Utkarsh Kiran

At Utkarsh Small Finance Bank, we strive to help our customers meet their increasing capital needs, enabling them to a step towards their financial goal, with confidence. If in the subsequent cycle loans, you’re looking for higher ticket size loans, Utkarsh Kiran may be the fit for you. These loans range from 35,000 to 75,000. The minimum repayment tenure is 24 months and the maximum repayment tenure is 36 months.

Client Eligibility
Group Eligibility Criteria
FAQs
Fees and Charges
Key Features

Only married women aged between 21 to 59 years as on date of application
Household having annual household 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 borrower’s Household family unit, as husband or wife or an unmarried children
Business must 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 the 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 withinthe 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 behind this is to have only one Loan per household at any point of time

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 members’ business should be in Bank’s area of operation. All group members of the centre must agree and 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.

What is the procedure for loan disbursement?

The loans shall be disbursed in branch office only and all the concerned i.e. the client, the guarantor, the credit officer, the CSO and branch manager needs to be present during the disbursement.

In what form will I receive the loan amount?

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

What’s repayment plan?

The maximum repayment period allowed is 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.

Does this facility require any security or margin?

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

Rate of Interest: 24% 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

Collateral free loans available from 35,000 up to 75,000
Credit Life Insurance for the Client and Guarantor at their consent
Weekly/fortnightly/bi-fortnightly repayment options available
Mutual guarantee

Client Eligibility
1. Only married women aged between 21 to 59 years as on date of application
2. Household having annual household 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%
3. Must be able to provide one male/female guarantor aged between 18-59 years who must be a part of borrower’s Household family unit, as husband or wife or an unmarried children
4. Business must have regular cash flow (daily, weekly, fortnightly, bi-fortnightly)
5. At least (3) years stay in the same house at the same place
6. The family of the potential client must have sound knowledge and understanding of the business for which loan is required.
7. Business (for which loan is required) should be in the control of family members staying in the same house
8. Business should be withinthe Bank branch’s area of operation
9. Client/guarantor must be in good health
10. Evaluation by bank indicates willingness and ability to pay
11. Not having a Household member who is an active Utkarsh borrower. The key principle behind this is to have only one Loan per household at any point of time
Group Eligibility Criteria
1. 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.
2. 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.
3. The group members’ business should be in Bank’s area of operation. All group members of the centre must agree and willing to give mutual guarantee for other members’ Loans. No blood/kin relatives should be in the same group.
4. 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.
FAQs

What is the procedure for loan disbursement?

The loans shall be disbursed in branch office only and all the concerned i.e. the client, the guarantor, the credit officer, the CSO and branch manager needs to be present during the disbursement.

In what form will I receive the loan amount?

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

What’s repayment plan?

The maximum repayment period allowed is 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.

Does this facility require any security or margin?

No, the scheme does not require any security or margin.
Fees and Charges
1. Rate of Interest: 24% per annum on reducing balance basis
2. Processing fee: 1% of Loan Amount plus GST for Loan Amounts more than 25,000/-
3. No Prepayment Charges
4. In case of delayed payments, the Bank shall charge interest at the rate applicable to the facility on overdue principal
Key Features
1. Collateral free loans available from 35,000 up to 75,000
2. Credit Life Insurance for the Client and Guarantor at their consent
3. Weekly/fortnightly/bi-fortnightly repayment options available
4. Mutual guarantee