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UCO Bank Formerly United Commercial Bank, a bank established in 1943 in Kolkata, now a global commercial bank run by the Government of India, UCO Bank provides financial services to its customers with over 4000 branches and 2 representative offices abroad.
UCO Bank also provides various types of Home Loans to its customers, UCO Bank provides Home Loans with easy documents verification for all Home Loans with some processing fee, Check below details about UCO Bank Home Loan.
UCO Bank Home Loan
Buying a home is one of the most important financial decisions you and your family will make, and for many home buyers, getting a home loan is the only way to make their dream come true, It is very important to know the details of UCO Bank Housing Loan if you are considering taking a home loan, as the loan amount you are taking is very large and it will take many years to repay the amount.
UCO Bank housing Finance Scheme offers you an excellent opportunity to own your own house or flat, with carefully designed salaried or self-employed home loan schemes to suit your needs.
For UCO Bank Home Loan Eligibility Indian Individuals and NRI’s including Minimum Age 21 Years and Maximum Age 75 Years, Minimum CIBIL Score 700, Home Loan EMI Depends on Interest Rates Given Below, EMI can be calculated by using the EMI calculator on the UCO Bank website, once you determine your eligibility you can easily apply for a home loan
UCO Bank Home Loan Eligibility Criteria
Home loan is really a crucial and important financial decision in our lives, before you approach your bank to get UCO Bank home loan, try to get more information about your home loan eligibility, the applicant must be at least 21 years of age at the time of applying for home loan and the tenure of the loan. Should not exceed 70 years at the time of expiry.
NRIs and PIOs are also eligible for UCO Bank Housing Loan, applicant must be salaried, if self-employed they must be drawing regular salary, before applying for UCO Bank Home Loan 2024, if you meet the bank loan criteria, you are a home owner. Getting a loan will be easy, your eligibility for UCO Bank Home Loan below is min. Take a look and find out
| Eligibility Criteria | Salaried and Self-Employed |
| Income | Minimum salary should be Rs.25000 |
| Age | Minimum: 21 years Maximum: 60 years |
| Loan Tenure | Up to 30 years |
| Loan Amount | No limit, depending on the eligibility of the borrower |
| Processing Fees | 0.50% of the loan amount,up to 15,000 maximum |
| Prepayment Charges | Nil |
| Nationality | Indian |
Documents Required for UCO Bank Home Loan
Documents required for home loan from UCO Bank should be submitted hassle free, these documents are indicators of credit worthiness so any lender will definitely consider the documentation while approving the loan application.
UCO Bank Housing Loan Documents is one of the most important requirements for the applicant, the bank takes the home loan documents process very seriously, so applicants face difficulties in not knowing what documents to provide while submitting the documents for home loan.
UCO Bank makes the home loan documents process very streamlined and transparent right from the start, see below which home loan documents are required to pass your home loan application in detail
| Proof of Document | Salaried Professional | Self-employed |
| Proof of Identity | Voter ID card / Driving license / PAN card / Employee ID card / Defence or Police or Government Department ID Card | Voter ID card / Driving license / PAN card / Employee ID card / Defence or Police or Government Department ID Card |
| Proof of Residence | Latest Telephone Bill / Electricity Bill / Property Tax Receipt / Passport / Voter ID / Rental Agriment | Latest Telephone Bill / Electricity Bill / Property Tax Receipt / Passport / Voter ID / Rental Agreement |
| Age Proof | Passport Copy / PAN Card / Voter ID Card / Driving License / DOB Certificate / Employer Certificate / SSC Certificate | Passport Copy / PAN Card / Voter ID Card / Driving License / DOB Certificate / Employer Certificate / SSC Certificate |
| Signature Verification Proof | Driving License / Passport copy / PAN Card | Driving License / Passport copy / PAN Card |
| Income Proof | Form 16 for last 2 years, Latest Salary Slip, bank statements of last 3 years | Business profile, Last 3 years Profit / Loss and Balance Sheet & Last 3 years Income Tax returns (self and business) |
| Bank Statement | Last 6 months bank statements | Last 6 months bank statements (self and business) |
| Guarantor form | The optional factor may differ depending on the lender. | The optionality of this varies depending on the lender. |
CIBIL Score for UCO Bank Home Loan
When you apply for a home loan, UCO Bank usually checks your credit score before approving or rejecting the loan application, the bank checks your credit score whenever you apply for a home loan to ensure your creditworthiness.
A good credit score is a must while applying for a home loan from UCO Bank, CIBIL score is a 3 digit number ranging between 300 and 900. The closer the score is to 900 the better, you must have a CIBIL score of 750 or above to get a hassle-free home loan at low-interest rates from leading financial institutions
If your CIBIL score is more than 750 you have a very high chance of getting your loan application approved, but if it is less than 450 then your chances of getting your loan approval are also very low, mainly it all depends on your past credit behavior and repayment ability.
