STP UCO Suryodaya Scheme 1

Particulars Details
Purpose For setting up of Grid connected RTS [Roof Top Solar) plants & ground mounted elevated Installations, for residential purpose only a) Upto3 KW b) Above 3KW
Eligibility Criteria
  • Existing savings account holders*, who have applied for Suryodaya Loan through Jan Samarth Portal, with a valid application ID.
  • Age of the customer must range from 21 Years to 75 Years (including repayment period).
  • Status of the linked savings account account must be Active.
  • No other linked loan account must be categorized as SMA-l,SMA-2 orNPA.
  • For loan amount more than 3KW, minimum net Income of Rs.3 lakh as per latest ITR filed.
  • *For New to Bank customers, savings account to be opened mandatorily before sanction of the loan & formalities to be completed during site inspection
Nature of facility Term Loan
Minimum & Maximum Loan Amount Minimum: Rs.50,000/-
Maxlmum: Rs.2.00 lakh (up to 3KW) and 6.00 Lakh (above 3KW).
Credit Score Requirement Credit Score Check will be conducted at the time of application of the loan.
Minimum CIBIL Score of 680 required.
In case the Applicant has no Credit history [-1 or 0) or Credit History is not sufficient to score in the range of 300-900, he/she is also eligible for loan
Margin Upto 3 KW - 10% or Project Cost
Above 3 KW - 20% of Project Cost
Loan Upto 2 Lac
UCO Float Rate (8.30% at present) - 2.30% i.e. Effective rate = 6.00% p.a. with monthly rests.
Loan Above 2 lac
For Individuals having Home Loan account with our Bank
Applicable card rate for Fresh Home Loan
For Individuals having no Home Loan account with our Bank/Other
1.00% over and above the applicable card rate for fresh home loan
Click Here to view current rate of interest
Repayment Tenor & Moratorium Period Minimum - 6 months
Maximum - 120 months
Moratorium Period – max 6 (Including maximum Loan tenure)
Security No collateral security is required.
CIBIL Charges Rs.177/- Inclusive of GST per applicant
Documentation/Processing Charges Nil
DDE Charge Rs 42 Inclusive of GST
Stamp Charge As per State rate applicable
Cooling off/ look-up period Three days from the date of sanction/disbursement.
Penal Charges In case of default in repayment/delay in repayment/non-compliance of terms of sanction, penal charge on outstanding amount @ 2% + GST on yearly basis will be charged.
Default charges to be calculated on daily basis for the entire period of irregularity
Documentation Manual or E sign
Repayment of Loan Instalment Repayment of loan instalments will be through Auto Recovery mode.
Disbursement Eligible loan amount shall be disbursed by Branch
Point of Contact For any query please contact Base Branch Customer Care: 1800 8910
For Technical issues
Landline: 03344559409 /03344559312
Email:- mailto:digital.lending@ucobank.co.in
Quick Links RBI Sachet Portal
Nodal Grievance Redressal Officer for FinTech/ Digital lending Chief Manager, OSD & Transaction Monitoring Vertical, 1st Floor, 2 India Exchange Place, Kolkata 700001, Ph.:033 44557120.
Website link of Nodal grievance redressal officer: https://ucobank.com/nodal-grievance-redressal-officer-for-fintech/-digital-lending
Link for online complaint lodgement: https://spgrs.ucoonline.in