Funding options exclusively for Women
To start a business woman has to face two major problems -
1. Lack of working Capital
2. Non-ownership of Assets
Here we have tried to give a brief information about various loan facility available by different Banks.
You can go through it and compare it which suits you more.
So ladies get up and take a first step towards your own empowerment.
Central Bank of India
Name of the Scheme : Cent Kalyani
- To generate continuous and sustainable employment opportunities for women entrepreneurs.
- The facility may be Overdraft / Cash Credit working capital limit/ Term Loan / Non Fund Based Limit (for Working Capital as well as Term Loan).
-Maximum loan amount Rs.100.00 lac.
Rate of interest :
• Upto Rs. 10 lacs: Base Rate +0.25 %. + Tenure Premium wherever applicable**
• > Rs. 10 lacs to Rs. 100 lacs(maximum): Base Rate+0.50%+ Tenure Premium wherever applicable**
Name of the Scheme: Nari Sakthi
-This scheme is to provide financial assistance to salaried women.
- Concession is offered on interest and the repayment can be made in 5years in equated monthly installments.
Rate of Interest : 12.50% p.a.
Contact Number :079-26579450
United Bank of India
Name of the Scheme : United Nari Saman Yojana
-A special loan scheme to cater to all personal financial needs of women who is either a salaried person or a self-employed/ professional.
-This Scheme is mainly for buying gold ornaments, diamonds, precious stones, purchase of consumer durables/ household goods etc.
-And also to meet the expenses of wedding, domestic trip and other personal expenses.
Rate of Interest: 14.00% p.a.
Contact number : 079-25507031
State Bank of India
Name of Scheme : STREE SHAKTI PACKAGE
- The margin will be lowered by 5% as applicable to separate categories.
• -The interest rate will be lowered by 0.5% in case the loan exceeds Rs 2 lakh.
• -No security is required for loans up to Rs 5 lakh in case of tiny sector units.
Rate of Interest :
Contact Number : 079-26569552
Bank of Baroda
Name of Scheme : Akshaya Mahila Arthik Sahay Yojana
-Enables financial assistance to women in setting up/engaged in:
o Retail Trade.
o Village or Cottage/Small Scale Industries.
o Allied agricultural activities.
-Focus on women business entrepreneurs and their credit requirements.
-The interest rate is fixed on the credit rating system at reasonable terms.
-Simple application procedures.
Rate of Interest:
Contact Number : 079-264731105
Scheme for Professional & self Employed Women
Purchase of Fixed Assets(Term Loan) and for meeting Working Capital needs.
Professional & Self-employed Women
Amount of Loan:
Maximum Total limit Rs.5.00 lacs including Working Capital limit of Rs.1.00 lacs
Rate of Interest :
Contact Number :
Oriented Mahila Vikas Yojana
To meet Credit needs of Women Entrepreneur.
Women Entrepreneurs enterprise consisting of all units managed by one or more in proprietary concerns or in which she/they individually or jointly have a share capital of not less than 51% as partners/ shareholders/ directors of a private ltd. company/members of a co-operative society.
Scheme for Beauty Parlor/ Boutiques/ Saloons/Tailoring
SCHEME FOR BEAUTY PARLOURS / BOUTIQUES / SALOONS / TAILORING BY WOMEN
No collateral security and no guarantee is insisted for loans up to Rs. 10 lakh.
To develop entrepreneur-ship among women and also to ensure the easy, timely and convenient access to institutional credit.
Nature of facility Term loan
For the purchase of tools/equipment/furniture & fixture, shop etc.
For running day to day expenses of business
Applicant's Eligibility • Proprietary concerns of women
• Partnership firms, where majority partners are women
• Companies, where majority of promoters shares are held by women
Loan Amount Upto 10 lacs
Out of which WC not to exceed Rs.5.00 lac
Margin Loan upto Rs.25,000/- Nil
Above Rs.25,000/- & upto Rs.2.00 lac 15%
Above Rs. 2.00 Lac & up to Rs. 10.00 Lacs 25%
In case of purchase of shop the margin will be 25% irrespective of loan limit.
