UCO Bank Business Loan

The interest rate for the UCO Bank Business Loan starts from 9.50% p.a. The business loan interest rates offered by the lender for its business schemes are as follows:

Switchover Charges

UCO Contractor

Purpose: UCO Bank Contractor business loan scheme offers fund based facility to contractors/ sub-contractors in the form of overdraft and term loan, and non-fund based facility such as letter of credit and bank guarantee for their business needs.

Interest Rate:

Loan Amount :

Margin:

Credit Score:

Credit Facilities:

Security:

UCO GST Mitra

Purpose: UCO Bank offers GST Mitra business loan scheme to fund the working capital needs of GST registered MSME customers (new/existing) in the form of fund based exposure. Any individual/joint/proprietorship firm/partnership firm/pvt ltd co/limited co/trust and others are eligible for the scheme.

Interest Rate:

For up to Rs 1 crore:  UCO Float (9.30%) + 1.55% = 10.85% p.a.

Loan Amount:

Margin:

Security:

Collateral:

Cash Credit Limit:

UCO Vyapar Samridhi

Purpose: UCO Vyapar Samridhi scheme finances the new and existing business units under the MSE including retail trade.

Guarantee Coverage: Covered under CGTMSE as per the guidelines

Credit Facility: Fund Based and Non Fund based

Loan Amount:

Collateral: No collateral security required

Processing Fee:  NIL for up to Rs 5 lakh

Scheme for financing Two Wheeler under Mudra

Purpose: UCO Bank Two Wheeler under MUDRA scheme is a term loan facility offered to non-salaried individuals to finance the purchase of two wheelers under the priority sector MUDRA.

Loan Amount:  Up to Rs 1 lakh

Margin: NIL

Repayment:  Up to 5 years of EMI’s from 1 month after disbursement

Rate of Interest: UCO float rate (9.30%) + 0.55%  = 9.85% p.a.

Security:

Note that the security shall be covered under CGFMU/CGTMSE as applicable.

E-Rickshaw under Mudra Scheme

Purpose: UCO Bank E-Rickshaw under Mudra Scheme finances young aspiring individuals to become first generation entrepreneurs and also finances the existing small businesses to expand their activities.

Rate of Interest: UCO Float Rate (9.30%) + 0.55% = 9.85% p.a.

Type of Credit Facility: Term Loan

Repayment: 5 years to 7 years with moratorium of 3 months

Security:

Note that the security will be covered under CGFMU/CGTMSE as applicable.

Margin: NIL

Stand-Up India

Purpose: UCO Bank offers Stand-Up India scheme for setting up new enterprises in trading, manufacturing and services sector to at least one scheduled caste (SC)/scheduled tribe (ST)/ women borrower per branch.

Loan Amount:

Interest Rate: MCLR + 3% + tenor premium (As applicable from time to time)

Type of Credit Facility: Composite Loan (Term loan+Working capital)

Swarojgar Credit Card

Purpose:  UCO Bank Swarojgar Credit Card scheme finances small artisans, handloom weavers, service sector, rickshaw owners, fisherman, self-employed individuals, other micro-entrepreneurs etc. to provide timely and adequate loans such as working capital, block capital or both.

Loan Amount: Rs 25,000

Type of Credit Facility: Composite Loan (Term Loan/Cash Credit or both)

Validity: 5 years, to be renewed yearly

Rate of Interest: UCO Float Rate (9.30%) + 1.55% = 10.85% p.a.

Laghu Udyami Credit Card (LUCC)

Purpose: UCO Bank Laghu Udyami Credit Card business loan finances the credit requirements of retail traders, small business units, village industries, artisans, SSI, self-employed professionals and tiny sector units etc.

Loan Amount: Up to Rs 10 lakh per borrower

Rate of Interest: UCO Float Rate (9.30%) + 1.55%= 10.85% p.a.

Validity: 3 years, yearly renewal based on the last 1 year turnover

Margin:  10% of loan facility covered under Laghu Udyami Credit Card scheme

Security:

UCO Trader

Purpose: UCO Trader Business Loan Scheme finances the working capital and term loan requirements of clients engaged in retail, services sector and wholesale trading activities (excepting exports) and are willing to furnish the property as mortgage and/or other acceptable security of adequate value.

Loan Amount:

Type Credit Facility: Fund Based and Non-Fund Based

Rate of Interest:

Security:

UCO Udyog Bandhu

Purpose:  UCO Bank Udyog Bandhu Business Loan extends the credit limit to enterprises engaged in manufacturing, production, processing or preservation of service and goods that are related to economic activities.

Loan Amount:

Rate of Interest:

Note: 0.50% discount on effective rates will be charged for women borrower

Security:

UCO Bunkar Rinn Yojana

Purpose: UCO Bunkar Rinn Yojana finances handloom weavers to meet their working capital or term loan requirements in both rural and urban areas.

Interest Rate: UCO Float Rate (9.30%) + 0.40% to 1.90% p.a. = 9.70% to 11.20% p.a.

Loan Amount:

Margin: 20% of the credit limit/ project cost. Government assistance of 20% of the cost  up to Rs 10,000.

UCO Roop Sangam

Purpose: UCO Bank offers Roop Sangam Business Loan to encourage and empower women entrepreneurs having working skill and experience in the intended line of business.

Loan Amount:

Margin:

Rate of Interest:

UCO Float Rate (9.30%) + 0.55% = 9.85% p.a.

Artisans Credit Card

Purpose: UCO Bank Artisans Credit Card finances the working capital requirements of artisans involved in manufacturing and production process.

