UCO Shishu Mudra

UCO Shishu Mudra – Product Details

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Salient Features Of Shishu Mudra Loan for Eligible Customers

Sl no.

Parameter

Scheme covenants

1

Who are eligible?

Individual / Proprietorship Firm / Partnership Firm (including LLP), Private and Public Limited Company classified as micro enterprises as defined under MSMED Act, 2006 and as amended from lime to time.
Requirement for both ETB and NTB Customers
Cusomer should have Udyam Registration Certificate.
Customer should possess aadhaar and any one of the Officially Valid Document (OVD)
Mobile number provided by the customer on STP Platform during registration process for availing STP shishu mudra loan must be linked to Aadhaar.

2

Purpose

Working capital term loan to eligible shishu mudra customers for meeting working capital requirements

3

Age

18 years to 65 years

4

Loan Amount

Upto Rs 50,000

5

Rate of interest

Scheme Name	UFR	Spread	Effective RoI
MSME Smart	8.30%	2.10%	10.40%
STP Shishu Mudra	8.30%	1.10%	9.40%
GST Smart	8.30%	1.95%	10.25%

6

Processing & documentation charges

Nil

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

8

Other salient features

End to end digital loan in less than 15 minutes
Customer has the flexibility to adjust the EMI through change in tenure and loan amount through the dynamic slider functionality inbuilt in the journey

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Salient Features Of End-To-End Digital MSME SMART FINANCE Loan

Sl no.

Parameter

Scheme covenants

1

Who are eligible?

Individual/Proprietorship Firm/Partnership Firm (Including LLP), Private and Public Limited Company classified as micro enterprises as defined under MSMED Act, 2006 and as amended from time to time.
Available for Existing as well new to bank customer
Customer should have operative account with Bank as primary account holder and minimum available balance of Rs 2,000/- should be maintained for upfront charge collection.
Age of the customer must be between 21-65 years
Existing credit facility, if any should not be under SMA-1/SMA-2/NPA category during last 12 months.
Unit must be in business for minimum 2 (Two) years and should be profit making.
Customer should possess Aadhaar and any one of the Officially Valid Documents (OVDs).
Mobile number provided on STP Platform for availing loan must be linked to Aadhaar.

2

Nature of Facility

Fund based Term Loan and/or Working Capital.

3

Quantum of Loan

Maximum 25 Lakh

4

Tenure

Cash Credit: One year
Term Loan: Maximum 84 Months
Note-To be reviewed/renewed annually.

5

Moratorium Period

Nil

6

Rate of Interest

Scheme Name	UFR	Spread	Effective RoI
MSME Smart	8.30%	2.10%	10.40%
STP Shishu Mudra	8.30%	1.10%	9.40%
GST Smart	8.30%	1.95%	10.25%

7

Charges

Unified fee - 0.50% of sanction limit plus GST as applicable
Digital Conveyance Fee-₹2,000 plus applicable GST.
CGTMSE Fee – As applicable
Legal and Valuation Charges(If collateral security provided) – As applicable
Inspection charge- Nil
Review/ renewal charge- As applicable
Insurance Premium- As applicable

8

Personal Guarantee

Personal guarantee, of Proprietor/Partner(s)/Promoter(s)/Director(s)(in case of Firm/Company).
Third Party guarantee should be obtained only if collateral offered is in the name of third party.

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