bazar loan
Bazaar Loan
Boundparivar ‘Bazaar loan’ product is an Individual loan product offered to address the working capital needs of small businesses operating out of authorised market places or clusters of shops organised under Traders’ Associations. Bazaar loan borrowers are predominantly men involved in small trading and micro-enterprises. The Bazaar loan amounts generally range from INR 10,000 to INR 50,000 and have a term of 6 to 24 months.
Funds for small entrepreneurs to finance working capital needs such as purchase of raw materials, salary payments, power charges, etc.
Loan amount – Minimum ₹10,000; Maximum ₹1.5 lakh
Loan tenure – 1 year/2 year
Simplified documentation for hassle-free loan processing
Doorstep documentation and delivery
Use of tabs with biometric authentication at doorstep to speed up transaction time
Timely disbursement
**Obtaining insurance offered by the bank is non-mandatory for availing any EEB loan product.
- Current Interest Rate: 19.45%
- Processing Fee- 3% of loan amount +GST/Tax as applicable.
- Existing Super Saver depositors who have fixed place of availing services
- Borrowers and their spouses cannot be existing borrowers of Suchana, Srishti and Micro Enterprise Loans
- One latest passport size photograph
Address and identity proof documents
Documents acceptable as proof of identity and address (for domestic individual Savings Accounts) – opening of accounts/address change/periodic updation of KYC (Re-KYC) are:
- Proof of Possession of Aadhaar number
- Passport
- Driving Licence
- Pan card
- Voter ID Card (Issued by Election Commission of India)
- Job Card by NREGA duly signed by an officer of the State Government
- Letter issued by National Population Registry confirming details of Name, Address
Only a single copy of the document is required if it is listed under both address and identity proof, e.g. Passport/Aadhar Card
If the mailing address and permanent address are different, address proof documents for both are required