Founded in 1943, UCO Bank is a commercial bank and a Government of India Undertaking. Its Board of Directors consists of government representatives from the Government of India and Reserve Bank of India as well as eminent professionals like accountants, management experts, economists, businessmen, etc.

Our Vision Statement

To emerge as the most trusted, admired and sought-after world class financial institution and to be the most preferred destination for every customer and investor and a place of pride for its employees.

Our Mission Statement

To be a Top-class Bank to achieve sustained growth of business and profitability, fulfilling socio-economic obligations, excellence in customer service; through upgradation of skills of staff and their effective participation making use of state-of-the-art technology.

Global banking has changed rapidly and UCO Bank has worked hard to adapt to these changes. The Bank looks forward to the future with excitement and a commitment to bring greater benefits to you.

UCO Bank, with years of dedicated service to the Nation through active financial participation in all segments of the economy – Agriculture, Industry, Trade & Commerce, Service Sector, Infrastructure Sector etc., is keeping pace with the changing environment. With a countrywide network of more than 2500 service units which includes specialised and computerised branches in India and overseas, UCO Bank has marched into the 21st Century matched with dynamism and growth.

This is an easy finance scheme for purchase of a new car as well as second hand vehicle not older than 5 years.

Target Group

  1. Salaried Group
  • Regular Employee with minimum 6 months completed service.
  • Established professionals & Self Employed, Businessmen
  • Farmers and Agriculturists.
  1. Non-salaried Group
  1. Business Concerns (Corporates & Non Corporates)
  2. Ex-staff and Pensioners
  3. NRIs

Income Criteria

  1. Salaried Group
  • Minimum monthly take-home pay would be Rs.10000/- after all statutory deductions and existing loans liabilities + EMI of the proposed loan.
  • Maximum loan limit 36 times of Gross Monthly Income.
  • Minimum income should be Rs.2.40 lacs per annum during the preceding year.
  • Maximum loan limit three times of average gross annual income for the last 2 years.
  • Minimum Gross Income of Rs. 2.40 lacs p.a. during the previous financial year.
  • Farmers having land holding in their own name.
  • Maximum loan limit: Three times of Annual Income of the previous financial year.
  1. Non-salaried Borrower
  1. Farmers & Agriculturists

* Clubbing of income of spouse, major children for ascertainment of loan limit is considered on merits.
* Likewise clubbing of income of regular earning parents is allowed for loan to major children.

  1. Business Concerns (Corporates & Non Corporates)
  • Business concern must be in profit for last 2 years and cash flow during the currency of loan must be sufficient enough to repay the proposed loan after satisfying all existing liabilities if any.


  • Minimum age 21 years & No maximum age stipulation

Margin Requirements

  • 15% for new vehicle
  • 30% for used vehicle upto 4 years old & 40% for used vehicle of more than 4 years old but upto 5 years old

Quantum of loan

  • For New Car:
    • Maximum finance would be 85% of the on Road price i.e. Ex Show Room Price + Cost of Registration +Insurance + One time Road Tax with no ceiling on maximum loan amount.
    • For Pre-used Car:
      • Maximum loan amount Rs.3.50 lac


  • New Car: Maximum 84 EMI
  • Pre-used Car: Maximum 36 EMI

Click here for Interest Rates

For purchase of New Car having repayment period upto 7 years



For purchase of Second Hand Car



  • New Car :- Base rate + 0.25%
  • Pre-Used cars :- Base rate + 4%

Processing Charge

1% of the loan amount maximum Rs.1500/-

Prepayment Charges : NIL

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