India has a large number of micro or small business enterprises which significantly contributes to the economic growth, employment and consumption. However such enterprises lacks access to the required capital to operate their business as compared to the established medium and large sized business enterprises. Short term affordable loans, customized to cater their funding requirements help them to realize their entrepreneurship potential and meet their working capital requirements, business expansion and growth.
In pursuance of its mission and vision and with and with an objective to offer diverse loan products to its borrowers, especially to support the enterprises owned and run by its women borrowers who want to individually having graduated to avail a higher loan amount for business, the Company offers Loan to Individual Traders / Small Business and Micro-enterprises on a pilot basis. The business loan is offered through its selective Direct Lending Branches as individual loan at a highly competitive and affordable rates as compared to the industry.
| Borrower Category | Loan Amount | Interest rate | Processing Fee | GST | Credit Life Insurance | Other charges |
|---|---|---|---|---|---|---|
| Individual | Upto ₹3 Lakh | 22% | 1.5% of the loan amount sanctioned | 18% of the processing fee | ₹0.84 per ₹1000/- of sum assured per month for borrower and co-obligant | NIL |
