✓ Home Loan from ₹2 Lakhs to ₹15 Crores ✓ Interest Rates Starting @ 8.50% Apply Now

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.

UCO Bank Home Loan Interest Rate & Charges 2024

Here are the current home loan interest rates of UCO Bank, along with other charges.

UCO Bank Home Loan 

Interest Rate

8.85%– 10.40% p.a.

Loan Tenure

Up to 30 years

Loan-to-Value Ratio

  • Up to 90% of the property value for a loan amount of ₹30 Lakhs

  • Up to 80% for a loan amount exceeding ₹30 Lakhs and less than ₹75 Lakhs

  • Up to 75% for an amount above ₹75 Lakhs

Processing Charges

0.50% of the loan amount (Min. ₹1,500 and Max. ₹15,000)

Prepayment Charges

Nil

Documentation Charges

Nil

Disclaimer: Above-mentioned rates and charges are subject to change at the lender’s discretion.

Compare UCO Bank Home Loan With Other Lenders

Here is a comparison of the UCO Bank Home Loan rates against partner lenders on Bajaj Markets.

Home Loan Providers

Interest Rates

Bajaj Housing Finance Limited

8.50% p.a. onwards

Home First Finance Company

9.50% p.a. onwards

ICICI Bank

9.00% p.a. onwards

India Shelter

10.50% p.a. onwards

Kotak Mahindra Bank

9.00% p.a. onwards 

LIC Housing Finance

8.65% p.a. onwards

PNB Housing Finance Limited

8.50% p.a. onwards

Shriram Housing Finance

11.50% p.a. onwards

Shubham Housing Finance

10.90% p.a. onwards

Union Bank of India

8.50% p.a. onwards

Disclaimer: Above-mentioned rates are subject to change at the lender’s discretion.

UCO Bank Home Loan EMI Calculator

Loan Amount
Tenure
  • Months
  • Years
Rate of Interest
%

Monthly EMI

at % interest rate for months

Total Amount Payable
Principal Amount
Total Interest Amount
Year Principal Interest Balance

If you are considering availing 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!

Documents Required for a UCO Bank Home Loan

The UCO Bank Home Loan documents required are as follows:

1. For salaried individuals

  • 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

2. For self-employed individuals

  • 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

UCO Bank Home Loan Eligibility

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

Features and Benefits of UCO Bank Home Loan

The features and benefits of a UCO Bank House Loan are as follows:

Competitive UCO Bank Housing Loan Interest Rates

 UCO Bank offers home loans at competitive interest rates, making it an affordable borrowing option for purchasing a new home or constructing a house

Flexible Loan Amount

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.

Longer Repayment Tenure

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.

Quick Loan Processing

<p>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.</p>

Flexible Prepayment and Foreclosure Options

UCO 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.

Types of Home Loan Schemes Offered by UCO Bank

Here are the different types of UCO Bank Home Loan schemes:

1. UCO Housing Loans:

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.

2. UCO Pre-Approved Home Loan:

This scheme provides in-principle 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 ₹15 Lakhs.

3. UCO Top-up Home Loan:

This scheme allows you to avail additional credit on an existing home loan to meet various financial requirements.

  • Loan Amount:

a) Term Loan: ₹1 Lakh to ₹200 Lakhs.

b) Overdraft: Up to ₹2 Lakhs or 10% of the original housing loan.

How to Apply for UCO Bank Housing Loan Online

To avail a UCO Bank Home Loan online, apply using the following steps mentioned below:

  • Step 1: Visit the official UCO Bank Home Loan webpage

  • Step 2: Click on ‘Apply now’ 

  • Step 3: Click on the online application form link and fill in the required information, such as personal details, employment details, loan requirements, etc

  • Step 4: 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

  • Step 5: Review the information entered and upload documents carefully to ensure accuracy

  • Step 6: 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.

UCO Bank Customer Care

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.

Disclaimer

The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort.

The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

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FAQs for UCO Bank Home Loan

Does UCO Bank check CIBIL for a home loan?

Yes, UCO Bank generally checks the credit score and report of applicants through CIBIL as a part of their home loan approval process.

What is the maximum loan tenure I can opt for under UCO Bank House Loan?

The maximum loan tenure for UCO Bank Home Loan is typically up to 30 years, depending on your age, repayment capacity, and other factors.

Can I transfer my house loan from another bank to UCO Bank?

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.

Can I club the income of my spouse with mine and apply for a UCO Bank Joint Home Loan?

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.

How do I repay my UCO Bank Home Loan?

You can repay your UCO Bank home loan through Equated Monthly Instalments (EMIs).

What is the maximum limit of a UCO Bank Home Loan?

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.

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