Utkarsh Asha

If you are looking for a large ticket size loan to meet your working capital requirements then Utkarsh Asha could just be the right choice. These loans range from 80,000 to 1,00,000.The minimum repayment tenure is 24 months while the maximum repayment tenure is 36 months.

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  • Only married women aged between 21 to 55 years as on date of application

  • Household having an annual income up to 3,00,000 and 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 18-59 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

  • Client/guarantor must be in good health

  • Evaluation by 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

* T&C Apply
  • The centre may be started with a minimum of two (02) groups i.e., with ten (10) women and a maximum of six (06) groups i.e., 30 women with five (05) women in each group.

  • Every women of 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's place.

  • The group member's business should be in Bank's area of operation. All group members of the centre must agree and be willing to give mutual guarantee for other members' Loans. No blood/kin relatives should be in the same group.

  • In a centre one pair of blood/kin relative may be allowed for every ten (10) members in a centre. 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 in no circumstances, more than one pair of "saas-bahu" are allowed in a centre.

  •   Rate of Interest: 25% per annum on reducing balance basis

  •   Processing fee 1% of Loan Amount plus GST for Loan Amounts more than 25,000

  •   No Prepayment Charges

  •   In case of delayed payments, the Bank shall charge interest at the rate applicable to the facility on overdue principal

  • Loans available from 80,000 up to 1,00,000

  • Credit Life Insurance for the Client and Guarantor at their consent

  • Weekly/fortnightly/bi-fortnightly repayment options available

  • Mutual guarantee of centre members

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Loan calculator

Amount ()

1 Lac

10 Cr

Tenure ( )

1 Month

120

Interest Rate (%)

1%

31%

line-chart-pattern-bg
Equated Monthly installments (EMI)

2,10,651

Need more Information?
Deposit Amount
Interest Earned

Interest Rate

8.00%

Interest Earned

3,50,452

Maturity Value

13,50,452

Maturity Date

20 Apr 2023

(Indicative interest rates for calculation only. click here for latest rates.)

FAQs

The loans can be disbursed in branch office as well as in centre. There is no need for physical visit of guarantor at branch if PID type of both client and guarantor is Aadhar. At the time of disbursement, the presence of members, guarantor, BOM/CSO, and BM/ABM is mandatory for disbursement through Web. The presence of guarantor is not required in case of disbursement through Trucell.

The loan amount will be credited or e-transferred in the client's Bank Account.

The maximum repayment period allowed for loan amount up to 20,000 is either 1 or 2 Years and for loan amount above 20,000 is either 2 or 3 years. The repayment frequency may be weekly, fortnightly, or bi-fortnightly as chosen by the client.

No, the scheme does not require any security or margin.

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