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Uco Bank Business Loan

Are you instantly looking for a business loan? If yes, then UCO Bank is one of the best loan providers for you. The loans are available in high quantum, low rate of interest with quick disbursal of the loan amount. UCO Bank not only offers low-interest rates, but also makes it an affordable option by providing the flexible EMI option.

It offers business loan to small-sized as well as micro-sized enterprises. So, even if you are just starting your business, you can easily get the loan from UCO Bank. In addition, it also provides special offers in the form of loan schemes which makes it an affordable loan option.

Apply Business Loan

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Minimum salary of Rs 10,000 is requiredMinimum annual income of Rs. 1.2 Lakh is requiredMinimum turnover of Rs. 1.2 Lakh is required
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Reasons to apply for UCO Bank Business Loan

UCO Bank Business Loan offers numerous benefits to the borrowers which other banks fail to provide. Let’ know about the benefits associated with UCO Bank Business Loan:-

  • Instant loan up to 200lac
  • Interest rates starting from 10%
  • Repayment tenure up to 120 months
  • Processing charges starting from 0.5%
  • Zero pre-payment charges
  • Interest charged on the daily reducing balance
  • Easy documentation process
  • Quick funds disbursal
  • Hassle-free documentation process

Uco Bank Business Loan Interest Rate

Salaried Individual

Loan Amount

Starting From Rs. 50,000 up to Rs. 25 lakhs

Interest Rate

10.99% - 20.00%

Loan Tenure

12 to 60 months

Processing Fee

2.50%, Minimum Rs. 1,000 Maximum Rs. 25,000

Foreclosure Charges

Allowed after 12 EMIs, Prepayment charges vary by year: 2nd year - 4%; 3rd year - 3%, after 3 years - 2%

Age

21 years up to 60 years

Important Features of UCO Bank Business Loan

UCO Bank provides instant business loans to help the borrowers to meet the fund deficit in their businesses, to expand or start a new business, and a lot more. Thus, with the business loan, you can easily meet a wide range of your business requirements.

It is amongst the most preferred bank for business loans as the rate of interest is quite low and funds are instantly available in huge quantum. The key features of the UCO Bank Business Loan make it the most preferred loan option; have a look:-

Low rate of interest

UCO Bank business loans are available at an affordable interest rate which starts at 10% only, so you easily get a loan at affordable rates.

Interest charged as per daily reducing balance

The interest charged is as per the daily reducing balance which means every month the interest will be charged on the remaining principal amount.

No pre-payment charges

If you have funds in bulk and want to pay off your loan, then you can easily make pre-payment of the loan. There are no pre-payment charges levied by the bank.

Easily apply in a click

You can easily apply for the UCO Bank business loan in just a few clicks as the entire loan process is completed online. You just need to fill an easy loan application form in order to apply for the loan.

Funds up to 200lac easily available

You can easily get high quantum funds with UCO Banks as it provides loan up to 200lac instantly without any collateral.

Low EMIs extending up to 120 months

Repay the loan in accordance with the future availability of the funds as you can extend your repayment tenure up to 120 months. Thus, you can easily repay the loan in small EMIs.

Affordable processing charges

The loan processing fee charged by UCO Bank is also very minimal. Loan processing fee start just from 0.5%, so you need not pay much for getting your loan approved.

Instant availability of funds

The loan amount is instantly disbursed by the bank in just a few days. So, even if there is an urgent requirement of funds, you can easily meet the same with UCO Business Loan.

Paperless documentation process

The process of document verification is also accomplished online in just a few clicks which make the process paperless, instant and hassle-free.

Uco Bank Business Loan Fees & Charges

Loan Processing Fees Up to 2.50% of loan amount, Rs 1,000 to 25,000
Pre-payment Charges 4% of principal outstanding - 13 to 24 months,
3% of principal outstanding – 25 to 36 months
2% of principal outstanding - >36 months
Penalty for late EMI payment 24% per year on outstanding amount From default date
Eligibility Criteria

Check your Eligibility for UCO Bank Business Loan

Even before you apply for UCO Bank business loan, you need to check your eligibility for the loan. Although the eligibility criteria of UCO Bank are quite basic, but still you need to match all the criteria in order to qualify for the UCO Business Loan. Let’s have a look at the eligibility criteria for UCO Bank loans.

1.

In order to apply for the business loan from UCO Bank, you must be 21 years of age and your maximum age at the time of loan maturity should be 65 years.

2.

You should either be running a Private Limited Company, a partnership firm, or you should be a proprietor, self-employed professional, self-employed individual.

3.

Your annual income or turnover from the business should be more than the minimum annual income or turnover requirement of the UCO Bank.

4.

Your business should be in existence from the last 2 years, and it must be making profits from past 2 years.

Know the Documents Demanded by UCO Bank

In order to get your business loan approved, you need to provide some documents for the verification purpose. Below is the list of documents required by UCO Bank:-

  • Copy of PAN Card – You need to provide the PAN Card for Partnership firm/Individual/company

  • Proof of Address – Voter ID/Telephone Bill/Driving License/Electricity Bill/Passport

  • Identity Proof – Aadhar Card/Driving License/Voter ID/Passport 

  • Business Continuity Proof – Bank Statement/IT Returns/Sales Tax Challans/Shops & Establishment Certificate/Partnership Deed/Certificate of Incorporation

  • Account Statement – Bank statement of preceding 6 months

Documents Required

Benefits of Applying for Business Loans at Rupee Station

Rupee Station shares an exclusive collaboration with UCO Bank, thus you can easily avail the special loan schemes and enjoy the lowest interest rates offered by the bank. With us, you can also check your eligibility in just a few clicks with our financial tools. Let’s have a look at the benefits of applying for the business loan at Rupee Station:-

Customized loans available

Requirements of funds widely varies from one borrower to the other, and to meet the varying requirement of our customers, we provide customized loan options.

Save time, apply in a minute

With Rupee Station, you can instantly apply for the business loan in just a minute. You only need to fill an online loan application form at our website, and you are done with the process of applying the loan.

Enjoy Instant approval of loan

We ensure that your loan application is instantly approved so that you receive the funds as earliest as possible. Once your loan application is received by our expert, it is processed on the priority basis.

Receive funds within 2 days

Funds are disbursed into your account within 2 days only after the approval of your loan application form the concerned bank.

Get the help from experts

In case, you are facing any issue in applying for a loan or need any information related to the business loan, you can instantly get in touch with our customer support officials.

Get UCO Bank Business Loan in Just a Few Clicks

Apply for business loan at Rupee Station in just a few clicks. With us, you can enjoy the hassle-free process of getting a loan. Let’s have a look at the loan process –

Step 1

Fill and provide your basic details required in our online loan application form.

Step 2

Our financial expert will go through your application, and will take the process forward.

Step 3

Receive funds in just 2 days after the approval of your application for the loan.