Micro Finance Loan Scheme
Features
Rates & Charges
Repayment
Eligibility Criteria
Documents Required
Features
- Micro Finance Loan
- Eligibility – One loan per Ration card per family
- Purpose –
- To meet the short term requirements or to purpose gainful activities.
- As a working capital / loan for his / her activity.
- For purchase of any consumer items, house repairs, medical expenses, education and any other need.
- Loan Quantum – Maximum Rs 1.00 Lakh
- Income Criteria – Annual Household Income up to Rs 3.00 Lakh
Rates & Charges
- Rate of Interest – 15%
Repayment
- Repayment Period – Maximum 5 Years.
Eligibility Criteria
- Applicants should be Businessmen, professionals, or Self Employed.
- The applicants should have completed 18 years.
- The applicant’s proportionate amount to monthly take-home Net income (NP + Depreciation + TL Int.) of last year, including proposed loan EMI, should not be less than 1/3rd, as per income tax returns.
Documents Required
- Proof of identity
- Proof of address
- Proof of income (Salary slips of the last 3 months)
- 5 PDC’s & Standing instructions of Saving/ Current Accounts / Ecs.
- Search report of property having clear & marketable title.
- Valuation report of valuer on our panel.
- KYC of Applicant & Guarantor(s)
NOTE:
( All other applicable rules & regulations in force should be fullfilled for eligibility.* )
