Sunday, February 25, 2018
Finance
 « Bank Loans

Loans offered by Public Sector Banks to Women

Andhra Bank 

Name of the Loan: AB Mahila Jyothi

The scheme envisages to intend finance to SHGs in community Managed Sustainable Agriculture at villages in the state of Andhra Pradesh.

Coverage:

  All existing, eligible SHGs in Community Managed Sustainable Agriculture villages spread over 304 mandals of A.P shall be covered. New SHGs not linked so far will also be covered after 6 months of regular savings.

Eligibility Criteria: 

Only "A" rated groups as per Critical Rating Index to be financed. Loan limit as per Micro Credit Plan (MCP). Micro credit Plan comprises of the following components:

  • Crop production: Lease amount and working capital requirement of Tenant farmer members.
  • Working capital for owner farmer members.
  • Term Loan for Land development: includes investment for Land development i.e. land leveling, bunding, drilling of bore wells, digging or de-silting of wells, laying / extension of pipe lines etc.
  • Term Loan for Livestock / Dairy: Finance to be extended for purchase of milch cattle, sheep and other livestock.
  • Debt swapping: Debt swapping requirement i.e. for repayment of loans of their members taken from non-institutional lenders (private money lenders) / other Banks subject to 40% of MCP (or) to the extent of debt , whichever is lower
  • Consumption: Health, education, marriage, consumption and other social needs can be financed under this component subject to maximum of 10% of the investment credit (i, ii, iii & iv components).

Aggregate Limits for 1st and 2nd Dosages should not exceed Rs.5.00 Lakhs (Rupees Five Lakhs only). From third Dosage onwards, aggregate limits should not exceed Rs.10.00Lakhs (Rupees Ten Lakhs only).

Role of SERP

  • MOU with SERP / Tripartite agreement with the group, SERP and Branch to be executed.
  • Formation and Identification of groups.
  • Training to SHG members
  • To provide agri-extension services for community Managed sustainable agriculture.
  • Convergence of Community Managed sustainable agriculture and NREGA for taking up water harvesting and soil conservation works on farm land.
  • IT Support by SERP : 
  • Laptops will be provided to village book keepers in all the CMSA villages by SERP.
  • Books of accounts of all SHGs will be maintained electronically in CMSA villages.
  • Crop monitoring through the use of IT. 

Rate of Interest : Click Here 

Repayment schedule : (Applicable to the present scheme only)

  • For 1st and 2nd Dosages, Loan is repayable in 60 monthly installments with a gestation of 6 months. Interest to be repaid as and when debited to the account. (Max. Limit Rs.5.00 Lakhs)
  • For 3rd dosage onwards, loan is to be repaid in 96 monthly installments with a gestation of 6 months. Interest to be repaid as and when debited to the account.

State Bank of Travancore

Name of the Loan: Mahila Vikas Scheme

Purpose:

  • To provide term loan / working capital to units promoted by women entrepreneurs.
  • Only enterprises owned and administered by a woman entrepreneur, having a minimum financial interest of 51% and giving at least 50% of the employment generated to women.
  • Activities Industry / service.

Eligibility:

  • Individuals / Firms.
  • New connections.
  • SBT should be the sole banker to the unit.
  • Takeover of loan is permitted selectively.

Amount: Minimum Rs.50,000 & Maximum Rs.25 lakh.

Period:

  • Term Loan – 60 months
  • Cash Credit - 12 months

Margin:

  • Term Loan – 25%
  • Cash Credit - 20%

Security:

  • Primary - Hypothecation of assets.
  • Collateral - Waived upto Rs.25 lakh.
  • All eligible limits should be covered under CGTMSE.

Repayment:

  • Term Loan – 60 months including start up period of maximum 6 months
  • Cash Credit - Running account.

Rate Of Interest: Click Here

Central Bank of India

Name of the Loan: Cent Kalyani

Purpose of Loan: To generate continuous and sustainable employment opportunities for women entrepreneurs.

Eligibility: Woman Entrepreneurs, above 18 years of age. No income ceiling for assistance.

Nature of Facility : The facility may be Overdraft / Cash Credit working capital limit/ Term Loan / Non Fund Based Limit (for Working Capital as well as Term Loan).

Quantum of finance : Maximum Rs.100.00 lac.

Margin : Margin is 20%

Rate of Interest : Click Here

Upto Rs. 10 lacs: MCLR +0.25 %. + Tenure Premium wherever applicable
Rs. 10 lacs to Rs. 100 lacs(maximum): MCLR+0.50%+ Tenure Premium wherever applicable

For Term Loan Tenure Premium (including moratorium) will be as under:

  • 1 years upto 3 years: 0.20 premiums
  • 3years upto 7 years: 0.40 Premium

Processing Fee : Nil

Repayment:

  • Working Capital : On demand
  • Term Loan: Maximum 7 years including moratorium period of 6 Months to 1 year

Security:

Hypothecation of stocks and receivables and all assets created out of Bank's fund. No Collateral OR third party guarantee required. Necessarily to be covered under CGTMSE.CGTMSE coverage is applicable to units except Retail Trade (categorized as small services), Educational/Training Institutions, and SHGs.

Documents Required:

  • KYC norms to be ensured. Name changed after marriage to be kept in record.
  • Standard Application form approved by IBA (already circulated and is available in website)
  • Balance Sheets for the past 2 years along with estimated & projected Balance Sheets and other financial statements, where ever applicable.
  • Letter of Hypothecation, Letter of interest, Letter of Continuity & Letter of Understanding by Borrower
  • DP Note
  • Disclosure of names of borrower in case of default to be obtained.

