SMALL BUSINESS LOAN SCHEME
Eligibility
Individual’s, Preferably Women beneficiary
Activities to be Covered
Artisans, village and cottage industries, Food Stall Holder (Competent Authority License to be Required), Vegetables & Fruit Seller etc.
Scope
The Scheme is available for Individuals only.
Purpose of the Scheme
Any type of business need
Maximum Loan Amount
For Artisans Up to Rs. 2 Lakh. & For Other small business Up to Rs. 1 Lakh
Margin
10% – For Artisans & for Others – NIL
Security
Asset to be created out of the bank finance to be charged in favour of the bank
Repayment Period & Terms
Maximum up to 60 months.
Credit Score
700. There should be no default with bank or financial institution
Special Rate of Interest
@ 10.00% p.a.
Linking Shares
Rs.1,500 or 1% of Sanctioned Limit
Guarantors
One creditworthy guarantors
Processing Charges on loan amount
@ 0.50% of Loan Sanctioned Amount.
Other Conditions
1) Saving /Current Account mandatory
2) QR code of our bank should be affix in business place / shop, Mobile App, What’s App banking
3) Applicant age- up to 60 years
4) Permanent address should be of Pune city or district area. (Gas Payment Bill, MSEB Bill, Adhar Card address should be consider for address proof)
5) PMC / Gram panchayat license copy (PMC Receipts) authorized stall vendor document to that effect to be obtained.
6) Udyam Certificate required for Small Artisans,village and cottage industries, Vegetables & Fruit Seller
Documents Required
KYC Documents– OVD as per KYC circular (PAN Card, ADHAR Card, Gas Payment Bill, Ration Card, MSEB Bill, Voter ID)
Income Proof required– Self Declaration or Income Affidavit to be accepted
Documents Required
KYC Documents– OVD as per KYC circular (PAN Card, ADHAR Card, Gas Payment Bill, Ration Card, MSEB Bill, Voter ID)
Income Proof required– Self Declaration or Income Affidavit to be accepted
Branch Head – Due Diligence
1) Visit at Business place & residential premises photograph to be taken.
2) Verify all KYC documents & business & income related documents.
3) Verify the income of applicant