UCO Bank Car Loan

Gaining the possession of the car is increasingly becoming the status symbol for most of the people in India. Without car, life seems incomplete, isn’t it? It’s a dream which we live each single day. But simply dreaming will not serve the purpose. You need to keep looking around at the suitable financing options and the right lender to buy the car.

The car financing space, which has gone past the level of ₹ 80,000 crores in India, has bundle of opportunities for budding car loan seekers. And one such opportunity is the car loan of UCO Bank, a public lender that run close to 5,000 service units, 49 zonal offices across India. The operation of Kolkata-headquartered bank is not limited to India as it has two overseas branches one each in Singapore and Hong Kong. UCO Bank achieved a rank of 294 among most trusted brands of India as per the Brand Trust Report.

UCO Bank offers loan for the purchase of passenger cars, Sports Utility Vehicles (SUVs), Multi-utility Vehicles (MUVs), etc. The USP of UCO Bank car loan is the lower interest rate of 9 per cent per annum and no prepayment penalty. Processing fee taken by the bank for car loan is 1% of the total loan amount subject to a minimum of ₹ 1,500.


Maximum Loan85% of the on-road price (Ex-showroom price+Road Tax+Registration+Insurance)
Maximum Loan for Salaried Professionals35 times of gross monthly income
Maximum Loan for Self-employed3 times of average gross annual income for the last 2 years
Maximum Repayment Period7 years

UCO Bank Car Loan Interest Rate 2017 

Interest Rate9.00% per annum for new cars, 10.10%-10.60% per annum for used cars
Processing Fee1% of the total loan amount subject to a minimum of ₹ 1,500.
Prepayment FeeNIL
Margin15% of road price of car

Eligibility Criteria

ParametersSalaried ProfessionalsSelf-employed
Age21-70 years21-70 years
Minimum IncomeMinimum net monthly income of ₹ 20,000Minimum business income of ₹ 4 lacs-5lacs per annum
Employment/Business ContinuityNot specified by the bankNot specified by the bank

Factors affecting your car loan eligibility

  • Monthly Income
  • Savings
  • Age
  • Car Value
  • Car Model Type
  • Credit History
  • Employment Status for Salaried
  • Longevity in the business for self-employed
  • Category of your employer
  • Accommodation

UCO Bank Car Loan Eligibility Calculator

If you are earning an income of ₹ 45,000 per month and your saving comes out to be ₹20,000, which accounts for nearly 45% of your monthly income. The UCO Bank will decide upon your loan amount eligibility after computing per lakh EMI

Amount= 1 lakh

Interest Rate=9% per annum

Tenure=7 years

Per lakh EMI=1,609

Loan Amount Eligibility= 1,00,000x20,000/1,609= 12.43 lakhs

With this loan amount, you can buy Volkswagen Vento, Honda City, Maruti Suzuki Ciaz, Renault Duster, among a series of premium cars.

UCO Bank Car Loan EMI Calculator

The car loan EMI calculator works simply by using the principal loan amount, tenure and the rate of interest to ascertain the monthly installments one has to pay for their car loan.

Car loan EMI is calculated with the help of a formula shown below.

[ P x R X (1 + R) ^ N] / [ (1 + R) ^N – 1]

Where, P= Principal Loan Amount

R=Rate of Interest

N=Total Loan Tenure

Suppose you avail a car loan of ₹ 3,00,000 from UCO Bank at a prevailing interest rate of 9% per annum for 7 years. Then EMI, total interest and overall amount payable come out to be ₹ 4,827, ₹ 1,05,445 and ₹4,05,445, respectively.

Table showing EMIs, interest on car loan of 3,00,000 from UCO Bank for different periods

Loan AmountLoan TenureInterest RateEMITotal Interest OutgoTotal Amount (EMI+Interest)
₹ 3,00,00019% p.a.₹ 26,235₹ 14,825₹ 3,14,825
₹ 3,00,00029% p.a.₹ 13,705₹ 28,930₹3,28,930
₹ 3,00,00039% p.a.₹ 9,540₹43,437₹ 3,43,437
₹ 3,00,00049% p.a.₹ 7,466₹ 58,345₹ 3,58,345
₹ 3,00,00059% p.a.₹ 6,228₹ 73,650₹ 3,73,650
₹ 3,00,00069% p.a.₹ 5,408₹ 89,352₹ 3,89,352
₹ 3,00,00079% p.a.₹ 4,827₹ 1,05,445₹ 4,05,445

Amortization Table


YearPrincipalInterestBalance Amount
1₹ 32,231₹ 25,693₹ 2,67,769
2₹ 35,255₹ 22,669₹ 2,32,514
3₹ 38,564₹ 19,360₹ 1,93,950
4₹ 42,180₹ 15,744₹ 1,51,770
5₹ 46,137₹ 11,787₹ 1,05,633
6₹ 50,464₹ 7,460₹ 55,169
7₹ 55,205₹ 2,726₹ 0

Essential Documents

ProofsSalaried ProfessionalSelf-employed
Age ProofPassport Copy/PAN Card/ Voter ID card, Photo Driving License with birth date (laminated, recent, legible)/Photo ration card with DOB/Employer certificate/ID/School/College Leaving CertificatePassport Copy/PAN Card/Voter ID card, Photo Driving License with birth date (laminated, recent, legible)/Photo ration card with DOB/Employer certificate/ID/School/College Leaving Certificate
Identity ProofPAN Card/Voter ID/Passport/Driving License, 2 passport size photographsPAN Card/Voter ID/Passport/Driving License, 2 passport size photographs
Income ProofForm 16 for last 2 years, Latest Salary Slip, 6-month bank statementIT returns for the last 2 years along with audited balance sheet, P&L account statement for 2 years, Shop & establishment act certificate / sales tax certificate / SSI registered certificate / copy of partnership
Address ProofLatest Telephone Bill/ Electricity Bill/Property Tax Receipt/Passport/ Voter IDLatest Telephone Bill/ Electricity Bill/Property Tax Receipt/Passport/ Voter ID
Signature Verification ProofDriving License/Passport copy/PAN CardDriving License/Passport copy/PAN Card

