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Empower your business with Our Micro Loan. Tailored for entrepreneurs and small businesses, our flexible loan fuels your ambitions. From startup ventures to expansions, we provide working capital and essential asset financing. Maximize success with our guidance and support services. Ignite your potential today and achieve lasting prosperity. Apply now for the power of microfinance in unlocking your brightest business future.

Feature

Salient Features

Ticket Size: 5,000 – 100,000
Loan Tenure: 1 Year
Interest Rate: Will be applicable as per extant rates as advised by ALCO
Nature of Interest Rate: Diminishing
SMS Alerts: Available at time of disbursement, and installment payment
Note: Loan features may vary depending on geography to manage risk.

Security

Type: Unsecured loan
guarantee: Mandatory

Disbursement and Repayment

Disbursement Mode: Through Savings Bank account
Disbursement Frequency: 1 Tranche
Repayment Frequency: Daily/Weekly/Fortnightly/Monthly
Mode of Repayment: Meeting/Agent Banking
Foreclosure option: Available - Client can pre-close loans at any point of time within the tenure of loan without any penalty

Charges

Processing Fee: Up to 1.75% plus Service charge prescribed by Government
Life Insurance (Credit Shield): Available - rates applicable to the insurance scheme
Late repayment and prepayment - No charge

Basic Features

Eligibility Criteria

Age Limit: 18 – 65 years
Domicile Status: Own / Rented with Minimum 1 Year of stay
Nominee Required
Eligibility criteria may vary depending on geography to manage risk.
Show Business Mandatory

Pre-sanction Document List

Photograph
Valid KYC – Preferably: Aadhaar card, Pan Card, Bank Passbook

Co-Applicant

Aadhar Card, Pan Card, Photograph

Credit Assessment

AML / Credit Bureau verification
KYC Verification
Total indebtedness for the customer (as per credit bureau report) should not exceed the limits specified by RBI norms for JLG/SHG loans.

Swaminatham helps the rural people who are not self-reliant and deprived of banking facilities to move ahead on the path of development by providing various services

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