Ujjivan Small Finance Bank helps people who usually don't get help from banks. It's like a special bank that gives money help to those who don't have much. They offer different ways to help people with money who are often left out by regular banks.
| Table of Contents | ||
|---|---|---|
| Interest Rates | ||
| Fees & Charges | ||
| Eligibility Criteria | ||
| Documents Required | ||
| FAQs | ||
Also, Ujjivan Small Finance Bank (USFL) is a bank that's officially recognized by the Reserve Bank of India. They offer different types of loans for small businesses at interest rates starting from 12% per year.
Ujjivan Small Finance Bank MSE Loan |
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|---|---|---|---|---|---|
| Category/Loan Type | Secured Business Loan | Secured Enterprise Loan | Overdraft Against Property | Business Edge Term Loan | Business Edge Overdraft |
| Interest Rate | 17% onwards | 14% onwards | 14% onwards | 13% onwards | 12% onwards |
| Repayment Tenure | 36-120 months | 36-120 months | 12 months | 36-120 months | 12 months |
| Loan Amount | Rs. 10 lakh- Rs. 25 lakh | Rs. 10 lakh – Rs. 50 lakh | Rs. 11 lakh – Rs. 50 lakh | Rs. 25 lakh – Rs. 200 lakh | Rs. 25 lakh – Rs. 200 lakh |
Please note that the interest rates, fees, and charges mentioned are subject to change and are decided solely by the bank and RBI. Additionally, GST and service tax will be added to the mentioned charges.
Also read: Best Business Loan Interest Rate
| Fees and Charges | |
|---|---|
| Processing Fees | Up to 2.50% of the loan amount + GST |
| Documentation Charges | Up to Rs. 10,000 + GST |
| Stamp Duty | At Actuals |
| CERSAI Charges | Rs. 50 + GST for loan amount up to Rs. 5 lakh |
| Life Insurance Premium for Borrower | As per guidelines of insurer |
Additional charges such as pre-payment charges, foreclosure charges, penal interest, etc., are applied according to the terms outlined in the Sanction Letter provided by the NBFC (Non-Banking Financial Company).
Also read: Best Business Loan EMI Calculator
Ujjivan Small Finance Bank's MSE (Micro and Small Enterprises) loans are available for both registered and unregistered MSEs (Micro and Small Enterprises) in three priority sectors, with minimum annual sales turnover requirements as specified below:
Also read: Best Business Loan Eligibility
Also Read : Best Business Loan Documents Required
The range of interest rate offered under types of MSE loans are as follows:
The processing fee for USFL MSE loans amounts to up to 2.50% of the loan amount, in addition to GST (Goods and Services Tax).
Also read: Best Business Loan Interest Rate
The minimum loan amount that can be obtained is Rs. 10 lakh, while the maximum loan amount is Rs. 2 crore.
The longest time you have to pay back a USFL MSE loan is 120 months.
Yes, you have the option to pre-pay your loan amount. However, if you choose to close the loan within 12 months of disbursement, there will be a penalty of 5% on the outstanding loan amount. If the loan is closed after 12 months of disbursement, a penalty of 3% will be applied to the outstanding amount.
The two main methods for loan disbursement are through NEFT (National Electronic Funds Transfer) or RTGS (Real-Time Gross Settlement).
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