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  • UCO Bank Trader Loan

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  • Clients in Wholesale Trading (other than exports), Retail, and Services Sector can avail Working Capital and Term Loans under the UCO Bank Trader loan facility. However, they must mortgage their property or any other security of adequate value to avail the loan.

    Features of UCO Bank Trader Loan

    Feature Details
    Activities The various activities that are covered under this loan are mentioned below:
    • Trading (apart from export)
    • Retail and Wholesale Trade
    • Service Sector
    Borrower The various borrowers who are eligible to avail the UCO Bank Trader loan are given below:
    • Individual
    • Proprietorship
    • Partnership
    • Public and Private Limited Companies
    • Hindu Undivided Families
    However, the borrower must deal exclusively with UCO Bank.
    Amount of Loan Depending on the eligibility, the loan amount can range between Rs.1 lakh and Rs.500 lakh.
    Credit Facilities Depending on the extant guidelines, Non-Fund based and Fund based credit facilities are provided.
    Security
    • Collateral: Collateral securities such as a building or non-agricultural land must be provided. The land that is provided must be in the name of the borrower, director, partner, proprietor, or any other third party who acts as the guarantor.
    • Primary: Hypothecation of fixed deposits, book debts, and stocks for the units that have been making a profit for the previous two years.
    Interest Rate
    • Up to Rs.1 crore: 1-year MCLR +1.15%
    • Above Rs.1 crore: Based on the credit rating
        

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