UCO Bank Personal Loan

UCO Bank Personal Loan Key Features Jun 21 2021

Eligibility Criteria Details
Age 21 – 60 (at loan maturity)
CIBIL score Criteria Minimum 750 or above
UCO Bank Personal Loan Interest Rate 9.85% per annum
Lowest EMI per lakh Rs 2148
Tenure  12 to 60 months
UCO Bank Personal Loan Processing Fee 1% of the loan amount
Prepayment Charges Allowed after 12 Months (2 – 4 %)
Part-payment Charges Allowed after 12 Months (2 – 4 %)
Minimum Loan Amount  ₹50,000
Maximum Loan Amount  ₹ 20 Lakh

Each Feature Explained in Detail Below

All About UCO Bank Personal Loan

 

UCO Bank Personal Loan Interest Rates and Charges

UCO Bank Personal Loan Interest Rate 9.85% per Annum
UCO Bank Personal Loan Processing Charges 1% of Loan Amount
Prepayment Charges NIL
Stamp Duty As per state laws
Cheque Bounce Charges As per bank terms
Penal Interest N/A
Floating Rate of Interest Not Applicable

UCO Bank Personal Loan Status

You can check the status of your UCO Bank Personal Loan by the following methods –

  • Offline: You can contact them on 1800 274 0123 to check your personal loan status. You can also directly visit their nearest branch and meet the officer in charge.
  • Online: Log In to the UCO Bank Online Portal, Click on loans from the top ribbon and click on Enquire to check the status of your loan.

UCO Bank Personal Loan Eligibility Criteria

The eligibility criteria for the Loan are as follows:

CIBIL score Criteria 750 and Above
Age Criteria 21-60 years
Min Income  Criteria Rs 25000/month
Occupation Criteria Salaried/Self-employed

 

Salaried Applicant:

  1. The age required for the salaried applicant is a minimum of 21 years to a maximum of 60 years. 
  2. The income required for the salaried applicant for the Metropolitan city is Rs. 20,000 and for the Non-Metropolitan cities, the income required is Rs. 15,000.
  3. Work Experience of the applicant should be of 3 years and at least 6 months in the current company.
  4. The applicant’s salary should come to the respective bank accounts.
  5. For a UCO Bank Personal Loan, the CIBIL score required is more than 700 to get the approval of your Loan.

Self-Employed Applicant:

  1. The age of the self-employed applicant should be minimum of 25 years to a maximum of 65 years.
  2. The Income Tax Return should be of at least Rupees 2.5 lakh per annum, and it should be filed from the last 3 years.
  3. For the UCO Bank Personal Loan, the CIBIL Score required is more than 700. A good CIBIL Score means maximum funding.
  4. Before availing of a UCO Bank Personal Loan, your past debts should be clear.
  5. The business should be running well for the last 3 years if the applicant owns a business.

UCO Bank Fees and Other Charges

Category Details
UCO Bank Personal Loan Interest Rate 9.85% per annum
UCO Bank Personal Loan Processing Fee 1% of the loan amount
Min ₹ 1000 and Max ₹ 25000
Prepayment  No prepayment is allowed until 12 EMIs are paid
Pre-closure No foreclosure is allowed until 12 EMIs are paid
Prepayment Charges 13-24 months: 4% of loan principal outstanding
25-36 months: 3% of loan principal outstanding
>36 months: 2% of loan principal outstanding
Stamp Duty As per state laws
Cheque Bounce Charges ₹ 550/cheque +  GST
Floating Rate of Interest Not Applicable
Overdue EMI Interest 2% p.m.(on overdue amount)
Amortization Schedule Charges ₹ 200 + GST

UCO Bank Personal Loan Documents Required

Form Duly filled application form
Proof of Identity Copy of:
→ Passport
→ Driving License
→ Aadhar Card
→ Voter ID Card
Proof of Address Rent Agreement (Min. 1 year of stay)
Utility Bills
Passport (Proof of permanent residence)
Ration card
Proof of Income → ITR: Last two Assessment years
→ Salary Slip: Last 6 months
→ Bank Statement: Last 3 months

 

