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a. Age – 21 – 65 years for both salaried and non-salaried.

b. Credit Score – 650 or above

c. Employment type: Salaried and Self-employed (Business)

d. Minimum net income (monthly)

· For salaried – Rs 30,000 in Metro and Rs 20,000 for others

· For Non-salaried – Rs 4 lakh per annum under the latest ITR

e. Work Experience

· For salaried – Stable job with Payslip as proof

· For Non-salaried – Stable Income with ITR as proof

All the loan applicants are required to submit the following documents by UCO Bank:

· Duly filled and Signed Loan Application Form from UCO Bank.

· Passport Size Photographs

· Proof of Identity

· Proof of Address

· ITR for last 2 years

· Property Documents Required by Bank

· Proof of Signature Identification

Salaried loan applicants are required to submit the following documents in addition to mentioned:

· Income Pay Slip for Last 6 months

· Form 16 for the past 2 years

· Bank Statement for past few months showing salary credit and EMI Debit (if applicable)

· Documents showing Ownership of Property to be Mortgaged

· Proof of Work Experience

· Employer ID Card Copy

Non- Salaried loan applicants are required to submit the following documents in addition to mentioned:

· Proof of Business Establishment

· ITR for past 2 years

· Address Proof of the Business

· Proof of Earning and Bank Statement for past 6 months

Identity Proof

· Aadhar Card

· Pan Card

· Passport

· Driving License

· Voter ID Card

Proof of Address

· Aadhar Card

· Passport

· Driving License

· Voter ID Card

· Registered Rent Agreement

· Utility Bills of Past Few Months

Age Proof

· Aadhar Card

· Voter ID

· Passport

· Driving License

Income Proof

· Bank Statement for Past 6 Months

· Payslip for Past 6 months and Form 16 of 2 Years (Salaried)

· ITR Returns of 2 Years (Non-salaried)

The loan verification process is quite straightforward and simple, with quick loan approval if all the documents are okay:

• The borrowers can apply for the loan either through the website by filling the online form or by visiting the bank directly. After duly filling the UCO Bank Loan Against Property Form, upload it on the official website and submit all the supporting documents for verification. Sign-up on apnapaisa.com for quick processing.
• In case you plan to submit the documents offline, one of our customer care representatives will contact you within 24 hours and fix a meeting for document collection.
• The loan application, along with all the supporting documents, will be verified by the concerned authority of UCO Bank. The official might even schedule a meeting or visitation, not necessarily though.
• If everything is in order and correct, the application for the loan is approved. The loan amount will be sent to your account. You will get a duly sign loan agreement copy with all information.

The Interest Rate starts from 9.20% per annum for the Priority Sector. For the non-priority sector, the applicant interest rate is 10.20% per annum. The UCO Float Rate is 6.90%, and the UCO Bank Loan Against Property is connected to a repo rate based lending rate.