Please Note: UCO Bank is not a Paisabazaar partner. Offers would be from partner banks/NBFCs only.
| UCO Bank Business Loan Highlights | |
| Interest Rate | 9.50% – 13% p.a. |
| Loan Amount | As per applicants eligibility |
| Loan Tenure | Up to 15 years |
Interest Rate for 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:
| Particular | Rate of Interest |
| UCO Contractor | 9.80% – 10.00% p.a. |
| UCO GST Mitra | 10.85% p.a. |
| Scheme for financing Two Wheeler under Mudra | 9.85% p.a. |
| Stand-Up India | MCLR + 3% + tenor premium |
| Swarojgar Credit Card | 10.85% p.a. |
| Laghu Udyami Credit Card (LUCC) | 10.85% p.a. |
| UCO Trader | 10.85% p.a. onwards |
| UCO Udyog Bandhu | 9.85% – 10.85% p.a. |
| UCO Roop Sangam | 9.85% p.a. |
| Prime Minister’s Employment Generation Programme (PMEGP) | 9.85% – 10.40% p.a. |
| UCO Doctor Scheme | 10.85% – 11.85% p.a. |
| MSME Property Loan Scheme | 10.80% p.a. |
| STP Shishu mudra | 9.85% p.a. |
| PM Vishwakarma | 13% p.a. |
| UCO Equipment Finance Scheme | 9.60 % p.a. onwards |
| UCO e-VAHAN Scheme | 9.50% p.a. onwards |
| UCO Textile Scheme | 9.60 % p.a. onwards |
| UCO Vahan Scheme | 9.60 % p.a. onwards |
Fee and Charges of UCO Bank Business Loan
| Particulars | Service Charges/Commission |
| MSME Advances | Up to Rs 5 Lakh: NIL |
| Above Rs 5 Lakh & up to Rs 10 Lakh: 0.50% + GST | |
| Above Rs. 10 Lakh: 0.25% – 0.40% | |
| Adhoc Sanction | 1.50% of normal processing charges |
| Upfront fee for term loan & deferred payment guarantee | Up to Rs 25,000: NIL Above Rs 25,000: 0.75% – 1.50% |
| Review charge for Term Loan | Up to Rs 25000: NIL
Above Rs 25000: Rs 120 per lakh, up to Rs 5 lakh |
| Documentation charges | Up to 0.25% (minimum Rs 250 – maximum Rs 50,000) |
| Mortgage charges | Up to Rs 45,000 |
| Inspection charges | Up to 0.10% (minimum Rs 800 to maximum Rs 50,000) |
| Supervision charges | Rs 3100 per half year ( for accounts having aggregate limit of Rs 1 crore and above) |
| Prepayment charges on Term loan | 2% of the prepaid amount |
| Revalidation charges | Up to 50% (maximum Rs 15 lakh) |
| Issuing of NOC | Up to Rs 1.50 lakh |
| Lead bank charges | Working Capital: 0.30% p.a. (maximum Rs 75 lakh) Term Loan: 0.30% p.a. (maximum Rs 75 lakh) |
| Commitment charges Working Capital/ Term loan | Up to Rs 1 crore: NIL Above Rs 1 crore: Up to 1% |
| Ear Marking of Limits sanctioned | 1.45% p.a. |
| Loan syndication charges | 0.60%. |
| Issuance of No dues certificate | Individuals: Rs. 100 Non- Individuals: Rs. 200 |
| Project Appraisal Charges | 0.20% (maximum Rs 5 lakh) |
| TRA Agency/ ESCROW Fees | Up to Rs 5 crore: Rs 1 lakh p.a.
