Avyud Finance offers Personal Loans from UCO Bank to self-employed individuals, salaried individuals/professionals, and pensioners through different schemes. UCO Bank personal loans are currently subdivided into 3 categories – UCO Cash, UCO Shopper Loan Scheme, and UCO Pensioner Scheme. These loans are offered for amounts up to Rs. 50 lakh and can be availed to purchase any consumer durables, pay medical bills, fund travel expenses, and much more.
₹
500000
36
months
10
%
Monthly EMI
₹
₹ 32,124.56
Total Interest
₹
10,622.78
Principal Amount
₹
500000
Payable Amount
₹
160,622.78
| Pay No. |
Begining Balance | EMI | Principal | Interest | Ending Balance |
|---|---|---|---|---|---|
| 1 | 150000.00 | 32124.56 | 28637.06 | 3487.50 | 121362.94 |
| 2 | 121362.94 | 32124.56 | 29302.87 | 2821.69 | 92060.07 |
| 3 | 92060.07 | 32124.56 | 29984.16 | 2140.40 | 62075.91 |
| 4 | 62075.91 | 32124.56 | 30681.30 | 1443.26 | 31394.61 |
| 5 | 31394.61 | 32124.56 | 31394.64 | 729.92 | -0.03 |
The applicant has completed a minimum of 2 years of service in the same organization and Borrowers must have Salary Account with our Branches. A personal loan calculator is available to help you figure out how much you should pay each month. You can select your tenure as well as the amount you are willing to repay each month for the duration of your choice. You can also calculate compound interest with the Personal Loan EMI Calculator and know exactly how much you need to part with—interest included.
Here is the detailed list of documents required to avail UCO Bank Personal Loan for all applicants:
UCO Bank usually takes 1-2 weeks when it comes to the Processing of Personal Loan Applications. However, UCO Bank approves the loan in just a few hours to a maximum of 1-3 days to its preapproved already existing account holders.
Ideally, a credit score above 700 should help you get a loan without any hassle. A 700+ score is considered to be good. But if you want to be in a position to negotiate the interest rate with the bank, you should aim for a score of more than 820. Anything above this is an excellent score.
Yes, an applicant can foreclose the loan after paying 6 equated monthly installments. There will be prepayment charges on the outstanding amount.
Your interest rate is one of the factors that determine what your EMI will be. The higher your rate, the more you will have to repay each month.
You can get a personal loan of Rs 50,000 – Rs 10,00,000 from UCO Bank.
Note: This content is taken from UCO BanK website
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