Only married women
Age of the client:
- First cycle loan: Age should be from 21 to 55 years at the date of application of first cycle loan.
- Subsequent cycle loan: Age of the client should not be more than 59 years for the subsequent cycle loan.
Business shall have regular cash flow (Daily, Weekly, Fortnightly)
At least 3 years stay in the same location.
Family of the potential client has sound knowledge and understanding of business for which loan is required.
Business (for which loan is required) should be in control of family members staying in the same household
Business should be within the branch area.
Client must be in good health
Willingness and ability to pay.
Not have a household member who is an active Utkarsh borrower.
The key principle is one Loan per household at a particular point of time.
The centre should start with a minimum of 10 women and maximum of 30 women with 5 members in each group.
Every member of the centre must be residing with her immediate family (husband/children/parents)
The members’ business should not only be in the branch’s area of operation, but also within a close proximity of each other.
All members of the centre should be agreeable and willing to give guarantee of repayment of other members’ loans.
No blood/kin relatives shall be in the same group.
Maximum of 1 pair of blood/kin relative will be allowed for every 10 members in a centre. However in the beginning two pairs of kin relatives are allowed in a centre of 15 clients and in no circumstances more than one pair of “Saas - bahu ” are allowed in a centre.
||No. of kin relatives in a centre
Maximum of 10% of members in a centre could be rental. Not more than 1 rental in any group.
What is the procedure for loan disbursement?
The loans should be disbursed in branch office only and the client, the
guarantor, the credit officer, the cashier and branch manager need to be
present during the disbursement
In what form will I receive the loan amount?
The loan amount will be transferred in the Bank A/C at the branch office. The
repayments will also be done in the Bank A/C at the branch office.
What’s the pre-payment and advance repayment plan?
Please find the details of the same below:
|Prepayment (No. of Installment) under weekly scheme
||Prepayment (No. of Installment) under fortnightly scheme
||Prepayment (No. of Installment) under monthly scheme
||Next Loan Eligibility
|Before 30th Installment or on the date of 30th Installment
||Before 15th Installment or on the date of 15th Installment
||Before 8th Installment or on the date of 8th Installment
From 30th and before 50th Installment or on the date of 50th
From 15th and before 25th Installment or on the date of 25th
From 8th and before 15th Installment or on the date of 15th
||Lower/equivalent amount in the same cycle
|After 50th Installment
||After 25th Installment
||After 15th Installment
||Higher amount in the next cycle
Is the credit life insurance free?
No, the credit life insurance is not free. However, the fee is only 1% of the
loan amount + GST (18%).