Summer business loan size Rs 2 Lakh at 6% Pa

About summer Loan

Summer season trading, here refers to those who engage in the business of summer products i.e.; garments and their peak season is in the month of summer (starts in the month of April and ends in June). Moreover since most of them do business for the whole year they may require loan during the winter season as well.

Features and Benefits

Attractive Loan amount

Max loan up to Rs. 2 lakh for summer business

Easy Loan Repayment

Maximum tenure up to 6 months for Rs. 2 Lakh Loan size.

100% Transparency

Selection process is fair and need basis. The preference will be given to established business.

Quick and Easy Disbursals

Loan application process is  simple and loan disburse in respective bank account.

Preclosure and Prepayment

Flexible for pre-payment and pre-closure of loan account.

Attractive Rates of Interest

The rate of interest is 4% of amount Rs.2 Lakh during the tenure of 6 months.

Eligibility, Document requirements and Application forms

Eligibility Criteria

  • The age limit of the applicant is 25 to 60 years.
  • The applicant should be a Tibetan who is operating caravan livelihood businesses & should belong to any of the existing Tibetan settlements.
  • The applicant should have proper legal documents to run business as per the local rules and regulations.
  • Updated GB and RC
  • Borrowers should not belong to a same family.

Documents needs

  •   Fund Application Form signed and verified by The Tibetan Settlement Officer
  • Surety bond signed by all the concerned parties
  • Updated Registration Certificate (Optional) & Updated Green Book (GB)
  • SO’s support letter
  • One Passport Sized Photograph
  • Support application form
  • Surety & Promissory note
  • Support letter from local committee
  • Agreement of guarantor

Summer loan rate of interest and charges

2 Lakh

Loan size

6% pa

Rate of interest

6 Months

Loan tenure

  • Description of Charges
    Trinket Loan
  • Loan Processing Charges*
    Nil
  • Pre-payment charges*
    Nil
  • No Due Certificate
    Nil
  • Solvency Certificate
    Nil
  • Penalty Interest on delayed / overdue EMI
    Rs.50 per day for one month

Frequently Asked Questions (FAQ)

You can borrow only Rs. 2Lakh for doing summer business.

Yes, You can pay anytime before tenure ends. There is no pre-payment and pre-closure charges.

The availability of summer loan will be announce via settlement officers and in all of our media platform.