Vikas Soura Swawalambana

Vikas Soura Swawalambana Term Loan

Purpose To purchase any solar driven livelihood products which assist their income generating activity under MSME.
Eligibility Permanent Resident of the command Area, engaged in any income generating activity intended to purchase the product to improve his income level.
Target Group Individual/firm engaged in MSME activity
Quantum of Finance Maximum loan amount is Rs.2,00,000/-.
Margin
Loan Amount Margin
Upto Rs.25000/- 10%
Rs.25000 to Rs.50000/- 15%
Rs.50001 to Rs.100000/- 20%
Rs.100001 to Rs.200000/- 25%
Release Directly along with margin money
Rate of Interest 11%pa & OD @ 13%pa
Repayment Period Repayable in 60 EMI
Interest Interest will be capitalized half yearly. Interest shall be recovered along with installment.
Security Primary: Hypothecation of assets purchased out of loan proceeds Collateral(If not covered under CGTMSE): Up to & inclusive of Rs.50000/--No collateral security is required >50000/- -Collateral security by way of Mortgage of Non Agricultural property / NSC/KVP, Deposits , LIC policies / Vehicles : Valued not less than 25% of loan amount
Co-oblignat/ Surety One credit worthy surety acceptable to the Bank (if not covered under CGTMSE)