UCO Bank Loan Against Property Interest Rates 2016

Loan Against Property

UCO bank provides loan against property at the floating interest rate ranging from 11.60% to 12.60% per annum. The loan can be taken for a personal expenditure of varied needs like medical emergencies, travelling expenses, social obligations etc. With longer tenure period of 12 years and easy repayment facility, UCO bank loan against property is one of the best options for loans available in the Indian market.

UCO Bank Loan Against Property Details

ParticularsDetails
Interest Rate11.60% to 12.60% per annum
Maximum Loan AmountFor Individuals: Rs. 2,00,00,000/-

For Firms/Companies: Rs. 5,00,00,000/-

OR up to 60% of the market value of the property
Tenure12 years
Processing FeesRs. 122/- per lac or a minimum of Rs. 250/-
Repayment Mode

EMI

Features & Benefits of UCO Bank Loan Against Property

  • Loan to firms/companies and individuals
  • Loan for personal expenditure of varied needs
  • Higher loan amount of up to Rs. 5,00,00,000
  • Tenure period of 12 years
  • Floating interest rate ranging from 11.60% to 12.60% per annum
  • UCO Rin Jeevan Suraksha to cover the outstanding loan in case of accidental or natural death of the borrower
  • Loan against equitable mortgage/registered mortgage of unencumbered non-agricultural land/residential house/flat/apartment/commercial property situated in metro/urban/semi-urban centres

Eligibility for Loan Against Property at UCO Bank

Here is the list of who all can apply for the UCO bank loan against property:

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For Salaried Individuals:

  • Minimum age of 21 years and maximum age of 65 years
  • Minimum net monthly income of Rs. 30,000/- per month at metro centres and Rs. 20,000/- for other centres
  • Net take home pay should not be less than 40% of gross salary or Rs. 10,000/- whichever is higher after deduction of all investments like PF, Insurance Premium, Income Tax, Professional Tax and other statutory deductions or EMIs

For Professional/Businessmen Individuals:

  • Minimum age of 21 years and maximum age of 65 years
  • Regular source of income
  • Minimum income of Rs. 4,00,000 per annum at all centres as per latest ITR
  • Net take home pay should not be less than 40% of gross income or Rs. 10,000/- whichever is higher after deduction of all investments like PF, Insurance Premium, Income Tax, Professional Tax and other statutory deductions or EMIs

Documents Required

The list of documents that you need to submit at the time of loan are as follows:

  • Filled up loan application form
  • Identity Proof (PAN Card/Voter ID Card/Driving License/Aadhaar Card etc.)
  • Address Proof (Passport/Ration Card/Aadhaar Card etc.)
  • Income Proof
  • Bank Statements
  • 2 Passport size photographs
  • Office identity card
  • Birth certificate

UCO Bank Mortgage Loan Application Form

The mandatory fields that needs to be filled in the loan application form are:

For Individuals

  • Name of the applicant/s
  • Date of Birth
  • Address Details
  • PAN Card number
  • Occupation particulars
  • Income particulars

For Firms/Companies

  • Business name
  • Date of commencement of business
  • Nature of constitution
  • Business address
  • Registration number
  • PAN number
  • Last 3 years business performance
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Other details to be mentioned in the form:

  • Purpose of the loan
  • Margin offered
  • Signature of the applicant/s

How to Apply

Submit all the documents along with the filled up application form and submit it to the nearest bank branch.

UCO Bank Loan Against Property EMI Calculator

With the help of online EMI calculator, you can check the monthly instalments for each month of your tenure period. For eg. If you are taking a loan of Rs. 15,00,000 at the rate of interest of 11.60% per annum for a tenure period of 12 years, the monthly EMI will be Rs. 19,340/-. You can also check the total interest outgo and total amount for the tenure period with the help of the calculator.

Table for EMI per month, Total Interest Outgo and Total Amount

Amount
(in Rs.)
Interest Rate
(p.a)
Loan Tenure
(in years)
EMI
(in Rs.)
Total Interest Outgo
(in Rs.)
Total Amount (Principal + Interest)
(in Rs.)
15,00,00011.60%-12.60%11,32,993 - 1,33,69595,912 - 1,04,33515,95,912 - 16,04,335
15,00,00011.60%-12.60%270,330 - 71,0311,87,928 - 2,04,75016,87,928 - 17,04,750
15,00,00011.60%-12.60%349,535 - 50,2522,83,274 - 3,09,08717,83,274 - 18,09,087
15,00,00011.60%-12.60%439,207 - 39,9443,81,926 - 4,17,31618,81,926 - 19,17,316
15,00,00011.60%-12.60%5 33,064 - 33,8234,83,856 - 5,29,39519,83,856 - 20,29,395
15,00,00011.60%-12.60%629,014 - 29,7955,89,023 - 6,45,27020,89,023 - 21,45,270
15,00,00011.60%-12.60%726,159 - 26,9636,97,382 - 7,64,87621,97,382 - 22,64,876
15,00,00011.60%-12.60%824,051 - 24,8768,08,877 - 8,88,13923,08,877 - 23,88,139
15,00,00011.60%-12.60%922,439 - 23,2879,23,448 - 10,14,97624,23,448 - 25,14,976
15,00,00011.60%-12.60%10 21,175 - 22,04410,41,027 - 11,45,29325,41,027 - 26,45,293
15,00,00011.60%-12.60%1120,163 - 21,05311,61,540 - 12,78,99326,61,540 - 27,78,993
15,00,00011.60%-12.60%1219,340 - 20,25012,84,910 - 14,15,96727,84,910 - 29,15,967
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Amortization Table

YearPrincipalInterestBalance Amount
1 61,271 - 57,2291,70,809 - 1,85,771
14,38,729 - 14,42,771
268,768 - 64,8731,63,312 - 1,78,127
13,69,961 - 13,77,898
377,182 - 73,536
1,54,898 - 1,69,464
12,92,779 - 13,04,362
486,628 - 83,3551,45,452 - 1,59,64512,06,151 - 12,21,007
597,229 - 94,4851,34,851 - 1,48,515
11,08,922 - 11,26,522
6 1,09,127 - 1,07,104 1,22,953 - 1,35,8969,99,795 - 10,19,418
71,22,478 - 1,21,405
1,09,602 - 1,21,5958,77,317 - 8,98,013
81,37,466 - 1,37,617
94,614 - 1,05,3837,39,851 - 7,60,396
91,54,289 - 1,55,994
77,791 - 87,006
5,85,562 - 6,04,402
101,73,170 - 1,76,82658,910 - 66,174
4,12,392 - 4,27,576
111,94,361 - 2,00,43837,719 - 42,5622,18,031 - 2,27,138
122,18,215 - Rs. 2,27,34813,935 - 15,795 0

UCO Bank Loan Against Property Interest Rate

The interest rates available for UCO bank mortgage loan against property starts from 11.60% to 12.60% per annum.