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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.50,000/-
Above Rs.50,000/- upto Rs.5.00 lacs
Above Rs.5.00 lacs upto Rs.25.00 lacs
Above Rs. 25.00 Lakhs
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MCLR + 0.50%
MCLR + 1.00%
MCLR + 1.50%
MCLR + 2.00%
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Processing Charges
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* Rs.120/- per lakh (0.12%) or part thereof subject to maximum Rs.20000/-
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Documentation Charges
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* NIL
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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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