information about the type of personal loan offered by uco bank

As crisis occur, many people keep stressing themselves regarding handy monetary solutions in order to resolve things for better. And undoubtedly, personal loan is the most convenient financial solution one can look for when things don’t fall into the right place.

UCO bank, a major government-owned commercial bank established in 1943, is known for offering several personal loan schemes at affordable rate of interest.

UCO Bank personal loan schemes:

• UCO cash – This scheme is offered to extend financial assistance for any legitimate purpose whatsoever such as wedding arrangements, medical expenses, meeting any financial liability, social obligation, etc. Eligible applicant can avail up to Rs.10 lakh loan amount under the scheme. The rate of interest for male applicants is 11.65% (MCLR of 1 year + 3%) and 11.40% (MCLR of 1 year + 2.75%) for female applicants. 
• UCO pensioner – This is a short term loan scheme offered to pensioners who receive pension through UCO bank branch. War widows and widows withdrawing family pension through UCO’s home branch are also eligible for the personal loan scheme. Applicants can borrow up to 10 times loan amount of their monthly pension subject to maximum up to Rs.5 lakhs.
• UCO shopper loan scheme – This is an easy finance scheme for purchase of consumer durable goods such as Television, Refrigerator, Air Conditioner, Computer or any other Electrical or Electronics gadgets etc. To get the loan, minimum income criteria for salaried applicants is Rs.30000 monthly and Rs.4 lakh annual turnover in case of self-employed individuals.
• UCO Securities – This scheme is specifically designed for applicants against financial securities issued by Central/ State Government and/or RBI in the form of Kisan Vikas Patra, National Savings Certificates, Government Securities, and Relief Bonds. Applicants can also avail the UCO bank personal loan against Life Insurance Policies of Life Insurance Corporation of India and bonds/debentures issued by specific Public Institutions.

UCO Bank personal loan benefits and uses:

• Unload expensive debt – No matter how smooth balance you keep between your income and expenses, you finally end up landing into some sort of debt. Ultimately, such petty debts somehow influence your monthly budget. Thus, personal loan can come to your rescue in order to overcome from such debt traps. 
• Educate yourself – Educational expenses are touching new heights, it somehow become challenging to pursue your aspiring specialized degree from the prestigious institution. Hence, you can avail personal loan in order to pursue your aspiring educational degree without worrying about the high costs of the course.
• Get crafty – So, if you have been keeping your innovative creative ideas into the shelves because you don’t have enough equipments to go ahead with the plan. Worry not as UCO personal loan is here to rescue your aspirations of years.

To get the application form, visit https://www.applykaroo.com/loans/uco-bank-personal-loan.