Term Loan
-
Loan Limit
up to 20,00,000 to 30,00,000 -
Self Contribution
5% -
Loan From
NMDFC - 90%
MAMFDC - 5% -
Interest @
6% p.a.+ 2 % Guarantee fee = 8 %
M : 8 + 2 = 10 %
F : 6 + 2 = 8 % -
Repayment Period
5 Years -
Insurance
3% of total loan amount will be deducted at the time of disbursement from sanction loan amount -
Income Limit
Credit Line 1 : Urban – less than 120,000 Rural – less than 98000 Credit Line 2 : Upto 8 lakhs
Eligibility
- • The beneficiary should be from the minorities community i.e. Muslim, Sikh, Christians, Parsi, Buddhist, Jain and Jews.
- • The beneficiary should be resident of State of Maharashtra.
- • Beneficiary should be literate
- Age limit for business loan : minimum 18 years.
- Maximum age limit for general applicant – 4 5 years
- Maximum age limit for widows and Divorcés woman applicant - 50 years
- Family annual Income
- Urban Area - Rs.1,20,000/- & below.
- Rural Area - Rs.98,000/- & below.
Required Document of Guarantor
- Color Passport Size Photo.
- Photo ID Proof - Election Card / Pan card / Passport / Adhaar Card / Driving License (Any one).
- Residential proof - Election Card/ Passport / Driving License / Domicile Certificate / Electricity Bill (Any One).
- Legal documents of property to be mortgage such as copy of 7/12, PR Card etc Valuation Certificate of the said property,
- Affidavit (in Prescribe format)
Required Document of Applicant
- Color Passport Size Photo.
- Photo ID Proof - Election Card / Pan card / Passport / Adhaar Card / Driving License (Any One).
- Residential proof - Election Card/ Passport / Driving License / Domicile Certificate / Electricity Bill (Any One).
- Income Certificate issued by competent authority.
- Date of Birth Proof (School Leaving Certificate / Birth Certificate / Passport).
- Aadhaar Card
- Quotations for goods/ articles required for proposed business,
- Proof for availability of business premises/ shop
- Xerox Copy of Bank Passbook