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.


Particulars Details
Maximum Loan 85% of the on-road price (Ex-showroom price+Road Tax+Registration+Insurance)
Maximum Loan for Salaried Professionals 35 times of gross monthly income
Maximum Loan for Self-employed 3 times of average gross annual income for the last 2 years
Maximum Repayment Period 7 years

UCO Bank Car Loan Interest Rate 2017 

Particulars Details
Interest Rate 9.00% per annum for new cars, 10.10%-10.60% per annum for used cars
Processing Fee 1% of the total loan amount subject to a minimum of ₹ 1,500.
Prepayment Fee NIL
Margin 15% of road price of car

Eligibility Criteria

Parameters Salaried Professionals Self-employed
Age 21-70 years 21-70 years
Minimum Income Minimum net monthly income of ₹ 20,000 Minimum business income of ₹ 4 lacs-5lacs per annum
Employment/Business Continuity Not specified by the bank Not 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 Amount Loan Tenure Interest Rate EMI Total Interest Outgo Total Amount (EMI+Interest)
₹ 3,00,000 1 9% p.a. ₹ 26,235 ₹ 14,825 ₹ 3,14,825
₹ 3,00,000 2 9% p.a. ₹ 13,705 ₹ 28,930 ₹3,28,930
₹ 3,00,000 3 9% p.a. ₹ 9,540 ₹43,437 ₹ 3,43,437
₹ 3,00,000 4 9% p.a. ₹ 7,466 ₹ 58,345 ₹ 3,58,345
₹ 3,00,000 5 9% p.a. ₹ 6,228 ₹ 73,650 ₹ 3,73,650
₹ 3,00,000 6 9% p.a. ₹ 5,408 ₹ 89,352 ₹ 3,89,352
₹ 3,00,000 7 9% p.a. ₹ 4,827 ₹ 1,05,445 ₹ 4,05,445

Amortization Table


Year Principal Interest Balance 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

Proofs Salaried Professional Self-employed
Age Proof Passport 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 Passport 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 Proof PAN Card/Voter ID/Passport/Driving License, 2 passport size photographs PAN Card/Voter ID/Passport/Driving License, 2 passport size photographs
Income Proof Form 16 for last 2 years, Latest Salary Slip, 6-month bank statement IT 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 Proof Latest Telephone Bill/ Electricity Bill/Property Tax Receipt/Passport/ Voter ID Latest Telephone Bill/ Electricity Bill/Property Tax Receipt/Passport/ Voter ID
Signature Verification Proof Driving License/Passport copy/PAN Card Driving 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



Branch Address Phone Number IFSC Code
Connaught Circus UCO Bank, New Asiatic Building, Connaught Circus, New Delhi-110001 1123322189 UCBA0000009
Karol Bagh UCO Bank, 12 By 20 Arya Samaj Road, Karol Bagh, New Delhi -110005 1125722420 UCBA0000044
Subzi Mandi UCO Bank, 51000, G.T.Road, Near Clock Tower, Subzi Mandi, Delhi-110007 1123914731 UCBA0000057
Kamla Nagar UCO Bank, 119 By E Kamla Nagar, DELHI-110007 1123842802 UCBA0000063
Chawri Bazar UCO Bank, 3601, Chawri Bazar, DELHI- 110006 1123910019 UCBA0000070
Asaf Ali Road UCO Bank, Jeevan Udyog Building, Asaf Ali Road, New Delhi- 110001 1123272073 UCBA0000115
South Patel Nagar UCO Bank, 27 South Patel Nagar, New Delhi -110008 1125781605 UCBA0000117
Parliament Street UCO Bank, 5, Parliament Street, New Delhi – 110001 1123718551 UCBA0000120
Defence Colony UCO Bank, A – 7 Shopping Cum Office Complex, Defence Colony, New Delhi- 110024 1124692260 UCBA0000153
Kirti Nagar UCO Bank, B-6, Tagore Market, Najafgarh Road, Kirti Nagar, New Delhi- 110015 1125934386 UCBA0000201


Branch Address Phone Number IFSC Code
India Exchange Place India Exchange Place Branch (Post Box 2148), 2, Kolkata- 700001 3322303383 UCBA0000002
Burra Bazar UCO Bank, 1 Sambhu Mullick Lane, Kolkata-700007 3322387879 UCBA0000014
Cornwallis Street UCO Bank, 63, College Street, Kolkata-700073 3322413400 UCBA0000023
Bhowanipore UCO Bank, 10, Priyo Nath Mullick Road, Kolkata – 700025 3324751579 UCBA0000031
New Market 3 and 4, Lindesey Street, New Market, Kolkata-700016 3322499484 UCBA0000069
Ballygunge UCO Bank, 15 By 1A Gariahat Road, Kolkata-700019 3324407314 UCBA0000095
Dharamtala Street UCO Bank, 45 Lenin Sarani, Kolkata-700013 3322441066 UCBA0000149
Dumdum UCO Bank, 458 A and B Jessore Road, NGR Bazar, Dumdum, Kolkata-700028 3325296967 UCBA0000163
Jadavpur UCO Bank, 23, Raja S C Mullick Road, Kolkata-700032 3324125445 UCBA0000164
Park Circus UCO Bank, P – 64 DR. Sundri Mohan Avenue, Park Circus, Kolkata-700014 3322447021 UCBA0000178


Branch Address Phone Number IFSC Code
D.N. Road DN Road Mumbai Branch (Post Box 833), UCO Bank Buildings, D.N. Road, Mumbai- 400023 222870256 UCBA0000003
Kalbadevi Gokul Building, 66/A, DR. Atmaram Merchans Road, Bhuleshwar, Kalbadevi, Mumbai- 400002 2222068047 UCBA0000004
Ghatkopar Above Parekh Market, Mahatma Gandhi Road, Ghatkopar, Mumbai-400077 2225149606 UCBA0000006
Santa Cruz (West) UCO Bank, Karavala Lodge, Station Road, Santa Cruz West, Mumbai-400054 2226494752 UCBA0000061
Churchgate Reclamation UCO Bank, Industry House, 159 Churchgate Reclamation, Mumbai- 400020 2222025181 UCBA0000096
Abdul Rehman Street UCO Bank, 354, Abdul Rehman Street, Mumbai-400003 2223445890 UCBA0000107
Colaba UCO Bank, 62 Pipewala Building, Shahid Bhagat Singh Road, Mumbai-400005 2222020562 UCBA0000214
Khar UCO Bank, 508 Linking Road, Khar Bandra, Mumbai- 400050 2226426845 UCBA0000216
Matunga UCO Bank, Lakshmi House NO.1, 84, T H Kataria Marg, Matunga, Mumbai-400080 2224375029 UCBA0000237
Worli UCO Bank, Century Bhawan, DR Anne Besant Road, Worli, Mumbai-400025 2224383096 UCBA0000265

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.