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STP Vehicle Loan

STP Vehicle Loan

Contact us Nodal Grievance Officer Lodge Complaint Sachet Portal
S. No. Parameter Guidelines for Pre Qualified Vehicle Loan
1 Purpose For purchase of new Two wheeler/Car for personal use.
2 Eligibility Criteria Selected UCO Bank savings account customers fulfilling predefined criteria.
3 Income Criteria Salaried Group:
Minimum monthly take-home pay: ₹20,000 after statutory deductions and existing liabilities + EMI of proposed loan.

Non-salaried:
Minimum income (as per ITR): ₹5.00 Lakh p.a. (Metro) / ₹4.00 Lakh p.a. (Other centres).
4 Nature of Facility Term Loan
6 Loan Eligibility Lowest of:
1. 90% of on-road price of vehicle*.
2. Loan eligibility as per FOIR norms (minimum 40% net monthly income after EMIs).
3. Maximum loan amount as per scheme.
4. Requested loan amount.

Obligations: As fetched from CIBIL.
*On-Road Price = Ex-showroom + Registration + One-time Road Tax + Insurance.
7 Minimum & Maximum Loan Amount Minimum: ₹1,00,000. Maximum: ₹20,00,000 (₹10 lakh for New-to-Credit customers where applicable).
9 Credit Score Requirement Minimum CIBIL Score of 700. New-to-Credit (-1, 0) customers may be eligible per scheme. Accounts should not be SMA-1/SMA-2 or have NPA in last 12 months; no restructured/written-off accounts.
10 Margin 10% of On-Road price of the vehicle.
11 Cooling off / Look-up period 3 days from the date of sanction/disbursement.
12 Rate of Interest See ROI tables below (separate cards for EV and non-EV).
OTHER THAN ELECTRIC VEHICLE

OTHER THAN ELECTRIC VEHICLE

UCO FLOAT

SPREAD

STRATEGIC DISCOUNT

EFFECTIVE ROI

FOR CIBIL>= 825

8.05

0

-0.6

7.45

>=800 AND <=824

8.05

0.2

-0.6

7.65

750<=CIBIL<=799

8.05

0.3

-0.6

7.75

FOR 726<=CIBIL<=749

        

i) CATEGORY A

8.05

0.55

-0.6

8

ii)category b

8.05

0.65

-0.6

8.1

iii)other than category a and b

8.05

0.75

-0.6

8.2

FOR 700<=CIBIL<=725

        

i) CATEGORY A

8.05

0.85

-0.6

8.3

ii)category b

8.05

0.95

-0.6

8.4

iii)other than category a and b

8.05

1.05

-0.6

8.5

FOR CIBIL 0 -1 <300

        

i) CATEGORY A

8.05

0.1

0

8.15

ii)category b

8.05

0.35

0

8.4

iii)other than category a and b

8.05

0.45

0

8.5

For CIBIL 650 5 CIBIL <699

8.05

1

0

9.05

For CIBIL 600 < CIBIL <649 (maintaining salary account with us)

8.05

1.95

0

10

Rol on Car Loan PQVL Is applicable only for CIBIL 700 and above, -1, 0, and below 300

        
ELECTRIC VEHICLE

INDIVIDUALS WITH CIBIL SCORE

UCO FLOAT

SPREAD

STRATEGIC DISCOUNT

EFFECTIVE ROI

FOR CIBIL>= 825

8.05

0

-0.7

7.35

>=800 AND <=824

8.05

0.2

-0.7

7.55

750<=CIBIL<=799

8.05

0.3

-0.7

7.65

FOR 726<=CIBIL<=749

 

 

 

 

i) CATEGORY A

8.05

0.55

-0.7

7.9

ii)category b

8.05

0.65

-0.7

8

iii)other than category a and b

8.05

0.75

-0.7

8.1

FOR 700<=CIBIL<=725

 

 

 

 

i) CATEGORY A

8.05

0.85

-0.7

8.2

ii)category b

8.05

0.95

-0.7

8.3

iii)other than category a and b

8.05

1.05

-0.7

8.4

FOR CIBIL 0 -1 <300

 

 

 

 

i) CATEGORY A

8.05

0

0

8.05

ii)category b

8.05

0.25

0

8.3

iii)other than category a and b

8.05

0.35

0

8.4

For CIBIL 650 5 CIBIL <699

8.05

0.9

0

8.95

Rol on Car Loan PQVL Is applicable only for CIBIL 700 and above, -1, 0, and below 300

 

 

 

 

 
13 Repayment Minimum: 6 months; Maximum: 84 months.
Moratorium: Nil.
Repayment to start from the month of disbursement of the loan.
14 Security Hypothecation of Vehicle.
15 CIBIL Charges Actual i.e. ₹150 + GST (to be recovered upfront).
16 Documentation / Processing Charges Documentation: Nil (if applicable). Processing fee per scheme; where applicable: ₹250 per lakh (capped at ₹25,000) and/or 0.50% of sanctioned amount (capped at ₹5,000) + GST.
17 Prepayment Charges NIL

