Business Loans from UCO Bank
Being one of the prominent public sector banks in India, UCO Bank offers a range of loans to different segments of its customer base. As of April 2020, the bank offers eight different loan options to its corporate customers to help them run their business smoothly right from working capital loans to infrastructure loans. The bank also offers non-funded assistance to corporate borrowers.
The corporate business loans offered by UCO Bank are:
- Working Capital Loan
- Trade Finance
- Term Loan
- Infrastructure Financing
- Loan Against Future Rent Receivables
- Bill Discounting
- UCO Expo Gold Card
- UCO Corporate Home Loan Scheme
We give you a brief introduction to each of these loans below. In addition you have the option to click further and read in detail about each loan in a specific page of its own. This specific page has been made specifically for you to get all the information you need on that loan in an uncluttered and easy-to-read format.
In case information is less or not available, we have been not been able to create an information page as yet, but we may do so in the course of the next few months.
UCO Bank Working Capital Loan
The UCO Bank Working Capital Loan helps businesses in the trade and manufacturing sector finance their everyday operations including the purchase of inventory, investment in current assets, salary payments, power charges, etc.
Features of UCO Bank Working Capital Business Loan
Why this Loan?
- This business loan can be taken for all current obligations due within a year related to running the business. This loan can be availed to purchase business assets as well
- UCO Bank funds pre-sales as well as post-sales working capital requirements
UCO Bank Business Loan for Trade Finance
This loan helps businesses pay for pre-shipment, post-shipment, and other activities for your trade business right from sourcing, manufacturing or converting semi-finished into finished goods and services to importing raw materials and capital goods in foreign currency.
Features of UCO Bank Trade Finance
Why this Loan?
- The UCO Bank Trade Finance Loan is meant for you if you need foreign currency for meeting your export and import obligations. Please get in touch with the bank to get a list of all activities eligible for this loan
- The repayment period for each loan is set on a case-to-case basis depending on factors such as the nature of project, quantum of loan, repayment capacity of the borrower, etc.
UCO Bank Term Loan for Business
UCO Bank offers term loan schemes to help businesses raise funds for new projects. The loan can also be availed for expansion, diversification and modernisation of existing projects.
Features of UCO Bank Term Loan
Why this Loan?
- The UCO Bank Term Loan for Business is meant for you if your business needs funds to finance new projects or expand, diversify or modernise existing projects in the non-infrastructure sector
- The bank offers this loan in Indian currency and foreign currencies
UCO Bank Infrastructure Financing
This loan helps businesses pay upfront for building infrastructure such as roads, bridges, urban development, etc. These types of loans are characterised by a large outlay of funds and longer periods of repayment.
Features of UCO Bank Infrastructure Finance (Business Loan)
Why this Loan?
- The UCO Bank Infrastructure Finance Loan is meant for you if your business needs funds to build infrastructure projects such as highways, bridges, water supply systems, Air or Sea port-development, urban development, etc.
- The repayment period for each loan is set on a case-to-case basis depending on factors such as the nature of project, quantum of loan, repayment capacity of the borrower, etc.
UCO Bank Loan Against Future Rent Receivables
This loan is designed to help businesses meet the expenses of renovation, expansion or alteration to the premises rented or other business/personal needs related to the property.
Featured of UCO Loan Against Rent Receivables
Why this Loan?
- The UCO Bank Loan Against Rent Receivables is the perfect corporate business loan to help landlords meet the expenses of alteration, addition or renovation to the premises but not for speculative purposes
- The loan can be repaid through monthly rent as EMI for the unexpired period of lease
UCO Bank Bill Discounting Loan
UCO Bank offers fund-based assistance to businesses by providing advances against inland bills, receipts, DDs and cheques in the form of limit for purchase of bills, advance against bills or discount of bills for genuine trade-related transactions.
Features of UCO Bank Bill Discounting
Why this Loan?
