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STP Home Loan
STP Home Loan
STP Home Loan
UCO Bank is offering Home loan instantly at your convenience on 24*7 basis in just few clicks through STP. Our STP Home Loans offers a quick in principle sanction when you’re planning to purchase Individual House/Flat/ Furnishing/ Renovation/Takeover/Plot and Construction thereon at customer ease, It ensures a seamless experience with real time eligibility and hassle free complete sanction and disbursement at branch level of customer’s in-principle sanctioned application.
Presently, this loan is being offered Bank’s ETB/NTB customers under STP Home Loan who are fulfilling criteria.
Customer can apply for STP Home loan with their mobile no/saving account/PAN and Aadhaar no by clicking on Start Application
KEY FACT STATEMENT (Illustration)
Particulars
Details
Purpose
Purchase/Construction/Extension/Repair/Renovation of house/flat, plot purchase + construction, takeover, and furnishing.
Eligibility Criteria
Resident Indians, NRIs, PIOs with regular income (Salaried, Self-employed, Agriculturists). Minimum age: 21 yrs; Max age at loan availment: 65 yrs; Max age at loan closure: 75 yrs.
Nature of Facility
Term Loan
Minimum & Maximum Loan Amount
No upper limit for purchase/construction/extension. Max ₹50 lakh for repair/renovation. Max ₹10 lakh (Metro/urban/Semi-urban) or ₹5 lakh (Rural) for furnishing (Non-UCO HL borrower).
Credit Score Requirement
• Minimum CIBIL Score of 650 is required. • CIBIL score of -1, 0 or insufficient credit history are also eligible. • Individuals maintaining salary account with CIBIL ≥600 are eligible. • History with live accounts that slipped to SMA-1/2/NPA in past 24 months are ineligible. • History of NPA in last 7 years → ineligible. • Restructured/written-off accounts (except COVID/Natural calamities) are ineligible.
Maximum up to 30 years including moratorium. Furnishing Loans (Non-UCO HL): Max 84 months.
Security
Equitable Mortgage of the house property financed.
Rate of Interest (Floating)
As Individuals
UCO FLOAT
STRATEGIC DISCOUNT
SPREAD
EFFECTIVE ROI
For Flome Loan (Borrowers with Cibil Score >850)
8.05
0.05
-0.95
7.15
For Home Loan (Borrowers with Cibil Score >825 and <849
8.05
0.15
-0.95
7.25
For Home Loon (Borrowers with Cibil Score >800 and <824
8.05
0.25
-0.95
7.35
For Flome Loan (Borrowers with Cibil Score 5750 and^ 799
8.05
0.45
-0.95
7.55
For Fiome Loan (Borrowers with Cibil Score>700 and< 749)
8.05
0.75
-0.95
7.85
For Home Loan (Borrowers with Cibil Score 0-1 or <300
8.05
0.3
0
8.35
For Flome Loan (Borrowers with Cibil Score >650 and <699)
8.05
0.8
8.85
For Fiome Loan (Borrowers with Cibil Score >600 and <649)
8.05
1.2
9.25
Addl. Concession Takeover 0.10%
0
Addl. Concession Takeover 0.10% can be permitted by sanctioning authority for takeover of existing home loan from other bank/FI. However applicable interest rate cant be below than UCO FLOAT RATE +0.05% - Strategic discount i.e 8.30 +0.05-0.95=7.15% p.a
Addl. Concession Women Borrower 0.05%can be permitted by sanctioning authority when property is owned by woman (Signly or Jointly) . However applicable interest rate cant be below than UCO FLOAT RATE +0.05% - Strategic discount -additional concession i.e 8.30 +0.05-0.95-0.05=7.10% p.a
Documentation
Manual/NeSL
CIBIL Charges
Rs.150/- + GST for each
Documentation & Processing
Processing: 0.50% of loan amount (Min ₹1500, Max ₹15,000) — Presently waived. Documentation: Nil
Point of Contact
For any query, please contact Base Branch. Customer Care: 18001030123 Technical Issues: 03344559409 Email: digital.lending@ucobank.co.in
Existing as well as New to Bank customers are eligible.
Mobile number should be linked with Aadhaar and PAN, and Aadhaar should be linked.
Property to be financed should be SARFAESI compliant.
Disbursement will be done as per sanctioned terms and conditions only.
ITR should be filed for the last 3 years for Non-Salaried customers.
Status of the ETB customer’s account must be Active.
Legal/Valuation fees to be borne by the customer as per bank’s guidelines.
Repayment will be done through Auto recovery from SB account/NACH.
Loan proceeds should not be used for any speculative purposes.
In case of delay in payment of EMI by one month or more, penal interest @2% p.a. will be charged on the amount of default period, i.e., w.e.f. due date.
Please Note: Read all the terms and conditions carefully before applying. In case of wrong submission of required data, the application will be rejected.