Personal Loan EMI Calculator for UCO Bank

EMI Calculator

UCO Bank Personal Loan Comparison with Other Banks

Bank Interest Rate Tenure Loan Amount & Proc Fee
UCO Bank 9.85% 12 to 60 months Up to Rs. 10 lakh / Up to 1% of the loan amount
HDFC Bank 11.25% to 21.50% 12 to 60 months Up to Rs. 40 lakh / Up to 2.50% of the loan amount
Bajaj Finserv Starting from 12.99% 12 to 60 months Up to Rs. 25 lakh / Up to 3.99% of the loan amount
Axis Bank 15.75% to 24% 12 to 60 months Rs. 50,000 to Rs. 15 lakh / Up to 2% of the loan amount
Citibank Starting from 10.99% 12 to 60 months Up to Rs. 30 lakh / Up to 3% of the loan amount
ICICI Bank 11.50% to 19.25% 12 to 60 months Up to Rs. 20 lakh / Up to 2.25% of the loan amount

Other Loan Products from UCO Bank

Why Dialabank for UCO Bank Personal Loan?

Dialabank helps you choose the option of banks by providing you with the updated market comparison of different banks to make the right choice. We at Dialabank have already helped thousands of people to get the loan they need without any issue, and we look forward to continuing in doing so. Apply with us today to get the offers and special deals on UCO Bank Personal Loan.

Call us at 9878981166 to avail of the UCO Bank Personal Loan.

How to Calculate EMIs for UCO Bank Personal Loan

You can easily calculate your EMIs on your UCO personal loan using;

  1. Amount of the Loan
  2. Rate of Interest
  3. Tenure

You just need to input these values in the calculator below to find the exact amount payable each month.

EMI Calculator

UCO Bank Personal Loan Processing Time

UCO Bank usually takes 1-2 weeks when it comes to the Processing of Personal Loan Applications. However, UCO Bank approves the loan in just a few hours to a maximum of 1-3 days to its preapproved already existing account holders.

UCO Bank Personal Loan Preclosure Charges

UCO Bank lets you foreclose your personal loan with 2% to 4% foreclosure charges. You can pay back your loan amount after 12 EMIs.

Documents Required for Preclosure of Personal Loan 

Generally, the following documents are required to foreclose your UCO Bank personal loan:

  • A valid photo identity proof
  • Loan Account Statement
  • Cheque/ demand draft/ cash to make the payment

UCO Personal Loan Foreclosure Benefits 

Given below are a few key benefits of foreclosing your UCO Bank personal loan:

Foreclosure / Full Prepayment

  • Helps you save on the overall interest payout.
  • Frees you from the burden of regular loan repayments.

Partial Prepayment

  • It enables you to save on the interest component.
  • You also have the advantage of either paying a reduced EMI amount or having a shorter loan tenure.

UCO Bank Prepayment Facility

UCO also offers the prepayment facility to help the customers pay off the entire outstanding or a part of it. If you have a surplus amount of money in hand and meeting the below criteria then you can pay a part of your principal outstanding amount to reduce the same. This will also help in saving interest accrued on the principal amount. Know more about this facility below.

  • Prepayment will be allowed subject to the successful payment of the first 12 EMIs
  • Prepayment will be allowed a maximum of twice during the entire tenure of the loan
  • Prepayment is allowed only once a year
  • At any point in time, the prepayment will not exceed 25% of Principal Outstanding

Charges to be paid on Prepayment

  • 13-24 Months – 4% of the outstanding loan balance
  • 25-36 Months – 3% of the outstanding loan balance
  • More than 36 Months – 2% of the outstanding loan balance

Pre Calculated EMI for UCO Bank Personal Loan

Loan principal @ interest Tenure
1 year 2 years 3 years 4 years 5 years
1 lakh @ 9.25% Rs. 8,766 Rs. 4,589 Rs. 3,201 Rs. 2,501 Rs. 2,098
5 lakh @ 10.95% Rs. 44,179 Rs. 23,292 Rs. 16,358 Rs. 12,911 Rs. 10,859
10 lakh @ 11.5% Rs. 88,545 Rs. 47,771 Rs. 32,905 Rs. 26,016 Rs. 21,917
15 lakh @ 15% Rs. 1.35 lakh Rs. 72,730 Rs. 51,998 Rs. 41,746 Rs.35,685

UCO Bank Personal Loan for Salaried Employees

UCO Bank offers Personal Loan for Salaried Employees at attractive rates of interest. The amount that you get a loan depends on the Company that you work for, The take-home salary of the employee, and the city of residence of the employee. UCO Bank offers these loans for a tenure of 12-60 months and provides instant approval along with funds to pre-approved customers.

