United Commercial Bank Personal Loan
United Commercial Bank Personal Loan used to fund household expenses as well as purchase personal or household assets for the purpose of improving our basic living conditions and becoming financially sound. Generally, a personal loan is a loan from a bank, credit union, or online lender that you have to pay back in fixed monthly installments that last between two and seven years.
What is a UCB personal loan?
An UCB bank personal loan is usually a loan where a person borrows money for personal needs or to help the family. For example, you might use a personal loan to cover:
- Marriage expenses
- Travel cost
- Education cost
- Vehicle CNG conversion
- Medical equipment purchase
- Medical bill.
Personal loans have three general components:
- An amount borrowed (principal)
- Evidence of the debt (promissory note)
- The cost of borrowing (interest rate).
Features of the United Commercial Bank Personal Loan
- Interest rate: 9.00%
- Loan amount: 20 lac
- No hidden charges
- Equated Monthly Installment (EMI) facility
- Early settlement facility
- Tenure: Up to 5 Years
Personal Loan Fee and Charges
Loan processing Fees for General Customers: UCBL Personal Loan
- 0.50% for Loan Amount up to 50 Lac, Maximum. Tk15000
- 0.30 % for Loan Amounts above Tk. 50 Lac, Maximum Tk. 20000
- Early Settlement fee: 0.50%
- Partial settlement fee: Maximum 30% of outstanding
- Stamp Charge: At actual
- Penal Charge Arrear: 2% per annum
- Personal Guarantor Replacement Fee: Nil
- CIB Fee: BDT 100
Eligibility for the United Commercial Bank Personal Loan
- Customer Segments:
- Salaried Personnel, Self-employed Professional, Business Person, Landlord/ Landlady
- Age: Minimum 21 Years
- Applicant must have a minimum income of:
- Salaried clients: BDT 25,000
- Doctors: BDT 35,000
- Self-employed clients: BDT 40,000
- Businessmen: BDT 45,000
Check eligibility at UCBL website
Required common documents for the applicant
Common Documents for all:
- Completed KYC form and signed by the applicant
- Passport size color photograph
- National ID/ Smart Personal
- Bank Statement last six months
- Policy first-party comprehensive insurance
- Personal price quotation
- Visiting Personal
- Copy of utility bill
- e-TIN/ TIN certificate/ copy of Income Tax acknowledgment
- Personal Guarantee along with color photographs, NID, Visiting personal/Office ID/Business Personal of the personal guarantor(s).
- Other documents or information as deemed necessary
Self-employed and businessman
- Photocopy of the latest trade license
- Latest 12 months Personal or Business bank statement
- Partnership Deed (Registered/ Notarized)
- Copy of Memorandum and Articles of Association
- Copy of Certificate of Incorporation
- Latest 6(six) months Personal bank statement
- Professional Certificate
- Declared Income on personal letterhead
- Ownership Proof (i.e. Registered Deed/ Utility Bill/ Mutation Copy/ Duplicate Carbon Receipt/ Holding Tax etc.)
- Rental Agreement (Should be on Government Revenue Stamp Paper)
- Latest 6(six) months Personal bank statement.
For Salaried Individuals:
- LOI on official letterhead with proper Salary breakdown (signed by Manager Branch/Accounts/HR/Admin/Finance) or Pay slip stating Company Name
- Cash Voucher
- Office ID
- Latest 6(six) months original bank statement
Frequently Asked Questions (FAQs) on United Commercial Bank Personal Loan
Q: What is the purpose of the United Commercial Bank Personal Loan?
A: The United Commercial Bank Personal Loan serves various purposes including marriage expenses, travel costs, education expenses, vehicle CNG conversion, medical equipment purchases, and medical bills.
Q: What is the maximum loan tenure?
A: The maximum loan tenure for UCBL Personal Loan is up to 5 years.
Q: What is the interest rate for UCBL Personal Loan?
A: The interest rate for UCBL Personal Loan is 9.00%.
Q: What is the minimum income to be eligible for a Personal Loan?
A: For Salaried Individuals: BDT 25,000
For Professionals: BDT 35,000
For Landlord/Landlady: BDT 40,000
For Business Individuals: BDT 45,000
Q: What is the maximum loan amount?
A: The maximum loan amount for UCBL Personal Loan is BDT 20 lac.
Q: What is the minimum age to apply for a Personal Loan?
A: The minimum age to apply for a Personal Loan is 21 years.
Q: What is the processing fee for the Personal loan?
A: The processing fee for the Personal loan is a maximum of 0.50% as per the schedule of charges of UCBL.
Q: What is the Early Settlement Charge for a Personal loan?
A: The Early Settlement Charge for a Personal loan is 0.50% of the settled amount.
Q: What is the charge for partial prepayment of a Personal Loan?
A: The charge for partial prepayment of a Personal Loan is a minimum of 30% of the outstanding amount.
Q: How to contact with United Commercial Bank?
A: You can contact United Commercial Bank at Plot – CWS- (A)-1, Road No – 34, Gulshan Avenue, Dhaka-1212.
Phone: +88-02-55668070, +88-09610999999
Fax: +88-02-55668070-6000, +88-09610999911-5200
E-Mail: info@ucb.com.bd