- The UCO Bank Bill Discounting Loan is meant for you if your business needs advance against the limit for purchase of bills, advance against bills, discount of bills, etc. for trade-related transactions
- The repayment period for each loan is set on a case-to-case basis depending on factors. Please get in touch with the bank to get a list of all activities eligible for this loan
UCO Bank Expo Gold Card
UCO Bank offers a gold card to exporters with a good credit rating. The Gold Card is issued for three years under this scheme and can be renewed for a further period of three years subject to satisfying the terms of the bank.
Features of UCO Expo Gold Card
Why this Loan?
- The UCO Bank Expo Gold Card to Exporters is meant for you if you are an exporter in need of export credit
- As of April 2020, the eligibility criteria for this loan are not available on the bank’s website. Please get in touch with a bank representative to know more
UCO Bank Corporate Home Loan Scheme
UCO Bank offers home loan scheme to its corporate customers who want to purchase land and/or construct dwelling units, guest houses or transit homes for their employees.
Features of UCO Corporate Home Loan Scheme
Why this Loan?
- The UCO Bank Corporate Home Loan Scheme is meant for businesses who want to purchase land and construct dwelling units, guest houses or transit home for their employees
- The bank only considers businesses which have been in business for more than 5 years and have been making profit consistently for the last 3 years for this loan
For more details on this loan, please click anywhere on this sentence to get to its specific page.
Important Note: UCO Bank may offer more corporate loan options that are not yet published on the website. We suggest that you get in touch with the nearest branch to check the loan schemes they offer. This will also help you get a custom quote since many loan schemes are need-based and certain charges such as application charges, service charges, Strategic Premium, etc. may be decided on a case-to-case basis.
Interest Rate for UCO Bank Business Loans
- The interest rate for UCO Bank Loans is defined as the sum of three factors, namely: Base Rate, Strategic Premium and Credit Risk Premium
- The Strategic Premium depends on various factors including the type of business, tenure of loan, etc.
- Credit Risk Premium, as the name suggests, depends on the Credit Risk Rating of the borrower
Documents Needed for Individuals
- Loan Application Form duly filled and signed by the applicant and co-applicant, if any
- Two Passport Size Photographs of applicant and co-applicant
- Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
- Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
- Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income/Banking Proof: Last 6 months Bank Account Statement of applicant and co-applicant, Loan Statement of Running Loans, Latest Closed Loan NOC, Net Worth of the applicant and co-applicant
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
Documents Needed for Proprietorship and Partnership Firms
- Loan Application Form duly filled and signed
- Partnership Deed and Partnership Registration Certificate
- ID Proof of the Firm: Firm PAN Card or PAN Issuing Letter
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income Proof: CMA Data and Project Report, Debtors and Creditors Certificate, GST Return, Last 3 years ITR of applicant and co-applicant, Audited or CA Certified Computation of Income/Trading Account/Profit and Loss Account/Balance Sheet, Annual Audit Report and Tax Audit Report if audited, Form 16A if applicable, Net Worth of applicants, co-applicants and guarantors
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Partnership’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
Documents Needed for Private Limited and Public Limited Companies
- Application Form duly filled and signed
- Company ID Proof: Company’s PAN Card
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Business Proof: AOA and MOA, Company Incorporation Certificate, Business Commencement Certificate, Board Resolution, CA/CS verified Share Holding Pattern, ROC Annual Return, DIN Certificate, List of Directors on Company Letter Head, GST Number, Form 32 in case of Director Change
- Income Proof: CMA Data and Project Report, Last 3 Years ITR Acknowledgement copy of Company and all Directors, Last 3 Years Annual Credit Report or Tax Audit Report with Article 3CB, Article 2D, Article 3CD, TDS Certificate/Form 16A, Net Worth Certificate
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Company’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
Reference Facts
- UCO Bank Website: www.ucobank.com and www.ucobanking.com (net banking)
- Headquarters: Kolkata, West Bengal
- Call Centre Toll-Free Number: 1800 274 0123