Utkarsh Kiran

Is arranging business capital the key hurdle in your dream? At Utkarsh Small Finance Bank we strive to help our customers meet all their capital needs, so that they can walk their path towards their goal, with more confidence. If you’re looking for rural credit schemes, UtkarshKiran JLG is the perfect fit for you. With minimum processing fees and credit insurance in place, UtkarshKiran is the loan scheme you need to take your business to new heights.

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Key Features
Eligibility
Group Eligibility Criteria
Fees and Charges
FAQs

23% interest per annum
1% processing fee + GST
Loans available from Rs. 25,000 up to Rs.60,000
Credit life insurance for the client and guarantors
Weekly/fortnightly/monthly repayment options available
Mutual guarantee

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.

Sr. No.	Centre Size	No. of kin relatives in a centre
1	10	1
2	15	2
3	20	2
4	25	2
5	30	3

Maximum of 10% of members in a centre could be rental. Not more than 1 rental in any group.

Loan Amount	Loan Processing Fee (Included GST)	Insurance Fees	No. of instalment(Weekly)	Total interest payble during the Loan period (Weekly)	No. of instalment (Fortnightly)	Total interest payable during the loan period (Fortnightly)	No. of instalment (By-fortnightly)	Total interest payble during the Loan period (By Fortnightly)
25000	Not Aplicable	516	104	6261	52	6365	26	6400
30000	354	620	104	7505	52	7618	26	7670
35000	413	723	104	8749	52	8870	26	8900
40000	472	826	104	10034	52	10123	26	10405
50000	590	1033	104	12543	52	12630	26	12945
60000	708	1239	104	15030	52	15134	26	15340

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 payment.

In what form will I receive the loan amount?
The loan amount will be credited in Bank A/C of the customer. The repayments will also be done in cash 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	Amount Entitled
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	Not Eligible	NA
From 30th and before 50th Installment or on the date of 50th Installment	From 15th and before 25th Installment or on the date of 25th Installment	From 8th and before 15th Installment or on the date of 15th Installment	Eligible	Lower/equivalent amount in the same cycle
After 50th Installment	After 25th Installment	After 15th Installment	Eligible	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 1.5% of the loan amount + GST (18%).

Key Features
1. 23% interest per annum
2. 1% processing fee + GST
3. Loans available from Rs. 25,000 up to Rs.60,000
4. Credit life insurance for the client and guarantors
5. Weekly/fortnightly/monthly repayment options available
6. Mutual guarantee
Eligibility
Only married women

Age of the client:
1. First cycle loan: Age should be from 21 to 55 years at the date of application of first cycle loan.
2. 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.
Group Eligibility Criteria

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.

Sr. No. Centre Size No. of kin relatives in a centre

1 10 1

2 15 2

3 20 2

4 25 2

5 30 3

Maximum of 10% of members in a centre could be rental. Not more than 1 rental in any group.

Fees and Charges

Loan Amount	Loan Processing Fee (Included GST)	Insurance Fees	No. of instalment(Weekly)	Total interest payble during the Loan period (Weekly)	No. of instalment (Fortnightly)	Total interest payable during the loan period (Fortnightly)	No. of instalment (By-fortnightly)	Total interest payble during the Loan period (By Fortnightly)
25000	Not Aplicable	516	104	6261	52	6365	26	6400
30000	354	620	104	7505	52	7618	26	7670
35000	413	723	104	8749	52	8870	26	8900
40000	472	826	104	10034	52	10123	26	10405
50000	590	1033	104	12543	52	12630	26	12945
60000	708	1239	104	15030	52	15134	26	15340

FAQs

In what form will I receive the loan amount?
The loan amount will be credited in Bank A/C of the customer. The repayments will also be done in cash 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	Amount Entitled
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	Not Eligible	NA
From 30th and before 50th Installment or on the date of 50th Installment	From 15th and before 25th Installment or on the date of 25th Installment	From 8th and before 15th Installment or on the date of 15th Installment	Eligible	Lower/equivalent amount in the same cycle
After 50th Installment	After 25th Installment	After 15th Installment	Eligible	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 1.5% of the loan amount + GST (18%).