Under the UCO Property Loan scheme, individuals and companies/firms can avail a loan in order to sustain the financial requirements of their MSE units and for any other requirements that fall under the norms of the Priority sector. Loans can also be availed for personal purposes such as social obligations, travel expenses, medical emergencies, etc.
|Types of borrowers||
|Security||UCO bank provides credit against equitable mortgage of non-agricultural land/commercial property in metros/semi-urban centres under single/joint names. If a given property has to be sold, the title deed of the property which is mortgaged has to be released after adjustment of the bank dues. The borrower can also opt for a substitution with a property of the same or higher value to continue with the credit facility.|
|Repayment||Maximum of 144 EMIs.|
|Insurance||Rin Jeevan Suraksha covers outstanding loan in the event of natural/accidental demise of the borrower|
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