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Dena Shakti Scheme

Dena Shakti Scheme

Dena Shakti Scheme

Dena Bank is a public sector banking company started with the vision of promoting economic opportunities for women and to set a path towards the economic empowerment of women. The bank creates a platform for woman entrepreneurs to get business loans. These business loans are intended for most business purposes to meet the requirement of working capital or for business expansion. In this article, we look at the Dena Shakti Scheme in detail.

To know about Women Entrepreneurship Platform

Sectors Covered Under this Scheme

The following are the fields focused in this scheme are as follows:

  1. Agriculture and allied activities
  2. Small Enterprises (Direct and Indirect Finance)
  3. Micro and small (manufacturing) enterprises
  4. Micro and small (service) enterprises which include small road and water transport operators, small business professional and self employees and all other service enterprises
  5. Retail Trade
  6. Micro Credit
  7. Education
  8. Housing

Dena Bank Loan Details

The primary objective of the Dena Shakti Scheme is to financially support the woman entrepreneurs by including all the following activities or sectors covered under the scheme. The below are the details of Dena Bank Business Loan Interests, charges, fees and Commissions.

S.No. Type Loan Details
1. Interest Rate 0.25% below base rates for women entrepreneurs who are majority stakeholders in the company
2. Loan Amount for Agriculture Up to Rs. 20 Lakhs
3. Loan Amount for manufacturing, retail trader, or small enterprises (Direct and Indirect Finance) Up to Rs. 20 Lakhs
4. Loan Amount for Retail Trader and micro-credit. Up to Rs. 50,000 under micro credit schemes.
5. Loan Tenure Up to 7 years
6. Processing Fee 0.50% of the loan amount

Eligibility Criteria

Women entrepreneur with more than 50% ownership of a business enterprise is eligible to apply for the Dena Shakti Scheme.

Features and Benefits of Dina Bank Shakti Scheme

The below following are some of the main features and benefits of applying for a Shakti Scheme with Dina Bank Business Loan

  • The women entrepreneurs offered with the concession of 0.25% in interest rate.
  • A combo of working capital and term loan
  • The repayment tenure is flexible as it can be lasting up to10 years
  • Microcredit and retail stores are also eligible entities along with enterprises operating in the agriculture and allied sector.

Documents Required

The required documents are to be submitted while applying for Dena Shakti Scheme.

  • Identity Proof: PAN Card, Aadhaar Card, Driving License, Voter ID Card, etc.
  • Address Proof: Aadhar Card, Valid Passport, Utility bill, Property tax bill, etc.
  • Bank account details.
  • One passport size photo of the applicant.

Application Procedure

The applicant will have to approach the nearest Dena Bank Branch for applying for this loan. Then the applicant needs to get the application form from the bank office and have to fill out the business loan Shakti scheme application form in a prescribed format. The specified proofs to be submitted along with the Shakti scheme loan application form.