Multiple banks. Different interest rates. Call it a "conflict of interest".
  •  Loading your search... Loading your search...
  • UCO Bank CA Loan Scheme is Rated as "Excellent!" by 4 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    UCO Bank CA Loan Scheme

    Apply for Personal Loan

    The UCO CA Loan Scheme is a form of personal loan offered by UCO Bank in an attempt to help its customers, who are chartered accountants, construct their office premises, finance costs associated with purchasing furniture and equipment, and meet daily working capital requirements.

    Purpose of UCO Bank CA Loan Scheme

    The reasons for taking out a UCO CA loan scheme may include the following:

    • To construct office premises
    • To acquire a fully or partly constructed property as a new office premises
    • To fund the cost of construction and land related to office premises
    • To fund cost of fixtures, furniture, computers, office equipment and other accessories essential to the running of the business
    • To fund financing receivables and/or working capital

    Eligibility criteria for UCO Bank CA Loan Scheme

    Customers who wish to take out a UCO Bank CA loan scheme must meet the following eligibility criteria:

    • Chartered accountants, either working jointly or individually, or running a partnership firm or a proprietorship.
    • The maximum age of the proprietor or individual must not be more than 68 years. If it is a partnership firm, the younger partner must be less than 68 years of age.
    • The firm/applicant must be registered with ICAI (Institute of Chartered Accountants) and must also hold the valid license/certificate needed to practice the profession.
    • The firms/applicants name must not be present in the defaulters list released by the Reserve Bank of India.
    • If it is a partnership firm, all partners must sign the form as co-applicants.
    • The firm/applicants must not have caused the institute any disciplinary issues.
    • The firm must be running for at least two years.

    Features of UCO Bank CA Loan Scheme

    • If it is taken out as a term loan to acquire fixed assets, 20% is the uniform margin.
    • If it is taken out as to meet working capital requirements, 25% of the same will be the margin.
    • Up to 50% of the cost of land can be refinanced provided that the cost of land is not more than 30% of the overall cost associated with the project.
    • Stipulation of repayment is done in a manner such that the whole loan (both cash credit and term loan) will be repaid in full before the applicant turns 70 years old (if the applicant is an individual or a proprietor). The age of the younger partner must be less than 70 years at the time of settling the loan amount (if the individual is part of a firm).
    • The repayment period this loan is a maximum of 120 EMIs. This does not include a maximum moratorium period of 18 months.
    • The repayment will only start once the moratorium period is complete.
    • The maximum limit on working capital must be renewed on an annual basis as required by extant rules. A proper assessment of the limit is also necessary.

    Benefits of UCO CA Loan Scheme

    • Whether the loan is taken against working capital or term loan, if it aggregates up to Rs.100 lacs, CGTMSE rules guarantee CGTMSE cover for every unit.
    • No collateral is required
    • No prepayment charges
    • Low processing fee
    • Minimal documentation
    • Hassle-free application procedure
    • Dedicated team for customer service
    • Flexible repayment period

    Interest Rate of UCO Bank CA Loan Scheme

    The rate of interest applicable on a UCO CA loan scheme is 2% in addition to the base rate. It is a floating rate that is linked to the base rate.

    UCO Bank CA Loan Scheme Reviews

    • UCO Personal Loan
      "Good Loan "
      0.5 5.0/5 "Blown Away!"
      I got a Personal Loan from UCO few years back, and the experience with them has been great . The process for the application was simple and required minimal hassle. I got the loan for Rs.1.50 Lakhs for a mere 10.99% rate of interest, which I think is a great deal.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 07, 2017
    • UCO Personal Loan
      "excellent service"
      0.5 4.5/5 "Excellent!"
      I have taken a personal loan from UCO and their main branch was located near to my office so I applied from there their interest rate was very low compare to others in the market and during the process they asked for my document 16 and a letter from my employer and the guaranty and the previous policy copies once I submitted with the documents they completed the process which was good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 15, 2017
    • UCO Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      UCO bank gave a very good service in regards to my personal loan application and I got the loan amount within 7 to 8days from UCO bank. The process just took a week time. The customer service, the response and their follow up was good with UCO bank. The rate of interest is low when compared with others. The processing fee is also reasonable with UCO bank. I am very much satisfied with the loan amount with UCO bank.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 23, 2017
    • UCO Personal Loan
      "Very lengthy process"
      0.5 2.5/5 "Just OK"
      Besides paper work the rest is fine with UCO bank personal loan. The documentation part is very lengthy and they took a lot of time to provide the loan. UCO bank took around 10 to 15 days of time to provide the loan. Apart from that, I did not undergone any sort of issues with them.
      Was this review helpful? 5
      , jharsuguda
      Reviewed on Dec 21, 2016
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.