This housing finance scheme brings to you an excellent opportunity to have your own

house or flat. The scheme has been carefully tailored to suit your requirements. The
reasonable rate of interest that you pay will be calculated on reducing balance, i.e. you
do not have to pay interest on the loan installments actually repaid from the date of
such repayment.

Eligibility
Individual (including NRI and PIO) having minimum 21 years of age and maximum 70
years of age (all class of borrower) inclusive of repayment period.

Purpose

Purchase and construction of independent house/ready built flat for residential

purpose.

Extension/Repair/Renovation of existing house/flat not more than 50 years old.

Takeover of home loans availed from other banks/FIs.

Loan is also available for furnishing of house property.

Purchase of old house/flat not more than 30 years old.

Quantum of loan
The area-specific maximum limits for construction/purchase are as under :

Location/Centre

For Construction/ Purchase/

For Repair/
Takeover A/Cs
Extension/ Renovation

Metro/Urban/Semiurban

No upper limit

Rs.25 lac

Rural

No upper limit

Rs.7.5 lac

Loan Entitlement
Least of the Following:

i.

75% or 80% (as the case may be) of the project cost, stamp duty registration and
other documentation charges not to be included in the cost of housing property.

ii.

On

the

basis

of

monthly

income-

The total deductions existing plus the EMI of the proposed loan would be linked to
Gross Monthly Income (GMI) of the borrower as under
o

GMI upto Rs.50,000/- - 60% of GMI

GMI above Rs.50,000/- and upto Rs.1,00,000/- - 70% of GMI (subject to

minimum monthly take home pay of Rs.20,000/-)

GMI above Rs.1,00,000/- -75% of GMI (subject to minimum monthly take

home pay of Rs.30,000/-)

Processing Fee
0.5% of the loan amount, minimum Rs.1500/- & maximum Rs. 15000/Click here for rate of Interest :

Repayment
The maximum period of repayment is 30 years/360 EMI but should not be beyond 70
years in case of all class of borrower.

Security & Guarantee

EMTD of property financed.

No third party guarantee

Prepayment charge
NIL

Tax Benefits
Tax relief on principal and interest components of this loan would be available as per
provisions prevailing under Income Tax Act.

Insurance

Insurance cover on House Property under UCO Griha Raksha Yojana Scheme
to cover the risk of damage to home by natural calamities

Critical illness cover for Home Loan borrowers UCO Griha Raksha Plus to
cover the outstanding loan in case of (a) death/permanent total disability arising out
of an accident and (b) being diagnosed for contracting any of the listed critical
illness

UCO Griha Jeevan Suraksha to cover the outstanding loan in case of

accidental or natural death of borrower
For more details, please contact your nearest UCO Bank branch.
- Click here for FAQ

- List of approved Projects/Builders tie-ups