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UCO Bank Home Loan

UCO Bank Housing Loan 2021

Last Updated 08th Jun 2021

UCO Bank is a large Public Sector Bank with the lowest home loan percent rate in India. Currently, the bank offers home loans beginning from 6.90% with quick approval and online process. Home Loan in UCO Bank is quite popular with its special features and attractive rates under various UCO Bank home loan schemes for different income and occupation groups. Some of the key features of UCO Bank housing loan are:

  • UCO Bank also offers pre-approved housing loans at low rates for existing bank customers with strong credit history.
  • UCO Bank has an online application process where the KYC, income and property documents submission can be done digitally.
  • You can easily check the status of your UCO Bank home loan application status on a real time basis on the bank’s website or by visiting their customer care centre.
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UCO Bank Home Loan Details

UCO Bank offers multiple home loan products to its customers at low rates. Below-mentioned are the details of home loan UCO Bank

Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Repayment Tenure 30 years
Interest Rate 6.90%
Interest Rate Linked To RLLR
Processing Fee Upto 0.50%, Minimum ₹ 1,500 and Maximum ₹ 15,000
Lowest EMI Per Lakh ₹ 659
  • Purpose of Loan: UCO Bank house loan is taken to purchase, construct a home, renovate your existing home.
  • Key Features of UCO Bank Home Loans
    • Loan available for both salaried and self employed. Special rates for women borrowers.
    • Borrowers within the age group of 21 and 60 years.
    • Security: Mortgage of property you are planning to purchase, renovate or construct.
    • Loan to Value Ratio of 90%.
    • Loan Tenure can range from 5 to 30 years.
    • Interest rates in the range of 6.90% to 7.25%.
    • UCO Bank home loan EMI per lakh starts from ₹ 659. However, you can calculate your home loan EMI using UCO Bank home loan calculator 2021.
  • Special schemes: UCO Bank offers customised home loan interest rates and schemes for special category of borrowers including women borrowers, senior citizens, NRIs etc.

Features & Benefits of UCO Bank Home Loans

Some of the features and benefits of UCO Bank Home Loans are listed as follows:-

  • UCO Bank Home Loan Interest Rate starts from 6.75%.
  • UCO Bank charges a processing fees of Upto 0.50%, Minimum ₹ 1,500 and Maximum ₹ 15,000.
  • Loan Tenure of Home Loan ranges from 5 years to 30 years.
  • Lowest EMI per lakh on home Loan from UCO Bank is per lakh offered at the lowest interest rate of 6.75% at the longest loan tenure of 30 years.
  • UCO Bank allows prepayment of home loans with Nil charges on floating rate loans.

How to Get Easy Home Loan from UCO Bank?

Getting a home loan from UCO Bank is fairly easy with an online application process. 5 Steps for UCO Bank Home Loan Apply

  • Step 1: Visit the website, branch, or website of authorised online channel partner of UCO Bank and fill in the application form with loan amount required, property details, your personal details, occupation information and your contact number.
  • Step 2: An official of UCO Bank or online partner will call you to discuss your eligibility of the loan as well as explain the loan rates, terms as well as processing fees and other charges.
  • Step 3: Once you agree to proceed with the loan application, you will need to submit your income and property documents online or a UCO Bank’s representative will visit your home or office to collect your documents.
  • Step 4: UCO Bank will ask you to submit the processing fees and take a few days to conduct a credit appraisal and do technical evaluation of your property.
  • Step 5: If you are eligible and your property qualifies for a loan, you will be issued a sanction letter from UCO Bank and will need to sign a loan agreement with the bank. Post this, the loan will get disbursed to your account.

UCO Bank Home Loan Documents Required

To apply for a home loan in UCO Bank, the bank asks you to submit the following UCO Bank Home Loan Documents .

  • Home loan application form with three attested photographs.
  • Identity proofs: PAN, passport, Voter ID card or driving license.
  • Address or residence proofs: Recent copy of utility bills such as telephone, electricity bill, water bill, gas bill, or a copy of aadhar card, passport, driving license.
  • Property papers: Permission for the construction of a property; allotment letter; stamped agreement for sale; registered agreement for sale (only for Maharashtra); share certificate (only for Maharashtra); maintenance and electricity bill of the property; property tax receipt; conveyance deed in case of new property; payment receipts or UCO Bank account statements of the payments made to the builder or the seller; Xerox copy of the approved plan copy and registered development agreement of the builder.
  • Bank account statements for the last six months of all bank accounts held by the applicant.
  • Loan A/C statement of last one year if any loan is availed previously from any other bank or another lender.
  • Income proof for salaried: Salary certificate or salary slip for the last three months; copies of form 16 of last two years; a copy of IT returns for the last two financial years that is acknowledged by the Income Tax department.
  • Income proof for self-employed: Address proof of business; Income tax returns of last three years; balance sheet and Profit & Loss A/c for last three years; business license details; TDS certificate or Form 16 A.
  • Self-employed professionals like CA or doctors, amongst others, are also required to submit the certificate of qualification.

