Personal loans in India are used for a myriad of purposes! They can be used to plan a vacation, renovate your home, fund your dream vacation, or plan a dream wedding for yourself or a loved one. Things on your bucket list no longer need to be put off! UCO Bank offers personal loans with minimal paperwork and quick approval. Now you can make your dreams a reality with quick approval of personal loans from us!
UCO Shopper Loan Scheme is designed to make available finance for purchase of consumer durables such as TV, Refrigerator, Furniture, AC, Computers, Laptops, any other electrical and electronic gadgets etc. for individuals
Nature of Facility
Term Loan
Age
For Salaried Borrower: 21 to 60 years including repayment period Non-Salaried Borrower: 21 to 65 years including repayment period
Quantum of Loan
Maximum Loan Amount Rs.200000/- or 10 times of monthly take home pay whichever is less.
Under the scheme credit facilities are extended to borrowers against financial securities issued by Central Govt./State Govt./RBI in the form of National Savings Certificates, Kisan Vikas Patra, Govt. Securities and Relief Bonds. Loans are also available against Life Insurance Policies of Life Insurance Corporation of India and bonds/debentures issued by specific Public Financial Institutions.
Eligibility
The securities should be in the name of the borrower or any one of the joint borrowers.
The securities should be transferable and can be assigned/pledged in favor of the Bank or transferred in the name of the Bank.
Margin
Margin will be on the discounted value of the maturity proceeds (not the face value) of the financial security discounted at Base Rate.
