UCO Bank

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UCO Bank Pension Loan Features

UCO Bank Pension Loan Interest Rate 3.40%
UCO Bank Pension Loan Processing Fee 1%
UCO Bank Pension Loan Tenure 36 months
UCO Bank Pension Loan Amount Minimum Rs. 25000
UCO Bank Pension Loan Amount Max 14 lacs
UCO Bank Family Pension Loan Amount Minimum 2.5 lacs
UCO Bank Family Pension Loan Amount Max. 5 lacs
UCO Bank prepayment 3%
UCO Bank foreclosure 3%

UCO Bank Pension Loan Eligibility

For the UCO Bank to be eligible for a loan, one of the prerequisites is that one of all former employees of the company includes a rental statement. It would be easier if you were the beneficiary of the government, PSU or central government at the same time. You can take home 60% of the monthly rent together when you pay the bank fee.

UCO Bank Pension Loan Eligibility for Central and State Government Pensioners

Eligibility Criteria Key Features
Employer Type Central and State Government
Applicant’s Age Below 76 years of age
Account Type Pension payment order maintained by Bank
Treasury Terms Written consent from the treasurer not to accept any pension transfer requests
Guarantee Terms By the spouse (eligible for a family pension) or any other third party

UCO Bank Pension Loan Eligibility For Defence Pensioners

Eligibility Criteria Key Features
Employer Type Armed Forces, Paramilitary Forces, Coast Guards, Rashtriya Rifles, Assam Rifles
Applicant’s Age Below 76 years of age
Account Type Pension payment order maintained by Bank
Treasury Terms Not applicable
Guarantee Terms Not applicable

UCO Bank Pension Loan Eligibility For Family Pensioners

Eligibility Criteria Key Features
Employer Type Central and State Governments including all Armed Forces
Applicant’s Age Below 76 years of age
Account Type Pension payment order maintained by Bank
Treasury Terms Not applicable
Guarantee Terms Authorized members of the family under the family pension scheme

Maximum Eligible Loan Amount and repayments

For Central and State Government Pensioners:

Age Max Loan Amount (18 months Pension or Less) Repayment Period Age at the time of full Repayment
Below 72 years ₹ 14.00 Lakh 60 months Up to 77 years
72 – 74 years ₹ 12.00 Lakh 48 months Up to 78 years
74 – 76 years ₹ 7.50 Lakh 24 months Up to 78 years

For Defense Pensioners:

Age Max Loan Amount (18 months Pension or Less) Repayment Period Age at the time of full Repayment
Below 56 years ₹ 14.00 Lakh 84 months Up to 63 years
56 – 72 years ₹ 14.00 Lakh 60 months Up to 77 years
72 – 74 years ₹ 12.00 Lakh 48 months Up to 78 years
74 – 76 years ₹ 7.50 Lakh 24 months Up to 78 years

For Family Pensioners (including Defense Pensioners):

Age Max Loan Amount (18 months Pension or Less) Repayment Period Age at the time of full Repayment
Below 72 years ₹ 5.00 Lakh 60 months Up to 77 years
72 – 74 years ₹ 4.50 Lakh 48 months Up to 78 years
74 – 76 years ₹ 2.50 Lakh 24 months Up to 78 years

Interest Rate On UCO Bank Personal Loan For Pensioners

The loan prices for the UCO Pension Loan are, for example, 3.40% lower than the termination of the terms of the former retirees on their termination days.

Document Required For UCO Bank Pension Loan

Income proof:- Bank Account Statement and PaySlips

Identity proof:- Passport, Voter ID card, Pan Card, Driving License, Aadhaar Card. (you can present any of these)

Address proof: Ration Card, Bank Account Statement, Passport, Driving License, Light bills, Property purchase contract, Aadhaar Card. (you can present any of these)

Loan Amount On UCO Bank Personal Loan For Pensioners

The minimum loan amount is Rs. 25000 The maximum amount of the loan is 14 lacs and, therefore, the amount of the loan depends on the life of the pensioner and hence the pension he/she chooses.

For State and Central Government Pensioners:

Age Minimum Loan Amount Maximum Loan Amount Additional Ceiling Amount Loan Tenure
Less Than 72 Years 25000 14 Lakh 18 Months Pension 60
72 to 74 Years 25000 12 Lakh 18 Months Pension 48
74 to 76 Years 25000 7.5 Lakh 18 Months Pension 24

For Defence Pensioners:

Age Minimum Loan Amount Maximum Loan Amount Additional Ceiling Amount Loan Tenure
Up to 56 Years Rs 25000 14 Lakh 36 Months Pension 84
Less Than 72 Years Rs 25000 14 Lakh 18 Months Pension 60
72 to 74 Years Rs 25000 12 Lakh 18 Months Pension 48
74 to 76 Years Rs 25000 7.5 Lakh 18 Months Pension 24

For Family Pensioners:

Age Minimum Loan Amount Maximum Loan Amount Additional Ceiling Amount Loan Tenure
Less Than 72 Years 25000 5 Lakh 18 Months Pension 60
72 to 74 Years 25000 4.5 Lakh 18 Months Pension 48
74 to 76 Years 25000 2.5 Lakh 18 Months Pension 24

About UCO BankUCO Bank Pension Loan

UCO Bank, previously United Commercial Bank, founded in the year 1943 in Kolkata, is a central government-owned commercial bank of India. During FY 2013–14, its real business was ₹ 4.55 lakh crore. Based on the year 2014 data, it is ranked 1860 on the Forbes Global 2000 list. UCO Bank was ranked 294th position among India’s most trusted brands.

FAQs on UCO Bank Pension Loan

✅ Can you get a loan on a pension?

UCO Bank pension loan is easy for the beneficiaries of Central and State Governments. Protection of pensioners and families of pensioners above 76 years of age.

✅ How much loan can a pensioner get?

The amount of personal credit loan for beneficiaries alternates for several advance benefit providers. UCO Bank pension loans can benefit from Rs 14 lacs to Rs 25,000.

✅ What is the pension loan scheme?

The UCO Bank Pension Loan Scheme incorporates the financial needs of government, defence and family pension after retirement.

✅ How can you get UCO Bank Pension Loan?

You can apply online on Dialabank, or you can ask your inquiries at 9878981166

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