Looking for MSME Loan for Doctors from UCO Bank?

You have landed at the right place. This page contains all the information you will need on UCO Bank’s MSME Loans for Doctors who need a loan or working capital to set up or expand their practices.

UCO Bank Doctors Loan Scheme

This loan helps medical practitioners meet their capital expenditures or working capital expenses right from setting up a clinic, nursing home, hospital and pathology labs to purchase of equipment, vehicles and ambulance. The maximum loan amount is Rs. 3 crore for this loan whether it is availed to meet the working capital needs, capital expenditure needs or purchase vehicles for business use.

Features of UCO Doctors Plus

Why this Loan?

  • The UCO Star Doctors Loan is meant for medical practitioners who need to financial assistance in fulfilling their capital expenditure needs
  • Qualified Medical practitioners from different branches of medicine such as Allopathy, Homeopathy, Unani, Ayurveda, etc. are eligible for this loan if they have experience in running the business
  • Individuals, Proprietors, LLPs, Trusts and Companies can also avail this loan if minimum 51% of stake is help by a qualified doctor or medical practitioner

Loan Amount

  • The minimum loan amount sanctioned under this loan scheme is Rs. 1 lakh. The maximum loan amount offered under this loan scheme is Rs. 3 crore

Interest

  • Loans up to Rs. 25 lakh: The interest rate for this UCO Bank MSME loan is defined as the sum of two factors viz.UCO Float Rate and Strategy Spread of 1.55%. Currently, UCO Float Rate is 6.90%. This makes the effective interest rate 8.45%
  • Loans Above Rs. 25 lakh up to Rs. 1 crore: The interest rate for this UCO Bank MSME loan is defined as the sum of two factors viz.UCO Float Rate and Strategy Spread of 2.55%. Currently, UCO Float Rate is 6.90%. This makes the effective interest rate 9.45%
  • Loans Above Rs. 3 crore: The interest rate for this UCO Bank MSME loan depends on the internal rating of the borrower. Please get in touch with the bank for details

Repayment

  • These details are not mentioned on the bank’s website. We suggest calling a bank representative to get more information

Security Needed

  • The bank asks for hypothecation of assets acquired out of bank finance as primary security for this loan
  • The bank may also ask the borrower for equitable mortgage of property, third-party guarantee or CGTMSE coverage to secure the loan

Eligibility

  • The borrower should be a qualified registered medical practitioner in any branch of medical science including Allopathy, Homeopathy, Ayurveda, Unani, Dental, etc. with experience of running business
  • Individuals, Proprietorship, Partnership, Trust and Companies are also eligible loan if minimum 51% of stake is help by a qualified doctor or medical practitioner
  • The loan amount can be used for setting up clinics, purchase of equipment, expansion of unit, purchasing vehicles for business use, meeting business trip expenses, working capital needs, etc.

 Margin & Processing Charges

  • This information is not mentioned on the bank’s website. Please talk to a bank representative at the time of applying for this loan

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