Loan scheme for financing for Earnest Money Deposit (EMD) for booking housing plots/flats offered by various Urban/Metropolitan Development Authorities & Housing Boards.
Eligibility:
- Indian residents having regular documented source of income. Minimum 21 years of age Singly/Jointly as permitted by State Housing Boards/Urban Development Authority/Metropolitan Development Authority. The facility is to be allowed to only those applicants who fulfill all the eligibility criteria under UCO Shelter Scheme.
Amount of Loan:
- Maximum not to exceed 80% of the EMD.
Processing Charge:
- Rs. 300.00 upfront per application
Margin: 20%
Prerequisites-
- Letter of undertaking to be obtained from SHB/UDA/MDA of having noted Bank’s lien and refund the amount through UCO Bank in case of unsuccessful applicants
- In case of allotment of plot, housing loan under UCO Shelter can be availed by the applicants. In such case the loan for EMD shall be adjusted against the loan granted for purchase of land and construction of house thereon.
Repayment:
- 24 monthly installments
For more details please contact your nearest UCO Bank branch.
