This loan opportunity encourages women looking to develop in all fields. The loan can be used to grow their business carefully.
IDFC First Bank has launched the Sakhi Shakti Loan to support women entrepreneurs and small business owners.
To be eligible, you must be a woman entrepreneur or a small business owner, and your business should be at least six months old.
The scheme offers small loans to women, ensuring quick and easy access to loans of up to Rs. 50,000. Bank representatives visit homes to facilitate the loan process, making it hassle-free. To find out more details, visit https://www.idfcfirstbank.com.
The bank claims that the loan can be obtained quickly with minimal documentation. Once the purpose of the loan is stated clearly, our team will make efforts to grant the loan immediately.
The process involves a simple application form, verification of documents, and a quick approval process.
This loan is specifically designed for women running businesses from home, including home industries, shops, service providers, handicraft units, agricultural activities, and other businesses.
Many women have used this loan to expand their businesses, purchase new equipment, and increase their income.
Moreover, the loan is versatile in its usage. It can be used for house water supply connections, construction of safe wells or bore wells, hand pumps, rainwater harvesting systems, water storage or purification systems, building additional rooms, expanding homes, or constructing walls, giving you the power to decide how to improve your living conditions.
The loan carries low interest rates and can be repaid in easy installments. The processing fee is 1% if the loan amount is less than 25,000 rupees, including GST.
Furthermore, facilitation charges range from 1% to 2%, with GST added. The loan interest rate ranges from 21% to 23.5%.
Anyone considering this loan should fully understand the details before making a decision, as there is a risk of facing challenges due to fees and interest.