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Please Note: Bhartiya Mahila Bank is not a Paisabazaar partner. Offers would be from partner banks/NBFCs only.
Bhartiya Mahila Bank (BMB) is now a part of the State Bank of India (SBI). The business loan interest rates offered by BMB shall be at the sole discretion of SBI and RBI respectively. BMB offers banking and financial services and growth opportunities to enhance businesses owned and managed by women across India. Let’s discuss various loan types offered by Bhartiya Mahila Bank under the CGTMSE scheme.
Bhartiya Mahila Bank Business Loans offered under CGTMSE Scheme
- BMB Shringaar – Loan For Beauty Parlour/Saloon/Spa
- BMB Annapurna Loan – Loans for Food Catering
- BMB SME Easy – Loans For Small and Medium Enterprises
- BMB Parvarish – Loan For Day Care Centre
| Loan Types/Categories | BMB Shringaar | BMB Annapurna | BMB SME Easy | BMB Parvarish |
| Age Criteria | Min 20 years and Max 60 years | Min 18 years and Max 60 years | As per the profile and requirement of SME | Min 21 years and Max 55 years |
| Repayment Tenure | Up to 7 years | Up to 3 years | Up to 7 years | Up to 5 years |
| Collateral | Not required | Not required | Not required – Up to Rs. 1 cr | Not required |
| Purpose of Loan | For purchase and construction of shop purchase of tools and equipment | For assisting women to establish food catering unit for selling tiffins/lunches | For traders, services and manufacturers (Max. loan amount up to Rs. 20 cr) | To assist women to establish Child day care centre, for purchase of utensils/equipment etc. |
Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges.
Also Read: What are some of the entrepreneur friendly loans for women entrepreneurs in India?
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Documents Required for Loan Application
Following are the documents required by the bank for providing BMB Business Loans to women entrepreneurs:
| Employment/Categories | Identity Proof | Address Proof | Income Proof |
| For Salaried | PAN Card, Voter’s ID card, Driving License, Valid Passoport | Utility Bill: Telephone bills, Electricity bill, etc., Passport, Aadhar Card, Property Tax Bill
|
Account assigned for salary, last 3 months’ salary slips, last 6 months’ bank statement, latest Form 16 |
| For Self-employed | Voter ID of Business owner, PAN card, Aadhar Card, | Valid passport, Property tax bill, business address proof, property lease document, sales deed, etc | Profit and loss statement, last 6 months’ bank statement, last 2 years’ ITR, Current account statement, debt information, if any, credit card usage, etc. |
Additional Documents for Self-employed
Certification of Employment or Continuation of Organisation:
• Paid Certification: Last years’ appointment letter
• Self-employed: Last 2 years’ sales tax or ITR
Documents of Assets:
• Property under Construction: Property assigning a letter, certificate of proof of payment for the property and other related fees
• Ready Property: Document stating the sold property, Parent documents, Property Tax paying report and recent EC
• Plot and Self-made Property: Sale deed document, Parent document, Khatha (7/11 extract)
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FAQs
Q. When was the Bhartiya Mahila Bank Business Loan formed?
Bhartiya Mahila Bank Business Loan was established on 5 August 2013 and owns and operates more than 100 branches across the nation.
Q. What is the prime focus of BMB?
The prime focus of the bank is to help the female entrepreneurs to develop their on-going business or to help them provide finances to start their business to grow financially independent.
Q. What is the interest rate provided in this specific loan?
The interest rates provided solely depend on SBI and RBI, as the bank has merged with SBI in 2017.
Q. What identification documents are required from the salaried and self-employed?
Some common documents required for salaried as well as self-employed are:
- Voter Id
- Driving License
- PAN Card
- Aadhaar Card
- Partnership or Director Documents of the organisation
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