UCO Bank Personal Loan for Self Employed Individuals

UCO Bank’s  Personal Loan for Self Employees is a loan product offered to self-employed individuals and in need of funds. The bank provides them with attractive rates of interest on their personal loan and tenure of 12-60 months. However, as compared to Salaried Employees, you have to present more documents here as you need to provide the bank with sufficient documents related to your business to prove its continuity as well as your steady income.

UCO Bank Personal Loan for TCS Employees

  • Exclusive personal loans with a reasonable interest rate of 11.25% p.a.
  • EMI for personal loans starts at Rs.2178 per lakh when terms and conditions are met.
  • The hassle-free documentation process for TCS employees.
  • Pre-approved personal loans for eligible TCS employees.
  • Personal Loan Interest rate starting at 11.99% p.a for superbike loans.
  • Great offers on home loans with an interest rate of 9.45% p.a and discount interest rate for women at Rs.9.40% p.a.

UCO Bank Moratorium Process

The processes to stop your loan EMIs at UCO Bank are as follows-

  • Visit the UCO Bank website or use their mobile app.
  • Click on the link where the option of moratorium period is popping up.
  • On the application page, mention your registered mobile number, name, and email ID.
  • After that enter your DOB and select the loan type.
  • Enter your loan number and also mention your EMI amount
  • After that make a decision and choose a suitable service to avail.
  • Click on the EMI deferment option that says I agree to pay the accrued interest on the remaining balance
  • Click on the ‘Submit’ button.
  • The bank will check the details thoroughly and process your moratorium request
  • You’ll be given a reference upon the successful completion of the process on your registered mobile number and email ID

However, if you don’t wish to defer EMI, you should click on the second option after the deferment option. This makes sure that EMI payments are scheduled with no extra interest charged on them.

UCO Bank representatives can also get in touch with you via WhatsApp or call regarding the moratorium process.

UCO Bank Personal Loan Special Pricing 

If a customer is looking for INR 15 lakh of the loan amount or more than that below rates would be applicable.

Loan Amount IRR Processing Fee (+GST)
Loan amount >=15 lakh* 10.50% INR 3999

*Terms & conditions apply

This offer is not applicable for Top-up/ Enhancement/ Existing loan amount closure.

If a customer is looking for a Balance transfer and a fresh loan of above INR 10 lakh above, the below offer is available.

NTH Loan Amount IRR Processing Fee (+GST)
>=50000 Loan amount >=10 lakh* 10.50% INR 3999

*Terms & conditions apply

  • Not applicable on Existing loan closure
  • Not applicable for Credit card BT

How to Manage Personal Loan

Here are the 4 tips that will help you manage your loans:

1. Pay On-Time – The first step is to avoid late fees and penalties. The best way to do that is by paying your monthly payments on time every month. This also hits the credit score. These are needless and all too common consequences that will work against your financial condition. If you have just taken a personal loan or are about to, the best way to manage your loan is by making a monthly payment on your loan as soon as you receive the loan. By being a payment ahead of your instalment plan you will have a buffer against a missed payment.

2. Pay More Than Your Minimum –  Paying beforehand is a good option for managing your plans but paying a little extra every month keeps you ahead of your loan term and provides you with some other financial bonuses. Moreover, paying extra on your loan reduces the length of the repayment plan. This will help you clear the debt and allows you to regain your financial independence sooner. It will also reduce the rate of interest you owe and thus, saving you money in the long run. Paying off your debts faster also leads to an improvement in your credit score. A lower credit score will benefit you in several ways, like dropping down payments and rate of interest.

3. Consolidate Your Loans – For debtors managing multiple personal loans, consolidation could be the best way to simplify your debt repayment. Debt Consolidation is when you take a large loan to repay all the other loans you have taken. So, instead of paying multiple lenders every month with different rates of interests and needs, one can make a single payment to one provider. Debt Consolidation is helpful if you can save an interest rate on a new loan that is lower than the average interest rate of the earlier loans. The only disadvantage that lies here is that one will likely end up having to reimburse the debt quicker than before. Before consolidating your debt, make sure that you can make the payments on a new loan. This may also help to reimburse large portions of your loans on credit rather than with a single loan, consolidating it into more controllable pieces.

