UCO Bank
Home Loan

UCO Bank home loans can be availed at an attractive interest rate starting from 8.35% - 10.00% p.a. The bank offers home loans for purchase, construction, improvement, and extension of a house or flat. The home loan eligibility for UCO Bank home loan includes both salaried and self-employed individuals. The applicant can be both Resident and Non-Resident Indian. The bank also offers a home loan balance transfer facility that helps existing home loan borrowers to switch ongoing home loans from other banks and NBFCs to UCO Bank.

UCO Bank home loan lets you realize your dream of buying your own home. Being a public sector entity, UCO Bank is the most preferred home loan. The competitive rate of interest for different home loan schemes, transparent terms and conditions, broad eligibility criteria and flexible repayment terms are the proven benefits of UCO Bank home loan. 

Also Read - Home Loan Tax Benefits

The UCO Bank home loan offers the following benefits:

• The long repayment term of up to 30 years or up to age 75, whichever is earlier.
• Attractive home loan rate of interest starting at 8.35% - 10.00% p.a.
• Home loan eligibility includes salaried and self-employed individuals.
• Different home loan schemes to cater to purchase, construction, renovation, and repair of the property.
• Up to 90% Loan-to-Value ratio.
• Applicable UCO bank home loan interest rate linked to CIBIL score.
• Low processing fee of 0.50% of the loan amount.
• No third-party guarantee is required.

Option to avail of home insurance through UCO Griha Jeevan Suraksha. 

The UCO Bank home loan interest rate is directly linked to the Repo Rate. It is called the UCO Float Rate and is presently fixed at 8.35% - 10.00% p.a. The bank charges an additional Spread over Float rate to determine the actual interest applicable on the home loan. The Spread is based on the customer’s CIBIL score and Loan to Value Ratio The actual interest applicable on UCO Bank home loan is:

Also Check - ICICI Bank Home Loan Interest Rates

The fee and other charges applicable on UCO Bank Home Loan are:

UCO Bank offers home loans under various schemes. These schemes cater to the different needs of home loan seekers. These are:

UCO Home - UCO Bank offers a regular home loan scheme under the name UCO Home. Both salaried and self-employed individuals are eligible for this home loan. The loan proceeds can be used for the purchase and construction of a house or flat. In case of extension or repair of existing property, the property must not be more than 50 years old. Likewise, for the purchase of an old house, the property must not be more than 40 years old. UCO Home loan can also be availed for furnishing of the property.           

UCO Pre Approved Home Loan – Under UCO pre-approved home loan, the applicant gets an in-principle sanction of home loan even before the property is finalized. The amount of home loans approved is based on home loan eligibility as per monthly income criteria under the UCO Home scheme. The terms and conditions of the UCO Pre Approved Home Loan are the same as UCO Home.               

UCO Top-Up Home Loan – Existing home loan borrowers can apply for a loan top-up in case more funds are required. The top-up loan proceeds can be used for any other purpose like child’s education, repair, renovation and furnishing of property, business needs, etc. The property already mortgaged as primary security under the UCO Home scheme is used for the purpose. The top-up loan amount ranges between Rs. 1 lakh and Rs. 25 lakh.

UCO Bank Home Loan EMI Calculator helps the home loan borrower know the exact EMI amount payable for the offered UCO Bank housing loan terms. Thus, one can easily make changes in the loan amount, rate of interest, and loan term to reach the ideal EMI amount. The table below lists the UCO Bank home loan EMIs for different loan amounts and loan durations. UCO Bank home loan interest rate is taken as 8.35% - 10.00% p.a.

The UCO Bank home loan eligibility conditions are as under:

Also Check - ICICI Bank Home Loan Eligibility

Home loan borrowers must submit the following documents in order to avail a UCO Bank Home Loan.

Also Read - Income Tax Documents Required for Home Loans

Online portal MyMoneyMantra.com offers a simple and hassle-free process to apply for a home loan. Availability of a comprehensive database allows easy comparison, making the home loan application process effective and quick. To apply for a UCO Bank home loan through MyMoneyMantra.com, the steps involved are:

• Visit the official website of MyMoneyMantra
• Scroll down the Home Page 
• Click on the Home Loan link
• Enter the required information and submit the inquiry form.

Upon receiving the home loan inquiry request, a representative from MyMoneyMantra will contact you on the provided contact number to discuss and process your UCO Bank home loan request.

Also Read - Home Loan Disbursement Process

UCO Bank home loan customer care can be contacted through email or phone. Customers can check the link https://www.ucobank.com/english/retail-loan-hub-contactdetails.aspx to find the exact contact details and email ID. 

Also Check - ICICI Bank Home Loan Customer Care