Utkarsh Smart Business

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 updation, 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…

Utkarsh Smart Business, a secured loan offering, was launched by Utkarsh Small Finance Bank Limited (Utkarsh SFB) to help businesses meet their day to day working capital requirements.

How is it being implemented?

Under this Scheme, direct loan is provided to,

Businesses across sectors

What’s on offer?

I. Product

Overdraft (OD), Dropline Overdraft (DLOD)
Ticket Size: ₹10 Lakhs – ₹1 Crore

II. Purpose:

Working capital requirements

III. Borrower Type:

Self Employed Professional, Sole Proprietorship, Partnership Firm, Limited Liability Partnership (LLP), Private Limited Company, Public Limited Company, Trust (Hospitals & Educational Trusts)

IV. Security or Collateral or Guarantee or Insurance

Primary Security: There may be primary charge on assets financed by the Bank
Collateral Security: This Scheme is secured against collateral. For more information around this, please contact Utkarsh SFB via means mentioned below
Guarantee: For more information around this, please contact Utkarsh SFB via means mentioned below
Insurance: For more information around this, please contact Utkarsh SFB via means mentioned below

V. Interest Rate

Upto 18% per annum
Interest is paid as per utilization of funds

VI. Processing Fee

Upto 1% of Loan Amount + Applicable taxes

VII. Margin Money Requirement

For more information around this, please contact Utkarsh SFB via means mentioned below

VIII. Tenure, Repayments & Pre-Closures

Tenure
- OD: 1 year, renewed annually
- DLOD: 1 year, renewed annually
Repayments
- OD: No monthly principal repayment obligation
- DLOD: Credit limit gradually reduces over time, typically each month, until it reaches zero at the end of the loan tenure. For more information around this, please contact Utkarsh SFB via means mentioned below
Pre-payment & Foreclosure Charges: For more information around this, please scroll here and find details under Fees and Charges

IX. Turnaround Time

For more information around this, please contact Utkarsh SFB via means mentioned below

Interested? Read ahead to check your eligibility….

I. There is no particular eligibility criteria around the Scheme explicitly stated on the website. For more information around this, please contact Utkarsh SFB via means mentioned below