UCO Bank Home Loan Customer Care

UCO Bank home loan customer care

UCO Bank has a comprehensive customer care team to provide satisfactory resolutions to enquiries. They offer multiple channels of communication. This is a Government owned bank which has maintained multiple communication channels and centralized contact centres. They are equipped with the best of technology. There is a dedicated team which caters to home loan queries. They are trained in such a manner that they are able to satisfactorily address the queries related to home loans. UCO bank customer care team can be reached by any of the following modes –

Telephone – The team can be reached via phone during regular business hours. There are mobile and landline numbers available. The customer will be re-directed to a dedicated representative who will assist the customer with the query, the representative will also be equipped to assist with home loan application or sanction and any other home loan product related information. The toll-free number which can be used to reach the home loan customer care department is 1800 274 0123.

Email – Email is another effective mode of communication; this mode is documented and can be used for future reference as well. The email at which one can write to the customer care team is - customercare(dot)calcutta(at)ucobank(dot)co(dot)in.

Branch or zonal office – Another alternate, which is often not used by many people is to walk into the nearest location. The customer or non-customer can walk into the nearest office and reach out to the customer care executive. They will be able to dedicate a representative to resolve the queries of the customer.

Grievance redressal and complaint management in UCO bank

There is an online grievance or complaint registration form available. This form is applicable for existing customer only. The form captures account number, name of customer, amount, branch code, mobile number, telephone number, customer email, complaint category, complaint type, complaint sub-type, complaint details, file upload option, verification code. The form can be submitted, a reference number will be generated which can be used for tracking the status of the complaint or grievance. There is a link for tracking the complaint as well, the reference number which was generated on registration of complaint has to be entered and the status will be displayed on the screen.

Modes of complaint registration

Apart from the above, there are other modes based on which complaints can be registered, they are –

In person – Complaint can be submitted in person by the customer by submitting a letter to the branch manager or zonal officer. The written complaint will be duly accepted and written acknowledgement with the complaint reference number will be provided to the customer.

Over phone – Customer can register the complaint over phone – the phone number can be of any branch, zonal office, circle office or head office. The customer can also lodge a complaint using the Bank’s toll-free number 18002740123, this number will enable registration of complaint 24 X 7. If the response to the complaint registered via phone remains unsatisfactory, the issue may be escalated to General Manager, Strategic Planning Department, Head Office at the following contact details: Telephone: 033-4455-7970.

Via Email – customer can register complaints by e-mail hopgr(dot)Calcutta(at)ucobank(dot)co(dot)in, this email id is specifically for complaint or grievance registration. There is a separate id for enquiries. If the customer does not get a satisfactory response to the email written to the above mentioned ID then, the customer can escalate to the General Manager, Strategic Planning Department, Head Office at the following contact details: Telephone: 033-4455-7970 Fax No. 033-4455-7319; Email: hosp.cscell(at)ucobank(dot)co(dot)in.

Complaint acknowledgement generation mechanism at UCO bank

When a written complaint is lodged with the bank, the reference number for the complaint will be sent to the complainant within 3 days from the date of receipt of the complaint. If the customer registers the complaint over phone, the reference number will be provided by the help line executive immediately. Complaints which are lodged through standardized public grievances redressal system (SPGRS) a form which is available on the bank’s official website will be acknowledged by their centralized system immediately and a 20 character acknowledgement number will be provided immediately on submission of the completed form. The typical turnaround period for the grievance or complaint is 21 days from the date of receipt of such complaints.

Automatic escalation system

UCO Bank has an automatic escalation system, which ensures that the issue is duly solved within the specified time. Below is their escalation timeline to ensure that every customer’s grievance is duly addressed upto the satisfaction of the customer –

The Nodal officer will be the final level of escalation, the customer is free to contact the nodal officer if all of the above mentioned levels fail to provide the due resolution –

Principal Code Compliance Officer for Banking Codes and Standards Board of India (BCSBI) and Principal Nodal officer for grievance redressal:-

Head Office -1 2nd Floor,

10, B.T.M. Sarani

Kolkata – 700 001

Phone No: 033 44557977, 44558424

Fax: 033 44557319

E-mail: hosp(dot)cscell(at)ucobank(dot)co(dot)in

The bank is also covered under the Banking Ombudsman Scheme, 2006 of RBI, if any grievance goes unaddressed by the bank within the stipulated 30 day period, the same can be escalated to Banking Ombudsman in the particular city.

UCO bank has endeavored to provide the best service to the customer. They have tended to the customer’s queries, complaints and feedback proactively which has enabled them to sustain their market share over the long haul.

Home loans offered by UCO Bank

The housing finance scheme brings forth a wide variety of loans which will enable the customer to buy their dream home or flat. The schemes are custom made to suit the customer’s requirements. The interest is levied on a reducing balance method, this method ensures that the borrower does not have to pay interest on the loan instalments actually repaid from the date of such repayment.

Any applicant (Resident, Non-resident Indian (NRI) and Persons of Indian Origin (PIO)) is eligible to apply for home loan. The minimum age for application is 21 years and maximum age is 70 years. The maximum age is inclusive of the tenor for repayment of housing loan.

Home loans are extended to borrowers for the following purposes –

• Purchase and construction of independent house / ready-to-move in flat or independent house
• Repair or renovation or extension of existing house / flat not more than 50 years old
• Transfer of loans from other banks to UCO bank to avail benefits or longer tenure or lower interest rates etc.,
• Loan can be availed for house furnishing
• Purchase of old flat /house which is not older than 30 years

There is no upper limit for purchase of new flat / independent house, however, for repairs, extension and renovation the upper limit in urban or semi-urban areas is Rs. 25 Lakh and for rural areas the upper limit is at Rs. 7.5 Lakh. The maximum tenor for which home loan is extended is 30 years. The interest rates depend on the loan slabs and are as given below –

Rate of Interest

Apart from these features, the home loans can be pre-approved on submission of proof of income. The bank also extends top-up on existing home loan.

Processing fee and repayment of home loan with UCO bank

The processing fee of 0.5% of the loan amount is levied with minimum Rs. 1500 and maximum Rs. 15000. 100% waiver of processing charges from 01/07/2018 to 30/09/2018. There are no prepayment charges applicable for loans extended by UCO bank. The maximum tenor for which the loan is extended is 30 years, which translates to 360 equated monthly instalments (EMI), the repayment horizon should not be beyond 70 years in case of any borrower. Since, the property is the underlying mortgage in case of home loan, there is no third-party guarantee required.