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UCO Bank Home Loan Interest Rates 2021

UCO Bank Housing Loan Interest Rate -Today

Last Updated 08th Jun 2021

Current UCO Bank Home Loan interest rates Jul 2021 starts at 6.90% p.a. for a maximum tenure of 30 years. The processing fee on its housing loans is Upto 0.50%, Minimum ₹ 1,500 Maximum ₹ 15,000.

Loan AmountUCO Bank Repo Rate Home Loan Rate
Upto ₹ 30 Lakh6.90%
₹ 30 Lakh - ₹ 75 Lakh6.90%
₹ 75 Lakh - ₹ 1 Cr6.90%
Above ₹ 1 Cr6.90%
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Current UCO Bank Home Loan Rate

Today UCO Bank home loan interest rates are in the range of 6.90% to 7.25%, with special discounted rates for specific categories of borrowers such as women borrowers for whom the bank offers the lowest interest rate of 6.90%.

Below-mentioned are UCO Bank home loan rates for multiple housing schemes.

UCO Bank Home Loan Scheme Interest Rates
UCO Bank Repo Rate Home Loan6.90% - 7.25%

UCO Bank Home Loan Interest Rates for Salaried and Self Employed

The home loan interest rates in UCO Bank for salaried & non-salaried employee is mentioned in the table below:

Home Loan Interest Rate for Salaried

Loan Amount Rate
Upto ₹ 30 Lakh 6.90%
₹ 30 Lakh - ₹ 75 Lakh 6.90%
₹ 75 Lakh - 1 Cr 6.90%
Above ₹ 1 Cr 6.90%

Home Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 30 Lakh 6.90%
₹ 30 Lakh - ₹ 75 Lakh 6.90%
₹ 75 Lakh - 1 Cr 6.90%
Above ₹ 1 Cr 6.90%

UCO Bank Home Loan Processing Fee and Other Charges

UCO Bank home loan processing charges are upto 0.50% of the loan amount from its home loan customers to cover its expenses of conducting credit appraisal and technical evaluation of property. UCO Bank charges a minimum processing of ₹ 1,500 on home loan which is typically non-refundable and has to be paid at the time of loan application. In addition to processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.

Processing Fees Upto 0.50% of the loan amount; minimum processing fee of ₹ 1,500 to maximum fee of ₹ 15,000
Foreclosure Charges Nil for floating rate home loans

UCO Bank Home Loan Balance Transfer Interest Rates

UCO Bank home loan balance transfer facility is ideal for existing home loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to UCO Bank at a lower rate of interest, without closing the account. However, you do need to check the foreclosure charges that you have to pay to your existing lender if it is a fixed rate loan. Currently, UCO Bank offers the lowest home loan balance transfer rate of 6.90%.

Illustration on Home Loan Interest Rate UCO Bank
Maximum Annual Percentage Rate (APR) 6.92% to 7.27%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 5 Years to 30 Years
  • UCO Bank Home Loan Interest Rate: 6.90% to 7.25%
  • Processing Fee payable to: Upto ₹ 500
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 659 for 30 Years ₹ 1,00,000 loan at 6.90% (lowest rate, longest time period) to ₹ 1,992 for 5 Years ₹ 1,00,000 loan at 7.25% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 6.92% to 7.27%
  • Total cost payable over loan tenure: ₹ 1,19,025 for 5 Years loan to ₹ 2,37,596 for 30 Years loan

FAQs

What is UCO Bank Home Loan Interest Rate?

UCO Bank Home Loan interest rate ranges between 6.90% to 7.25%. The salaried borrowers with high credit score and income are eligible to get lower interest rates.

Has UCO Bank reduced home loan rates?

Presently, UCO Bank offers personal loans at an interest rate starting at 6.90%. There has been no change in personal loan rates of UCO Bank for a long time and continue to stand at 6.90%.

Why should I opt for balance transfer to UCO Bank?

UCO Bank offers lowest Home Loan EMI of ₹ 659 per lakh availed at the lowest interest rate 6.90% for a maximum tenure of 30 years. you are paying an EMI more than ₹ 659 per lakh, you should consider the option for a loan transfer to UCO Bank from your existing bank.

  • UCO Bank offers RBI Repo Rate linked Home Loan which starts at 6.90%. Current Repo Rate of RBI is 4.00%. The Bank adds a mark up on RBI’s repo rate which is called UCO Bank Repo Rate Linked Lending Rate (RLLR). RLLR can change with change in Repo Rate. An additional spread is applied on RLLR which remains the same throughout the tenure. Bank applies a premium of 2.9% to the Repo Rate to arrive at this rate.
  • When RBI increases rates, the bank may increase its Repo Rate linked Home Loan rates by the same basis points for all existing and new Home Loans. When RBI cuts interest rates, the UCO Bank Home Loan interest rates will reduce the interest rates by the same basis points, which will be effective from the 1st day of the following month.
  • For instance, if RBI slashes Repo Rate by 0.15%, then UCO Bank Repo Rate linked Home Loan rate will cut from 6.90% to 6.75%.

What is the current UCO Bank Home Loan rate?

The current UCO Bank Home Loan rate starts from 6.90% with a processing fee of Upto 0.50%, Minimum ₹ 1,500 and Maximum ₹ 15,000.UCO Bank housing loan rate varies across the applicant’s eligibility and the scheme they opt for. UCO Bank offers different home loan rates for different home loan products.

Can UCO Bank housing loan interest rate be negotiated?

Yes, if you have a good relationship with the bank and a high credit score, you can negotiate with UCO Bank to lower the home loan rates.

What are the interest rates of home improvement loans in UCO Bank?

You can avail of UCO Bank home loans for home improvement at regular home loan rates starting at 6.65%.

Can UCO Bank revise the home loan interest rates for their existing customers?

UCO Bank home loan rates change for the existing customers if they have availed home loans at a floating rate of interest. The floating interest rates on home loans vary as per the change in market trends or in external benchmark rates such as the repo rate.

Does UCO Bank offer a concessional home loan interest rate for women?

Yes, UCO Bank offers special home loan interest rates for women. As against UCO Bank home loan rates for male which is 6.90%, the home loan interest rate for women starts at %.

What is the UCO Bank home loan rate of ₹ 25 Lakh for 15 years?

UCO Bank home loan varies as per the loan amount. For home loan upto ₹ 25 Lakh, UCO Bank provides home loan interest rate starting at 6.65%.

At what interest rate does an UCO Bank employee get a home loan?

UCO Bank offers concessional home loan rates of about 1% than the current home loan rates to UCO Bank employees.

Is UCO Bank home loan a floating rate loan or fixed-rate loan?

UCO Bank home loan is offered at both fixed and floating rate. In the case of the fixed rate, the interest remains the same whereas in the case of the floating rate the home loan rates keep varying according to the market.


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UCO Bank Home Loan News - Jul 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.
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