Ujjivan Small Finance Bank provides financial support to undeserved segments of the country. Ujjivan Small Finance bank can also be termed as NBFC that offers a range of financial services to the ‘economically active poor’ who were not effectively served by the financial institutions.
Moreover, Ujjivan Small Finance Bank (USFL) is a scheduled bank included in the Second Schedule to the Reserve Bank of India Act, 1934. Below are the details of the different kinds of MSE loans offered by USFL that can be availed at an interest rate of 12% p.a. onwards.
| 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 |
| 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 |
| Repayment Tenure | 36-120 months | 36-120 months | 12 months | 36-120 months | 12 months |
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.
| Fees and Charges | |
| Documentation Charges | Up to Rs. 10,000 + GST |
| Processing Fee | Up to 2.50% of the loan amount + GST |
| Life Insurance Premium for Borrower | As per guidelines of insurer |
| CERSAI Charges | Rs. 50 + GST for loan amount up to Rs. 5 lakh |
| Stamp Duty | At Actuals |
Note: GST shall be added additional to the fees and charges mentioned.
Additional Charges like pre-payment charges, foreclosure charges, penal interest, etc. are charged as per the conditions in Sanction Letter issued by the NBFC.
Also Read: Apply for MSME Loan for New Business