UCO bank is one of those banks which is specially planned to expand any financial assistance for a legitimate purpose to the borrower at any point in the financial crisis. It may include medical expenses, commercial liability, wedding, social obligation, etc. It offers exciting financial products to their customers. Moreover, UCO Bank with its striking personal loan schemes provides financial support for all the sectors together with small and large scale industries, agricultural and farming areas, service, infrastructure and trading sectors. .
UCO Bank looks after a person’s repayment capacity before providing them a loan and before deciding the interest rate. The bank would make sure that after paying the EMI, the user will have enough money left for the rest of the month. The bank also sees the borrower’s assets and the creditworthiness.
Banks favor giving loans to those who have a steady income. UCO Bank offers a personal loan to permanent employees, self-employed, businessmen, and pensioners. They offer a loan with minimum documentation and fast verification of the data.
UCO Bank provides outstanding interest rates for its customers and their applicants. The interest rate begins from 10.99% and goes up to 20% depending on the credit score of applicants.
Exciting offers for women applicants
With the Personal Loan designed especially for women, UCO Bank offers a unique loan scheme to women employees. It provides with plans which are suitable for working women to achieve their needs and goals. They can take a personal loan of up to Rs. 3 lakh. The process to avail this tender is straightforward – the applicant needs to cherish the bank through a call or email. A unique number is generated which the applicant needs to send via email. It is then processed simultaneously.
No collateral or Security
The applicant who wishes to seek personal loan at UCO bank does not require any collateral or security assets to apply for the loan. No other bank provides such feature to their customer. There is no demand to pledge any collateral or security up to the loan amount.
The applicant who does not wish to come down to the bank and apply for the loan can always do it online. Online application forms are available for the customers to fill it up at their home without wasting time and money.
24/7 customer service
The applicant has the advantage of efficient customer support throughout the lending procedure. They can contact the customer desk of the bank via a call or message. The user does need to visit the bank physically as all the loan paperwork can be completed online with ease.
The loan requests to be repaid in equated monthly installments or EMI’s. The Bank is flexible and easy when it comes to repayment tenure; however, the maximum time limit to entirely repay the loan is 60 months. The borrower can settle on to either increase the EMI amount or pay off the mortgage faster or lower the EMI amount. The Bank charges a little processing fee.
It’s simple to calculate the EMIs with the help of a personal loan EMI calculator online of UCO Bank. For calculating the loan, the user has to put the amount, tenure and interest rate in the calculator. Once the values are entered, the user will see the calculations of EMIs, interest and the overall liability.
