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SHG COVID SAHAYA LOAN

SHG COVID SAHAYA LOAN

Parameter

Norms

Applicability Existing Self Help groups (SHGs) with satisfactory track record and who have availed a minimum of two doses of credit.
Eligibility All existing facilities should be in “Standard” category
Purpose To meet the emergent needs of SHG members in wake of COVID- 19 outbreak.
Loan Amount @ Rs. 5000/- per member

Maximum ceiling per group : Rs. 1,00,000/-

Rate of Interest 1 Yr MCLR presently 8.25% p.a.
Period Maximum 36 months.
Moratorium period Maximum 6 months
Security No collateral security.
Processing Charges & other charges NIL
Validity Scheme is valid upto 30.09.2020.
Other details
Acceptable Mode of Submission of Request for Credit facility By E Mail / In-Person to the Branch /

Through Bank Mitra / FBC

Documents required 1.   Duly filled in Application form

2.   Copy of Group resolution

Helpline Numbers & Email ID for queries, facilitations and Grievances. Mobile: +917305898992 / +919931094920

Email: ibcovidresponse@indianbank.co.in

Timeline for appraisal, sanction, documentation / disbursement Within 6 working days from the date of receipt of application by Branch.
Frequently Asked Questions (FAQs) Click here for FAQs about IND COVID SHG SAHAYA LOAN

( Last modified on May 16, 2020 at 05:05:32 PM )