Looking to buy or build your dream home? UCO Bank Home Loan Subsidy under PMAY makes housing affordable with lower EMIs and interest subsidies. Check eligibility, benefits, and apply online today.
Introduction
Owning a home is a dream for many families in India. To support this, the government launched Pradhan Mantri Awas Yojana (PMAY), which provides home loan interest subsidies through various banks. UCO Bank, a trusted public sector bank, participates in this scheme to help customers purchase or construct their homes at affordable costs.
If you are planning to take a UCO Bank home loan, you can also enjoy the UCO Bank Home Loan Subsidy benefits under PMAY. Let’s explore the details.
What is UCO Bank Home Loan Subsidy?
The UCO Bank Home Loan Subsidy is offered under PMAY-CLSS (Credit Linked Subsidy Scheme). Borrowers can get an interest subsidy up to 6.5% depending on their income category, which reduces the EMI burden and makes housing affordable.
Key Features of UCO Bank Home Loan Subsidy
-
✅ Subsidy up to ₹2.67 lakh on interest amount.
-
✅ Applicable for purchase, construction, or improvement of house.
-
✅ Maximum tenure considered for subsidy: 20 years.
-
✅ Available for EWS (Economically Weaker Section), LIG (Low Income Group), and MIG (Middle Income Group) categories.
-
✅ Direct subsidy credited to loan account, reducing outstanding principal.
Eligibility Criteria for UCO Bank Home Loan Subsidy
To avail the subsidy, applicants must fulfill these conditions:
-
Applicant should not own a pucca house in his/her name or family’s name.
-
Family income should fall under EWS, LIG, or MIG categories:
-
EWS: Up to ₹3 lakh annual income
-
LIG: ₹3–6 lakh annual income
-
MIG-I: ₹6–12 lakh annual income
-
MIG-II: ₹12–18 lakh annual income
-
-
The house should be located in statutory towns or notified areas.
-
The property must be in the name of female head of household or jointly owned with female member (mandatory in EWS & LIG).
Documents Required for UCO Bank Home Loan Subsidy
-
Aadhaar Card, PAN Card, Voter ID (Identity Proof)
-
Income proof (Salary slip/ITR/Bank statements)
-
Property documents (Sale deed, Approved plan, Agreement to sale)
-
Self-declaration form (for not owning a pucca house)
How to Apply for UCO Bank Home Loan Subsidy?
-
Apply for Home Loan: Visit UCO Bank’s official website or nearest branch.
-
Submit Documents: Provide KYC, income proof, and property documents.
-
Bank Verification: UCO Bank verifies eligibility under PMAY.
-
Subsidy Claim: If eligible, subsidy request is forwarded to NHB (National Housing Bank) or HUDCO.
-
Subsidy Credit: Once approved, subsidy is credited directly to your loan account.
Benefits of UCO Bank Home Loan Subsidy
-
🏡 Lower EMI and interest burden.
-
🏡 Encourages affordable housing for all.
-
🏡 Suitable for salaried, self-employed, and first-time home buyers.
-
🏡 Easy processing through UCO Bank’s nationwide branches.
FAQs on UCO Bank Home Loan Subsidy
Q1. How much subsidy can I get on a UCO Bank home loan?
👉 Eligible borrowers can get subsidy up to ₹2.67 lakh depending on income category.
Q2. Can existing UCO Bank home loan borrowers apply for subsidy?
👉 Yes, if loan is sanctioned after June 2015 and borrower meets PMAY conditions.
Q3. What is the maximum home loan amount under subsidy?
👉 Subsidy is applicable up to ₹6 lakh for EWS/LIG and higher amounts for MIG categories (subsidy limited to a certain loan portion).
Conclusion
The UCO Bank Home Loan Subsidy under PMAY is a golden opportunity for families to buy or build their dream home with lower financial stress. With attractive subsidy benefits, reduced EMIs, and simple documentation, UCO Bank makes housing finance easier and more affordable.
👉 Visit UCO Bank official website or your nearest branch to apply today.
Related
Ujjivan Business Loan – Interest Rates, Eligibility, and Application
UCO Bank Property Loan – Features, Interest Rates & Eligibility
Bank Loan for 1 MW Solar Power Plant in India – Eligibility, Subsidy & Apply