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.
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:-
Starting From Rs. 50,000 up to Rs. 25 lakhs
10.99% - 20.00%
12 to 60 months
2.50%, Minimum Rs. 1,000 Maximum Rs. 25,000
Allowed after 12 EMIs, Prepayment charges vary by year: 2nd year - 4%; 3rd year - 3%, after 3 years - 2%
21 years up to 60 years
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.
|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|
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.
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.
You should either be running a Private Limited Company, a partnership firm, or you should be a proprietor, self-employed professional, self-employed individual.
Your annual income or turnover from the business should be more than the minimum annual income or turnover requirement of the UCO Bank.
Your business should be in existence from the last 2 years, and it must be making profits from past 2 years.
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
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:-
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.
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.
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.
Funds are disbursed into your account within 2 days only after the approval of your loan application form the concerned bank.
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.
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 –
Fill and provide your basic details required in our online loan application form.
Our financial expert will go through your application, and will take the process forward.
Receive funds in just 2 days after the approval of your application for the loan.