SSUF Scheme- Petty Trader Loan
SSUF Scheme- Petty Trader Loan
APCOB offers Petty Trader Loans to help small businesses thrive. Whether you need funds for stock, operations, or equipment, our easy application, quick approval, and competitive rates make it simple to boost your business.
Eligibility
Street Vendors / Hawkers, Tiffin Centres, Vegetable Vendors, Beauty Parlours / Saloons, Repairing Centres (Electrical / Electronics), Carpenters, Small Kiosks, Mobile Sellers, Tailoring units, Photo Studios, Welding Units, Xerox / Stationery shop, any
other self-employment activities. The list is indicative only, and does not exclude any other prevailing or emerging activities as per assessment of Branch Manager.
The applicant should have account with the Bank.
He should be KYC norms compliant and should be undertaking the business activity within 5 kms radius of the branch.
Only one member in a family is eligible for the finance.
Minimum CIBIL – 650
No CIBIL score required for loan amount less than Rs. 50,000/- however the applicant should not be an existing defaulter.
Features & Benefits
The Credit can be sanctioned as CC facility or Term loan.
CC limit is valid for one year
In case of Term Loan maximum repayment period is 36 months.
The Term loan can be sanctioned for purchase of capital goods viz., machinery, Interior works and furnitire etc.,
The repayment can be made directly to the credit of CC account on daily/weekly/monthly.
In case of term loans, the daily / weekly payments have to be made into the SB account of the Branch.
| Interst Rates % | |||
|---|---|---|---|
|
S. No |
Cibil Score |
Rate of Interest |
|
|
i. |
650 to 700 |
12.00 |
|
|
ii. |
701 to 750 |
11.50 |
|
|
iii. |
751 & above |
11.25 |
|
|
iv |
800 & above |
11.00 |
|
Penal Interest @ 2% will be charged on the overdue amount.
Rate of interest willbe charged on daily outstanding balances in case of Cash Credi
Related Services
Sahakara Fish Andhra
PMFME
CC to Traders
Processing Charges
@1% on loan amount sanctioned + applicable GST subjected to maximum of Rs. 1,000/- only.
Surety
One employee surety having secured employment with a minimum take home pay of Rs. 10,000/-. (OR)
With a lien on the Fixed Deposits (Self/Third Party) made with the Bank of Value not less than Loan amount. (OR)
Deposit of Title Deeds of immovable property in the name of the applicant/family member. (OR)
Two Cross sureties / Joint Liability of three such Petty traders borrowed from the Bank.
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