The housing loans are today’s hot topic for availing dream home. The UCO Bank Home Loans are the ideal featured options for the customers.
UCO Bank Types of Loans
- Purchasing a new house
- Renovation or repair of the home
- Extend or expand an existing home
- New loan pays the previous loan
- Construction of a new house
- Purchase and construction & investment purposes
UCO Bank home loan interest rates Eligibility
- Indian resident with income source
- Age limit from 21 years to 65 years
- Loan Repayment period
- Senior Citizens loan
- Term Deposit
Documents for Salaried Employee:
- Employment certificate
- Copies of pay slips for last 3months
- TDS certificate
- Latest Form 16
- Bank statements
Documents for Self-employed:
- Statements for the last 2 years
- Partnership firm
- Account details for the last 3 years
- Income tax Returns
The loan amount will be decided as per loan entitlement of the customer. One can avail 85% of loan amount at a margin of 15% of the land cost. Renovation of the property will be 75% of cost of the property along with 20% of land or home cost.
One can avail loan amount up to Rs.25 Lac in rural areas. The limit is Rs.100.00 Lac in Semi-urban. Maximum amount sanctioned for renovation in rural areas is Rs. 7.50lac, and Rs. 25lac in semi-urban areas. The processing fee is up to 50% of land cost along with 30% ceiling on the cost of land and construction.
UCO Bank home loan interest rates
One can go for a loan amount of Rs. 1lac to Rs. 25crores for a period of 5 to 25 years. The UCO Bank Home Loan Interest Rate is fixed with 10.2% for tenure of 1 to 25 years. The processing fee of the document is 0.5% on the loan amount with a minimum payable amount as Rs. 10000/-. The customer should pay 0.25% of loan amount on the first stage of loan sanctioned. One can go for EMI option as it makes the customers ease while paying the premiums on monthly basis.