Above Rs 5 crore to Rs 10 crore: Rs 2 lakh Above Rs 10 crore: Rs 5 lakh Where no credit facilities have been sanctioned: Rs 2 lakh |
| Handling charges | Rs 15 per lakh (maximum Rs 1 lakh) |
| Fee underwriting assignments | 0.25% (Fee to be recovered over & above the syndication fee of 0.60%) |
| Charges for issuance of No dues certificate to clients whose NPA accounts are settled by entering into compromise | NPA a/c’s where terms of compromise are strictly adhered to: Rs.1000
NPA a/c’s where repayment is not received as per original schedule/failed compromise is revived: Rs. 2000 |
| Pre Processing Charges | NIL |
| TEV Study Vetting charges | Rs. 50,000 |
| Restructuring of Working Capital Limits | 0.25% (maximum Rs 1 Crore) |
| Parting of process note for filing with SEBI for IPO or any similar purpose | Rs 5 lakh |
For Non Fund Based Facilities:
| Particulars | Service Charges/Commission |
| Commission on Performance Guarantee | Up to Rs 25 crore: Tenure up to 3 years – 2.50% p.a. Tenure above 3 years- 2.60% p.a.Above Rs 25 crore: Tenure up to 3 years – 1.25% to 2.50% p.a. Tenure above 3 years – 1.35% to 2.60% p.a. |
| Commission on Other Guarantees | Up to Rs 25 crore: Tenure up to 3 years – 3.00% p.a. Tenure above 3 years- 3.10% p.a.Above Rs 25 crore: Tenure up to 3 years – 1.50% to 3.50% p.a. Tenure above 3 years – 1.60% to 3.60% p.a. |
| Refund of Guarantee Commission | 50% of commission charged for unexpired period of 3 months |
| Guarantee secured by 100% deposit | 100% liquid margin – 25% of normal charges At least 75% liquid margin- 50% of normal chargesAt least 50% liquid margin- 75% of normal charges Less than 50% Liquid Margin-Normal Commission |
| Expired Guarantees | SFMS Charges of Rs. 250 per message |
| Commission on amendment of Guarantee | Flat rate of Rs.1000 |
| ILC Opening Charges
|
Rs. 250 per LC & commitment + usance charges as under: A. Usance Charges: 2.40% p.a. B. Commitment Charges: 1.20% p.a. |
| Extension of Validity Period of LC | Minimum Rs. 1500 |
| Guarantees with interest liability | SFMS Charges of Rs. 250 |
| Commission on amendment of Guarantee | Flat rate of Rs. 1000 |
| ILC Opening Charges | Rs. 250 per LC & commitment + usance charges as under: a. Usance Charges: 2.40% p.a. b. Commitment Charges: 1.20% p.a. |
| Extension of Validity Period of LC | Minimum Rs.1500 |
| Increase in amount of LC | Minimum Rs.1500 |
| Other Amendments | Rs. 1000 |
| Advising of LCs opened by correspondent Bank | Rs.2000 |
| Advising of Amendments | Rs. 750 |
| Confirmation of LCs | SFMS Charges of Rs. 250 |
| Transfer Charge | Rs 1000 |
| Discrepancy Charges | Rs. 2500 |
| Acceptance Commission | 3.60% p.a. |
| Negotiation Charges
|
For bills up to Rs. 10 Lakh – Rs. 500 Flat For Bills above Rs. 10 Lakh and up to Rs. 50 Lakh – Rs. 800 For Bills above Rs. 50 Lakh and up to Rs. 100 Lakh : Rs. 1000 For Bills above Rs. 100 Lakh and up to Rs. 500 Lakh : Rs. 2000 For Bills above Rs. 500 Lakh : Rs. 3000 |
| Guarantees on account of discrepancies in documents under LC | Flat 0.30% + GST subject to minimum of Rs. 3000/-+ GST |
| Clean payment received under LC | Rs. 500 |
| Charges for issuance of certificate to beneficiary / certifying/ attestation of invoices subsequent to negotiation | Rs. 50 |
| LC secured by 100% cash margin/ term deposit of our Bank | At least 100% Liquid Margin – 25% of normal charges
At least 75% Liquid Margin- 50% of normal charges
At least 50% Liquid Margin- 75% of normal charges
Less than 50% Liquid Margin- Normal Commission |
| Revolving LC | SFMS Charges of Rs. 250 |
Switchover Charges
| Particulars | Service Charges/Commission |
| Floating Rate to Fixed Rate | 1.50% of the outstanding loan amount |
| Fixed rate to Floating Rate: | 1% of the outstanding loan amount |
Types of UCO Bank Business Loan
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:
| Particulars | Interest Rate |
| Minimum collateral is 100% or liquid collateral is minimum 91% of Sanctioned Limit | UCO Float Rate (9.30%) + 0.50% = 9.80% p.a. at present |
