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UCO Bank Home Loan Eligibility Calculator

UCO Bank Home Loan Eligibility in India 2021

Last Updated 08th Jun 2021

Eligibility CriteriaUCO Bank Home Loan
Eligible Age of Borrower21 - 60 years
  • UCO Bank home loan eligibility is dependent on factors like your age, income, property value and repayment capacity.
  • UCO Bank calculates the amount of home loan you are eligible for using a formula that includes your net take home salary, the EMIs you have to pay and the value of property.
  • You can increase your eligibility to get a housing loan from UCO Bank by adding earning family members as co-applicants or by applying for a longer tenure loan.
Home Loan Eligibility Calculator

UCO Bank Home Loan Eligibility

UCO Bank offers various home loan schemes and offers at affordable rates to eligible customers whether salaried or self-employed. UCO Bank housing loan eligibility is based on factors like age, salary, occupation, property type and credit score. Detailed information on these factors is mentioned in the further sections.

UCO Bank Home Loan Eligibility based on Age

  • Age: Your age plays an important role in determining your eligibility and repayment capacity for home loan. Lower your age, higher will be the time period available to repay the loan, and hence higher home loan amount eligibility. The minimum age limit to get UCO Bank home loan is 21 years at the time of loan commencement and maximum age limit is 60 years. UCO Bank offers home loans for a maximum period of 30 Years subject to the condition that the borrower’s age at the end of the tenure must not exceed 60 of tenure.

UCO Bank Home Loan Eligibility based on Salary

UCO Bank offers loan to self employed and businessmen for financing the expansion or working capital requirements of their business. There are some benefits of taking loan from UCO Bank:

  • Net income: Your net monthly income determines how much UCO Bank home loan EMI you are capable of paying after meeting all the living expenses based on your standard of living. For instance, if your salary is ₹ 25,000 then at interest rate of 6.75% offered by UCO Bank, the loan amount that you will be eligible for would be ₹ 28,11,571 to ₹ 49,34,709 depending on your age. Similarly, if your salary is ₹ 75,000, ou might get eligible for a loan amount of ₹ 56,23,141 to ₹ 98,69,418 for the same property at the same rate depending on your age at the time of loan application. However, UCO Bank asks for a net monthly income of ₹ 0 to avail a home loan.
Age Net Monthly Income (₹)
25,000 50,000 75,000
25 years49.35 Lakh74.02 Lakh98.69 Lakh
30 years49.35 Lakh74.02 Lakh98.69 Lakh
35 years46.40 Lakh69.60 Lakh92.80 Lakh
40 years42.25 Lakh63.37 Lakh84.49 Lakh
45 years36.38 Lakh54.58 Lakh72.77 Lakh
50 years28.12 Lakh42.17 Lakh56.23 Lakh

You may consider repaying any loans with short tenure and high EMI in order to increase your UCO Bank home loan eligibility.

  • Nature of employment: UCO Bank will check whether you are salaried or self-employed and the company and sector in which you are working. It also looks at your years of experience to check for job and income stability. UCO Bank requires minimum income history and job stability of more than 0 years for salaried individuals and of 0 years for self-employed individuals.

Home Loan Eligibility UCO Bank based on Value of Property

  • Value of property: UCO Bank does not finance the entire property value. The maximum home loan eligibility would depend upon the value of the property as shown below:
Property Value LTV
Less than 30 Lakh90%
Between 30 Lakh and 75 Lakh80%
Above 75 Lakh75%
  • Property documents: Your property’s legal documents should be satisfactory and be cleared by the UCO Bank's legal team.

The housing loan eligibility calculator of UCO Bank can be a useful tool to assess your eligibility for the loan.

Minimum CIBIL Score for UCO Bank Home Loan

  • CIBIL Score: UCO Bank considers credit score as a barometer to gauge your past credit behaviour and hence, CIBIL score becomes the most important factor to define your eligibility to get a home loan. Higher credit score increases your chances to get loan approval from UCO Bank However, low CIBIL score reduces your chances to get a home loan. UCO Bank requires a minimum credit score of 650 to be eligible for a home loan.

UCO Bank Housing Loan Eligibility Calculator based on FOIR

FOIR (Fixed Obligation to Income Ratio) is an important parameter used by UCO Bank to determine your home loan eligibility. UCO Bank considers all your fixed obligations like current EMIs into account while estimating your eligibility. Minimum FOIR required to be eligible for UCO Bank home loan is 0.65. Calculate your eligibility with UCO Bank home loan calculator and apply for eligible loan amount hassle free.