4. Credit Score – Last but not least, always keep a close watch on your credit score while reimbursing a personal loan. The credit score plays a major role in finances and has an important relationship with the loans taken out. How you manage your loans is reflected in your credit score. On the other hand, falling behind on your payments will subordinate the credit score. Thus, a higher credit score is important.

Different Offers for UCO Bank Personal Loan

UCO Bank Doctor Loan

Doctors and medical professionals can apply for a personal loan from UCO Bank and enjoy a range of offers and deals curated to their personal and professional needs.

UCO Bank Marriage Loan

Marriages are one of the costliest events in Indian households. UCO Bank has personal loan offers with a low-interest rate and high loan quantum to meet your wedding expenses.

UCO Bank Personal Loan for Government Employees

Government employees can apply for a UCO Bank personal loan to meet their financial expenses. The bank has personal loan offers to meet your different monetary needs.

UCO Bank Personal Loan Offers for Government Employees

Offers By Government Number of Companies Processing Fee(% of the Loan Amount IRR
Miniratna, Navratna, and Maharasthra 55 1.50% 13.49%
11.49%
10.99%
Pensioner All 1.50% 14.75%
Employees from the Railway Department All 1.50% 16.50%
15.00%
14.25%
CISF, CRPF, ITBP, SSB and BSF All 1.50% 14.75%

State and Central Government Officers:

Section Salary Processing charge IRR
Government Officer Division A (GA) and Division B (GB) NTH>24k 2% 16.75%
NTH>35k 2% 15%
NTH>50k 1.75% 14.75%

UCO Bank Personal Loan for Pensioners

Government employees can fulfil their post-retirement financial needs by applying for a personal loan with UCO Bank. The bank has special offers for all the pensioners with their pension account with the bank.

UCO Bank Personal Loan Balance Transfer

Personal Loan Balance Transfer is the process of transferring your existing personal loan with another bank to a new lender for lower rates of interest and better loan terms. You can apply for UCO Bank’s personal loan balance transfer to lower your financial burden.

UCO Bank Personal Loan Top Up

UCO Bank’s personal loan top-up is a facility through which you can avail of additional funds under the same existing personal loan without applying for a fresh loan. Dialabank helps you choose the best personal loan offers available for you.

UCO Bank Personal Loan Overdraft Scheme

UCO Bank Personal Loan Offers an Overdraft Scheme. With this, you are provided a loan amount as an overdraft facility. It works like a Credit Card, where you can spend your Personal Loan Amount as you want anytime anywhere. The overall loan amount will have a Credit/Loan Limit. In the UCO Personal Loan Overdraft facility, the bank charges interest only on the amount you withdraw/utilize.

UCO Bank Home Renovation Loan

UCO Bank offers home improvement loans for people who wish to have their homes renovated. This personal loan would fund essential repairs or help the borrower bring new fittings, fixtures, and furniture into their home. Some of the key features of the UCO Bank Home Renovation Loan are:

  • The interest rate of UCO Bank’ Home Renovation Loan starts at as low as 11.25%
  • To renovate their house, individuals can qualify for a loan amount of up to Rs. 20 Lakh.
  • The home renovation loan from UCO Bank includes minimum paperwork that renders the entire loan process hassle-free
  • Usually, the loan amount is credited to the account within 72 hours after the bank approves your application.

UCO Bank Holiday Loan

UCO Bank Holiday Loan will assist you to prepare your dream vacation with minimal hassle. This personal loan from UCO Bank will facilitate a range of vacation expenses, including booking a flight ticket, lodging in a hotel, guided tours, etc. The principal features of UCO Bank’ Holiday Loan are:

  • The interest rates on holiday loans start at 11.25% p.a.
  • An amount of up to Rs 20 Lakh can be used conveniently so that a financial crisis will not ruin your dream holiday.
  • Simplified and Minimal paperwork helps fund your holiday easily and conveniently.
  • Quick processing and disbursement of credit, which is credited to your account directly.