| For Hybrid Model of CGTMSE | UCO Float Rate (9.30%) + 1% = 10.00% p.a. at present |
Loan Amount :
- Minimum: Above Rs 10 lakh
- Maximum: Rs 10 crore
Margin:
- Term Loan: Minimum 25% ( Minimum 20% for Transport Vehicle)
- Bank Guarantee: Minimum 15%
- For Bank Guarantee against disputed liabilities: 100% Cash Margin
Credit Score:
- Minimum CIBIL score of the customer: 650
- Minimum CIBIL MSME Rank (CMR): CMR-6
- If Score/Rank not available, it would not apply
Credit Facilities:
- For Overdraft (OD): 25% of Annual Projected Turnover
- For Term Loan (TL): Maximum 50% of OD Limit or 75% of Cost of Fixed Assets, whichever is lower
- For Bank Guarantee (BG): Maximum 50% of OD Limit
- For Letter of Credit: Maximum 50% of OD Limit
Security:
- Primary: Hypothecation on entire current assets and non-current assets
- Collateral:
- 100% of limit sanctioned (FB + NFB) for SARFAESI compliant security
- 91% of limit sanctioned for Liquid Collateral
- Loans covered under the hybrid security model that is covered under CGTMSE
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:
- Minimum: Above Rs 10 lakh
- Maximum: Up to Rs 1 crore in cash credit
Margin:
- For stock: 20%
- For book debts (not exceeding 90 days): 50% for DP calculation on quarterly basis
Security:
- Primary: All stocks and book debts hypothecation along with entire currents assets and non- current assets.
Collateral:
- Minimum of 100% SARFAESI enabled Immovable property
- At Least 75% Bank approved liquid security
- Minimum 50% SARFAESI enabled Immovable property and remaining exposure shall be covered under CGTMSE Hybrid Model
Cash Credit Limit:
- Maximum 30% of sales reported in GST Returns for last 12 months
- If the GST returns are filed for less than 1 year, cash credit limit shall be arrived based on 30% of annual sales after annualizing GST returns filed for the period provided by the borrower or for minimum 6 months.
- For book debts, no cash limit will be sanctioned.
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:
- Minimum: Rs 1 lakh
- Maximum: Rs 1 crore per MSE borrower
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:
- Primary: Hypothecation of assets created out of Bank Finance
- Collateral: No collateral or third party guarantee needed.
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:
- Primary: Hypothecation of the assets created out of bank finances
- Collateral – No collateral and third party guarantee required.
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:
- Minimum: Rs 10 lakh
- Maximum: Rs 1 crore
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:
- Primary: Hypothecation of stock in trade, office equipment, machinery, receivables etc.
- Collateral: The on-going security may be retained while converting the account to LUCC account. However, an excellent track record of the borrower may be considered in its discretion to waive the collateral security taken for the advance while converting the account under Laghu Udyami Credit Card scheme.
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:
- Minimum: Rs 1 lakh
- Maximum: Rs 5 crore
Type Credit Facility: Fund Based and Non-Fund Based
Rate of Interest:
- Up to Rs 1 crore: UCO float rate (9.30%) + 1.55% = 10.85% p.a.
- Above Rs 1 crore: based on rating
Security:
- Primary: Hypothecation of book debts, stocks, & fixed assets for existing units making profit for the last 2 years.
- Collateral: Any tangible security in the form of land that is non-agricultural and building, mortgage property under the name of the partner, director, borrower, proprietor or any third party who stands as a guarantor.
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:
- Minimum: Rs 1 lakh
- Maximum: Rs 7.50 crore
Rate of Interest:
| Particular | Rate of Interest |
| Up to Rs 10 lakhs | UCO Float Rate (9.30%) + 0.55% = 9.85% p.a. |
| Above Rs 10 lakh and up to Rs 1 crore | UCO Float Rate (9.30%) + 1.55% = 10.85% p.a. |
| Above Rs 1 crore | As per internal rating for MSME loan accounts. |
Note: 0.50% discount on effective rates will be charged for women borrower
Security:
- Hypothecation of primary security.
