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Purpose: To meet the short-term/long term credit needs of micro businesses through loans.
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Who can Apply: Individuals / Proprietorship running as Small Manufacturing / Service Units
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Documents Required:
- Udyam Aadhar mandatorily.
- Existing saving/current account holder of our Bank for minimum 6 months for loans up to ₹ 2 lacs and 1 year for loans above ₹ 2 lacs.
- ITR-4 Form for loans above ₹ 2 lacs.
- Quotation required for loans above ₹ 50,000.
Security - Nil, Account will be covered under CGTMSE
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| Maximum Loan: Up to ₹ 10 lakh per customer |
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Interest Rate:
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Tenure
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Rate of Interest (RBLR = 9.35%)
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Up to 3 years
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RBLR + 0.95 % = 10.30 %
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3- 5 years
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RBLR + 0.95 + 0.20 % = 10.50 %
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5 - 7 years
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RBLR + 0.95 + 0.30 % = 10.60 %
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Processing Fee:
• No Processing Charges for Loans up to ₹5 Lakh
• For Loans above ₹5 Lakh – 0.25% of loan amount + GST
Documentation Charges:
• ₹ 2500 for loans above ₹ 2 lacs
API Charges & CGTMSE Fees: As applicable
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