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, Utkarsh Kiran JLG is the perfect fit for you. With minimum processing fees and credit insurance in place, Utkarsh Kiran is the loan scheme you need to take your business to new heights.

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Key Features
Client Eligibility
Group Eligibility Criteria
FAQs
Fees and Charges

Loans available from Rs. 40,000 up to Rs.75,000
Credit Life Insurance for the Client and Guarantor at their consent
Weekly/fortnightly/monthly repayment options available
Mutual guarantee

Only Women
Must be married
Age should be from 21 to 55 years as on the date of the loan application
Must be able to provide one guarantor aged between 18-59 years who are in kin-relation of the client
Business shall have regular cash flow (daily, weekly, fortnightly, bi-fortnightly)
At least 3 years stay in the same house at the same place.
The family of the potential client must have sound knowledge and understanding of business for which loan is required.
Business (for which loan is required) should be in the control of family members staying in the same house.
Business should be within Bank branch’s area of operation.
Client/guarantor must be in good health.
Evaluation by bank indicates willingness and ability to pay.
Not having a Household member who is an active Utkarsh borrower. The key principle is one Loan per household at any point of time.

The centre may be started with a minimum of 2 groups (10 women) and a maximum of 6 groups (30 women) with five members in each group.
Every member of the group must be residing with her immediate family (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 place.
The group members’ business should be in Bank’s area of operation. All group members of the centre must be agree and willing to give a guarantee for repayment of other members’ Loans. No blood/kin relatives should be in the same group.
One pair of blood/kin relative may be allowed for every 10 members in a centre. However, in the beginning, two kin relatives (which only includes wives of two real brothers staying separately) are allowed in a centre of 15 clients and in no circumstances, more than one pair of “saas-bahu” are allowed in a centre.

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 repayment plan?

The maximum repayment period allowed is 2 years. The repayment frequency may be weekly, fortnightly or bi-fortnightly as may be chosen by the client.

23% interest per annum diminishing
Processing fee 1% of Loan Amount plus applicable taxes for Loan Amounts more than Rs. 25,000/-

Key Features
1. Loans available from Rs. 40,000 up to Rs.75,000
2. Credit Life Insurance for the Client and Guarantor at their consent
3. Weekly/fortnightly/monthly repayment options available
4. Mutual guarantee
Client Eligibility
1. Only Women
2. Must be married
3. Age should be from 21 to 55 years as on the date of the loan application
4. Must be able to provide one guarantor aged between 18-59 years who are in kin-relation of the client
5. Business shall have regular cash flow (daily, weekly, fortnightly, bi-fortnightly)
6. At least 3 years stay in the same house at the same place.
7. The family of the potential client must have sound knowledge and understanding of business for which loan is required.
8. Business (for which loan is required) should be in the control of family members staying in the same house.
9. Business should be within Bank branch’s area of operation.
10. Client/guarantor must be in good health.
11. Evaluation by bank indicates willingness and ability to pay.
12. Not having a Household member who is an active Utkarsh borrower. The key principle is one Loan per household at any point of time.
Group Eligibility Criteria
1. The centre may be started with a minimum of 2 groups (10 women) and a maximum of 6 groups (30 women) with five members in each group.
2. Every member of the group must be residing with her immediate family (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 place.
3. The group members’ business should be in Bank’s area of operation. All group members of the centre must be agree and willing to give a guarantee for repayment of other members’ Loans. No blood/kin relatives should be in the same group.
4. One pair of blood/kin relative may be allowed for every 10 members in a centre. However, in the beginning, two kin relatives (which only includes wives of two real brothers staying separately) are allowed in a centre of 15 clients and in no circumstances, more than one pair of “saas-bahu” are allowed in a centre.
FAQs

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 repayment plan?

The maximum repayment period allowed is 2 years. The repayment frequency may be weekly, fortnightly or bi-fortnightly as may be chosen by the client.
Fees and Charges
1. 23% interest per annum diminishing
2. Processing fee 1% of Loan Amount plus applicable taxes for Loan Amounts more than Rs. 25,000/-