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UCO Securities |
Under the scheme credit facilities are extended to borrowers against financial securities issued by Central Govt./State Govt./RBI in the form of National Savings Certificates, Kisan Vikas Patra, Govt. Securities and Relief Bonds. Loans are also sanctioned against Life Insurance Policies of Life Insurance Corporation of India and bonds/debentures issued by specific Public Financial Institutions.
Eligibility
The securities should be in the name of the borrower or any one of he joint borrowers.
The securities should be transferable and can be assigned in favour of the Bank.
Quantum of loan
It will be determined on the basis of discounted face value/maturity value/surrender value of the transferable security at BPLR (at present 13.50%).
Rate of Interest
Click here for Interest Rates.
Repayment
| Facility |
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| Demand Loan |
Loans should be adjusted from the maturity proceeds of securities assigned/transferred |
| Overdraft |
| Cash Credit |
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