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Benefits

Purpose

Non-Farm Enterprises engaged in Manufacturing, Trading and Services activities for income generation.

Eligibility

Individual Customer or Sole Proprietor having active SB/CA with us since past 12 months.

Age of the customer should be between 18 years to 60 years.

No Business loan Outstanding from any banking system

Udyam Registration is mandatory

Apart from the above Customers, whose loan accounts (from our Bank), were closed during last 12 months with no degradation during entire tenure of loan, will also be eligible. In addition, the loan account should not be closed within six months from first disbursement.

Savings Account Holder CIBILscore should be =700
Current account Holder CIBILscore should be =700 or No hit or new to credit
Proprietorship firms are also eligible though commercial CIBIL not to be fetched, only CIBIL of Proprietor to be fetched

Minimum required score for loan eligibility is above 50, which will be calculated automatically by system.

Type of Facility

WCTL

Loan Amount

Maximum amount: Rs. 1 lakh

MARGIN

NIL

Repayment

Upto 5 years including maximum moratorium period of 3 months. Interest to be served during moratorium.

Colleteral Security

Loan application digitally signed using Aadhaar based OTP

Loan account opens digitally in CBS at Base branch

URN mandatory at the time of initiating loan process.

No pre-payment charges

Rate of Interest

Interest rate linked to RLLR (Linked to Repo Rate and currently RLLR is 9.25%.

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