Profitable Business Loan Scheme: Nowadays women are showing interest and actively participating in different businesses. Considering such enthusiastic women, Bharatiya Mahila Bank Business Loan Scheme was started by Bharatiya Mahila Bank. It was linked to the State Bank of India (SBI) in the year 2017. Women can start their business and also increase it further through this scheme. Besides this, a business loan of up to Rs 20 crore is made available for the manufacturing enterprise.
It is to be noted that under Bharatiya Mahila Bank Business Loan Scheme, loans are provided at affordable rates to bank women entrepreneurs. In this way, women can start their own business and become self-sufficient. Let’s know more about this scheme.
What is Bharatiya Mahila Bank Business Loan Scheme?
This scheme has been implemented for women entrepreneurs who are interested to start their new business and SMEs in retail. For this, loans up to a maximum of Rs 20 crores & discount of 0.25 percent is given. The rate of interest on this loan is 10.15% or more.
Bharatiya Mahila Bank Business Loan Scheme: Eligibility
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The women must be an owner of a company
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Partnership firm
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Ltd or Ltd Company
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Co-op Society
Bharatiya Mahila Bank Business Loan: Multiple Benefits
1. Women entrepreneurs are given a concession of 25% in the interest rate.
2. The scheme offers a flexible repayment up to a maximum of 7 years.
3. If your loan is less than the amount, then there is no need to pledge anything in this situation.
Bharatiya Mahila Bank Business Loan: Interest Rate
1. The interest rate of this loan varies from 15 - 13.65 percent annually.
2. Maximum business loan amount is given according to the categories of applicants.
3. A maximum of Rs 5 crore is provided for service enterprises and retail traders.
4. A maximum amount of 20 crores has been fixed for manufacturing enterprises.
