Uco Bank Two-wheeler loans
The UCO Bank is serving the finance industry since 1943. It has spread its wings all over the globe. The bank has 45 zonal offices and is headquartered in Kolkata. Be it is any financial requirement, personal, home, or two-wheeler, the bank offers you the best of loan offers. Other financial products that the bank offers include agriculture credit, debit cards, foreign currency loans, etc. Among all, the most popular services offered by Uco bank is Two-wheeler loan financing.
UCO Bank offers two-wheeler loans at interest rates starting from 10.70% p.a. and repayment tenure of 4 years. UCO Bank does not levy any prepayment charges on its bike loans as well.
Features and benefits of Uco Bank Two-wheeler loans
- The Uco Bank two-wheeler loan is available for both self-employed and salaried.
- Repayment tenure of UCO bank Two-wheeler is 48 months.
- There are no prepayment charges on Uco bank two-wheeler loans.
- Hassle-free application procedure.
- The margin is 10% of the on-road cost of the vehicle.
- A higher loan amount is provided for feature-rich two-wheelers.
Uco Bank Two-wheeler loan eligibility
| Category | Salaried | Non-Salaried Borrowers |
| Age | 21-55 Years | 21 years to 60 years |
| Income | Minimum Rs 8000 a month | Rs.1 lakh according to the Income Tax Returns for the previous year. Rs.1.5 lakh for feature-rich vehicles
|
| Credit Score | Must be having a credit score of 750, or above | Must be having a credit score of 750, or above
|
| Nationality | Must be a resident of India | Must be a resident of India
|
Here are the documents required to apply for a Uco-bank two-wheeler loan:
Documents Required
The list of documents that must be submitted by salaried and non-salaried borrowers are mentioned below:
Salaried Borrowers
- Application form
- Two passport-sized photographs
- Identity proof - Passport, Driving License, PAN Card, Ration Card, Voters ID Card, Office Identity Card, or Birth Certificate.
- Bank statement for the last 6 months.
- Income proof such as salary slips (last three months), Form 16, or Income Tax Returns.
- A quotation that has been given by an authorized dealer.
Non-Salaried Borrowers
- Application form
- Two passport-sized photographs
- Identity proof - Passport, Driving License, PAN Card, Ration Card, Voters ID Card, Office Identity Card, or Birth Certificate.
- Bank statement for the last 6 months.
- A quotation has been provided by an authorized dealer.
- Proof of business such as financial statements, statement of accounts, and trade license.
Fee and charges of Uco Bank Two-wheeler loan
The processing fee is 1% of the loan amount (minimum of Rs.500).
What are the repayment options of Uco Bank Two-wheeler loans?
The UCO Bank 2-wheeler loan EMI can be repaid in the following two ways.
Standing Instruction (SI): If you are an existing account holder with Uco Bank, stand instruction works as the best mode of repayment. Your EMI amount will be debited automatically at the end of the monthly cycle from the Uco Bank account you specify.
Electronic Clearing Service (ECS): It is one of the easiest ways to make a loan repayment. On your request, the EMIs to be debited automatically at the end of the monthly cycle from this account.
Steps to apply for UCO Bank Two-wheeler loans
- Open the UCO Bank website
- Click on the ‘Loans/Advance’ option under the ‘Personal Banking’ section.
- Next, click on the ‘Vehicle Loan’ section.
- Select the ‘Apply Here’ button.
- A page will appear for you to fill up all the details.
- Agree to the terms and conditions and click on ‘Generate OTP’.
- Enter the OTP and submit the details.
- A UCO Bank executive will contact you to process the request.