UCO Bank Car Loan Application Form

You can easily apply for car loan at UCO Bank by filling in the details asked in the application form, which you can get at the branch or the website of of the lender. Moment the application form is submitted, UCO Bank will send a representative to visit your residence and official addresses mentioned in the documents. The representative will scrutinize the authenticity of income details shown by you in addition to the addresses. If everything goes fine, then you can get the loan to buy your dream car within a week of application submission.

UCO Bank Car Loan Application Status

With the entry of application reference number, you can view the status of your car loan application online at UCO Bank. Else, you can visit the branch, where you have submitted your application, to know the status.

UCO Bank Branches in Select Cities



BranchAddressPhone NumberIFSC Code
Connaught CircusUCO Bank, New Asiatic Building, Connaught Circus, New Delhi-1100011123322189UCBA0000009
Karol BaghUCO Bank, 12 By 20 Arya Samaj Road, Karol Bagh, New Delhi -1100051125722420UCBA0000044
Subzi MandiUCO Bank, 51000, G.T.Road, Near Clock Tower, Subzi Mandi, Delhi-1100071123914731UCBA0000057
Kamla NagarUCO Bank, 119 By E Kamla Nagar, DELHI-1100071123842802UCBA0000063
Chawri BazarUCO Bank, 3601, Chawri Bazar, DELHI- 1100061123910019UCBA0000070
Asaf Ali RoadUCO Bank, Jeevan Udyog Building, Asaf Ali Road, New Delhi- 1100011123272073UCBA0000115
South Patel NagarUCO Bank, 27 South Patel Nagar, New Delhi -1100081125781605UCBA0000117
Parliament StreetUCO Bank, 5, Parliament Street, New Delhi – 1100011123718551UCBA0000120
Defence ColonyUCO Bank, A – 7 Shopping Cum Office Complex, Defence Colony, New Delhi- 1100241124692260UCBA0000153
Kirti NagarUCO Bank, B-6, Tagore Market, Najafgarh Road, Kirti Nagar, New Delhi- 1100151125934386UCBA0000201


BranchAddressPhone NumberIFSC Code
India Exchange PlaceIndia Exchange Place Branch (Post Box 2148), 2, Kolkata- 7000013322303383UCBA0000002
Burra BazarUCO Bank, 1 Sambhu Mullick Lane, Kolkata-7000073322387879UCBA0000014
Cornwallis StreetUCO Bank, 63, College Street, Kolkata-7000733322413400UCBA0000023
BhowaniporeUCO Bank, 10, Priyo Nath Mullick Road, Kolkata – 7000253324751579UCBA0000031
New Market3 and 4, Lindesey Street, New Market, Kolkata-7000163322499484UCBA0000069
BallygungeUCO Bank, 15 By 1A Gariahat Road, Kolkata-7000193324407314UCBA0000095
Dharamtala StreetUCO Bank, 45 Lenin Sarani, Kolkata-7000133322441066UCBA0000149
DumdumUCO Bank, 458 A and B Jessore Road, NGR Bazar, Dumdum, Kolkata-7000283325296967UCBA0000163
JadavpurUCO Bank, 23, Raja S C Mullick Road, Kolkata-7000323324125445UCBA0000164
Park CircusUCO Bank, P – 64 DR. Sundri Mohan Avenue, Park Circus, Kolkata-7000143322447021UCBA0000178


BranchAddressPhone NumberIFSC Code
D.N. RoadDN Road Mumbai Branch (Post Box 833), UCO Bank Buildings, D.N. Road, Mumbai- 400023222870256UCBA0000003
KalbadeviGokul Building, 66/A, DR. Atmaram Merchans Road, Bhuleshwar, Kalbadevi, Mumbai- 4000022222068047UCBA0000004
GhatkoparAbove Parekh Market, Mahatma Gandhi Road, Ghatkopar, Mumbai-4000772225149606UCBA0000006
Santa Cruz (West)UCO Bank, Karavala Lodge, Station Road, Santa Cruz West, Mumbai-4000542226494752UCBA0000061
Churchgate ReclamationUCO Bank, Industry House, 159 Churchgate Reclamation, Mumbai- 4000202222025181UCBA0000096
Abdul Rehman StreetUCO Bank, 354, Abdul Rehman Street, Mumbai-4000032223445890UCBA0000107
ColabaUCO Bank, 62 Pipewala Building, Shahid Bhagat Singh Road, Mumbai-4000052222020562UCBA0000214
KharUCO Bank, 508 Linking Road, Khar Bandra, Mumbai- 4000502226426845UCBA0000216
MatungaUCO Bank, Lakshmi House NO.1, 84, T H Kataria Marg, Matunga, Mumbai-4000802224375029UCBA0000237
WorliUCO Bank, Century Bhawan, DR Anne Besant Road, Worli, Mumbai-4000252224383096UCBA0000265

UCO Bank Car Loan Customer Care Centre

You can get your queries resolved at a toll free number- 1800 103 0123 of UCO Bank's customer care centre. You can ask to clear any doubts that you have regarding your car loan on the helpline number. The customer care executives can help you in knowing the status of your car loan application.