UCO Bank Home Loan
With interest rates starting at 7.90% p.a.(for pre-approved home loans) UCO Bank offers house loans with two different interest rate structures (MCLR and RLLR).
The processing cost is 0.5% of the loan amount, which ranges from Rs.1500 to Rs.15,000, with a maximum loan tenure of 30 years and a maximum age of 70 years at the time of loan fulfilment.
UCO Bank Home Loan Details
UCO Bank offers home loans linked to both Marginal Cost of Funds-based Lending Rate (MCLR) and Repo-Linked Lending Rate (RLLR). UCO Bank also offers different types of insurance covers on home loans.
MCLR | 8.15% p.a. onwards |
RLLR | 8.30% |
Loan Amount | No upper limit |
Processing Fees | 0.5% of loan amount |
Penal Interest Rate | Contact the bank |
Max Tenure | 30 years |
Rate Packages Available | Floating rate packages |
UCO Bank Home Loan Interest Rates
The interest rates offered by UCO Bank on various home loan programmes are listed below. The interest rate you're offered is determined by the bank's classification of your creditworthiness and the quantity of your home loan.
UCO Bank Home Loan Schemes | Interest Rates |
UCO Pre-approved Home Loan | Contact the bank |
UCO Home | 7.90% p.a, to 9.50% p.a. |
UCO Top-Up Home Loan | 8.90% p.a, to 11.10% p.a. |
Compare: Home Loan Interest Rate all Banks
UCO Bank Home Loan Eligibility Criteria
Age | 21 years and up to 75 years (inclusive of repayment period) |
Nationality | Resident, Non-Resident Indians and Person of Indian Origin (PIO) |
Type of Employment | Salaried and self-employed professionals |
UCO Bank Home Loan Schemes
Here are two of the home loan schemes offered by UCO Bank and their details:
- UCO Home
- Renovation, repair, or extension of flat or existing house of not more than 50 years
- Construction and purchase of independent residential house or ready built flat
- Home loan taken over from other financial institutions or banks
- For furnishing house property
- Purchase of house or flat (up to 40 years old)
Interest Rate | Processing Fee |
Contact the bank | 0.5% of loan amount Minimum- Rs.1500 Maximum- Rs.15,000 |
- UCO Pre-Approved Home Loan
- Loans for applicants by providing In-principle sanction of home loan based on eligibility/entitlement as per Income Criteria
- Processing fee of 0.25%
- Pre-approved sanction letter comes with a 4-month validity
- Up to 90% of financing
Interest Rate | Processing Fee |
Contact the Bank | 0.25% of loan amount |
UCO Top-Up Home Loan
Providing funding to existing borrowers to fulfill their other financial obligations such as children’s education, house furnishing, renovation, or repair, agricultural and business needs.
Interest Rate | Processing Fee |
8.90% p.a, to 11.10% p.a. | 0.10% of loan amount Maximum: Rs.10,000 |
UCO Bank Home Loan EMI Calculator
Use the home loan EMI calculator to get an estimate of how much your UCO Bank home loan EMI will be. Get to know not only the total interest payable but also the total repayment amount throughout your chosen loan tenure.
All you have to do is enter your desired home loan amount, the interest rate, processing fee, and desired repayment tenure into the calculator. It will instantly generate the interest amount payable and total repayment amount.
FAQs on UCO Bank Home Loan
- Does any security have to be furnished to avail the loan?
Yes, the security required is the equitable mortgage of the property being financed.
- Should EMI be paid during the moratorium?
No, interest is serviced only on a monthly basis.
- What is the maximum amount of home loan that I can avail?
There is no upper limit for purchase or construction of a house or flat.
- How much loan amount can I avail for renovations, extensions, or repairs?
There is no upper limit for house extension in metro, urban, semi-urban or rural areas under UCO bank home loan scheme. Customers can avail themselves of up to Rs.15 lakh for repair or renovation under this scheme.
- How is loan eligibility determined?
Loan eligibility is determined on the basis of the repayment capacity and income of the borrower.
- Can the loan be repaid ahead of schedule?
Yes, the loan can be repaid ahead of schedule and can be done either as a full payment or a part payment.
- Which method is used by UCO Bank for calculating the interest rate?
UCO Bank calculates the interest rate based on the reducing method, which means that you don't pay interest on the instalments that have already been repaid.
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