Looking for a Corporate Business Loan from Utkarsh Small Finance Bank?

This page summrises the information you may need to make a sensible and sound decision.

Utkarsh Small Finance Bank Business Loans

Being one of the popular small finance banks in India, Utkarsh Small Finance Bank offers a range of business loans to different segments of its customer base. The bank offers different loans that its business customers can use to raise funds to run their operations smoothly.

The business loans offered by Utkarsh Small Finance Bank are:

  • Joint Liability Group (JLG) Business Loan
  • Utkarsh Pragati
  • Utkarsh Kiran
  • Utkarsh Asha

We give you a brief introduction to the business loan below.

Utkarsh Small Finance Bank Business Loan

The Utkarsh Small Finance Bank Business Loan is a group loan designed for groups of women who want to raise funds for income generation activities. Females in the age group of 25 to 58 years are encouraged to form these groups and avail this loan for income-generation activities.

Features of Utkarsh Small Finance Bank JLG Business Loan

Why this Loan?

  • The loan is granted to groups of women who need funds to meet their financial needs for income generation activities. The loan amount offered under this scheme is divided into three tickets: Rs. 1 lakh, Rs. 2 lakh and Rs. 5 lakh
  • The tenure of the Utkarsh Small Finance Bank Business Loan is up to 5 years with monthly payment frequency
  • Only existing JLG loans customers are eligible for this loan

Utkarsh Small Finance Bank Pragati Loan

The Utkarsh Small Finance Bank Joint Liability Group (JLG) Pragati Loan is a group loan designed for groups of married women who want to raise funds for income generation activities. The maximum loan amount is capped at Rs. 20,000.

Features of Utkarsh Small Finance Bank Pragati Loan

Why this Loan?

Utkarsh Small Finance Bank Kiran Loan

The Utkarsh Small Finance Bank Joint Liability Group (JLG) Kiran Loan is a group loan designed for groups of women who want to raise funds for capital needs. The maximum loan amount is capped at Rs. 60,000.

Features of Utkarsh Small Finance Bank Kiran Loan

Why this Loan?

  • The loan is granted to groups of women who need funds to meet their financial needs for income generation activities
  • The interest rate applicable on the Utkarsh Small Finance Bank Kiran Loan is 23% per annum

Utkarsh Small Finance Bank Asha Loan

The Utkarsh Small Finance Bank Joint Liability Group (JLG) Asha Loan is a group loan designed for groups of women who want to raise funds for short-term needs for their business. The maximum loan amount is capped at Rs. 1 lakh.

Features of Utkarsh Small Finance Bank Asha Loan

Why this Loan?

  • The loan is granted to groups of women who need funds to meet their financial needs for short-term needs for business
  • The interest rate applicable on the Utkarsh Small Finance Bank Asha Loan is 23% per annum

Important Note: Even though the bank’s website has information available for four business loan schemes at this time, there is a possibility that the bank may offer more corporate loan options that are not yet published on the website. We suggest that you get in touch with the nearest branch to check the loan schemes they offer. This will also help you get a custom quote since many loan schemes are need-based and certain charges such as application charges, service charges, etc. may be decided on a case-to-case basis.

Interest Rate

  • As of October 2020, the interest rate for the Utkarsh Small Finance Bank Joint Liability Group (JLG) business loans and Pragati, Kiran and Asha Business Loans is same at 23% per annum

Documents Needed for Individuals

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card/ PAN Card Issue Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof: Last 6 months Bank Account Statement of applicant and co-applicant, Loan Statement of Running Loans, Latest Closed Loan NOC, Net Worth of the applicant and co-applicant
  • Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
  • For term loans: Project report with details on product choice, market survey, projection of production and sales, infrastructural needs, etc.; projected cash and fund flow statement for the repayment period; and copies of all licenses and permits wherever applicable

Documents Needed for Proprietorship and Partnership Firms

  • Loan Application Form duly filled and signed
  • Partnership Deed and Partnership Registration Certificate
  • ID Proof of the Firm: Firm PAN Card or PAN Issuing Letter
  • Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income Proof: CMA Data and Project Report, Debtors and Creditors Certificate, GST Return, Last 3 years ITR of applicant and co-applicant, Audited or CA Certified Computation of Income/Trading Account/Profit and Loss Account/Balance Sheet, Annual Audit Report and Tax Audit Report if audited, Form 16A if applicable, Net Worth of applicants, co-applicants and guarantors
  • Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
  • Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
  • Other Relevant Documents: Partnership’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
  • For Term Loans Only: Project report with details on product choice, market survey, projection of production and sales, infrastructural needs, etc.; projected cash and fund flow statement for the repayment period; and copies of all licenses and permits wherever applicable

Documents Needed for Private Limited and Public Limited Companies

  • Application Form duly filled and signed
  • Company ID Proof: Company’s PAN Card
  • Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Business Proof: AOA and MOA, Company Incorporation Certificate, Business Commencement Certificate, Board Resolution, CA/CS verified Share Holding Pattern, ROC Annual Return, DIN Certificate, List of Directors on Company Letter Head, GST Number, Form 32 in case of Director Change
  • Income Proof: CMA Data and Project Report, Last 3 Years ITR Acknowledgement copy of Company and all Directors, Last 3 Years Annual Credit Report or Tax Audit Report with Article 3CB, Article 2D, Article 3CD, TDS Certificate/Form 16A, Net Worth Certificate
  • Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
  • Security: Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
  • Other Relevant Documents: Company’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
  • For term loans only: Project report with details on product choice, market survey, projection of production and sales, infrastructural needs, etc.; projected cash and fund flow statement for the repayment period; and copies of all licenses and permits wherever applicable

Reference Facts

  • Utkarsh Small Finance Bank Website: www.utkarsh.bank
  • Headquarters: Varanasi, Uttar Pradesh
  • Customer Care Toll-Free Number: 1800 123 9878, 1800 208 1788