UCO Bank Credit Cards

Features and Benefits of UCO Bank Credit Cards:

The following advantages that accompany UCO Bank Credit Cards make the cards very popular amongst all credit products in the MSME banking industry.

• Multi-purpose Credit Cards: UCO Bank Credit Cards are offered to a wide class of customers from the SME sector including artisans, handloom weavers, fishermen, self-help groups, autorickshaw owners and also to customers from urban areas.
• High Loan Quantum: With UCO Bank Credit Cards, customers will be able to avail up to Rs.10 lakhs as credit. This offers more financial flexibility, especially to customers from tiny industries sector.
• Minimal Security Requirements: The documentation requirements and security requirements are minimal when it comes to UCO Bank Credit Card loans. For a majority of the UCO Bank Credit Card loans, there is no requirement of collateral or third party security.
• Competitive Interest rates: The interest rates for UCO Credit loans are very affordable and borrowers need not have to worry about the burdens of interest payments. The interest rates for UCO Bank Credit Card loans are as low as base rate + 1% per annum.
• Loan Types: UCO Bank Credit Cardholders can avail cash credit or term loans as per their capital needs.
• Flexible Repayment Terms: If you are worried about having the EMI, fret not, UCO Credit card loans come with flexible repayment options. Customers can choose a convenient repayment period and pay the loan back in affordable installments.
• Loan Purpose: The loans procured using UCO credit cards can be used for working capital like procurement of raw material and also for block capital.
• Insurance Coverage: UCO Bank Artisans Credit cardholders registered with the Development Commissioner for Handicrafts will be eligible for insurance coverage.
• CGTMSE Advantage: Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) coverage for Weavers credit card means that the cardholder can avail loans without having to offer any form of collateral security.

UCO Bank Credit Cards Charges and Interest Rates:

The following table gives the margin and interest rates for the credit card types offered by UCO Bank.

Card Type	Interest Rate	Margin Rate
UCO Bank Artisans Credit Card	Base Rate + 1.00%	Above Rs.50,000 – margin of 15% Up to Rs.50,000 – No margin
UCO Bank Laghu Udyami Credit Card	Base Rate + 1.00%	10%
UCO Bank Swarojgar Credit Card	Base Rate + 1.00%	As suggested by UCO Bank
UCO Bank Weavers Credit Card	Base Rate + 1.00%	Above Rs.25,000 – margin of 25% Up to Rs.25,000 – No margin

UCO Bank Credit Cards Eligibility:

Below are the eligibility criteria for various credit cards offered by UCO Bank.

UCO Bank Artisans Credit Card	Artisans involved in a manufacturing process Handicraft artisans and new units Preference will be given to artisans registered with Development Commissioner – Handicrafts.
UCO Bank Laghu Udyami Credit Card	Small and Micro Entrepreneurs having a good dealing with UCO Bank for last 3 years
UCO Bank Swarojgar Credit Card	Small artisans and handloom weavers Small businesses covered under priority sector Self-employed individuals and Self Help Groups Micro Entrepreneurs Fishermen and service sector Rickshaw owners Borrowers in urban areas
UCO Bank Weavers Credit Card	Primary Co-operative societies Self Help Groups, Individual weavers, JLGs Preference will be given to weavers registered with Development Commissioner, Handlooms.

UCO Bank Credit Cards Documentation:

UCO Bank customers must have the following documents handy to complete the credit card application process.

• Completely filled application form with recent passport size photographs
• ID Proof – any one of PAN Card, Aadhar card, driving license, passport or Voter ID
• Proof of residence – Passport, Aadhar card, recent telephone or electricity bills, election card
• Proof of Income – Salary slips and bank statements for the last 3 months, IT Return Statements and Form 16, whichever is applicable

The list of documents required varies depending on your type of employment (self-employed, agriculturists, handloom weavers etc.) and source of income. Do contact UCO Bank to find out more about the documents required for your preferred credit card type.

List of UCO Bank Credit Cards:

Following credit cards are offered by UCO Bank which caters to the financial need of a wide range of customers.

• UCO Bank Artisans Credit Card: UCO Bank Artisans Credit Card is designed to take credit facilities to artisans without any hassles of having to file documentation and security/collateral. Artisans hailing from Medium and Small Enterprise units will be able to avail term loans and cash credit without any third-party guarantee requirements. UCO Bank Artisans Credit Card also comes with other advantages including insurance coverage, affordable interest rates and high credit limit.
• UCO Bank Laghu Udyami Credit Card: UCO Bank Laghu Udyami Credit Card is specially crafted to meet the credit requirements of artisans, SSI, small and tiny sector units, self-employed individuals and other village industries. Cardholders can avail loans using this credit card up to Rs.10 lakh without the need for collateral. The loan amount can then be utilized for the betterment of business and also for other business purposes including a purchase of raw materials. The limit sanctioned for LUCC is valid for 3 years.
• UCO Bank Swarojgar Credit Card: UCO Bank Swarojgar Credit Card caters to the block capital and working capital demands of MSME workers. With features like competitive interest rates and flexible tenure options, UCO SCC is offered under MSME section by UCO Bank. The cardholder can avail both cash credit and term loan or either to cater to their financial requirements. This credit card aims to make financial assistance timely and approachable for a different class of people including autorickshaw owners, fishermen, self-help groups etc.
• UCO Bank Weavers Credit Card: Designed to meet the credit requirements of small sector handloom weavers, UCO Bank Weavers Credit Cardholders can avail cash credit easily using the card. The maximum loan limit is fixed at Rs.2 lakhs and the customer can choose from a wide range of tenure options to comfortably pay back the loan in affordable EMIs. Self Help Groups, JLGs and primary co-operative societies can also apply for this card. A; UCO WCC accounts will be covered under CGTMSE.