Credit through BC - Rural Banking
Financial inclusion is the process of providing suitable financial products and services to the unbanked and under-banked segment. The products and services are provided at an affordable cost in a fair and transparent manner by mainstream institutional players. ICICI Bank offers credit facility to clients sourced by Business Correspondent Partners.
Key Features
- Nature of facility: Demand Loan or Term Loan
- Loan Ticket Size: ₹10,000 – ₹50,000
- Loan Tenure: Minimum 12 months and Maximum 24 months
- Rate of Interest:
- Loan Amount - ₹15,000 and below - Rate of Interest 25.76%
- Loan amount - Above ₹15,000 - Rate of interest 25.12%
- Loans Post 30 June 2016 - Rate of interest 22.25% p.a.
- Processing Fee + Charges: No processing fee, foreclosure fee or renewal fee
- Security: No security or collateral is required