What is the procedure for loan disbursement?
The loans shall be disbursed in branch office only and all the concerned people 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 is the repayment plan?
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.
Does this facility require any security or margin?
No, the scheme does not require any security or margin.