CIBIL Score For Government Employees
| CIBIL Score | Interest Rate (p.a.) |
| 800 & above (direct)(LTV up to 80% and LTV 80%-90%) | 8.45% |
| 800 & above (DSA)(LTV up to 80% and LTV 80%-90%) | 8.55% |
| 750-799 (LTV up to 80%)(LTV 80%-90%) | 8.65%8.75% |
| 700-749 (LTV up to 80%)(LTV 80%-90%) | 8.85%8.95% |
| 650-699 (LTV up to 80%)(LTV 80%-90%) | 9.45%9.55% |
| Up to 649 (LTV up to 80%)(LTV 80%-90%) | 10.20%10.30% |
CIBIL Score For Other than Government Employees
| CIBIL Score | Interest Rate (p.a.) |
| 800 & above (direct)(LTV up to 80% and LTV 80%-90%) | 8.55% |
| 800 & above (DSA)(LTV up to 80% and LTV 80%-90%) | 8.65% |
| 750-799 (LTV up to 80%)(LTV 80%-90%) | 8.75%8.85% |
| 700-749 (LTV up to 80%)(LTV 80%-90%) | 8.95%9.05% |
| 650-699 (LTV up to 80%)(LTV 80%-90%) | 9.45%9.55% |
| Up to 649 (LTV up to 80%)(LTV 80%-90%) | 10.20%10.30% |
CIBIL Score for Overdraft Home Loan
| CIBIL Score | Interest Rate (p.a.) |
| Above 750 | 9.80% |
| Up to 750 | 9.90% |
CIBIL Score for UCO Top-up Home Loan
| CIBIL Score | Interest Rate (p.a.) |
| Up to 750 | 10.30% |
| 700-749 | 10.50% |
| 650-699 | 11.00% |
| Up to 649 | 11.50% |
UCO Bank Home Loan EMI Calculator
If you’re considering a home loan from UCO Bank, you can use the UCO Bank Home Loan EMI Calculator to make an informed decision. This user-friendly tool provides you with essential information such as the total amount of your home loan, interest rates, and loan tenure, Click the link to access the calculator and get started.
UCO Bank Home Loan Processing Fee
When you apply for a home loan in UCO Bank, the bank charges a certain amount for the services they provide you, this amount is called Home Loan Processing Fee, these UCO Bank Home Loan Processing Charges are non-refundable,
UCO Bank Home Loan Processing Fee is a percentage of the total home loan amount you are applying for, if the application is rejected the amount will not be refunded to you.
Applicants should keep in mind that the UCO Bank Housing Loan Processing Fee is not the only amount you have to pay, so it is good for everyone to know the details of the UCO Bank Home Loan Processing Fee in advance so that you understand the costs involved before applying for a home loan.
UCO Bank Home Loan Processing Fee
| Interest Rate | Processing Fee |
| 8.85% p.a. to 10.40% p.a. | 0.5% of loan amount Minimum- Rs.1500 Maximum- Rs.15,000 |
UCO Pre-Approved Home Loan Processing Fee
| Interest Rate | Processing Fee |
| 8.75% p.a.to 9.75% p.a. | 0.25% of loan amount |
UCO Top-Up Home Loan Processing Fee
| Interest Rate | Processing Fee |
| 10.15% p.a. to 11.35% p.a. | 0.10% of loan amount Maximum: Rs.10,000 |
UCO Bank Home Loan Interest Rate
When applying for UCO Bank Home loan Interest Rate, it’s crucial to be aware of the interest rate, The interest rate will impact the total EMI you’ll have to pay depending on how much you borrow from the bank, It’s advisable to have knowledge about the interest rate before applying for UCO Bank Home Loan Rate, UCO Bank offers attractive interest rates on Home Loans ranging from 8.40% to 9.75%. You can find more information on home loan interest rates here.
| Type of Home Loan | Up to Rs 30 lakhs | Between Rs 30 Lakhs and Rs 75 Lakhs | Above Rs 75 Lakhs |
|---|---|---|---|
| UCO Home Loan | MCLR of 1 Year | MCLR of 1 Year + 0.10% | MCLR of 1 Year + 0.25% |
| UCO Pre-approved home loan | MCLR of 1 Year | MCLR of 1 Year + 0.10% | MCLR of 1 Year + 0.10% |
| UCO Top – Up Home loan | MCLR of 1 Year + 1.40% | MCLR of 1 Year + 1.40% | MCLR of 1 Year + 1.40% |
NOTE– UCO Bank Home Loan Interest Rate varies according to the bank’s discretion, the information given here is only the current interest rates given by the bank, when you want to apply for a loan in the bank, you should go to the bank’s official website https://www.ucobank.com/English/home-loans.aspx and confirm.