UCO Bank Trader Loan

Activities

1. Trading (apart from export)
2. Retail and Wholesale Trade
3. Service Sector

Borrower

1. Individual
2. Proprietorship
3. Partnership
4. Public and Private Limited Companies
5. Hindu Undivided Families

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

1. 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.
2. 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

1. Up to Rs.1 crore: UCO Float Rate+1.55% which is 8.45% p.a.
2. Above Rs.1 crore: Based on the credit rating