- For loan amount up to Rs 2 crore: No collateral or third-party guarantee required with mandatory CGTMSE.
- For loan amounts above Rs 2 crore: Collateral of up to 50% of the loan amount is required.
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:
- Up to Rs 5 lakh
- Minimum loan amount for silk handloom weavers: Rs 1 lakh
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:
- Maximum: Rs 10 lakh
- Working Capital: Up to Rs 3 lakh
Margin:
- Up to Rs 50,000: NIL
- Above Rs 50,000 and up to Rs 10 lakh: 15%
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:
- For up to Rs 50,000: NIL
- For above Rs 50,000: 15%
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:
- 1st Loan:
Business/Trading/Service Sector: Up to Rs 20 lakh
Manufacturing Sector: Up to Rs 50 lakh - 2nd Loan:
Trading/ Business/ Service Sector: Up to Rs 25 lakh
Manufacturing Sector: Up to Rs 1 crore
Margin:
- In case of term loan 75% of the cost of acquisition/creation of the fixed assets.
- In case of stock and book debts a margin of 20% should be maintained. Book debts statement of up to 90 days to be obtained.
- Only 50% sanctioned limit allowed to be availed against book debts for up to 3 months.
Rate of Interest:
| Particular | Rate of Interest |
| Up to Rs 50000 | UCO Float (9.30%) + 0.55% i.e. 9.30% + 0.55% = 9.85% |
| Above Rs 50,000 and up to Rs 10 lakh | UCO Float (9.30%) + 1.10% i.e. 9.30% + 1.10% = 10.40% |
| Above Rs 10 lakh | UCO Float (9.30%) + 0.70% i.e. 9.30% + 0.70% = 10.00% |
| Concession by ZLCC | Up to 0.50%; Beyond that 0.25% by HLCAC-II |
Security:
- Primary:
- Hypothesis of total assets, both current and non-current, including fixed assets, vehicles, and machinery.
- No collateral required for up to Rs 10 lakh (Guarantee coverage under CGTMSE/CGFMU is mandatory)
- Collateral:
- Security 100% (FB+NFB) compliant with SARFAESI or 91% of the sanctioned limit (FDRs, LIC Policy, KVPs, NSCs).
- A clearly defined, delineated non-agricultural plot (that is, one that is not landlocked and has an accessible road) may be included in the property.
- For loan amount up to Rs 1 crore: Loans are covered under the CGTMSE – Hybrid program
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:
- Minimum: Rs 1 lakh
- Maximum: Rs 3 crore
Security:
Primary: Hypothecation of primary stocks and more
Collateral security:
- For up to Rs 2 core: No collateral & third party guarantee
- Covered under Credit Guarantee Scheme of CGTMSE (mandatory) and the fees are to be borne by the borrower.
Rate of interest:
- Up to Rs 25 lakh: UCO Float Rate (9.30) + 1.55% = 10.85% p.a.
- Above Rs 25 lakh to up to 1 crore: UCO Float Rate (9.30) + 2.55% = 11.85% p.a. (as applicable)
- Above Rs 1 crore: Based on internal rating
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:
- Minimum: Above Rs 10 lakh
- Maximum: Rs 15 crore
Interest Rate:
- For customer having Consumer CIBIL score of >750 and CMR-1: Rates may vary from UCO Float Rate
- For customers having Commercial CIBIL MSME Rank CMR-6: UCO Float Rate + 1.50% = 10.80% p.a.
- Strategic business discount up to 0.75% can be allowed by Zonal Office Level Credit Committee
Credit Facility:
- Overdraft
- Term Loan
- Bank Guarantee
- Letter of credit
Margin:
| Security | Margin | Relaxation |
| Mixture of Residential, Commercial and Industrial Property and Factory Premises | 40% of Realizable Value of property | Up to 5% of ZLCC |
| Commercial or Industrial Property or Factory Premises | 40% of Realizable Value of property | |
| Residential Property | 35% of realizable value of property |
- Term Loan: No separate margin needed to be brought
- Letter of Credit/Bank Guarantee: Minimum Cash margin of 25%
Security:
- Primary – Hypothecation of current assets and non current asset equipment/plant and machinery etc made out of the bank finance.
