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Loan Details
Micro Finance Loans
Financial support for short-term requirements and gainful business activities.
Purpose
- To meet the short-term requirements or to pursue gainful activities.
- As a working capital / loan for his / her business activity.
Quantum of Loan / Amount
- Up to Rs.60000/-
Margin
- NIL
ROI
Interest Rate
Fixed @ 16.00% p. a at monthly rest.
Documents / Income Proof
- Existing Micro finance loan application form
- Photograph of the Borrower
- Pan card of the Borrower (Compulsory)
- Aadhaar Card / Voter ID (Address on address proof and Ration should be same) of the Borrower
- Ration card (Compulsory) / Income certificate / Income proofs / Bank passbook.
- One business proof to be obtained on record.
- Loan to be granted only to the borrowers who maintain SNDLMF A/c with our Bank and repayment shall be through such SNDLMF A/c only.
- Declaration from customer - income declaration
Security
- NIL
Surety
- Minimum 1 guarantor per loan (Good for the loan amount)
- One person can guarantee maximum 2 to 3 loans.
Tenure / Repayment
- Up to 5 Years (60 Months)
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