Rate of interest
Scheme for Financing Working Women
Security : Third party Guarantee preferably of Fellow Employee
Margin : NIL
Repayment : Maximum 5 years (EMI)
Punjab National Bank
There are several schemes Punjab National Bank Provides, so we have mentioned all of them
1. PNB MAHILA UDYAM NIDHI SCHEME
To meet gap in equity. The women entrepreneurs will be assisted for setting up of new projects in tiny /small scale sector and rehabilitation of viable sick SSI units. Existing tiny and small scale industrial units and service industries undertaking expansion, modernization technology up gradation & diversification can also be considered.
2. PNB MAHILA Samridhi Yojna
Under This Scheme, four schemes have been launched under the umbrella of one scheme. These are for purchase of required infrastructure for Setting up of
• Tailoring shop/Boutique, i.e. for purchase of Sewing Machines, etc.
• ISD/ STD Booths, i.e. for Security Deposits with MTNL/ other Agencies like Reliance/ Tata Indicom. etc., for purchase of Fax Machine, Xeroxing/ Photocopier Machine, etc.
• Beauty Parlour, i.e. for purchase of Furniture, Chairs, Bench etc.
• Cyber Cafe, i.e. for purchase of Computers and furniture like computer tables, chairs etc. and for recurring expenditure as per the need of the activity
3. Scheme For Financing Creches
To provide support services for women empowerment to working women in terms of creches with necessary services by making cheaper and easier credit available for financing Creches. The women will be assisted for purchase of required infrastructure for setting up Creches like basic equipment, utensils, stationers, growth monitoring equipments, fridge, cooler/fan, water filter, etc. and for recurring expenditure for one month.
4. PNB Kalyani Card Scheme
For meeting working capital credit requirement of allied agricultural activities/ misc farm/non- farm activities either singly or in combination with other activities.The literate/illiterate women dwelling in rural / semi-urban areas who have attained the age of majority shall be eligible under the Scheme. Such Women shall include individuals, farmers, landless labourers, agricultural labourers, tenant farmers, share croppers, lessee farmers, etc. The women desirous of undertaking non-farm sector activities should have aptitude/experience and capability for undertaking the activity chosen for self-employment.
5. PNB Mahila Sashaktikaran Abhiyan
Under this scheme, following concessions will be admissible
• Interest rate to be relaxed by 0.25% in Non-Priority Sector Advances and 0.50% in Priority Sector advances
• Margin to be reduced to 10%, wherever the margin requirement is more than 10%
• Waiver of 50% upfront fee (wherever applicable)
Contact Number : 079-26582267
Name of Scheme : Synd Mahila Shakti
-The bank is extending finance up to Rs. 5 crore per woman beneficiaries at concessional interest rates.
-The beneficiaries can avail themselves of credit card facility without any admission fee and they can also avail themselves of various facilities such as instant global debit cards/ATM cards, SMS banking, mobile banking, Internet banking, any branch banking, SyndSuraksha insurance policy and SyndArogya health insurance cover, the statement said.
-No collateral security and no guarantee is insisted for loans up to Rs. 10 lakh.
Rate of Interest:
-For loans up to Rs. 10 lakh is at the base rate of 10.25%, while for loans of 0.25 per cent is being provided on applicable interest rate.
Contact Number : 079-26589082
Name of Scheme:LOANS TO WOMEN ENTREPRENEURS
-Concessional Rate of Interest.
-No hidden Charges.
Rate of Interest :14.00%
Contact Number :
Name of Scheme: Corp Mahila Power[MPower]
- Corp Mahila Power is a 3-in-1 Account for the modern age woman.
- MPower encourages thrift, promises Personal Loan upto Rs 1.00 lakh when needed most, and extends a Personal Accident Cover of Rs.1.00 lakh per account holder until the account is alive. What is more, a host of free facilities /services are also offered. Product Features Name Corp Mahila Power Account [MPower] Target Group Women in the age group of 21-60 years ].
- Including Salaried employees [Govt/PSU/Private Sector], - Doctors, Advocates, Entrepreneurs - Women with independent source of regular income [like rentals, etc.]
Eligibility - Singly or in joint names.
Rate of Interest : 12.5 % [linked to the Base Rate]
Contact Number :