Syndicate bank’s new scheme eyeing on women welfare
Posted on: 29/Oct/2014 1:07:03 PM
As a move to help Indian women to start their own business and to fund their dream of constructing own homes, Syndicate bank has come up with a new loan scheme. Here is an excerpt from their announcement:
‘Synd Mahilasakthi’ and ‘Sindkutheer’ are the two new loan schemes they have initiated.
Synd Mahilasakthi:
The scheme ‘Synd Mahilasakthi’ will help women obtain loans for commencing new businesses. This can also be used for expanding their existing business or to improve their investments. Under this scheme, women can avail loans up to Rs 5 crore. The interest rate for loans up to Rs 10 lakh will be 10.25%. On the other hand, if the loan amount is above Rs 10 lakh, the interest rate will be reduced by 0.25% from the current rate of interest.
Note:
· There is no need for providing any ransom amount for obtaining loan through this scheme
· The beneficiary need not make payment towards any processing or documentation charges
· Beneficiaries will be given necessary trainings if needed
Syndkutheer:
Under this scheme, women from poor income group are eligible to get loan for constructing their own home. For this, it is required for the beneficiary to have their annual income level less than Rs 2 lakh. The loan amount that can be provided through this scheme varies between Rs 5 lakh and Rs 10 lakh.
Interest rate for loans obtained through this scheme is 10.25%. This again does not require any charges for processing or documentation. The loan repayment tenure can be up to 30 years. It is to be noted that beneficiaries obtaining loan through this scheme ought to construct a toilet in their home. Loan will also be provided for affixing solar lamps at homes.
