RBI LIC. NO.: 04/01/1975 No. 52 P Registration NO.: 03/08/1972 No. 1557 Y

Rupay-Offers | Account Login

RBI LIC. NO.: 04/01/1975 No. 52 P Registration NO.: 03/08/1972 No. 1557 Y

Rupay-Offers Account Login

Special Small Loan Scheme

Small Loans below Rs. 25 Lakh for Business & Others
1 Type of Advance Term Loan (reducible as per repayment schedule)
2 Purpose
  • To meet the credit needs of trade, commercial activity, other general business, profession as also for their bonafide requirements.
  • To meet marriage or medical or educational expenses of family members including near relatives.
  • To undertake repairs/renovation/extension to the residence/ commercial property
  • To purchase consumer durables/Gadgets (Solar Plant)
  • To purchase, construct house/flat, purchase of plot
  • For going on Pilgrimage, Tours, Excursions etc.
  • Repayment of existing loans from other banks/financial institutions
3 Eligibility
  • All types of Traders including Retailers/distributors./Commission Agents/ Arthiyas and Individuals (HUF not allowed)
  • Age of the individual borrower/Proprietor/Partner not to exceed 70 years  up to and including repayment period.

Note: In case of Retired /Pensioner, co-borrower (Blood relatives) is mandatory

4 Quantum of Loan Minimum Rs. 2 Lakh
Maximum Rs. 25 Lakh
The limits are subject to:-
The sanctioned limit is to be related to the value of security & repayment capacity of borrower subject to:

  • Self employed/Salaried/professionals/individuals engaged in trade/commerce/business:
    Five times of their net annual income based on income tax returns (Average of last 2/3 years)
  • Proprietorship/Partnership Firm/Company:
    Five times of cash accruals i.e. PAT +Depreciation) as per their Audited/ Actual Balance sheet / P&L Account (Average of last 2/3 years)

Note:Net take home pay should be at least 40% of the income (net of proposed EMI)

5 Margin
  • 20%  in case of residential house/Commercial shop
  • 30% in case of residential plot/Commercial Plot
  • 50%  in case of SDO Patta
6 Rate of Interest BPLR-1.10% Presently 8.90% (Floating) at Monthly Rests
7 Repayment Period
  • Within a period of 12 years by way of EMI.
  • The repayment shall commence from the month subsequent to the month of disbursement.
8 Security
  • Equitable / Registered Mortgage (1st charge) on land / flat / house to be financed.
  • Third Party guarantee, other than blood relatives, as per extant norms.*
9 Processing charges NIL
10 Deviation For every item of Deviation from the scheme norms, additional interest of 0.25% on the applicable rate of interest.
11 Rebate 0.25% for existing shareholders
12 Out of Pocket Expenses for Documentation, LSR and Valuation Report to be borne by the applicants / borrowers.
List of Relatives
  • Father
  • Mother including step-mother
  • Son including step-son
  • Son’s wife
  • Daughter including step-daughter
  • Daughter’s husband
  • Brother including step-brother
  • Brother’s wife
  • Sister including step-sister
  • Sister’s husband