Salient Features Of STP Car Loan for Eligible Customers

S. No. Parameter Guidelines for STP Car Loan
1 Purpose For purchase of new four-wheeler for personal use.
2 Eligibility Criteria A. Salaried Class:
  • Confirmed employee in reputed private/public organisations or Govt/PSU.
  • Salary credited regularly in each of the past 6 months.
  • Minimum net annual income: ₹5 Lakh (Metro), ₹4 Lakh (Other centres).
B. Non-Salaried Class:
  • Established professionals, self-employed, businessmen, farmers.
  • Minimum net annual income: ₹5 Lakh (Metro), ₹4 Lakh (Other centres).
3 Income Criteria Salaried: Minimum monthly take-home ₹20,000 after deductions and existing liabilities + EMI of proposed loan. Non-salaried: As per ITR assessment.
4 Age Criteria Age between 21–70 years (including repayment period).
5 Nature of Facility Term Loan
6 Loan Eligibility Lowest of:
1. 90% of on-road price*.
2. FOIR-based calculation (see internal table below).
3. Maximum scheme limit.
4. Requested amount.
*On-Road = Ex-showroom + Registration + Road Tax + Insurance
Income Slab Minimum Monthly Net Take Home Pay
GMI up to ₹50,000 40% of GMI (Subject to minimum ₹20,000)
GMI above ₹50,000 30% of GMI (Subject to minimum ₹20,000)
7 Clubbing of Income Income of spouse/father/mother/son(s)/daughter(s)/brother/sister can be clubbed subject to availability throughout tenure.
8 Minimum & Maximum Loan Amount Minimum: ₹1 Lakh. Maximum: Need-based.
9 Credit Score Requirement Minimum CIBIL Score 700. New-to-Credit (-1/0) may be eligible. Live accounts with NPA/SMA issues to be excluded as per filters.
10 Margin 10% of on-road price.
11 Cooling off/Look-up 3 days from date of sanction/disbursement.
12 Rate of Interest See ROI tables below (separate cards for EV and non-EV).
OTHER THAN ELECTRIC VEHICLE

OTHER THAN ELECTRIC VEHICLE

UCO FLOAT

SPREAD

STRATEGIC DISCOUNT

EFFECTIVE ROI

FOR CIBIL>= 825

8.05

0

-0.6

7.45

>=800 AND <=824

8.05

0.2

-0.6

7.65

750<=CIBIL<=799

8.05

0.3

-0.6

7.75

FOR 726<=CIBIL<=749

        

i) CATEGORY A

8.05

0.55

-0.6

8

ii)category b

8.05

0.65

-0.6

8.1

iii)other than category a and b

8.05

0.75

-0.6

8.2

FOR 700<=CIBIL<=725

        

i) CATEGORY A

8.05

0.85

-0.6

8.3

ii)category b

8.05

0.95

-0.6

8.4

iii)other than category a and b

8.05

1.05

-0.6

8.5

FOR CIBIL 0 -1 <300

        

i) CATEGORY A

8.05

0.1

0

8.15

ii)category b

8.05

0.35

0

8.4

iii)other than category a and b

8.05

0.45

0

8.5

For CIBIL 650 5 CIBIL <699

8.05

1

0

9.05

For CIBIL 600 < CIBIL <649 (maintaining salary account with us)

8.05

1.95

0

10

Rol on Car Loan PQVL Is applicable only for CIBIL 700 and above, -1, 0, and below 300

        
ELECTRIC VEHICLE

INDIVIDUALS WITH CIBIL SCORE

UCO FLOAT

SPREAD

STRATEGIC DISCOUNT

EFFECTIVE ROI

FOR CIBIL>= 825

8.05

0

-0.7

7.35

>=800 AND <=824

8.05

0.2

-0.7

7.55

750<=CIBIL<=799

8.05

0.3

-0.7

7.65

FOR 726<=CIBIL<=749

 

 

 

 

i) CATEGORY A

8.05

0.55

-0.7

7.9

ii)category b

8.05

0.65

-0.7

8

iii)other than category a and b

8.05

0.75

-0.7

8.1

FOR 700<=CIBIL<=725

 

 

 

 

i) CATEGORY A

8.05

0.85

-0.7

8.2

ii)category b

8.05

0.95

-0.7

8.3

iii)other than category a and b

8.05

1.05

-0.7

8.4

FOR CIBIL 0 -1 <300

 

 

 

 

i) CATEGORY A

8.05

0

0

8.05

ii)category b

8.05

0.25

0

8.3

iii)other than category a and b

8.05

0.35

0

8.4

For CIBIL 650 5 CIBIL <699

8.05

0.9

0

8.95

Rol on Car Loan PQVL Is applicable only for CIBIL 700 and above, -1, 0, and below 300

 

 

 

 
13 Repayment Minimum: 6 months; Maximum: 84 months. Moratorium: Nil. EMI from month of disbursement.
14 Security Hypothecation of Vehicle
15 CIBIL Charges ₹150 + GST
16 Documentation/Processing Charges Documentation: ₹250 per lakh (capped at ₹25,000). Processing fee: 0.50% of sanctioned amount (capped at ₹5,000) + GST where applicable.
17 Prepayment Charges NIL
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Last Updated On : 05/01/2026