UCO Bank Fresher Funding

Most unsecured personal loans are targeted at individuals with a regular income, but UCO Bank’s Fresher Funding is different. This loan choice from UCO Bank is designed to support newcomers, i.e. recent graduates who are seeking their first job. Some main features of the personal loan from UCO Bank Fresher Funding include the following:

  • Sum of up to Rs 1.5 lakh loans
  • The candidate is expected to be at least 21 years of age.
  • The interest rate for Fresher Funding depends on the profile of the loan borrower, the credit history/score of the applicant, age, and location.

UCO Bank NRI Personal Loan

UCO Bank provides NRIs solely with a personal loan, recognizing the hopes and desires of NRIs. The primary loan candidate must be an Indian citizen and the co-applicant NRI must be a close relative. The following characteristics include NRIs Personal Loan

  • UCO Bank offers NRIs up to Rs. 10 lakh in private loans with flexible end-use
  • The interest rates for NRI Personal Loans start at 15.49% p.a.
  • For a term of up to 36 months, the loan is.

UCO Bank Personal Loan Preclosure Online

UCO Bank enables a Personal loan borrower to make a pre-closure or a pre-payment of a loan. However, you will be able to prepay your UCO Personal Loan only after 12 months after you have procured your loan and after paying 12 EMIs plus the foreclosure charges that may be applicable. If you meet this requirement, you can repay your personal loan before the original due date and close your loan early.

UCO Bank Personal Loan Process Steps

Step 1: Determine your requirement
Figure out why you need a Personal Loan and how much you need. For example, you may need a loan to fund your wedding or to renovate your home. And you may need just Rs. 1 lac or Rs. 10 lac.

Step 2: Check loan eligibility
Once you know how much you need, you should check whether you are eligible. You can visit the UCO Bank Personal Loan Eligibility Criteria online, to find out how much you can borrow as a Personal Loan. UCO Bank offers loans up to Rs. 40 lac.

Step 3: Calculate monthly instalments 
Use an online EMI tool to calculate your approximate loan repayments every month. You can modify the interest rate and tenure to match your monthly income, like on the UCO Bank Personal Loan EMI Calculator. UCO Bank offers pocket-friendly EMIs on all its Personal Loans starting at Rs. 2149 per lac * (T&C).

Step 4: Approach the bank 
You can apply for a Personal Loan with UCO Bank in various ways: Via Net Banking, online on the UCO Bank website, at an ATM, or by visiting a branch.

Step 5: Submit documents 
Next, find out what documents are required for a Personal Loan. You will usually need income proof (bank statements, salary slips or IT returns), address proof, and ID proof. Hand over copies of your Personal Loan documents at the bank.

Wait for funds to be remitted to your account. UCO Bank disburses funds for pre-approved loans to customers in 10 seconds*, and for non-UCO Bank customers in 4 hours.

That’s how to get a Personal Loan in 5 easy steps!

UCO Bank Personal Loan Prepayment Charges 

If you are a salaried applicant, you can pre-pay your UCO Personal Loan only after paying 12 equated monthly installments completely.

The pre-payment charges for salaried applicants are as follows:

  • 4% of the outstanding principal amount for 13 to 24 months.
  • 5% of the outstanding principal amount for 25 to 36 months.
  • 2% of the outstanding principal amount for more than 36 months.

How to Apply Online for UCO Bank Personal Loan?

It is simple to apply for a personal loan; all you need to do is follow some steps and you will get a suitable loan in no time. To apply for UCO Bank Personal Loan, you have to visit our webpage and fill the needed form to be a part of the process. Follow the steps given below in a sequence to avail of a personal loan:

UCO Bank Personal loan

  1. Go to the Dialabank website.
  2. Go to the personal loan section.
  3. In the personal loan section, you can apply either as a self-employed individual or a salaried individual.
  4. Once, you fill in all the important details about yourself, submit the form.
  5. After form submission, you will have to wait for our representative to call you.
  6. Eventually, our representative will guide you through the process of the loan.
  7. You get a loan at an affordable interest rate without moving here and there.

Personal Loan Verification Process

  • Upon submission of the completed online application by Dialabank, the representative of UCO Bank will send you a verification call to schedule the collection of relevant loan documents.
  • After you have provided all the documentation needed, such as KYC, proof of income, etc the lender verifies them.
  • After validation, with confirmation of the final loan amount, interest rate, and tenure of your personal loan, you will receive another call from the bank.
  • Once the bank receives confirmation from you that the terms of the loan are appropriate, the balance of the loan is disbursed.