Syndicate Bank

Name of the Loan: Synd Mahila Shakthi

Target Group: New/Existing Women Entrepreneurs

Purpose:

Cash Credit

  • To meet working capital requirements for existing or new units.

Term Loan

  • To set up a unit/business either manufacturing or service enterprise qualifying under Micro, Small and Medium Enterprises.
  • To upgrade existing units by purchase of machineries/equipments /computers/vehicles etc.,

Eligibility:

  • Woman with Technical Educational Background/Diploma/Graduate having knowledge/experience in the line of activity or business.
  • Woman Entrepreneurs having knowledge /experience in the line of activity or business.
  • Individuals/proprietorship concern/partnership concern with woman in the lead having atleast 50% of financial holding.
  • Private Ltd. companies with woman as Managing Director/a Director in a key position.

Quantum of Finance: Maximum of Rs. 5.00 Crore.

Rate of Interest: Click Here

  • Upto Rs. 10.00 lakh –Base rate (Presently 10.25 % )
  • Above Rs. 10.00 lakh - 0.25% concession on applicable rate of interest on our other MSME products.
  • All Micro Enterprises will get rebate of 0.50 % in rate of interest for prompt repayment to be reimbursed at the time of closing the loan account. However, the final rate of interest after concession shall not be below base rate in any case.

Margin: 15%

Security: 

Loans covered under CGMSE:

  • Hypothecation of equipments/ machinery / vehicle/ stock purchased out of Bank finance.
  • Primary security/mortgage of land and building associated with the business shall be obtained.
  • No collateral security and/ or third party guarantee shall be obtained.

Loans not covered under CGMSE: 

  • Hypothecation of equipments/ machinery / vehicle/ stock etc purchased out of Bank finance.
  • Primary security /mortgage of property associated with the business.
  • Collateral Security in the form of mortgage of immovable property having value not less than 50% of the limit sanctioned. 

Repayment:

Working Capital : To be renewed annually and interest to be serviced monthly.
Term Loan: Maximum repayment period of 7 to 10 years including repayment holiday/ moratorium period.

Punjab National Bank

Name of the Loan: PNB Power Rode- Scheme for Financing Two Wheelers to Women

Purpose: For purchase of new Two wheelers viz.: Scooter(s), Motor cycle(s), Moped(s), (subject to Registration of vehicle with RTO).

Eligibility:

  • Salaried with minimum 6 months service.
  • Self employed with experience of more than one year.
  • Student with their parents/guardian as co-borrowers.

Note: Individuals should be in the age group of 18 years to 65 years and should hold valid driving license. In case of students age of parents/ guardian is to be considered and in that case driving license may be in the name of Student/ Parents/ Guardian.

Income Criteria:

  • Minimum Net Monthly Income of Rs. 8,000/- p.m.
  • In case of students, Income/salary proof of parent/ guardian who will be co-borrower be considered.

Proof of Income :

  • Latest 3 salary slips along with Form 16/ ITR of previous year in the case of salaried borrowers.
  • ITR of previous year in the case of self employed individuals

Quantum Of Finance: Need based Max Rs 60000.00

Margin: 10% of ex-showroom price

Security: Hypothecation of 2 wheeler financed from bank loan Guarantee acceptable to bank as per guidelines

Repayment (Maximum): Max 36 months

Maximum Permissible deductions – 50% of Net monthly salary/ income

Rate Of Interest: Click Here

Oriental Bank of Commerce

Name of the Loan: Oriental Scheme for Beauty Parlours/ Boutiques/ Saloons/Tailoring by Women

Propose: To develop entrepreneur-ship among women and also to ensure the easy, timely and convenient access to women to institutional credit.

Nature of facility:

  • Term loan: For the purchase of tools/equipment/furniture & fixture, shop etc.
  • Working capital: For running day to day expenses of business

Applicant's Eligibility

  • Proprietary concerns of women
  • Partnership firms, where majority partners are women
  • Companies, where majority of promoters shares are held by women

Loan Amount: Upto Rs. 10.00 Lacs & Out of which WC not to exceed Rs.5.00 lac

Margin:

  • Loan upto Rs.25,000/- - Nil
  • Above Rs.25,000/- & upto Rs.2.00 lac - 15%
  • Above Rs. 2.00 Lac & up to Rs. 10.00 Lacs - 25%
  • In case of purchase of shop the margin will be 25% irrespective of loan limit.

Rate of interest (floating): click here

Security: 

  • Primary: Charge over the assets (movable & immovable) purchased out of Bank's finance.
  • Collateral- Up to Rs. 2.00 Lacs - NIL
  • Above Rs. 2.00 Lacs- Tangible collateral security up to 100% of loan value.

Repayment: For Term Loan- the repayment period is 5 to 7 years with maximum moratorium of 3 to 6 months

Vijaya Bank

Name of the Loan: Vijaya Mangala-Product Linked to Home Loan Customers

Purpose

For meeting short term credit need of the applicants for medical expenses, marriage of applicant/family members, purchase of consumer durables, etc.

Eligibility

Female Housing loan borrower/s or Wife of home loan borrower or In case of joint male borrowers, their wives jointly can avail the loan and The Home Loan having sanction limit of Rs 5.00 lacs

Amount of loan: Maximum loan of Rs 3.00 lacs OR 10% of Home Loan limit sanctioned Whichever is lower.

Security: Personal guarantee of spouse/all co-borrowers of housing loan account and Continuing security of housing loan property already mortgaged to us.

Margin: Nil

Rate of Interest: MCLR 1 year + 3.30% = 11.95% p.a. (floating) Click Here

Repayment: Maximum of 60 EMIs

Updated on: 19/1/2017