banner-image

Additional Assurance to SHGs- COVID19

Purpose

To provide immediate financial assistance to the Women SHGs to meet the emergent needs of its members for their domestic and agriculture purposes.


Eligibility

The existing SHGs enjoying credit facilities from the Bank in the form of CC/OD/TL/DL having a satisfactory track record.


Quantum of Loan
  • Minimum Loan Amount- Rs.30,000 per SHG group.
  • Maximum Loan Amount –
    • Maximum 30% of Existing Limit. Subject to quantum of loan granted under this scheme shall not exceed Rs.1 Lac per member and total exposure (existing limit plus the proposed Demand Loan) per SHG shall not exceed Rs.10 lacs.
    • The quantum of loan need not be linked to the savings/thrift of the group.

Multiple loans including the proposed Demand Loan may be considered for a single SHG, within the overall eligible limit


Nature of facility

Demand Loan repayable in 24 Months.


Rate of Interest

One year MCLR+ Strategic Premium

Note: Under DAY-NRLM norms Women SHGs availing credit from Public and Private Sector Banks are to be financed at 7% p.a. on credit limit up to Rs. 3 lakhs in 250 Category I Districts (DAY NRLM Identified Districts)


Margin

Nil ( For Max limit up to Rs. 10 Lakhs- as mentioned in Master Circular for Financing SHGs)


Repayment Period

Monthly / Quarterly. The entire tenure of the loan shall not exceed 24 months. Moratorium period- 6 Month from the date of disbursement


Security

Nil ( For Max limit up to Rs. 10 Lakhs- as mentioned in Master Circular for Financing SHGs)

Add this website to home screen

Are you Bank of Baroda Customer?

This is to inform you that by clicking on continue, you will be leaving our website and entering the website/Microsite operated by Insurance tie up partner. This link is provided on our Bank’s website for customer convenience and Bank of Baroda does not own or control of this website, and is not responsible for its contents. The Website/Microsite is fully owned & Maintained by Insurance tie up partner.


The use of any of the Insurance’s tie up partners website is subject to the terms of use and other terms and guidelines, if any, contained within tie up partners website.


Proceed to the website


Thank you for visiting www.bankofbaroda.in

X
We use cookies (and similar tools) to enhance your experience on our website. To learn more on our cookie policy, Privacy Policy and Terms & Conditions please click here. By continuing to browse this website, you consent to our use of cookies and agree to the Privacy Policy and Terms & Conditions.