Check Your UCO Bank Personal Loan Application Status

There is currently no online portal for checking the status of your UCO Bank personal loan application. Hence, you can use the following ways to perform the task:

  • UCO Bank’s e-Banking service
  • Contacting UCO Bank Customer Care on the helpline number 1800 274 0123.
  • An in-person visit to a nearby UCO Bank branch.

How to Login to UCO Bank Portal

  • Visit the portal of UCO Bank e-Banking
  • Fill in the details needed, and then press ‘Login’
  • You can review your current loan information once you are signed in, apply for a new loan, check your personal loan eligibility for a new loan, etc.

How to check UCO Bank Personal Loan Statement?

By following the steps given below, clients can download the bank’s personal loan statement:

  • Go to UCO bank’s official website.
  • From the drop-down list, pick ‘Service Requests’.
  • Select ‘Personal Loan Related on the corresponding page that opens, under the ‘Loans’ menu.
  • Then, click on ‘Request for Loan Account Statement’.
  • Use your user ID and password to log in, or use your registered mobile number and OTP to use the personal loan statement of the bank.

UCO Bank Personal Loan Restructuring (COVID-19)

To alleviate the impact of the COVID-19 pandemic to a certain degree, a 6-month moratorium on different term loans was announced. Upon completion of the 6-month moratorium, UCO Bank announced the RBI-mandated one-time benefit from UCO Bank’s personal loan restructuring. This mechanism is intended to provide continuing relief to those borrowers who, due to the continuing financial distress of the pandemic, are still unable to begin repayment of their daily EMI.

The loan settlement mechanism implemented by UCO Bank includes an additional moratorium of up to 2 years or an extension to the existing repayment period to decrease monthly EMI payments. It should be recalled, of course, that the restructuring of your personal loan to UCO Bank will result in additional interest rates above those applicable to the original loan. Thus this relief tool can be used only as a last resort.

UCO Bank Customer Care

  • You can dial on helpline number 1800 274 0123 anytime.
  • Callback Request: You can likewise demand a get back to by visiting the bank’s site
  • You can reach UCO Bank online on their website.

Benefits of Applying for Personal Loan at Dialabank

Based on interest rates, lenders, loan tenure, and others, Dialabank provides easy access and uses the platform to compare personal loan offers. Some main advantages of applying for a personal loan on Dialabank.com are the following:

  • Easy Accessibility: It is easy to apply for Dialabank personal loans from the comfort of your home or office.
  • Quick Processing: Fast processing and swift reporting help to use personal loans with minimal hassle.
  • 24 X 7 Support: The dedicated customer service team provides end-to-end support for smooth online application processing
  • Know EMI in a flash: With the individual credit EMI Calculator on DialaBank.com you can check the EMIs you would be paying on a personal advance even before you apply for one. It will assist you with acquiring the reasonable sum that you can without much of a stretch reimburse and have a helpful reimbursement plan. 
  • Hassle-free process: No need to visit the bank branch to request a personal loan that saves time and effort

How to Get the Best Offer on UCO Bank Personal Loan

You can get the best close to home financing costs from UCO Bank subject to an evaluation of your credit sum, pay, other commitment organization you work with, and advance residency. The accompanying elements decide the individual credit pace of interest you can hope to get from UCO:

  • Credit Amount – This is the sum acquired by a borrower from the bank. By and large, banks offer lower financing costs for higher sums. UCO Bank offers credits between ₹ 50,000 and ₹ 30 Lacs.
  • Compensation – Income characterizes your ability to reimburse the credit. More significant compensation section people are offered credits at lower financing costs. The loan cost of the bank fluctuates with your net month to month pay.
  • Manager Category – UCO Bank has an inner rundown of organizations falling into classifications that are positioned from high to low organization classes dependent on the organization’s size, notoriety, and existing relationship with the bank. Representatives who have a place with organizations in higher organization classes get appealing limits and low financing cost advances.
  • Relationship with the Bank – UCO Bank offers extraordinary rates, offers, and charges to the current record holders of the bank. The individuals who have dealt with their records and made all the instalments on time in the past will get the advantage of a low UCO Bank advance loan cost.
  • Credit Tenure – Personal advances are of more limited residency that goes from a year to 60 months as they are taken to meet their quick prerequisites.
  • Reimbursement Capacity – Before giving an advance to the borrower, UCO Bank checks the reimbursement limit of the borrower. Bank confirms the reimbursement limit of the client through CIBIL as it has the reimbursement history of past credits taken. CIBIL additionally catches data of charge card charges instalment.