Loan Amount: Up to Rs 2 lakh

Interest Rate: UCO Float Rate (9.30%) + 1.55% = 10.85% p.a.

Type of Loan Facility: Term Loan/Cash Credit

Margin:

Prime Minister’s Employment Generation Programme (PMEGP)

Purpose: UCO Bank Prime Minister Employment Generation Programme (PMEGP) facilitates setting up of new self-employment ventures or micro enterprises or projects to generate employment in Rural and Urban areas.

Loan Amount:

Margin:

Rate of Interest:

Security:

UCO Doctor Scheme

Purpose: UCO Bank Doctor Scheme (Revised) finances the purchase of medical equipment and also the purchase/construction/alteration/addition/renovation/furnishing of clinics, nursing homes or medical centers.

Loan Amount:

Security:

Primary: Hypothecation of primary stocks and more

Collateral security:

Rate of interest:

MSME Property Loan Scheme

Purpose: UCO Bank MSME Property Loan scheme finances the existing and new borrowers including new/greenfield units to meet their business requirement. This loan scheme offers non-fund based facility in the form of letter of credit and bank guarantee and fund based facilities in the form of overdraft and term loan.

Loan amount:

Interest Rate:

Credit Facility:

Margin:

 

Security:

Repayment Tenure:

STP Shishu Mudra

Purpose: UCO Bank STP Shishu Mudra business loan is offered to meet the working capital requirements of eligible individuals of Shishu Mudra Scheme.

Loan Amount: Up to Rs 50,000

Rate of Interest: UCO float (9.30%) + 0.55% i.e  9.30% + 0.55% = 9.85% p.a.

Margin: NIL

Guarantee: NIL

Security:

Note that the security is covered under CGFMU

PM Vishwakarma

Purpose: UCO Bank offers PM Vishwakarma scheme to finance the artisans and craftspeople to upgrade their skills and purchase better and modern tools. Additionally the scheme also provides Vishwakarma’s (Artisans & Craftspeople) a platform for brand promotions and market linkage. The scheme also provides digital transactions to encourage digital empowerment of Vishwakarma.

Loan Amount:

Rate of Interest:

Repayment:

Validity – Implemented for 5 years

UCO Equipment Finance Scheme

Purpose: UCO Bank Equipment Finance Scheme offers fund based term loan facility to MSME entrepreneurs for purchasing equipment like construction equipment, dumper, earth moving equipment, bulldozer, excavator etc.

Loan Amount:

Credit Score:

Margin: At least 15%

Interest Rate: Starting from 9.60% p.a.

Security:

UCO e-VAHAN Scheme

Purpose- UCO Bank e-VAHAN Scheme finances the purchase for new electric vehicles or vehicles that are operating on energy other than fossil fuel and vehicles that can be registered under commercial vehicles.

Loan Amount: Depending on the applicant’s credit profile
Margin: Minimum 15%

Security:

Interest Rate:

UCO Start-Up Scheme

Purpose: UCO Bank Start-up Scheme finances the innovation, improvement, development of services or a scalable business model with a high potential of employment generation or wealth creation as stated in the Startup India Scheme launched by the government of India.

Loan Amount:

Credit Facility & Assessment:

Margin:

Security:

Repayment Tenure:
Maximum 10 years with moratorium of 3 years

UCO Textile Scheme

Purpose: UCO Bank Textile Scheme finances textile manufacturing activities by providing fund based loans in the form of cash credit and term loan and non-fund based loans in the form of Bank Guarantee and Letter of Credit .

Loan Amount:

Margin:

Credit Facility –

UCO Vahan Scheme

Purpose: UCO Bank Vahan Scheme finances the purchase of new vehicle(s) (LCV/MCV/HCV) that are eligible for registration under commercial vehicles.
Interest Rate:

Type of Credit Facility: Term Loan

Loan Tenure: Up to 5 years and ZLCC and above committee can allow up to 7 years including the moratorium of 3 months.

Margin: At least 15%

Security:

West Bengal Bhabishyat Credit Card (WBBCC) Scheme

Purpose: UCO Bank WBBCC scheme offers institutional finance to youth of West Bengal to meet the credit requirements. The scheme also promotes self-employment and creates employment opportunities in rural and urban areas of West Bengal.

Loan Amount:

Rate of interest: UCO Float Rate + 1.10% i.e. 9.30% + 1.10% = 10.40% p.a.

Margin:

Repayment Tenure:

Guarantee Coverage:

Pradhan Mantri Mudra Yojana (PMMY)

Purpose: Pradhan Mantri Mudra Yojana (PMMY) aims at funding the unfunded and bringing unfunded enterprises to the formal financial system and offering them affordable credit. The scheme also includes non-farm enterprises involved in manufacturing, service and trading with credit requirement of up to Rs 10 lakh for income generation.
Categories of PMMY:

SHISHU: For loan up to Rs 50,000
Kishore: For loan from Rs 50001 to Rs 5 lakh
Tarun: For loan from Rs 5,00,001 to Rs 10 lakh

UCO Merchant Credit Card (MCC) Scheme
Purpose: UCO Bank Merchant Credit Card scheme finances the eligible MSME applicants to meet their operational expenses related to business and to promote digital payments among Udyam Registration Portal (URP) or GST for registered MSME units.

Rate of Interest: As applicable for the original fund based working capital

Card Type: Rupay variant of National Payments Corporation of India (NPCI)

Margin:
No margin required, as the margin in the scheme is the sub-limit of fund based working capital limit.

Security: No security needed as it is the sub-limit of fund based working capital limit.