Thinking of a Personal Loan to pay off your debts?
Take a look at UCO Bank UCO Cash (Personal Loan)
UCO Bank Cash Loan (Personal Loan)
This loan helps borrowers to get funds to meet their personal needs such as expenses for a child’s wedding, domestic and foreign travel, medical emergency, etc. This loan scheme can also be repurposed into a consolidation loan to pay off their debts.
Features of UCO Cash (Personal Loan)
Why this Loan?
- The UCO Bank Cash (Personal Loan) is designed to help permanent/confirmed employees of Public Sector Undertakings, Central Government, State Government units, reputed national and multinational companies having salary account with UCO Bank get financial assistance to meet their personal needs
- The bank offers 0.25% concession in interest rate to women borrowers
- This is a collateral-free loan
Loan Amount
- The maximum loan amount offered under this loan scheme is up ten times the gross monthly income of the borrower or Rs. 10 lakh, whichever is less
Interest
- The interest rate applicable to this loan is defined as the sum of two factors: UCO Float Rate and a Spread factor of 3.40%. As of October 2020, the UCO Float Rate is 6.90% bringing the effective interest rate at 10.40%. The bank offers 0.25% concession in interest rate to women borrowers which means that the effective interest rate applicable to them is 10.05%
Repayment
- This loan must be repaid within 5 years
Eligibility
- Permanent/confirmed employees of Public Sector Undertakings, Central Government, State Government units, reputed national and multinational companies with at least two years of service
- The borrower should have their Salary account with UCO Bank
Security Needed
- This is an unsecured loan, meaning you don’t have to offer any collateral to get the loan
Processing Charges
- The bank charges 1.00% of the loan amount for processing this loan with a minimum of Rs. 750
Documents Needed
- Loan Application Form duly filled and signed by the applicant and co-applicant, if any
- Two Passport Size Photographs of applicant and co-applicant
- Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
- Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
- Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns
Reference Facts
- UCO Bank Website: www.ucobank.com and www.ucoebanking.com (net banking)
- Headquarters: Kolkata, West Bengal
- Call Centre Toll-Free Number: 1800 274 0123