UCO Bank Home Loan for Women Eligibility

UCO Bank offers the same rates to women borrowers starting at 6.75% with similar eligibility criteria for home loan. In case of a joint home loan, the woman borrower also needs to be the co-owner of the property and should have a good credit history to get the joint home loan application passed for concessional rates.

How can I Check my UCO BankHome Loan Eligibility ?

To check UCO Bank home loan eligibility perform the following steps:-

  • Go to the UCO Bank website
  • Now navigate to the option UCO Bank home loan
  • To check eligibility criteria use a home loan eligibility calculator.
  • Fill the required details like loan amount required, salary, age etc.

Also you can contact the bank by calling on their customer care number .

Other Loan Calculators

FAQs

What is the criteria to get UCO Bank home loan?

The basic criteria to get a home loan from UCO Bank are as following:

Age21 - 60 years
Income ₹ 0
Income3 years for salaried, 5 years for self-employed
Credit score650 and above

How much home loan can I get on my salary from UCO Bank?

The amount for which you are eligible is calculated based on the FOIR and LTV. The higher your income, and the least is your fixed obligations (mostly ongoing EMIs), the higher will be your eligibility for a home loan.

What is the minimum salary to get home loan from UCO Bank?

The minimum salary required to avail home loan from UCO Bank is ₹ 0.for salaried borrowers. The income criteria for self employed professionals or businessmen may vary in UCO Bank.

Is UCO Bank good for home loan?

The lowest interest rate provided by UCO Bank is 6.90% which is a best rate in the market. There are no prepayment charges on floating rate based home loan. Hence, you can consider this as a good option for housing loan.

Does adding a co-applicant increase housing loan eligibility?

Yes, adding a co-applicant with an independent income source increases housing loan eligibility significantly. By doing so you will be able to get a higher loan amount and also both of you can save on taxes under Income Tax Act.

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UCO Bank Home Loan News - Jun 2021
  • 2020-08-04 : UCO Bank reports Rs. 21.46 crore PAT in Q1
    UCO Bank posted a net profit of Rs.21.46 crores for the period ended June 30, 2020, as against a net profit of Rs.16.78 crores for the period ended March 31, 2020. The bank reported total income aided by retail loans like home, personal, car, two-wheeler and gold loans along with business and mudra loans of Rs.4436.57 crores during the period ended June 30, 2020. In addition to this, total deposits which include FD, RD, current and savings accounts increased by 1.4% to Rs 1,95,119.60 crore.
  • 2020-06-30 : UCO Bank Q4 net profit of Rs 16.78 crore
    UCO Bank reported a net profit of Rs 16.78 crore for the fourth quarter ended March 31, mainly due to falling in NPA and lower provisioning. Income during the March quarterbacked by the retail loan like home, personal, gold, two-wheeler, car along with business and mudra loan, increased to 4,511.21 crores, from Rs 4,148.52 crore in same period of preceding fiscal.
  • 2019-07-12 : UCO Bank eyes growth this fiscal, aims to thrust over home loans and business loans
    Public sector lender, UCO Bank is aiming to achieve steady growth during FY19-20. For this, the lender is trying to reduce its bad loans and chalking out ways to get out of RBI’s prompt corrective action (PCA) by 2020. Also, it has plans to give thrust to retail loans, including home loans, mortgage loans, MSMEs (micro, small & medium enterprises) and agriculture loans this year.
  • 2019-06-14 : UCO Bank revises MCLR rates across loan tenures
    Private sector lender, UCO Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR) across all tenure for June. Now the retail loans, including home loans and mortgage loans, would become cheaper. Now for one month and three months, the rate stands at 8.20% and 8.30% respectively. For 6 months, the rate has been revised to 8.55%. While for 1 year, the rate stands at 8.65%. The revised rates are effective from June 10, 2019.
  • 2017-04-11 : .UCO Bank chief urges its employees to contribute to bank’s performance
    UCO Bank chief has urged its employees to share the burden to improve the performance of the bank. On April 8, 2017 he made a presentation to its staff members and explained areas of improvement in customer service retail loans, housing loans and priority sector lending. He further added that the employees may not get their reimbursement if they fail to deliver the expected performance.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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