"UCO DOCTOR" SCHEME LAUNCHED

UCO Bank launched the "UCO Doctor" Scheme in select branches in Kerala, envisaging financing individuals, proprietorships, partnership firms and private limited companies engaged in providing human medical, pathological or diagnostic services.


Medical practitioners practising for a minimum period of three years or a medical unit in existence for a minimum period of three years and earning profit will be financed up to Rs 50 lakh. The maximum ceiling is Rs 15 lakh for rural, semi-urban areas and Rs 50 lakh in urban area and metros. The rate of interest will be 11.50 per cent. However, 0.50 per cent will be allowed where 100 per cent or more collateral security is available. Margin will be 25 per cent up to Rs 5 lakh, and the other 15 per cent of the cost of the project or equipment. No margin on working capital is required, according to officials.


Source: http://www.blonnet.com/2010/01/26/stories/2010012650592100.htm