UCO Bank Home Loan Interest Rate

UCO Bank offers house loans starting at 7.90% p.a. for terms of up to 30 years and loan values of up to 90% of the property's purchase price. It also provides pre-approved house loans to select consumers even before the property is finalized, with in-principle approval valid for four months.

UCO Bank Home Loan Interest Rate 2022

The interest rate you are offered is determined by the bank's creditworthiness classification and the amount of your home loan. Here is a list of UCO Bank home loan interest rates-

1) UCO Home Loan Interest Rate for Pre-Approved Loans

CIBIL Score

Interest Rate

Below 750

8.40%

750 & above

8.30%

2) UCO Bank Home Loan Rate for UCO Home Loan

CIBIL 

Interest Rates

Below 750

8.00%

750 & above and LTV > and up to 90%

8.00%

750 & above and LTV less than 80%

7.90%

3) UCO Bank Housing Loan Interest Rate for Top Up Loan

Loan Type

Interest Rate

UCO Home Loan Top-up

10.10% p.a.

Processing Fees of UCO Bank Home Loans

  • Top-Up Home Loan from UCO - 0.10% of the loan amount, up to Rs. 10,000.
  • UCO Home - 0.5% of the loan amount, with a minimum of Rs.1,500 and a maximum of Rs.15,000.
  • UCO Pre-approved Home Loan - 0.25% of the loan amount, with a minimum of Rs. 1,000 and a maximum of Rs. 10,000.

Eligibility for the UCO Bank Home Loans

Individuals (including NRIs and PIOs) between the ages of 21 and 70 (inclusive of payback time) are eligible to apply for the home loan scheme from UCO Bank to purchase their dream home.

Documents Required for UCO Bank Home Loans

Following are the documents required for UCO Bank Home Loans-

1) Salaried Employees

  • Filled out and signed the application form, which included photographs.
  • Proof of identity, address, and age
  • Salary slip for the last three months
  • Bank statement over the previous six months
  • Details on Form-16 and Income Tax Returns (ITR).
  • The property's title documentation

2) For Non-Salaried Persons

  • Completed and signed application form with images
  • Proof of identity, address, and age
  • ITR and financial statements (balance sheet, profit and loss account, and schedules). (Documents must be CA-certified.)
  • Bank statement over the previous 12 months
  • For partnership firms, the most recent partnership agreement.
  • The Latest Memorandum and Articles of Association (CA certificate on profit sharing ratio/list of directors/shareholding partnership) for corporations.
  • LLP stands for Limited Liability Partnership.
  • Property title paperwork and verification of business address

Types of UCO Bank Home Loans

There are kinds of UCO Bank home loans provided for different reasons-

1) UCO Bank Pre-Approved Home Loan

This is when the applicant has not yet finalized the property; an in-principle house loan sanction is made based on home loan eligibility. The pre-approval sanction is valid for four months.

2) The UCO Housing Loan

This scheme is for the purchase/construction of a flat/house, the extension/repair/renovation of an existing house/flat up to 50 years old, and the purchase of a house/flat up to 40 years old, and the balance transfer of existing home loans at lower interest rates from other banks and HFCs.

3) UCO Top-Up Loan

This is an additional loan on an existing house loan to suit the borrower's numerous financial needs.

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