Get Information on UCO Bank Housing Loan Interest Rate, Eligibility & EMI
UCO Bank Home Loan is a financial product offered by UCO Bank, a leading public sector bank in India, to assist individuals in fulfilling their dream of owning a home. The UCO Bank Home Loan is designed to meet the diverse needs of homebuyers, including the purchase of a new home, construction of a house, renovation or extension of an existing property, and more.
Continue reading to understand more about UCO Bank Home Loan interest rates and other essential UCO Bank Home Loan details.
Here are the current home loan interest rates of UCO Bank, along with other charges.
UCO Bank Home Loan |
|
Interest Rate |
8.35% p.a. onwards |
Loan Tenure |
Up to 30 years |
Loan-to-Value Ratio |
|
Processing Charges |
0.50% of the loan amount (Min. ₹1,500 and Max. ₹15,000) |
Prepayment Charges |
Nil |
Documentation Charges |
Nil |
Disclaimer: The mentioned rates and charges are subject to change at the lender’s discretion.
Here is a comparison of the UCO Bank Home Loan rates against partner lenders on Bajaj Markets.
Home Loan Providers |
Interest Rates |
---|---|
8.50% p.a. onwards |
|
9.50% p.a. onwards |
|
9.00% p.a. onwards |
|
10.50% p.a. onwards |
|
9.00% p.a. onwards |
|
8.65% p.a. onwards |
|
8.50% p.a. onwards |
|
11.50% p.a. onwards |
|
10.90% p.a. onwards |
Disclaimer: The mentioned rates are subject to change at the lender’s discretion.
If you are considering getting a home loan from UCO Bank, you can easily calculate your Equated Monthly Instalment (EMI) well in advance using the UCO Bank Home Loan EMI calculator online.
This convenient tool takes into account your loan amount, interest rate, and tenure and performs all the necessary calculations to provide instant results.
Simply enter the required information into the calculator and obtain an accurate estimate of your monthly EMI. Thanks to the UCO Bank Home Loan calculator, you can plan your finances better!
The UCO Bank Home Loan documents required are as follows:
Completed and signed application form with the latest photographs
Proof of identity, address, and age (Aadhaar card, PAN card, Passport, etc.)
Salary slips for the last 3 months
Bank statements for the past 6 months
Form-16 and Income Tax Returns (ITR) details
Title documents of the property
Completed and signed application form with the latest photographs
Proof of identity, address, and age
ITR and financial statements, including balance sheet, profit & loss account, and schedules (All documents must be certified by a Chartered Accountant)
Bank statements for the past 12 months
Latest partnership deed (partnership firms)
Latest Memorandum and Articles of Association
LLP Agreement (in the case of Limited Liability partnership firms)
Title document of the property along with business address proof
While knowing the home loan interest of UCO Bank is essential before applying for a UCO Bank Housing Loan, you must be aware of certain eligibility parameters.
Given below is a list of UCO Bank Home Loan eligibility criteria:
You must be at least 21 years of age
You must be a resident Indian, Non-Resident Indian (NRI), or Person of Indian Origin (PIO).
You must be employed as a salaried individual or a self-employed professional
UCO Bank offers home loans at competitive interest rates, making it an affordable borrowing option for purchasing a new home or constructing a house
UCO Bank provides flexibility in choosing the loan amount, depending on your eligibility and requirements. You can avail a loan amount that suits your budget and financial needs.
UCO Bank offers longer repayment tenures of up to 30 years, allowing you to repay the loan in EMIs that are comfortable for you without putting undue strain on your finances.
UCO Bank ensures a streamlined and quick loan processing procedure, making it convenient for you to get a home loan without unnecessary delays.
Furthermore, the UCO Bank Home Loan processing fee is nominal, reducing the overall cost of your loan.
Read MoreUCO Bank allows you to prepay or foreclose your home loan without any penalty, giving you the flexibility to repay your loan faster or close it before the original tenure if you have surplus funds.
Here are the different types of UCO Bank Home Loan schemes:
This is a normal home loan scheme that caters to the extension/repair/renovation of an existing house/flat up to 50 years old, the purchase/construction of a flat/house, and the purchase of a house/flat up to 40 years old.
It also allows for the transfer of existing home loans from other banks and housing finance companies (HFCs) at affordable UCO Bank Housing Loan interest rates.
Loan Amount:
a) For purchase/construction/takeover/extension: As per your eligibility.
b) For repair/renovation: Up to ₹50 Lakhs.
This scheme provides in-principal home loan sanctions based on your home loan eligibility, even before finalising the property. The pre-approved sanction has a maximum validity of 4 months.
Loan Amount:
a) For construction/takeover/ purchase/ extension: As per your eligibility.
b) For repair/renovation: Up to ₹50 Lakhs.
To get a UCO Bank Home Loan online, apply using the following steps mentioned below:
Visit the official UCO Bank Home Loan webpage
Click on ‘Apply now’
Click on the online application form link and fill in the required information, such as personal details, employment details, loan requirements, etc
Verify your identity with the OTP, and proceed to upload the necessary documents as per the bank's requirements, such as identity proof, address proof, income proof, property documents, etc
Review the information entered and upload documents carefully to ensure accuracy
Click on the 'Submit' or 'Apply' button to complete the online application process
Before you apply for a UCO Bank Home Loan, make sure to check the eligibility criteria and the rate of interest on a home loan in UCO Bank. This ensures hassle-free and quick loan approval.
If you have any queries related to UCO Bank Home Loan, their customer care services are readily available to assist you. You can easily get in touch with the bank by calling their customer care number at 1800 103 0123.
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Yes, UCO Bank generally checks the credit score and report of applicants through CIBIL as a part of their home loan approval process.
The maximum loan tenure for UCO Bank Home Loan is typically up to 30 years, depending on your age, repayment capacity, and other factors.
Yes, UCO Bank allows borrowers to transfer their existing home loan from another bank or Housing Finance Company (HFC) to UCO Bank through their Home Loan Balance Transfer facility.
Yes, UCO Bank allows joint applicants, including spouses, to combine their incomes and jointly apply for a home loan. This helps enhance loan eligibility and increase the chances of loan approval.
You can repay your UCO Bank home loan through Equated Monthly Instalments (EMIs).
The maximum limit of a UCO Bank Home Loan depends on various factors such as your income, repayment capacity, property value, and loan eligibility, as assessed by the bank.