Bhartiya Mahila Business Bank Loan
Bhartiya Mahila Business Bank Loan’s recognition is to offer economic help to underprivileged women. Women below this scheme can avail mortgage up to Rs 20 crores that are to be repaid in seven years. Under the Credit Guarantee Fund Trust for Micro and Small Enterprises, there may be no want for collateral for loans as much as Rs 1 crore.The base charge of interest on this loan is 10.25 per cent to which an additional 2 per cent is added, making the rate of interest 12.25 per cent.In an inspiring story mentioned in yourstory.com, Nirmala Devi became financially independent by receiving a loan of Rs 25,000 from Bharatiya Mahila Bank to set up a shop in Aant village. Similarly, the bank additionally allotted Rs five lakh to a women entrepreneur in Gujarat to make chocolate bouquets.
Bhartiya Mahila Bank is a public sector banking company set up in the year 2013. Bharatiya Mahila Bank (BMB) began with the vision of promoting financial opportunities for women and to set a way towards ladies’ economic empowerment. The bank makes a stage for woman entrepreneurs to get business credits. These business loans are planned for most business purposes to meet the prerequisite of working capital or for business extension. Bharatiya Mahila Bank offers a loan add up to the most extreme estimation of Rs. 20 Crores to manufacturing enterprises. Special business loans with a rewarding rate of interest have been offered by the Bharatiya Mahila Bank and furthermore gives security let loose advance to Rs. 1 crore under CGTMSE cover.
The following are some of the primary highlights and advantages of applying for a business loan with Bhartiya Mahila Bank Business Loan
- The women business people offered a concession of 0,25% in loan fee.
- A combo of working capital and term credit.
- The reimbursement residency is adaptable as it very well may be flexible as long as 7 years.
- There is no requirement for security for the credit sum up to Rs. 1,00,00,000.