UCO Bank Home Loan EMI Calculator

UCO Bank home loan EMI calculator helps the home loan borrowers plan their home loan EMIs, that is composed of the monthly interest rate, and monthly reducing balance. The calculator functions on the basic components of the principal amount, loan tenure and interest rate. UCO Bank Home loan calculator helps the loan borrower pre-plan their home loan in advance.

UCO Bank Home Loan Eligibility Calculator

UCO Bank Home loan eligibility calculator is an online tool that helps the UCO Bank home loan borrowers get an estimate of their home loan eligibility. The eligibility calculator takes into consideration various factors such as the income of the applicant, age, work experience, employment and credit score. The eligibility calculator helps one analyse their ability and affordability of a home loan. You can also add a co-applicant in case your loan eligibility is lower than the amount.

Compare UCO Bank Home Loan with Other Banks

FAQs

What are the documents required for home loan UCO Bank?

To apply for UCO Bank Home Loan, you will be required to submit UCO Bank home loan documents such as home application form with attested photographs along with various other documents such as identity proof, bank statements, residence proof, property papers and loan account statements if any.

Why should I take a home loan from UCO Bank ?

Below-mentioned is the reason why you must avail a home loan from UCO Bank

Can I apply for an UCO Bank home loan online?

Yes, you can apply for a UCO Bank home loan online by visiting the bank’s official online portal for home loans or at an online marketplace like MyLoanCare.

Which is the best UCO Bank home loan scheme?

Choosing the best UCO Bank home loan scheme is subjective to the requirement of the home loan applicant. For instance, there are different home loan offers for the purchase, construction or renovation of a home. Thereby, choosing the best UCO Bank home loan scheme is based on one’s needs.

Is UCO Bank good for a home loan?

UCO Bank is one of the best home loan lenders in the country. Currently, UCO Bank home loan interest rate 2021 starts at 6.65%.

How can I check my UCO Bank home loan status?

One can check their UCO Bank home loan status on UCO Bank’s home loan portal under the option. ‘Application tracker’. Apart, home loan status can also be checked on the UCO Bank mobile app

What is the eligibility for a Home Loan of UCO Bank?

The eligibility to avail a Home Loan is set across the applicant’s age and income. The age of the applicant should range between 18-70 years. Further the minimum income of the applicant should be ₹ 25,000 along with a good credit score of 650 and above.

What is UCO Bank Home Loan procedure?

There are two methods to complete the application for UCO Bank Home Loan Process online:

  • Apply online at UCO Bank official website or online portal for home loans.
  • Online Marketplace like MyLoanCare

However, Availing a loan through an online marketplace improves your the chances of getting the best loan rates, low processing fees and special offers in the form of cash backs.

What is the maximum loan tenure I can opt under UCO Bank house loan?

UCO Bank offers you a longer tenure of 30 years to repay your loan with the benefit of paying less EMI per month.

Does UCO Bank check CIBIL for home loan?

Yes, to avail home loan from UCO Bank, you must fulfill UCO Bank Home Loan CIBIL requirement of a min CIBIL Score of 650 or above.

Can I transfer my house loan from another bank to UCO Bank?

Yes, Bank gives you the facility to transfer your existing loan with a hassle-free process. Availing loan transfer to UCO Bank can allow you to save interest, pay lower EMIs, and save money.

Can I club the income of my spouse with mine and apply for joint Home Loan?

You can club the income of your spouse to increase your Home Loan eligibility if the spouse is co-owner of the property or guarantor of the loan.

What is the benchmark applicable for a housing loan?

The benchmark applicable for Home Loan in UCO Bank is RLLR . RLLR is an external benchmark wherein commercial banks use the RBI’s repo rate to calculate the retail loan interest rate. In RLLR, the reset period is 3 months which implies that banks would revise your interest rate of RLLR-linked loans every 3 months.


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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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