UCO Bank Car Loans

Find details of uco bank car loan through UCO Bank EMI calculator. Just enter the loan amount of car you want to get financed and rate of interest. UCO Bank EMI calculator automatically calculates the installment on reducing balance and it does not have any other processing fee.

Also see :   Car Loan Emi Calculator
UCO Bank
UCO Bank

New Car Loan Rates

Tenure3 Years
Down Payment0.15
Processing Fee1% of the loan amount max Rs.1500
Interest Rate9.00
Document Charges
UCO Bank avails you with host of services and facilities online with which you can get car loan approval in an easier way. The customers who are dreamt of owning their desired car will turn their dream into reality via the golden opportunity provided by UCO Bank. The eligibility criteria set by the bank that any individual having minimum gross income of Rs. 1.00 lakh per annum erases the hindrance that only silver-spooned can purchase the latest available cars. The bank even churns out the repaying capacity of an individual who had applied for loan by extending the tenure up to 8 years for new car while it is 5 years for used cars. Vicky. in proves to be the powerful tool through the provision of accurate information on processing fee, documentation charges, EMI amount of such banks

Loan Eligibility Calculator

UCO Bank Car Loan eligibility, Interest Rate, documents and process

    1. Salaried Group
      • Regular Employee with minimum 6 months completed service.
    2. Non-salaried Group
      • Established professionals & Self Employed, Businessmen
      • Farmers and Agriculturists.
    3. Business Concerns (Corporates & Non Corporates)
  1. Ex-staff and Pensioners
  2. NRIs

Income Criteria

  1. Salaried Group
    • Minimum monthly take-home pay would be Rs.20000/- at all centres after all statutory deductions and existing loans liabilities + EMI of the proposed loan.
    • Maximum loan limit 36 times of Gross Monthly Income.
  2. Non-salaried Borrower
    • Minimum Income criteria for Professionals & Self-employed Businessman would be Rs 5. 00 lac p.a in Metro Centres and Rs 4.00 Lacs p.a in other centres as per ITR/ Assessment of ITR during the preceding year.
    • Maximum loan limit three times of average gross annual income for the last 2 years.
  3. Farmers & Agriculturists
    • Minimum Gross Income of Rs. 4.00 lacs p.a. during the previous financial year.
    • Farmers having land holding in their own name.
    • Maximum loan limit: Three times of Annual Income of the previous financial year.

      Clubbing of income of spouse, major children for ascertainment of loan limit is considered on merits. * Likewise clubbing of income of regular earning parents is allowed for loan to major children.

      1. Business Concerns (Corporates & Non Corporates)
        • Business concern must be in profit for last 2 years and cash flow during the currency of loan must be sufficient enough to repay the proposed loan after satisfying all existing liabilities if any. Age
          • Minimum age 21 years & No maximum age stipulation
          Margin Requirements
          • 15% for new vehicle
          • 30% for used vehicle upto 4 years old & 40% for used vehicle of more than 4 years old but upto 5 years old
          • UCO Rin Jeevan Suraksha to cover the outstanding loan in case of accidental or natural death of borrower
          Quantum of loan
          • For New Car:
            • Maximum finance would be 85% of the on Road price i.e. Ex Show Room Price + Cost of Registration +Insurance + One time Road Tax with no ceiling on maximum loan amount.
          • New Car: Maximum 84 EMI
          • Pre-used Car: Maximum 36 EMI
            Processing Charge 1% of the loan amount maximum Rs.1500/- Prepayment Charges : NIL