- Collateral –
- SARFAESI compliant security with Loan To Value (LTV)
- In case of Residential property: 65%
- In case of commercial/factory premises/industrial property: 60
Repayment Tenure:
- Overdraft General: 1 year (renewed annually)
- Overdraft reducing balance/ term loan:
– Minimum: 7 years
– Maximum: 15 years
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:
- Primary: Security will be charged on stock and receivable
- Collateral: NIL
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:
- 1st Tranche: Up to Rs 1 lakh
- 2nd Tranche: Up to Rs 2 lakh
Rate of Interest:
- Loan for beneficiary will be fixed ROI at 5%
- UCO float rate + 3.70% e 9.30% + 3.70% = 13% p.a.
- Interest subvention by Indian Government: Up to 8%
Repayment:
- For Loan up to Rs 1 Lakh (1st Tranche) – 18 Months
- For Loan up to Rs 2 Lakh (2nd Tranche) – 30 Months
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:
- Minimum: Above Rs 10 lakh
- Maximum: Rs 10 crore
Credit Score:
- Minimum CIBIL: 650
- Minimum CIBIL MSME Rank: 6
Margin: At least 15%
Interest Rate: Starting from 9.60% p.a.
Security:
- Primary:Hypothecation of equipment purchased out of bank finance
- Collateral-
– Loan amount above Rs 10 lakh to Rs 5 crore may be covered under CGTMSE or ‘Hybrid Security’
– Limit above Rs 5 crore: 50% of the sanctioned amount value of SARFAESI enabled security/liquid Security/combination of SARFAESI enforceable property and liquid collaterals.
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:
- Primary: Hypothecation on vehicle purchased through the bank loan
- Collateral: Above Rs 10 lakh and up to Rs 5 crore will be covered under Hybrid security product of CGTMSE
- Limit above Rs 5 crore will be sanctioned against 50% of realisable value of SARFAESI enabled liquid security(NSC,KVP,FDR and LIC)/combination of SARFAESI enforceable property and liquid collateral
- ZLCC might offer a relaxation up to maximum 20% on merit basis, whereas the minimum value after the concession will be at least 30%.
Interest Rate:
- Starting from 9.50%
- For loan up to Rs 1 crore and above ROI is linked to CIBIL Score/ Commercial CIBIL MSME Rank
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:
- Minimum: Rs 10 lakh
- Maximum: Rs 10 crore
Credit Facility & Assessment:
- Cash Credit: 25% of Annual projected turnover
- Bank Guarantee & Letter of Credit: Can be availed within the overall maximum cap under the scheme. Assessment to be done as per the bank guidelines.
- Term Loan: Maximum 75% of cost of to be purchased
Margin:
- Cash Credit & Term Loan: Minimum 25%
- Letter of credit/Bank Guarantee: Minimum 15% ( ZLCC can allow relaxation up to 5%)
Security:
- Primary: Hypothecation on entire current assets and non-current asset
- Credit Guarantee-
Loan Sanctioned under this scheme will be covered using Transaction based Guarantee Cover model of CGSS.
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:
- Minimum: Rs 10 lakh
- Maximum: Rs 25 crore
Margin:
- Minimum 25% of stocks and book debts of 3 months
- Minimum 35% of book debts that are above 3 months and up to 6 months
- For Term Loan: Minimum 25%
- Letter of Credit/Bank Guarantee: Minimum Cash Margin 10%
Credit Facility –
- Cash Credit: 25% of Annual Projected Turnover
- Term Loan: Maximum 75% of cost of asset that are to be purchased/created out of bank finance.
- Bank Guarantee/Letter of Credit: Can be availed under the maximum cap of the scheme.
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:
- Rates starting from 9.60% p.a.
