UCO Bank Gold Loan Interest Rate – Eligibility, Charges & EMI

Key Insights 

1. You can get low UCO Bank interest rates starting at 7.15%. Take advantage of some of the best gold loan rates, with special offers for staff and priority sectors.

2. You can pay minimal processing fees. There are no fees for loans up to ₹50,000 (priority), and fees for larger loans are capped at ₹4,000.

3. Apply easily at a branch. You can get a quick gold appraisal and fast disbursal, with no penalty if you close your loan early.

Are you looking for a fast way to get cash using your gold? Check out UCO Bank gold loan interest rates for 1 lakh. You can also use their online UCO Bank gold loan interest rate calculator to plan your loan for amounts such as ₹,00,000.

The UCO Bank gold loan interest rate is the cost you pay to get cash using your gold as security. This rate is a percentage of the loan amount, and you can choose repayment terms of up to UCO bank gold loan interest rate for 5 years. 

Checking the UCO Bank gold loan interest rate for 1 lakh loan can help you plan your budget more accurately.

I tried the UCO Bank gold loan interest rate calculator for a UCO Bank gold loan interest rate for 1 lakh. With a 9.5% annual rate over the UCO Bank gold loan interest rate for 5 year, my EMI comes to about ₹2,100. It feels like an easy and quick way to manage finances.

Key Features of Gold Loans Offered by UCO Bank

You can get quick access to cash with UCO Bank’s gold loans. Enjoy competitive rates, high loan amounts, and a simple application process.

Here is the list of the key features of the UCO Bank Gold Loan:
 

Waah, yaar! Maje aa gaya features dekh kar. But what about the interest rate?

Here is the list of the UCO Bank Gold Loan Interest Rate:
 

UCO Bank offers gold loans with interest rates starting at 7.15% and high loan-to-value ratios, making them an affordable and flexible option.

UCO Bank Gold Loan Processing Fees & Charges

You can plan your loan with confidence. When you know UCO Bank's gold loan processing fees, you can borrow with clear information and avoid any surprises.

Here is the list of the UCO Bank Gold Loan fees and charges:
 

UCO Bank keeps fees low for gold loans, with a maximum charge of ₹4,000 and no fees for smaller amounts. This makes their gold loans very affordable.

Bonus Tip: The fee is ₹5 for every thousand rupees of the loan amount. At Metro centres, the minimum fee is ₹250 and the maximum is ₹1000. At other centres, the minimum is ₹200 and the maximum is ₹500.

How to Apply for a UCO Bank Gold Loan?

You can get quick and secure access to funds. Visit your nearest UCO Bank branch to apply for a gold loan and receive fast approval.

1. Visit your nearest UCO Bank branch or Retail Loan Hub with your gold jewellery and the necessary documents.
2. Fill out the gold loan application form given by the bank.
3. A bank appraiser will check the weight and purity (18-22 carat) of your gold ornaments and subtract any non-gold parts, such as stones.
4. Submit your identity proof (such as Aadhaar, Voter ID, Passport, or Driving License) along with address proof.
5. The bank will calculate your loan amount based on the net gold weight, purity, and current gold prices, and then approve the loan.
6. You pledge your gold, and the bank will disburse the loan amount. If you are already a customer, this process is often faster.

At UCO Bank, once your documents are checked and your gold is appraised, we quickly value your gold and release your funds right away.

Conclusion

UCO Bank’s Gold Loan gives you an affordable and flexible way to borrow, with interest rates from 7.15% and processing fees up to ₹4,000. You can apply easily at a branch, get your gold valued quickly, and receive funds fast when you need them.

FAQs

What is the UCO Bank interest rate? 

UCO Bank offers a range of interest rates depending on the product. Savings accounts currently earn 2.50%. Fixed Deposits for general customers range from 2.90% to 6.90%, with higher rates for seniors and special schemes such as 'UCO 333' at 6.30%. Home Loan rates start at about 7.40%, depending on your CIBIL score, while Car Loan rates begin at around 7.70%. The MCLR is about 8.80%.

Is it possible to pay only the interest and pay the principal at the end of the term?  

Yes, you can pay only the interest for a certain period with an “interest-only” loan. During this time, your payments cover just the interest, so the amount you owe does not go down. Later, you will need to pay off the full principal, either with a large final payment or by switching to a regular loan.

What are the interest rates for various loans in India? 

Interest rates in India differ widely depending on the type of loan and the bank. Home loan rates are usually between about 7.0% and 10.75%. Personal loan rates range from around 8.75% to 24%, while gold loan rates are typically between 7.0% and 17%. 

How is a gold loan taken? Which formalities have to be completed? How is its duration and interest rate determined?  

To get a gold loan, you hand over your gold ornaments to a bank or NBFC. They will check your identity and assess your gold for purity and weight. With basic documents like ID and address proof, you can get funds quickly. The loan’s duration and interest rates depend on your plan, current gold prices, the loan amount, and the lender’s policy. These factors influence how you repay the loan, as explained in an article from ICICI Bank.

Will I be charged any penalty if I prepay the gold loan from UCO Bank?

You can prepay your UCO Bank gold loan at any time without paying any penalty charges.