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Purpose of loan
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* To finance SHGs for their internal lending / Group activity.
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Eligibility
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* SHGs
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Nature of facility
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* Revolving Cash Credit/ Term Loan.
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Eligible quantum of CC limit /
Term Loan put together
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* Quantum of limit (fixing of overall limit for 5 years) with maximum of Rs. 10.00 lacs per group
In the initial years of establishment the ratio should be 1: 1 and it can be gradually increased to ratio of 1:4 of savings.
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Interest Rate
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Upto Rs 3,00,000/-
Above Rs 3.00 lakh to Rs 10.00 lacs
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MCLR + 1.35%
MCLR + 2.50%
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Processing Charges
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Upto 25,000/- -NIL
Above Rs 25000/- - @ Rs 120/- per lac or part
thereof,
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Documentation Charges
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Upto Rs 2.00Lakh- NIL
Above Rs 2 Lakh to Rs 10.00Lakh-
Rs 50/- per Lakh or part thereof Max Rs 1000/-
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Period of loan
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* Cash credit limit for 5 years subject to annual review.
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Security
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* NIL
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For further details, please contact our nearest branch.
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