| 1 |
Who are eligible? |
- Individuals / Proprietorship undertaking business activity and falling within the definition of MSME as per MSMED Act, 2006 and as amended from time to time
- Cusomer account must be KYC complied
- Customer should have GST and Udyam Registration
- GST returns should have been filed for at least past 24 months
- Existing account should not have been classified as SMA-2/NPA in past 12 months
- Customer enjoying WC limit with other banks will have to close the existing WC limit
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| 2 |
Purpose |
- Meet working capital requirements
|
| 3 |
Age |
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| 4 |
Loan Amount |
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| 5 |
Rate of interest |
- UCO Float + 1.70% (currently – 11%)
|
| 6 |
Processing & documentation charges |
- 0.20% of sanctioned limit
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| 7 |
How to access this digital journey |
- This end to end digital journey may be accessed through UCO Website or mobile phone, using the link shared by the bank
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| 8 |
Other salient features |
- End to end digital loan in less than 15 minutes
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