UCO Bank Gold Loan Key Features – Apply Now!
|Gold Loan Interest Rate||7.11% per annum|
|Gold Loan Per Gram||Rate Per Gram Today is ₹ 5,032
|Gold Loan Amount||Up to Rs. 1 Crore (With Income Proof)|
|Gold Loan Processing Fee||1.50% of the Principal Loan Amount|
|Gold Loan Prepayment Charges||2%+GST (Within 3 Months), 0 (After 3 months)|
|Gold Loan Repayment Tenure||3 Months to 24 Months|
|Gold Loan Repayment Scheme||Bullet Payment Scheme, Overdraft Scheme|
Why UCO Bank Gold Loan?
UCO bank helps the customer that they can meet their financial support whenever needed. In India, the majority of the people have Gold, which allows them to unleash the value of the metal and get a loan against them. Gold loan is instant and straightforward. Also, the interest rates are less in comparison to personal loan and home loans. To get the gold loan applicant need to put the gold ornaments in a bank against which bank will provide the loan. When the amount of gold loan is paid, the bank returns the gold ornaments to the applicant in the same shape.
Documents required for UCO Bank Gold Loan:
Following are the documents for the gold loan approval:
The whole process is very easy and simple. Documents required in the very simple form. You instantly get a gold loan after issuing the documents.
- Identity proof: Passport/Id card/voter card/driving license can be any one of them. Everyone easily has these documents so there is no problem with the submission.
- Residence proof: It can be aadhar card, voter card, and passport (Passport/Id card/voter card/driving license). Electricity and water bill for the last three months because these are the proofs that you are residing in that particular place.
- Aadhar card: Provided by UIDAI that contains biometric details of the customers like age date of birth and photograph of the individual.
- 2 passport size photos,
- Driving license: It is also regarded as a proof of identity and residence proof because it contains the name, date of birth and a photograph of the customer.
- A PAN Card: It is the permanent account number that is provided to the customers, and it prevents the financial frauds. So it can be an identity/residence proof. Pan card is an essential document under KYC (know your customer)
Eligibility Criteria UCO Bank Gold Loan:
Here is the list of eligibility criteria:
- Anyone can apply for a loan with them, which means that the person can be a professional, salaried, business person, a person of regular income group, etc.
- The applicant should be of at least 18 years of age.
- No minimum income of the applicant is required.
- The gold ornament should be between 18 karats to 22 karats.
- The Gold should be of the applicant or should be of his family member.
Features of UCO Bank Gold Loan:
- Quick approval – This loans can be availed without additional hassles, with minimal paperwork and documentation required.
- Competitive interest – Gold loan comes at a competitive rate of interest, making repayment light on the pocket.
- High quantum – Borrowers can avail Gold loans of different denominations, subject to their requirement and background.
- Multipurpose – UCO Gold loan can be used for any genuine purpose, ranging from education to housing to business.
- Prepayment – Borrowers can choose to prepay the UCO Gold loan without the worry of prepayment charges
The Interest Rates charged by the UCO Bank depends on several factors, including the purpose for which a loan is availed. Loans up to Rs 5 lakhs which are designed to cater to priority sector needs are charged an interest of 7%. Gold Loan for other priority sector needs include agriculture and retail, are charged at an interest rate of 10.25%. Gold loans availed for non-priority sector retail is charged an interest of 11%.
About UCO Bank Gold Loan:
United Commercial Bank (UCO) of India is one of the largest public sector banks currently operating in India. It is a commercial bank and a Government-owned bank. The bank was founded by Ghanshyam Das Birla on 6 July 1943. The bank has been ranked 1860 on the Forbes Global 2000 list. The bank has 4000 plus service units and 49 zonal offices spread all over India.
How to apply for a loan through Lendingwale?
We understand the value of your time, so here we are providing a convenient way to apply for the loan.
- You can apply for the UCO Bank Gold Loan from lendingwale.com.
- You have to fill the Gold Loan form, and you will get a call from our side automatically.
- Besides that, you may get some more concessions on the interest rates.
- Therefore there is no need to go to the bank.
- Even more, documents pick up facility from your doorstep is available.