- For loan up to Rs 1 crore: Interest rate depends on the CIBIL Score/Commercial CIBIL MSME Rank of the borrower.
- For loan above Rs 1 crore: Interest rate depends on customer CIBIL Score/Commercial CIBIL MSME Rank which is interlinked with the internal credit rating.
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:
- Primary: Hypothecation of the vehicle purchased out of bank finances.
- Collateral:
- For above Rs 10 lakh and up to Rs 5 crore can be covered under the CGTMSE or Hybrid Security scheme.
- For above Rs 5 crore, it may be sanctioned against 50% of the realizable value of SARFAESI, a combination of SARFAESI enforceable property and liquid collaterals.
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:
- Project Cost: Up to Rs 5 lakh
- Bank Loan (In the form of term loan/cash credit/composite loan (term loan+cash credit)): Up to Rs 4 lakh 75 thousand
- Government Subsidy: 10% of the projected cost with a cap of Rs 25,000 as margin money contribution.
Rate of interest: UCO Float Rate + 1.10% i.e. 9.30% + 1.10% = 10.40% p.a.
Margin:
- 10% of project cost with a limit of Rs 25,000 by the West Bengal Government. If the loan amount is Rs 4,75,000 effective margin will be 5.26%.
- Working Capital Facility: Stipulated margin of 6% and 7.5% of projected annual sales to be sanctioned to general borrowers and borrowers making digital transactions.
- Term Loan Facility: Margin requirement ranging from 20% to 25% varying from industry to industry.
- Under the WBBCC scheme the government of West Bengal provides 10% of the project cost as the margin money subsidy.
Repayment Tenure:
- Cash Credit: 1 year (to be renewed every year)
- Term Loan: 5 years with a moratorium of up to 3 months
Guarantee Coverage:
- Maximum coverage of CGTMSE: 85%
- Maximum coverage of the State Government: 15%
- Effective Guarantee coverage: 100%
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.
Eligibility Criteria for UCO Bank Business Loan
UCO Contractor
- Individuals, proprietorship firms, partnership firm, limited liability partnership, private/public limited companies are eligible for UCO Contractor Business Loan.
- For registered contractors that are falling within MSME and undertaking works on behalf of PWD/Government/ PSU and Reputed Corporates.
- Sub-Contractors provided subletting is permitted in Original Contract
- Applicant sub-contractor should be A/B/C/D class contractor or any other category acceptable to State Government
- Should have an Udyam Registration Certification
- Should have a GST Registration
UCO GST Mitra
- The applicant should be an existing MSME enterprise engaged in business for at least 2 years and earning profit during the last 2 years
- Udyam Registration Certificate required for MSME
- Must have a GST registered unit which has filed GST returns for at least last 6 months
- No Cash Credit facility from any Bank/Financial Institution
UCO Udyog Bandhu
The applicant should be technically qualified and well-trained individuals with entrepreneurial ability including green horn entrepreneurs, running manufacturing and service enterprises under MSE as defined by MSMED Act 2006.
UCO Bunkar Rinn Yojana
The applicant should be an existing handloom weaver with a weaver card issued by the O/o DC (Handlooms). Also they should have certificates or identity cards issued by the State Government.
UCO Roop Sangam
- The applicant should be a woman or any business set up by a woman or group of women.
- The partnership firms should be under a partnership with other women/men where the major share in the partnership is of women partner(s).
- Any Private Limited Company having major shareholdings with women.
- Age: 20 years to 60 years
Artisans Credit Card
- The applicant should be an artisan involved in the manufacturing/production process.
- The lender usually prefers artisans/handicraft registered with the Development Commissioner.
Prime Minister’s Employment Generation Programme (PMEGP)
- The applicant should be above 18 years of age
- No income parameter for assistance to set up projects under PMEGP
- Applicant should have an Aadhaar (mandatory)
West Bengal Bhabishyat Credit Card (WBBCC) Scheme
- Individuals who are Indian National and residing in the State of West Bengal for at least 10 years.
- Individuals including motor transport workers and building and other construction workers age between 18 – 45 years.
Single person from a family is eligible under the scheme, family refers to self and spouse.