uco bank home loan interest rate and charges

2 BHK or 3 BHK? Plot or Flat? Such questions keep spinning in your head when you have been planning to buy a home for quite some time for now. You have been keeping your house buying plans into shelves because today it is quite challenging to buy a property with savings alone when the real estate prices are zooming every day. However, the market is flooded with several housing finance schemes and one such is UCO bank home loan, so that all new home aspirants don’t have to wait to buy their dream property.

Basically, a home loan is a form of financial reinforcement offered by the bank in order to provide funds for the purchase or construction of a property. Even though, it has become quite easy and convenient to own a property, still the common dilemma that the consumer poses is what is the right time to make a crucial financial investment. Well, there is nothing like ‘right’ time, instead it’s when you are ready to take this crucial responsibility that comes along with buying a house.

It is important to consider the objectives of buying a house and once you are sure with the decision, you can definitely opt for UCO bank home loan that is offered at affordable rate of interest. Home buying is definitely a significant investment of one’s life and also comes with a lot of responsibilities. Thus, it makes essential to go with the right planning keeping certain factors in mind beforehand.

So, before applying for UCO housing finance, here are some factors to look after:

• CIBIL Score – CIBIL score is one of the most important factors while determining home loan eligibility of an applicant. A good CIBIL score raises chances of borrowers getting a loan at attractive rates and EMI's. Paying regular credit card bills, and not delaying other loan EMIs helps to improve CIBIL score.
• Debt-to-income ratio – This is another significant factor to consider while applying for any home loan. Debt-to-income ratio is defined as the ratio of income compared to the overall EMI amount. It is always advised to keep EMI amount less than monthly income to have convenient loan repayment process.
• Stable income – The lender considers applicant’s employment stability and regular source of income to calculate their loan eligibility. Thus, applicants with steady income have better chances of getting a UCO home loan at lower rate of interest.
• Down payment – No bank or lender provides 100% housing finance facility. Therefore, it is advisable to arrange funds for making down payment as UCO bank offers up to 80% finance facility. 

To check your eligibility for the loan, visit https://www.applykaroo.com/loans/uco-bank-home-loans.