Loan Schemes for Women by Vijaya Bank

1. Loan Schemes for Women by Vijaya Bank

2. Loan Schemes for Women • Vijaya Bank has always been at forefront when it comes to schemes for women’s empowerment. • Some special loan schemes for women offered by Vijaya Bank are: • ARWIND (Assistance To Women In Non Farm Development) • MAHIMA (Assistance For Marketing Of Non Farm Products Of Rural Women) • Vijaya Mangala Scheme • V Swashakti

3. ARWIND (Assistance To Women In Non Farm Development) • This scheme is for providing financial assistance to rural women in Non-Farm Development. • There are basically 2 divisions: • Credit component • Promotion component • Eligible activities: • Decentralized projects under 15 lakhs are preferred. • Scheme is eligible for activities like processing, servicing and manufacturing. • Security: Except for hypothecation of assets created out of the loans, no collateral security/third party guarantee or margin money will be insisted for loans upto Rs.25000/- per borrower. • ROI: RBI/NABARD will specify the interest rate from time to time. • Repayment: 3 to 10 years with a moratorium of 6 to 12 months. • Special conditions: As per the norms of the scheme

4. MAHIMA (Assistance For Marketing Of Non Farm Products Of Rural Women) • The main aim is to assist agencies like the Non-Governmental Organisations (NGOs), Registered Voluntary Agencies (VA) and other organizations who market products of rural women in the form of loan and grants. • Eligibility: • The marketing agency should have at least 3 years track record and also satisfy the rules set by RBI/NABARD prescribed from time to time. • Security and Margins: As per bank norms. • Refinance: NABARD provides 100% refinance for loans with a maximum limit restricted to Rs.10 lakhs. • Quantum of grant / Assistance: Limited to Rs.2.50 lakh per agency.

5. For women home loan borrowers. • Eligibility: • Home loan borrower’s wife • For joint accounts, wife is eligible for this scheme. • Personal loan can be availed jointly in case the loan is taken jointly in the name of females. • Loan amount: 3 Lakhs maximum or 10% of home loan sanctioned, whichever is lower. • Security: Property already mortgaged for housing loan is continued as the security. • Guarantor: Personal guarantee of spouse/all co-borrowers. • Repayment: Maximum of 60 EMIs provided the loan should not exceed the existing home loan due date. Vijaya Mangala Scheme

6. V Swashakti • Financial assistance is provided to women Entrepreneurs who are into Small Business, Professional or Self Employed and Retail Trade. • Eligibility: • Women are above 18 years of age. • Loans are made available for both partnership/proprietary firms. • Quantum of Loan: 5 Lakhs maximum. • Guarantor: Personal guarantee of the partners involved. • Repayment: 5 years max and working capital up to 18 months which is subjected to annual review.

7. VIJAYA BANK • Vijaya Bank is a PAN India Institution, serving diverse sectors of the society. • The Bank offers a bouquet of innovative and attractive products and services to its customers. It has also incorporated a host of latest Digital Banking products, to provide the best services to its customers. Digital Banking services are: • VPAYQWIK • Mobile Banking • Net Banking • Vijaya UPI • Twitter banking and many more… For details, visit: https://www.vijayabank.com

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