|Bank||Union Bank of India|
|Scheme||Stand Up India|
|Description||The objective of the Stand-Up India scheme is to facilitate bank loans between 10 lakh and 1 Crore to at least one Scheduled Caste (SC) or Scheduled Tribe (ST) borrower and at least one woman borrower per bank branch for setting up a Greenfield Project. This enterprise may be in manufacturing, services or the trading sector.|
|Rate of Interest & Repayment||The rate of interest would be as per the extant interest rate circular of our Bank.
The loan is repayable in 7 years with a maximum moratorium period of 18 months.
|Collateral||Besides primary security, the loan may be secured by collateral security or guarantee of Credit Guarantee Fund Scheme for Stand-Up India Loans (CGFSIL) wherever applicable.|
|Composite /loan Limit||Composite loan (inclusive of term loan and working capital) between 10 lakh and upto 100 lakh|
|Margin||The Scheme envisages 25% margin money which can be provided in convergence with eligible Central / State schemes. While such schemes can be drawn upon for availing admissible subsidies or for meeting margin money requirements, in all cases, the borrower shall be required to bring in minimum of 10% of the project cost as own contribution|