Samraddh Mahilla Loan Scheme

Disclaimer…before you read ahead!

The information contained herein is of a general nature and for information purposes only, with the intent of raising awareness around various resources, schemes etc. available for women entrepreneurs in India. It is not intended to address the circumstances of any particular individual or entity. It does not purport to be all-inclusive or necessarily contain all the information that may be relevant for the reader, and may be subject to updating, revision or amendment. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to remain accurate in the future. The reader, therefore, is required to exercise their discretion; and not act on such information without appropriate professional advice after a thorough examination of the particular situation.

Furthermore, we are not a lender and are not authorized by the Reserve Bank of India to act as one. By disseminating the information contained herein, we are not soliciting any borrower or customers for the company or organization mentioned herein nor do we intend to syndicate any capital for the reader of this article.

About this scheme..

PSB Samraddh Mahilla Loan Scheme is a loan offering by Punjab & Sind Bank (PSB) exclusively for women entrepreneurs.

How is it being implemented?

Under this Scheme, direct financial assistance in the form of loans is given exclusively to,

• Women entrepreneurs

What’s on offer?

I. Product

• Type
  • Term loan
  • Fund based working capital facility (Cash Credit, Overdraft, Stand By Line of Credit)
  • Non-fund based working capital facility (Bank Guarantee. Letter of Credit)
• Ticket Size: ₹2 Lakhs – ₹5 Crores

II. Purpose:

• Acquisiton of or investment in fixed assets
• Working capital requirements
• Temporary liquidity mismatch

III. Borrower Type:

• Sole Proprietorship, Partnership, Limited Liability Partnership (LLP), Private Limited Company, Public Limited

IV. Security or Collateral or Guarantee or Insurance

• Security: Primary charge on assets created out of PSB’s finance
• Collateral: For more information around this, please contact PSB via means mentioned below
• Guarantee: For more information around this, please contact PSB via means mentioned below
• Insurance: For more information around this, please contact PSB via means mentioned below

V. Interest Rate

• May range between 9.80% – 14.55% per annum
• For more information around this, please contact PSB via means mentioned below

VI. Processing Fee

• May range between 0.50% – 1.00%
• Refer to Processing Charges under Tab “Service Charges for Credit/Advances” + Usance Charges & Commitment Charges under Tab “Service Charges for for Inland Letter of Credit” + Bank Guarantee under Tab “Service Charges/Commission for Bank Guarantee” here

VII. Margin Money Requirement

• For more information around this, please contact PSB via means mentioned below

VIII. Tenure, Repayments & Pre-Closures

• Tenure
  • Term loan: upto 10 years including moratorium period of maximum of 12 months
  • Fund based working capital facility: 1 year, repayable on demand
• Repayments: EMIs for Term loans
• Pre-payment & Foreclosure Charges: For more information around this, please refer here

IX. Turnaround Time

• For more information around this, please contact PSB via means mentioned below

Interested? Read ahead to check your eligibility….

I.

• Do you fully own & managed your business?

OR

• Are majority of the Partners/Directors/Shareholders women with holding of at least 51%?

If your answers to the questions above are an emphatic YES, you are all set to avail loan under under PSB Samraddh Mahilla Loan Scheme!

So…how big is this scheme and what has been done so far?

I. Details on this Scheme don’t seem to be available in the public domain

So, now, how should you go about it?

I.  For submitting application:

• Apply online on PSB’s website here

OR

• Vist any of PSB’s 143 specialized MSME branches nearest to you

OR

• Vist any of PSB’s 1,580 branches nearest to you

II.  For information on application form and documentation requirements in English & Hindi, please refer to MSME Application Form here

III. For any queries, please contact PSB via

• Toll Free Number: 1800 419 8300

OR

• Vist any of PSB’s 143 specialized MSME branches nearest to you

OR

• Vist any of PSB’s 1,580 branches nearest to you

Go on then…and do spread the word!

Sources:                    

1. About PSB Samraddh Mahilla Loan Scheme: Scroll to Tab No. 27 here
2. PSB’s Annual Report 2023-24
3. PSB’s Latest Investor Presentation