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