Building a home of your own is everybody’s dream.
Owning a house is one of the biggest things, which most of us
would achieve in life and hence it brings a sense of achievement. But it requires lots of planning from its designing to
its interiors. Apart from the planning, another significant thing which is
required for the construction of a house is cash. But with the
skyrocketing prices of the properties it is not possible for everyone to
buy a house. In such situation, opting for home loan to construct or buy own
dream home is the best way.
In the market a host of the banks and financial institutes are
present which caters the home loan to the individuals at attractive rates.
Among which United Commercial Bank offer home loan at reasonable rates for
flexible tenure.
About UCO bank
UCO Bank, formerly known as United Commercial
Bank, established in the year 1943 and head office in Kolkata, is one of the
oldest commercial bank of the country. The bank provides a gamut of banking and
financial services while fulfilling its larger goal of socio-economic growth of
the nation. The bank offers Core Banking Solutions to both Indian and foreign
customers through its 45 zonal offices and overseas presence spread across the
length and breadth of the country.
UCO Bank home loans
Home loan from UCO bank comes with the flexible interest rates
ranges from 8.65% to 8.90%, with special discounted rates for specific category
of borrowers such as ladies borrowers; the bank offers the lowest interest rate
of 8.65% for the women borrowers. The bank issues loans under reducing balance
method, i.e. the interest is charged only on the outstanding loan amount and
not on the amount which is already repaid. One can avail up to Rs. 10 crores from
the bank for the flexible tenure of maximum 30 year. UCO Bank home loan offers certain insurance scheme namely UCO Griha Raksha Yojana, UCO Griha Raksha Plus, UCO Griha Jeevan
Suraksha, in order to protect the applicant’s property from
damages or the applicant’s family from the burden of EMI (Equated Monthly
Installments) payments.
Eligibility Criteria
To avail the home loan from UCO
Bank, you need to first satisfy the following eligibility criteria-
- The individual can be an Indian citizen or an NRI.
- Individuals should be over 21 years of age and 70 and below at the time of loan maturity.
- Individuals must have regular income and also good credit score.
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