Gold Loan from UCO Bank?
- 18.9 ✅ What is the loan tenure of UCO Bank Gold Loan?
- 18.10 ✅ How much Processing Fee is applicable on UCO Bank Gold Loan?
- 18.11 ✅ How to renew UCO Bank Gold Loan?
- 18.12 ✅ How to renew UCO Bank Gold Loan online?
- 18.13 ✅ What are the charges for renewal in UCO Bank Gold Loan?
- 18.14 ✅ What are the charges for Prepayment in UCO Bank Gold Loan?
- 18.15 ✅ How to pay UCO Bank Gold Loan Interest online?
- 18.16 ✅ What if I can’t pay the interest on UCO Bank Gold Loan for 3 months?
- 18.17 ✅ How can I apply for EMI Moratorium on UCO Bank Gold Loan?
- 18.18 ✅How to pay UCO Bank Gold loan through credit card?
- 18.19 ✅What is UCO Bank Gold Loan Overdraft Scheme
- 18.20 ✅What is the foreclosure procedure for UCO Bank Gold Loan?
- 18.21 ✅What is the UCO Bank Gold Loan closure procedure?
- 18.22 ✅ What is UCO Bank Gold Loan Preclosure charges?
- 18.23 ✅ What is the maximum gold loan tenure?
- 18.24 ✅ What is the minimum gold loan tenure?
- 18.25 ✅What is the customer care number for UCO Bank Gold Loan?