If you are planning to start a small-scale business and are looking for a small group loan, look
no further! Utkarsh Pragati loan offers you a group loan, tailor-made for such requirements.
These loans range from ₹ 1,00,000 to ₹ 3,00,000. The maximum repayment tenure for such loans
is 24/48 months. Loans up to ₹ 1,00,000 are for 12/24 months and above ₹ 1,00,000 are for 24/36
months.
Only married women aged between 21 to 55 years as of the date of application.
Households having an annual income of up to ₹ 3,00,000 and the percentage of 'Monthly Debt Obligations' towards all existing loans as well as the loan under consideration to 'Monthly Household Income' should not be more than 50%
Must be able to provide one male/female guarantor aged between 18-55 years who must be a part of the borrower's individual household unit, i.e., husband, wife and their unmarried children
Business must have regular cash flow (daily, weekly, fortnightly, monthly)
At least three (3) years stay in the same address
The family of the potential client must have sound knowledge and understanding of the business for which the loan is required.
Business (for which the loan is required) should be in the control of family members staying in the same house
Business should be within the Bank branch's area of operation
The client/guarantor must be in good health
Evaluation by the Bank indicates willingness and ability to pay
Should not have a Household member who is an active Utkarsh borrower. The key principle behind this is to have only one Loan per household at any given point in time
The centre may be started with a minimum of two (02) groups i.e., with Fourteen (14)women and a maximum of five (05) groups i.e., (35) women with seven (07) women in each group.
Every woman in the group must be residing with her immediate family members (Immediate family means husband and /or children, and/or parents and/or in-laws) and within a radius of 500 meters from the centre meeting place.
The group member's business should be in the Bank's area of operation. All group members of the centre must agree and be willing to give mutual guarantees for other members' Loans. No blood/kin relatives should be in the same group.
In a centre, one pair of blood/kin relatives may be allowed for every seven (07) members. However, initially, two kin relatives (which only includes wives of two real brothers staying separately) may be allowed in a centre of 15 clients and under no circumstances, more than one pair of 'saas-bahu' are allowed in a centre.
Only married women aged between 21 to 55 years as of the date of application.
Households having an annual income of up to ₹ 3,00,000 and the percentage of 'Monthly Debt Obligations' towards all existing loans as well as the loan under consideration to 'Monthly Household Income' should not be more than 50%
Must be able to provide one male/female guarantor aged between 18-55 years who must be a part of the borrower's individual household unit, i.e., husband, wife and their unmarried children
Business must have regular cash flow (daily, weekly, fortnightly, monthly)
At least three (3) years stay in the same address
The family of the potential client must have sound knowledge and understanding of the business for which the loan is required.
Business (for which the loan is required) should be in the control of family members staying in the same house
Business should be within the Bank branch's area of operation
The client/guarantor must be in good health
Evaluation by the Bank indicates willingness and ability to pay
Should not have a Household member who is an active Utkarsh borrower. The key principle behind this is to have only one Loan per household at any given point in time
The centre may be started with a minimum of two (02) groups i.e., with Fourteen (14)women and a maximum of five (05) groups i.e., (35) women with seven (07) women in each group.
Every woman in the group must be residing with her immediate family members (Immediate family means husband and /or children, and/or parents and/or in-laws) and within a radius of 500 meters from the centre meeting place.
The group member's business should be in the Bank's area of operation. All group members of the centre must agree and be willing to give mutual guarantees for other members' Loans. No blood/kin relatives should be in the same group.
In a centre, one pair of blood/kin relatives may be allowed for every seven (07) members. However, initially, two kin relatives (which only includes wives of two real brothers staying separately) may be allowed in a centre of 15 clients and under no circumstances, more than one pair of 'saas-bahu' are allowed in a centre.
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