Cosmos Women Loan Scheme

Features

1.Scheme Exclusivity

This scheme is available exclusively for women entrepreneurs

Features

1.Repayment Flexibility

Need based moratorium period is allowed

Features

1.Minimum foreclosure charge

A foreclosure charge of only 1% is applicable on outstanding amount

About Cosmos-Women Loan Scheme

In the past couple of decades, awareness of women empowerment has increased more than ever. More women have started stepping out of their houses and doing work in all kinds of fields. The Cosmos Women Loan Scheme is tailored exclusively for enthusiastic women entrepreneurs who are looking forward to starting their own business or developing it further. This loan can be used by female directors or partners who are the main share and profit holder in a business for all business related purposes like purchase of tools, vehicles, expansion of business, etc. Cosmos Bank provides ample of flexibilities in this scheme in order to suit the needs of the borrowers. Minimum foreclosure charges are applicable on this scheme. Moreover, moratorium period is available in case the business is running low and there are no funds for repayment. With this scheme we encourage more and more women to take part in business activities and provide the country with a brighter future.

Talking Points

Margin: 20-25 % value in Bank’s favour

Loan Limit: No maximum limit, need-based finance made available

Guarantors: Two acceptable guarantors have to be provided

Details

To provide financial support to female entrepreneurs for business purposes

7 – 10 years on the merits of the project for Term loan
On Demand, Review within 12 months for Cash Credit

Eligibility:
The applicant should be a regular or nominal member of our Bank.
The entrepreneur should be a woman & should have at least 51% of shareholding and profit sharing in case of partnership / Company.
Takeover proposals from other banks having standard Asset classification

Prime Security:
For Cash credit – Stock & Debtors
For Term loan – Fixed Asset such as Machinery, equipment, furniture, etc. or the property to be purchased PDC's

Collateral Security:
At least 25% of the exposure ( Distress Value)

Moratorium Period
Need based moratorium period will be allowed

Insurance
Insurance policy from Bajaj Life Insurance co. Ltd. with Bank’s clause

Loan Security Regarding Immovable Property:
The property should have clear and marketable title as well as salability.
Valuation Report of the Panel valuer will be considered.
The property should not be older than 25 years. The Charge on the property shall be created by way of simple / equitable mortgage depending on availability of original title deeds.

Charges:
For Service charges, Click Here

Membership:
Membership will be applicable as per Bank's Norm

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