The special loan is for women who are involved in emerging entrepreneurial enterprises and supplementary income generating activities but suffer from shortage of capital and are not eligible for banking assistance.
Loan amount | INR 31,000- 60,000 | ||
Tenure/duration | 12 or 24 months, depending upon the repayment ability and the borrower's choice as per RBI directives | ||
Instalments frequency | Weekly | Fortnightly | Monthly |
For tenure/duration of 12 months | 46 instalments | 22 instalments | 11 instalments |
For tenure/duration of 24 months | 106 instalments | 53 instalments | 26 instalments |
Rate of interest | 24.5% until 25 October 2022; 27% (reducing) from 25 October 2022 onwards. The interest range is 23% to 27%. | ||
Processing fee | 2% of the loan amount plus applicable GST | ||
Insurance / loan processing fees | INR 4.50 for per INR 1,000 per year plus applicable GST | ||
Admission fee | Rs 25 inclusive of GST | ||
Admin fee | 0.6% of the loan amount plus applicable GST | ||
Security deposit | NIL | ||
Penalty for late payment | 2 on the overdue amount plus applicable GST | ||