How does UCO Bank Personal Loan work, Here is the process

Maximum Annual Percentage Rate (APR) 11% to 22.5%
A representative example of the total cost of the loan, including all applicable fees Here is an illustration of the total cost of the loan:
Total amount borrowed: ₹ 1,00,000
Time period: 12 Months to 60 Months
UCO Bank Personal Loan Interest Rate: 10.50% to 22.00%
Processing Fee payable to Upto ₹ 2,500
Fee payable to MyLoanCare: NIL
Total Monthly Cost – From ₹ 2,149 for 60 Months ₹ 1,00,000 loan at 10.50% (lowest rate, longest time period) to ₹ 9,359 for 12 Months ₹ 1,00,000 loan at 22.00% (highest rate, shortest time period). This is inclusive of principal repayment.
Annual Percentage Rate (APR) of charge including all applicable fees: 11% to 22.5%
Total cost payable over loan tenure: ₹ 8,278 for 12 Months loan to ₹ 31,463 for 60 Months loan

Important Aspects

Some of the significant factors that need to be addressed when applying for personal loans are as follows:

  • Before applying for a loan, make sure that you review your credit score. For a successful personal loan application, normally 750 and above is considered an ideal credit score
  • Read the terms and conditions and the charges associated with your personal loan.
  • Compare personal loans with different lenders through various options such as loan principal, interest rate, loan tenure, and others.
  • Before applying for personal credit, always review your monthly EMI and select the tenure wisely. If your EMI is too high, your chance of default increases, while too small an EMI increases your overall interest payout.

FAQs About UCO Bank Personal Loan

 What is UCO Bank Personal Loan?

UCO Bank Personal Loan is a credit scheme that you can avail to fulfil all your desires and needs. You are not required to submit any security in exchange for the Loan and a loan tenure of up to 60 months makes the repayment easy and burden-free.

How does UCO Bank Personal Loan work?

UCO Bank’s Personal Loan is an unsecured loan that one can avail of by submitting their basic KYC documents and Income-proof with the UCO bank. After the verification of your documents, the UCO bank will give you the money to your indicated bank account. You can use this money for any of your expenses.

What is the Personal Loan rate of interest in UCO Bank?

The interest rate for a Personal Loan is 9.99% per annum in UCO Bank. The interest rate depends on the borrower’s credentials.

How can I get UCO Bank Personal Loan?

Just visit the UCO Bank branch with your documents and apply for a personal loan with your banker. You can also achieve a Personal Loan by using online with Dialabank to avail of secure processing and personalized assistance.

How to apply for a Personal Loan in UCO Bank?

One can avail of a personal loan with UCO Bank by merely visiting your branch with the essential documents. You don’t need any collateral in exchange for the loan, and the loan amount can be used to meet any personal need.

Why apply for UCO Bank Personal Loan?

UCO Bank Personal Loan is unsecured; that is, you won’t need to provide any security to avail this Loan. Also, the rates of interest are competitive and long tenure makes repayment easy. The fund disbursed in a Personal Loan can be used for a big or small expense that you may have. To get more details about the benefits of a Personal Loan, visit Dialabank’s online platform or contact our financial helpline number.

How much EMI on UCO Bank Personal Loan?

You can calculate your EMI of UCO Bank Personal Loan using the values of your loan tenure, amount of Loan, and rate of interest. Utilize Dialabank’s EMI calculator to calculate your estimated EMI and apply for all your Personal Loan needs.

How much CIBIL score required for UCO Bank Personal Loan?

UCO Bank asks for a CIBIL score above 700 for availing of a Personal Loan. Being an unsecured loan, your CIBIL rating plays a significant role in determining your eligibility for the Loan as it estimates the risk of default for your lender.

Minimum credit score needed for UCO Bank Personal Loan?

UCO Bank asks you to have a credit score above 700.

How to calculate UCO Bank Personal Loan EMI?

Use your amount of Loan, loan-tenure, and rate-of-interest to calculate your Personal Loan EMI using the EMI calculator available on Dialabank’s website.

What can I use UCO Bank Personal Loan for?

