About the Bank
UCO Bank (United Commercial Bank) is a commercial bank and a Government of India Undertaking incorporated in the year 1943 at Kolkata. According to the Brand Trust Report 2014, the Bank ranked 294th among India’s most trusted brands. Along with banking services all over India, UCO Bank even offers loan and advances to the customers for meeting their financial requirements. One of the most acclaimed loan services offered by UCO bank is Car Loan scheme. UCO Bank offers car loan to the consumers for buying new as well as used car (not more than 5 years old).
UCO Bank Car Loans: Overview
UCO Bank has established trust amongst the individuals for offering premium banking and finance services. Car loan is one of the many financial services offered by UCO Bank. Car loan is a specially designed loan products that is coupled with new age features and benefits to help the customers meet their financial requirements for buying the car of their dreams and managing the loan without any hassles. UCO bank ensures that the car loan is easily available to wide category of salaried as well as non – salaried groups for cars of all make & models. Bank has set no cap on the maximum loan amount to be offered for buying a loan, even the UCO Bank car loan interest rate is highly competitive and you can get quick car loan disbursals. Owing to the above mentioned features, Car finance plans by UCO Bank are counted amongst the best car loans in India.
Features of the UCO Bank Car Loan:
Several highlighting features of UCO bank car loan make it much popular amidst the individuals looking to finance options for buying a car. Some of those features are:
- Car loan for both new and used cars: you can avail UCO Bank loan for a new car as well as pre-used cars. However, in case of pre used cars, they should not be more than 5 years old.
- Quantum of loan: For New Car Maximum finance offered by UCO bank is 85% of the on road price. This includes ex show room price, registration cost, one time road tax, Insurance (one time) with no ceiling on maximum loan amount. And in case of pre-owned car loan, maximum loan amount sanctioned by the UCO bank is Rs.3.50 lac.
- Additional Charges: A consumer has to pay 1% of the loan amount as processing fee for UCO bank car loan. However, there are no foreclosure charges charged by the bank.
- Repayment tenure: UCO Bank disburses car loans for a maximum of 84 months for a new car and 36 months for a used car.