UCO Car Loan Interest Rate April 2023

UCO Car Loan

The majority of people in India are increasingly viewing owning a car as a status symbol. Life seems incomplete without an automobile, don’t you think? We essentially live this fantasy every day. Still, it won’t do any good to just daydream. To purchase the automobile, you must continue to search for the best lenders and financing choices.

There are several prospects for young car loan applicants in the auto finance sector, which in India has grown to over 80,000 crores. A good example of this is the automobile loan offered by UCO Bank, a government-sponsored lender with 49 zonal offices and close to 5,000 service units spread across India. A bank with its headquarters in Kolkata has two international offices, one each in Singapore and Hong Kong, therefore its business is not just restricted to India. The Brand Trust Report places UCO Bank at number 294 among India’s most trusted brands.

UCO Bank offers loans for the purchase of passenger automobiles, sports utility vehicles, multi-utility vehicles. The 8.05% annual interest rate and no prepayment penalty are the USPs of the UCO Bank auto loan. 1% of the entire loan amount, with a minimum of 1,500, is the processing fee that the bank charges for auto loans.

Listed below is the maximum UCO Car loan availing limit for salaried as well as self employed : 

Maximum Loan 85% of the on-road price (Ex-showroom price+Road Tax+Registration+Insurance)
Salaried Professionals  35 times of gross monthly income
Self-employed 3 times of average gross annual income for the last 2 years
Maximum Repayment Period 7 years

UCO Bank Car Loan Interest Rate is 8.05% per annum for new cars, 9.45%-10.60% per annum for used cars. Whereas the processing Fee consists of 1% of the total loan amount subject to a minimum of rupees 1,500 is charged. However, no Prepayment Fee is charged and when it comes to margin then it is 15% of road price of car.

Criteria for UCO Car loan application for people between age of 21 to 70 years    

Salaried : Minimum net monthly income of Rs 20,000 per month is required.

Self Employed : Minimum business income of Rs. 4 lakh to 5 lacs per annum.

However, bank has no specified any fixed employment or business continuity for both salaried as well as self employed applicants.

Factors impacting your eligibility for a UCO Car Loan

  • Monthly Income
  • Savings
  • Age
  • Car Value
  • Car Model Type
  • Credit History
  • Employment Status for Salaried
  • Longevity in the business for self-employed
  • Category of your employer
  • Accommodation

UCO Car Loan EMI Calculator

UCO Bank Car Loan EMI Calculator

Table showing EMIs, interest on car loan of Rs. 3,00,000 from UCO Bank for different periods

Loan Amount Loan Tenure  Interest RateEMI Total Interest Outgo  Total Amount      
Rs. 3,00,00018.05% p.aRs. 26,103 Rs. 13,242Rs. 3,13,242
Rs. 3,00,00028.05% p.a  Rs. 13,575Rs. 25,801Rs.3,25,801
Rs. 3,00,00038.05% p.aRs. 9,408  Rs. 39,682Rs. 3,38,642
Rs. 3,00,00048.05% p.a  Rs. 7,331   Rs. 51,884Rs. 3,51,884
Rs. 3,00,00058.05% p.aRs. 6,090Rs. 65,406Rs. 3,65,406
Rs. 3,00,00068.05% p.a  Rs. 5,267  Rs. 79,246Rs. 3,79,246
Rs. 3,00,00078.05% p.a.   Rs. 4,683  Rs. 93,401Rs. 3,93,401

Documents Required for UCO Car Loan for both Salaried and Self employed applicant

1. Passport size Photo

2. For identify proof PAN card/ Passport/ Voter ID/ Driving License can be produced.

3. For Residence Proof one can again produce pasport/ voter ID, Electricity Bill/ Telephone Bill

4. Income Proof for salaried applicant a latest salary slip, Form 16 or ITR for past two years can be produced whereas for self employed last 2 years ITR, Profit & Loss Account Statement and Audited Balance Sheet for 2 Years, Sales Tax Certificate/Copy of Partnership/SSI Registered Certificate/Shop & Establishment Certificate can be produced.

5. Lastly a bank account statement for past 6 months is also required.

6. For signature verification proof one can attach Driving License/Passport copy/PAN Card.

Car Loan Application Form for UCO Bank

By providing the information requested on the application form, which is available at the branch or on the lender’s website, you may quickly apply for a car loan at UCO Bank. UCO Bank will send a representative to your home and any listed official addresses as soon as the application is filed. Along with the locations you provide, the representative will check the accuracy of the income information. Within a week of submitting your application, if all goes well, you should receive the financing necessary to purchase your ideal vehicle.

You may check the progress of your application for a car loan online at UCO Bank by entering the application reference number. If everything else fails, you can inquire about the status in person at the branch where you filed your application.

Uco Bank Car Loan Video

UCO Bank Branches in Select Cities


BranchAddressPhone NumberIFSC Code
Connaught CircusUCO Bank, New Asiatic Building, Connaught Circus, New Delhi-1100011123322189UCBA0000009
Karol BaghUCO Bank, 12 By 20 Arya Samaj Road, Karol Bagh, New Delhi -1100051125722420UCBA0000044
Subzi MandiUCO Bank, 51000, G.T.Road, Near Clock Tower, Subzi Mandi, Delhi-1100071123914731UCBA0000057
Kamla NagarUCO Bank, 119 By E Kamla Nagar, DELHI-1100071123842802UCBA0000063
Chawri BazarUCO Bank, 3601, Chawri Bazar, DELHI- 1100061123910019UCBA0000070
Asaf Ali RoadUCO Bank, Jeevan Udyog Building, Asaf Ali Road, New Delhi- 1100011123272073UCBA0000115
South Patel NagarUCO Bank, 27 South Patel Nagar, New Delhi -1100081125781605UCBA0000117
Parliament StreetUCO Bank, 5, Parliament Street, New Delhi – 1100011123718551UCBA0000120
Defence ColonyUCO Bank, A – 7 Shopping Cum Office Complex, Defence Colony, New Delhi- 1100241124692260UCBA0000153
Kirti NagarUCO Bank, B-6, Tagore Market, Najafgarh Road, Kirti Nagar, New Delhi- 1100151125934386UCBA0000201