You can utilize your UCO Bank Personal Loan for several monetary needs such as funding your wedding or that of any relative, pay your bills, renovate and repair your home, support your vacation or any other expense, etc.

Can I pre-pay UCO Bank Personal Loan?

When you feel the need to close your Loan and have the needed funds, just visit your loan branch and apply for a foreclosure. You may be required to pay a prepayment fee.

How to pre-pay UCO Bank Personal Loan?

Visit your loan lending branch with all your loan documents and apply for a pre-closure of your Loan. After payment of your outstanding loan amount and any other charges as shall be applicable, your UCO Bank loan will be closed.

How to repay UCO Bank Personal Loan?

You can pay your loan in easy EMIs that are automatically deducted from your indicated bank account every month. UCO Bank’s Loan can be paid back through post-dated cheques also.

What documents are needed for UCO Bank Personal Loan?

AADHAR-Card, VOTER-ID, PAN-Card, Salary-Slips, Bank Account Statement, and ITR are the documents that you require for your UCO Bank Personal Loan.

How to check UCO Bank Personal Loan status?

Just visit your loan bank branch or contact the customer service number of UCO Bank to know the status of your loan application and stay updated. There is currently no online portal for checking the status of your UCO Bank loan application. Hence you can use the following ways to perform the task:

  • UCO e-Banking service
  • Contacting UCO Bank Customer Care
  • An in-person visit to a nearby UCO Bank branch.

How to get UCO Bank’s loan top-up?

Top up is the additional loan amount that can be taken from the existing bank of your recent loan or at the time of balance transfer from your new bank. UCO Bank lets you avail of this facility if you have paid at least about 9 EMIs without any cheque bounces. You can get a minimum top-up of ₹ 50,000 and a maximum of your already sanctioned loan amount. You can check the online portal of UCO Bank for more offers or contact Dialabank for any financial help.

✅ What happens if I don’t pay my UCO Bank’s Personal Loan EMIs?

There will be a penal interest charged as applicable and would even face legal actions if defaulting continues.

✅ How to find UCO Bank’s Personal Loan account number?

To get your loan account number you can contact the loan officer at the bank branch or by contacting the customer care number of UCO Bank.

✅ What is the UCO Bank Personal Loan closure procedure?

  • Just go to the bank with the documents.
  • Write a letter for pre-closure of the UCO Bank Personal loan account.
  • Pay the pre-closure charges as per UCO Bank Personal Loan.

✅ What are UCO Bank Personal Loan preclosure charges?

UCO Bank Personal Loan preclosure charges are Nil.

✅ What is the UCO Bank Personal Loan overdraft scheme?

For simplifying the process and providing you with a hassle-free service while processing an overdraft scheme at UCO Bank Personal Loan is provided, it gives you an online way to get your own overdraft, also known as Smartdraft – Overdraft Against Salary. You do not need to visit bank branches and go through a boring process. Just log in to the UCO Bank online banking portal and from there you can fill out a simple form and get an overdraft under your name.

✅ What is UCO Bank Personal Loan maximum tenure?

UCO Bank Personal loan maximum tenure is 60 months.

✅ What is UCO Bank Personal Loan minimum tenure?

UCO Bank Personal Loan minimum tenure is 12 months.

✅ What is the UCO Bank Personal Loan customer care number?

The customers get in touch with the bank via call on 1800 274 0123.

UCO Bank Personal Loan News

Good news for UCO Bank customers! Interest rates on loans reduced.

The move comes two days after the RBI kept its key interest rates paused in its bi-monthly monetary policy. The central bank announcing the outcome of its bi-monthly Monetary Policy rates on February 5 said that it has decided to keep the repo rate unchanged at 4 percent and the reverse repo rate at 3.35 percent.

UCO Bank announces latest MCLR rates 

The latest MCLR rates of UCO Bank as announced on 10 Feb 2021 are: Overnight MCLR Rate is 6.70%. This rate was last revised on 10 Oct 2020 to 6.70% from 6.75% 1 Month MCLR Rate is 6.85%.

Other Banks For Personal Loan

Karnataka Vikas Grameena Bank Personal Loan
Jharkhand Gramin Bank Personal Loan
Kashi Gomti Samyut Gramin Bank Personal Loan
Jana Small Finance Bank Personal Loan

Table of Contents