Purpose of Loan:
It is a loan for financing working capital and Term Loan needs of Retail and Wholesale trading activities other than Export. Retail and Wholesale trade in various types of commodities (not services) excluding those items which are specifically prohibited/restricted by the Bank, are financed through this scheme. Fund based Advance is granted by way of Cash Credit against stock as well as Book debt and Term Loan for acquisition of fixed assets to run the trade and business.
Quantum of Loan:
Minimum Rs. 1 Lakhs and Maximum Rs 200 Lakhs. Within fund based limit of Rs. 200 lakhs, term loan up to Rs. 25 lakhs can also be sanctioned for acquisition of fixed assets. Repayment period of Term Loan not to exceed 60 months. Besides the above quantum of fund based limit, NFB limit by way of Inland LC/Bank Guarantee if needed, may be issued maximum up to 50% of FB working capital limit.
Rate of Interest:
Interest rate for UCO Trader is BPLR-0.50% ie; 11.75% p.a.
For more information: Website