BranchAddressPhone NumberIFSC Code
India Exchange PlaceIndia Exchange Place Branch (Post Box 2148), 2, Kolkata- 7000013322303383UCBA0000002
Burra BazarUCO Bank, 1 Sambhu Mullick Lane, Kolkata-7000073322387879UCBA0000014
Cornwallis StreetUCO Bank, 63, College Street, Kolkata-7000733322413400UCBA0000023
BhowaniporeUCO Bank, 10, Priyo Nath Mullick Road, Kolkata – 7000253324751579UCBA0000031
New Market3 and 4, Lindesey Street, New Market, Kolkata-7000163322499484UCBA0000069
BallygungeUCO Bank, 15 By 1A Gariahat Road, Kolkata-7000193324407314UCBA0000095
Dharamtala StreetUCO Bank, 45 Lenin Sarani, Kolkata-7000133322441066UCBA0000149
DumdumUCO Bank, 458 A and B Jessore Road, NGR Bazar, Dumdum, Kolkata-7000283325296967UCBA0000163
JadavpurUCO Bank, 23, Raja S C Mullick Road, Kolkata-7000323324125445UCBA0000164
Park CircusUCO Bank, P – 64 DR. Sundri Mohan Avenue, Park Circus, Kolkata-7000143322447021UCBA0000178


BranchAddressPhone NumberIFSC Code
D.N. RoadDN Road Mumbai Branch (Post Box 833), UCO Bank Buildings, D.N. Road, Mumbai- 400023222870256UCBA0000003
KalbadeviGokul Building, 66/A, DR. Atmaram Merchans Road, Bhuleshwar, Kalbadevi, Mumbai- 4000022222068047UCBA0000004
GhatkoparAbove Parekh Market, Mahatma Gandhi Road, Ghatkopar, Mumbai-4000772225149606UCBA0000006
Santa Cruz (West)UCO Bank, Karavala Lodge, Station Road, Santa Cruz West, Mumbai-4000542226494752UCBA0000061
Churchgate ReclamationUCO Bank, Industry House, 159 Churchgate Reclamation, Mumbai- 4000202222025181UCBA0000096
Abdul Rehman StreetUCO Bank, 354, Abdul Rehman Street, Mumbai-4000032223445890UCBA0000107
ColabaUCO Bank, 62 Pipewala Building, Shahid Bhagat Singh Road, Mumbai-4000052222020562UCBA0000214
KharUCO Bank, 508 Linking Road, Khar Bandra, Mumbai- 4000502226426845UCBA0000216
MatungaUCO Bank, Lakshmi House NO.1, 84, T H Kataria Marg, Matunga, Mumbai-4000802224375029UCBA0000237
WorliUCO Bank, Century Bhawan, DR Anne Besant Road, Worli, Mumbai-4000252224383096UCBA0000265

Customer Care Center for UCO Bank Car Loans

Toll-free number 1800 103 0123 of UCO Bank’s customer service department is where you may obtain answers to your questions. The hotline number is where you may ask any questions you may have about your auto loan. You can get assistance from the customer service representatives in determining the status of your application for a car loan.


Who can avail CAR Loan?

The loan is available to salaried or non-salaried groups such as professionals, self-employed, businessmen, farmers, agriculturists, pensioners, and business concerns.

What makes of cars does your Bank finance?

All makes of cars are financed by us.

Whether Car Loan scheme is meant for new cars only?

The UCO Car Loan scheme is designed for both new and used vehicles.

What is the maximum amount that I am eligible for?

For New Vehicles: No Ceiling on Maximum Loan Amount, however maximum finance will be limited to 85% of the on-road price.

For Pre-Used Vehicles: Least of the following three:

70% of the cost of the used vehicle up to 4 years old 60% of the cost of the used vehicle more than 4 years old but not exceeding 5 years old
Rs. 3.50 lacs maximum

What Security do I have to furnish for availing the Car Loan?

Car hypothecation.

Can I club income of my family members for calculating the eligible loan amount?

Yes, You can consider clubbing the income of your spouse and major children.

What is the repayment schedule?

A new car loan can be repaid in 84 months, while an old car loan can be repaid in 36 months.

What is EMI?

EMI stands for Equated Monthly Installments, which includes both principal and interest payments. With our EMI calculator, you can estimate your monthly payments based on the loan amount, interest rate, and repayment period.

What is the interest rate that I will be charged?

For the most recent interest rates, please refer to our website. The Bank offers floating interest rates linked to the Bank’s base rate.

How is interest calculated/ charged in my loan account?

When you make prepayments or pay off your EMIs, the interest burden is greatly reduced since it is calculated on a daily reducing balance basis.

What are the processing fees charged by the Bank?

A maximum of Rs. 1500/- can be deducted from the loan amount.

Can I repay the loan ahead of schedule? What are the prepayment charges?

Prepayment charges are not applied if you repay the loan ahead of schedule, either in part or in full.

Who has to be approached to apply for a car loan facility?

Visit the nearest UCO Bank branch or Retail Loan Hub in the city or apply online at www.ucobank.com.

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