UCO Bank Loan for Pensioners Interest Rates 2024
Uco bank Pensioners loans: Short Term loan is extended through this scheme to Pensioners who receive pension through uco bank branches.
Uco Bank pensioner loan interest rates
General Public = 11.50%
UCO Bank Staff Pensioners = 10.50%
Purpose
- For meeting medical expenses for self/spouse/dependent/children.
- Payment of mediclaim premium for self & dependents.
- Meeting marriage expenses in the family.
- Educational expenses of dependent children
- Traveling expenses.
- Repairs to house property/dwelling.
- Funeral expenses.
Quantum of loan
- Without Family Pension
- 10 times of monthly pension subject to maximum of Rs. 2,00,000/-.
-
With Family Pension
- 10 times of monthly pension subject to maximum of Rs.3,00,000/-.
Processing Charges
- Nil Processing Charges for Pensioners.
Uco Bank Pensioner Loan Interest Rates 2023
- General Public – 11.50%
- UCO Bank Staff Pensioners – 10.50%
Repayment
- Maximum 36 months of repayment period.
- Repayment should be so fixed that the loan is fully repaid before the pensioner reaches 72 years of age.
Prepayment Charge – No pre-payment charge is levied.
Guarantee
- Personal Guarantee of spouse eligible to receive family pension in the event of death of the pensioner.
- Where spouse is predeceased, personal guarantee of sons/daughters or a third party.
- In case of war widow/widows if co-borrower is not available, a third party guarantee having sufficient income
