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PNB Vanita

PNB Vanita

PNB Vanita

Punjab National Bank (PNB) has offered the PNB Vanita Scheme for the welfare of women entrepreneurs. The main objective of the PNB Vanita scheme is to promote women entrepreneurs for setting up a new unit or extend or modernise an existing unit. In this article, we look at the PNB Vanita scheme in detail.

Objective of the PNB Vanita Scheme

The objective of the PNB Vanita are given below:

  • To ensure employment opportunities for women and enable them to become self-employed entrepreneurs.
  • To meet working capital requirements for the purchase of various products/types of equipment/tools etc.
  • Preference will be provided to those who belong to SC / ST / BPL category.

Eligibility Criteria

The following are the eligibility criteria for obtaining loans from the PNB.

  • Any women engaged in manufacturing/service/trading/small business activities are eligible to apply for this scheme.
  • Any women belongs to the category of SC/ST/Below Poverty Line (BPL) can avail loan under PNB Vanita scheme.

Quantum of Loan

The maximum quantum of assistance under PNB Vanita Scheme will be Rs.25,000 for setting up new unit/enterprise or expansion or modernization of existing unit.

Margin Money

Under the PNB Vanita Scheme, the margin amount is not applicable.

Security

The following are the securities required by the bank for lending the loan amount.

Primary Security: Personal security of the borrower or asset created by bank finance is received as the primary security.

Collateral Security: No collateral or guarantor is needed as the loan will be covered under CGTMSE for eligible activities.

Documents Required

The following documents are required for PNB Vanita Scheme:

  • Copy of Project report
  • Aadhar Card
  • Caste certificate 
  • Birth certificate
  • Passport Photograph
  • Copy of BPL Ration Card
  • Academic qualification certificate
  • Quotation of the current price for machinery, equipment, furnishings (if applicable)

Application Procedure for PNB Vanita Scheme

The applicant who wants to apply for the PNB women entrepreneur loan has to visit the nearby PNB branch and collect the application form from the bank. Complete the application with the necessary details and attach the specified documents. After filling the application, submit the same to the appropriate bank. If the application is approved, the concerned authority will sanction the loan for the entrepreneurs.

Repayment Period   

The maximum repayment period for the entrepreneur loan is 3 to 5 years, including a moratorium period of 3 to 6 months depending on the type of activity and income generation.

Note: In case of ODMUD, the MUDRA Card credit facilities has to be reviewed annually.

Also, read about PNB Seva

PNB Nirmata

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Post by Karthiga

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