Micro credit for self-employed persons.

Purpose:
To provide financial assistance to street vendors and youths to start their own small business in urban areas. 

Features:
• Sanctioned as Short term loan for 01 years
• Micro credit for business requirements in non-agricultural activities in unorganized sectors to promote self-employment
• Maximum loan up to Rupees 50,000
• Loan available at Zero Margin
• Effective zero rate of interest rate for regular loanee
• Collateral free loan

Advantage:
• Effective Zero Interest Rate
• Minimal Documents
• No collateral required
• Zero Processing Fee
• No hidden charges
• No Pre-payment penalty

Eligibility:
• Any unemployed person registered in District Employment Centre, permanently residing in the Jodhpur District and not receiving unemployment allowance
• Local Street Vendors recommended by appropriate authority
• The monthly income of applicant is less than Rs 15000 and family income less than Rs 50000
• The small businessman certified and recommended by Urban Local Bodies or Town Vending committee
• Age- 18 to 40 years persons employed as Hair-dresser, Riksha/ Cycle Riksha wala, potter, carpenter, cobbler, tailor, mechanic, electrician, plumber, beauty product vendor, broom vendor, decorative products vendor, Food/ Fast food vendor, Flower Vendor, Fruits vendor, Garments vendor, Grocery vendor, Handicraft, Ice-cream vendor, Juice/ cold drink vendor, Scrap vendor, Key lock vendor, Belt purse vendor, black smith, meat seller, Panwadi, Pooja samagri vendor, plants seller, stationer, tea shop, toys vendor, vegetable vendor, bamboo vendor, chaat, peanuts and snack vendor, biscuit, bakery, cleaning worker, security worker, rag pickers, sewing worker, agarbatti maker, papad, pickle, jams other preserved food vendor, hawker, durrie & carpet making, fireworks and match maker, cartoons and other packing maker etc.

Rate of Interest:
• Rate 0.00% for regular loanee
• ROI is calculated on daily reducing balance

Charges:
• Zero Processing Fee
• Other Charges: No stamp duty charges

Documents Required:
• Application form duly filled and signed
• KYC Documents of the applicant
• Domicile Certificate of the applicant
• Vendor certificate and recommendation letter by appropriate authority
• Registration certificate for enrollment in district employment center
• Affidavit by the applicant


*Terms & Conditions apply. For further details, Please contact your Nearest Branch