A sum of money which is borrowed to be paid back with interest over a period of time. Individual Entity which borrows a sum of money from the lender and receives a direct benefit or direct interest from the Loan.
FEATURES & BENEFITS :-
- Attractive Interests Rates.
- Provides self-employed women financial assistance to support their business enterprises, such as raising livestock, running local retail shops called Kirana stores, providing tailoring and other assorted trades and services.
ELIGIBILITY :
- Member of the IMPOVERISHED NIDHI LIMITED Holding either single account or joint account with other family members’ viz., father, mother, wife, son, or daughter with a regular source of income.
- Individuals who may be employed/self-employed in business have a regular income.
- Permanent employee of Central/State/Defence//Public or Joint Sector Undertaking/reputed firms/established Educational Inst/Professional/Businessmen having a regular income.
PURPOSE OF LOAN
- Up-gradation, renovation and extension of residential property.
- Medical, emergency expenditure for maintenance of family.
- To meet the Wedding Expenditure.
- Major Surgical operation.
- For expansion of your existing business or begin a dream venture.
- Meeting any other genuine need as may be specified by the Borrower and agreed to by the Lender.
- Planning to start a small Business.
QUANTUM OF FINANCE
- As per eligibility and Income Earning Capacity.
REPAYMENT DETAILS
- By EMI or Regular.
PROCESSING CHARGES & SERVICE TAX
- Processing Fees and Other Charges (Inclusive) PLUS Service Tax as applicable.
SUPPORTING DOCUMENTS FOR LOAN SANCTIONING
- Photo Identity Proof:
- Pass port
- PAN card
- Voters Identity Card
- Driving License
- Residence Proof:
- Telephone Bill
- Letter from any recognized Public Authority
- Electricity Bill
- Ration Card
- Letter from employer subject to satisfaction on Bank
- Properly Tax Book/Receipt
- Registered Lease Deed
- Application on Prescribed form
- Two photographs of Borrower and Guarantors
- Address proof of Borrower and Guarantors (copy of Ration Card, Election card, Telephone bill, Driving License etc.)
- Income proof, Copy of Income Tax Return, Financial Statement of the Firm, Sales Tax returns etc.
- Profile of Guarantors.
- Loan should be guaranteed by three financially sound Guarantors having net individual worth twice the loan amount.
- Any other marketable security.