UCO Bank Gold Loan Interest Rates

To enable owners of gold ornaments to use them for purposes such as agriculture, retail commerce, Micro & Small Enterprises (MSE), education, housing, etc., UCO Bank offers gold loans to borrowers in the form of demand loans.

Depending on the loan's purpose, the interest rate for a gold loan from UCO Bank ranges from 7% p.a. to 7.50%. Borrowers living in urban, semi-urban, rural, and metropolitan areas will be able to take advantage of simple, immediate credit facilities thanks to the UCO Bank gold loan plan.

In its gold lending program, UCO Bank will continue to maintain a 25% margin over the market price of gold.

Details of the UCO Bank Gold Loan Scheme

UCO Bank Gold Loan Interest Rate

Up to one-year MCLR + 3.15%

Eligibility

Creditworthy individuals

Amounts

Variable

Tenures

Variable

UCO Bank gold loan per gram rate today

Rate Per Gram is ₹ 2,900 to ₹ 3,450

Characteristics of the UCO Bank Gold Loan Scheme

  • Goal: The UCO Bank gold loan provides consumers with a straightforward solution to meet all kinds of personal needs, including weddings, education, and business expansion.
  • Loan Amount: The amount of the UCO Bank gold loan is determined by the loan's purpose.
  • Interest: Up to one-year MCLR + 3.15% is the interest rate on UCO Bank gold.
  • Storage: After the full loan has been repaid, you can retrieve the gold jewelry you gave the bank as collateral from the bank's safe.
  • Gold Loan Tenure: The length of time that the UCO Bank gold loan must be repaid depends on the loan plan and the borrower's capacity to make payments.

UCO Bank Gold Loan Interest Rate 2022

According to the loan's intended use, UCO Bank offers gold loans at variable interest rates. According to the loan's purpose, UCO Bank charges the following interest rates, which are listed in the table below-

Margin

UCO Gold Loan Interest Rate

25%

25%

L804R

25%

7.50% p.a.

7.00% p.a.

Who is Eligible for the UCO Bank Gold Loan Scheme?

Anyone who meets the requirements listed below is eligible for a UCO Bank gold loan-

 

  • Possesses gold jewelry or decorations.
  • Engaged in activities connected to retail, MSE, housing, education, and agriculture, among other things.
  • Able to secure and present the required statement outlining the loan's purpose.

Documents Required to Apply for the Gold Loan Scheme from UCO Bank

When applying for a UCO Bank gold loan, the following documents must be submitted.

  • The applicant filled out the application form completely.
  • Images of the applicant.
  • Voter ID cards, passports, driver's licenses, and UIDAI-issued Aadhaar cards are all acceptable forms of identification.
  • Voter ID cards, passports, driver's licenses, and UIDAI-provided Aadhaar cards are all acceptable forms of address verification.

Advantages of the UCO Bank Gold Loan Scheme

  • Multipurpose: UCO Bank Gold loans can be utilized for any reason the borrower may have, including personal expenses like wedding or vacation costs, as well as commercial needs like purchasing raw materials or expanding.
  • Prepayment: Without having to worry about prepayment fees, borrowers have the option of paying off their UCO Gold loan early.
  • Quick approval: If the applicant already has an account with UCO Bank, the Gold Loan application will be swiftly granted. In this situation, the applicant simply needs to attend the bank branch with the gold that will be pledged; no documentation is needed.
  • High quantum: Depending on their needs and backgrounds, borrowers may be eligible for UCO Bank Gold Loans in a variety of denominations.
  • Competitive interest: The UCO Bank gold loan has a competitive interest rate, which makes repayment easy on the wallet and offers practical ways to do it.

Gold Approval for Loan by UCO Bank

Your gold jewelry will be evaluated for its purity, weight, and fineness when you apply for a gold loan from UCO Bank by a seasoned goldsmith with a solid reputation, pertinent expertise, and unquestionable integrity. To find a goldsmith with all the aforementioned qualities, the bank will make discreet inquiries.

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