Central Bank of India offers women loan to generate continuous and sustainable employment opportunities for women entrepreneurs. If you are a woman of age above 18 years, then here is an opportunity for you. Most relevant is that there is no income ceiling for this loan.
And, the loan could be Overdraft, Cash Credit working capital limit, Term Loan, Non Fund Based Limit (for Working Capital as well as Term Loan).
Quantum of women loan:
You can avail maximum of Rs.100.00 Lakhs as loan amount. However, there is a margin of 20%.
Rate of Interest and Processing Charges:
For rate of interest, please contact bank direct. And, most of all, you don’t have to pay any processing charges for availing Cent Kalyani.
- For Working Capital : You will have to repay on demand;
- And, for Term Loan: You get Maximum 7 years including moratorium period of 6 Months to 1 year to repay your loan.
- The only security is Hypothecation of stocks and receivables and all assets created out of Bank’s fund.
- You don’t have to give any Collateral OR third party guarantee for this loan.
- Also, you get a guarantee cover under CGTMSE.
- All your KYC documents; also, name changed after marriage to be kept in record.
- Standard Application form approved by IBA (available on website)
- Balance Sheets for the past 2 years along with estimated and projected Balance Sheets and other financial statements, wherever applicable.
- Letter of Hypothecation, Letter of interest, Letter of Continuity & Letter of Understanding by Borrower
- DP Note
- Disclosure of names of borrower in case of default.
Recommended Read : What are the loans for women entrepreneur in India to start their business?