UCO Roop Sangam

Disclaimer….before you read ahead!

The information contained herein is of a general nature and for information purposes only, with the intent of raising awareness around various resources, schemes etc. available for women entrepreneurs in India. It is not intended to address the circumstances of any individual or entity. It does not purport to be all-inclusive or necessarily contain all the information that may be relevant for the reader, and may be subject to updation, revision or amendment. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to remain accurate in the future. The reader, therefore, is required to exercise their discretion; and not act on such information without appropriate professional advice after a thorough examination of the particular situation. 

Furthermore, we are not a lender and are not authorized by the Reserve Bank of India to act as one. By disseminating the information contained herein, we are not soliciting any borrower or customers for the company or organization mentioned herein nor do we intend to syndicate any capital for the reader of this article.

About this scheme…

UCO Roop Sangam is a loan offering by UCO Bank to encourage & empower women entrepreneurs.

How is it being implemented?

Under this Scheme, financial assistance in the form of loans is given exclusively to,

• Women Entrepreneurs

What is on offer?

I. Product 

• Term Loan, Cash Credit 
• Ticket Size: up to ₹10 Lakhs
  • Of this, Cash Credit will not exceed ₹3 Lakhs
• Assessment of Loan Amount:
  • Term Loan: Need based
  • Cash Credit: 20% of projected realistic annual turnover 

II. Purpose:

• Acquisition of or investment in fixed assets
• Working capital requirements

III. Borrower Type:

• Individual, Sole Proprietorship, Partnership, Limited Liability Partnership (LLP), Private Limited Company

IV. Security or Collateral or Guarantee or Insurance

• Security: Charge on assets created out of Bank’s finance under this Scheme
• Collateral: For more information around this, please contact UCO Bank via means mentioned below
• Guarantee: Nil 
• Insurance: For more information around this, please contact UCO Bank via means mentioned below

V. Interest Rate 

• 9.85% – 10.40% per annum

VI. Processing Fee

• Up to ₹5 Lakhs: Nil
• Above ₹5 Lakhs & up to ₹10 Lakhs: 0.50% + GST

VII. Margin Money Requirement

• For more information around this, please contact UCO Bank via means mentioned below

VIII. Tenure, Repayments & Pre-Closures

• Tenure: For more information around this, please contact UCO Bank via means mentioned below

• Repayments: For more information around this, please contact UCO Bank via means mentioned below 
• Pre-payment & Foreclosure Charges: 2.00% + GST to be recovered for prepaid amount at the time of closure of account. Micro & Small Enterprises are exempted irrespective of the limits/outstanding. For more details, refer under Service Charges/Commission for Advances including MSME & Agriculture, other than Schematic Lending Tab here

IX. Turnaround Time

• Up to ₹5 Lakhs: 2 weeks
• Above ₹5 Lakhs & up to ₹10 Lakhs: 3 weeks

Interested? Read ahead to check your eligibility…. 

I.

Do you own your business individually or along with other women?

OR

In case of Partnership or Private Limited Company, do women as Partners or Shareholders, as applicable, own at least 51% share? 

II. Do you have the working skill or experience in the intended line of business?

If your answers to the questions above are an emphatic YES, you are all set to avail loan under UCO Roop Sangam Scheme! 

So…how big is this Scheme and what has been done so far?

 I. This information does not seem to be available in the public domain

So, now, how should you go about it?

I. For submitting application:

• Online: Please apply here [Note: Select MSME Loan under Facilities Interested]

OR

• Visit one of the 75 UCO Bank Specialized MSME Branches nearest to you here

OR

• Visit one of the 3,263 UCO Bank Branches nearest to you here  

II. For information on Documentation Required, please scroll down here 

III. For any queries, please contact UCO Bank via

• Toll Free Number: 1800 103 0123  

OR

• Visit one of the 75 UCO Bank Specialized MSME Branches nearest to you here

 OR

• Visit one of the 3,263 UCO Bank Branches nearest to you here

Go on then…and do spread the word!

Sources:

1. About UCO Roop Sangam Scheme: Scroll here 
2. UCO Bank’s Annual Report 2023-24
3. UCO Bank’s Latest Investor Presentation