Digital SHG Loan

Sl No.	Parameter	Scheme Covenants
1	Purpose	For sustainable livelihood activities of SHG members.
2	Who are eligible?	Existing to Bank (ETB) as per bank internal criteria, including being in active Self Help Group for a minimum of six months, practising the Panchasutras. CIBIL Score of signatories should be ≥ 650. No SMA-2/NPA in any trade line in the past 12 months will be eligible. KYC compliant accounts.
3	Age	Minimum: 18 years Maximum: 70 years
4	Quantum of Loan	Minimum Loan – Rs. 1,50,000/- Maximum Loan – Rs. 10,00,000/-
5	Repayment period	Sanction limit for 1 year and limit to be renewed every year.
6	Processing, CIBIL and Documentation Charges	Processing Charge – NIL Documentation Charge – NIL CIBIL Charges – Rs. 531/- (Including GST)
7	Rate of Interest	Up to 3 Lakh – 7 % 3 Lakh – 5 Lakh – MCLR or 10% (whichever is lower) 5 Lakh – 10 Lakh – MCLR + 2.40%
8	Other Salient Features	Cooling-off period of 3 days from date of sanction/disbursement.
9	How to access this digital journey	This end-to-end digital journey may be accessed through desktop or mobile phone, using the link available on the UCO Bank website.