UCO Bank Personal Loan [Interest Rate, Processing Fees, Tenure, Prepayment Charges 2022]

By | October 31, 2023

 

About UCO Bank : United Commercial Bank, shortly referred to as UCO Bank, is a popular nationalized bank in India. It was established in 1943 in the city of Kolkata, West Bengal. G.D. Birla was the one who incubated the idea of starting a commercial bank. With Birla as chairman, the bank constantly expanded itself throughout India.

In 1969, it was recognized as a nationalized bank alongside many others. In the current financial year 2020-21, UCO Bank, with nearly 94 per cent stake held by the Ministry of Finance, Government of India, reported a net profit of Rs 167 crore. The Bank is actively engaged in social objectives and wants to make a significant contribution to the fight against poverty.

Like all of its nationalized competitors, UCO Bank offers a variety of services and products to its customers, including opening savings and checking accounts. Additionally, investment options such as fixed deposits, recurring deposits and locker options are available at all branches across India.

With digitalization, the Bank has taken the necessary steps for further development. UCO Bank not only has a mobile app, but also offers digital services to its customers such as FastTag payment gateway, internet banking, cardless transactions, and BHIM UCO UPI. Debit and credit cards are available to all account holders at minimal cost.

Head office: UCO Bank has been headquartered in Kolkata since its inception. The head office is currently located at BTM Sarani, Kolkata.

Number of employees: UCO Bank employs approximately 22,012 people across its branches. Shri Atul Kumar Goel is the Managing Director and CEO and Shri Ajay Vyas and Shri Ishraq Ali Khan are the two Managing Directors. Additionally, our board of directors includes highly qualified individuals such as Ph.D. Dr. Sanjay Kumar Tuli Roy and Shri K. Rajvan Nair. 4,444 Branches and ATMs: Currently, UCO Bank has 3,078 branches and 2,564 ATMs across the country. Rapid growth by increasing the number of branches and ATMs is an important goal for the future. In addition, the bank operates two overseas branches in Singapore and Hong Kong in full swing, reflecting more than 60 years of overseas branch operations.

Rate of Interest : 10.05%- 10.45% Per Annum

Loan Amount : Up to Rs.15 lakh

Maximum Tenure : 7 Years (For State/Central Government Employees) / 5 Years (For Non Government Employees) / 4 Years (For Pensioners)

Processing Fee : 1% of loan amount (minimum Rs.750/-)

Prepayment Charges : Nil

Minimum Monthly Salary : As Per Loan amount Requirements

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