Loan for starting Cyber Cafe/ PCO/ Xerox Machine/ FAX Machine/
                                               Flour Mill/ Mini Rice Mill/ Pulses Mill/ Oil Mill

Purpose and Eligibility:

• The main objective of the scheme is to provide employment to beneficiaries.
• Beneficiary should be a graduate and reside in rural or town area.
• The residence of the beneficiary and debt driven economic activity/ business/ shop/ should be in the working area of the related bank branch.

Loan Margin Amount and Interest Rate:

• For Cyber Cafe beneficiary will get a maximum extent possible loan of the estimated unit cost of a unit.
• The beneficiary will have to contribute 20% of the project cost and the rest 80% the Bank will provide as loan.

Interest Rate:

• The interest rate on the sanctioned loan will be 11% annually. The interest will be calculated on monthly basis.
• On non-payment of loans a penal interest of 2% will be payable annually, on the payable outstanding amount for the payable outstanding period.

Term of Loan:

• Beneficiary will have to repay the loans in 5 years in the form of consolidated monthly installments.
• In 5 years of loan repayment, 2 months will be considered grace period and payment will be collected in the form of 58 consolidated monthly installments.

Security:

• Upto a credit limit of Rs 25,000.00/- no collateral security is needed but the beneficiary will have to present two proper individuals as guaranters which should be acceptable by the bank.
• For credit limit of more than Rs 25,000.00/- a collateral security of one and a half times of loan amount is needed and two people as a guaranter. Only those property on which clear title and easily accessible on sale will be acceppted as collateral security.

Insurance:

• Beneficiary will have to credit/ limit covering all risks under bankers clause, would be to insure collateral security, the expenses will be borne by the debtor.

** For more information please visit your nearest branch of Zila Sahkari Bank Ltd. Unnao