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V-Swashakti Scheme

V-Swashakti Scheme

V-Swashakti Scheme

Vijaya Bank has initiated a scheme called “V-Swashakti Scheme” to promote women’s entrepreneurship development. Under this scheme, the bank grants financial assistance to women entrepreneurs for those who are engaged in small business, professional or self-employed and retail trade through credit facilities. This bank aims to set a path towards the economic empowerment of women by providing business loans to meet the requirement of working capital or for business expansion. In this article, we look at the V-Swashakti Scheme in detail.

To know about the Women Entrepreneurship Platform.

Features and Benefits of V-Swashakti Scheme

The below following are some of the main features and benefits of V-Swashakti Scheme with Vijaya 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 to 10 years
  • Micro-credit and retail stores are also eligible

Eligibility Criteria

The below are the requirements to apply for the V-Swashakti Scheme:

  • The women applicant must be above the age of 18 years
  • The women entrepreneurs must be resident individuals to apply for the scheme
  • Loans can be availed for both proprietary as well as partnership firms
  • If the business is on a partnership basis, the contribution of the women to be more than 51%

Documents Required

The required documents are to be submitted while applying for the V-Swashakti Scheme:

  • Identity Proof: Aadhar, PAN Card, Driving License, Voter Identity Card, etc.
  • Address Proof: Aadhar Card, PAN Card, Valid Passport, Utility bill, Property tax bill, etc.
  • Proof of business Address
  • Balance sheets for the past 3 years of the units along with income tax returns, sales tax returns, Annexures 3CB, 3CD, etc.
  • Memorandum and articles of association of an organisation
  • Partnership Deed of partners (in cincomease of company)
  • Assets and liabilities documents of promoters and guarantors
  • Rent Agreement and clearance from pollution control board if applicable
  • SSI or MSME registration certificate (if applicable)
  • For working capital loans, projected balance sheets of the next 2 years and in case of the term loan, period of loan statements are required
  • Accounts position from the existing bankers and confirmation about the asset being standard with them (in case of takeover)
  • In case of takeover of advances, the sanction letters of facilities being availed from existing bankers or FIs along with detailed terms and conditions
  • Photocopies of lease deeds or title deeds of all the properties being provided as primary and collateral securities
  • Bank account details
  • Passport size photo of the women applicant

For loans above INR 25 Lakhs

  • Audited balance sheets for the last 2 years.
  • Provisional Balance sheet for the current year and projected balance sheets for the next year.
  • Profile of the unit along with names of promoters, undertaken activities and addresses of all offices, shareholding pattern, etc.
  • Past three years balance sheets of the Associate/Group Companies.
  • Project report with details of suppliers, financial details like the capacity of machines, the capacity of utilization assumed, production, sales, profit & loss and balance sheets for the next 7-8 years till the proposed loan is to be satisfied.
  • The information of labour, staff to be hired, the basis of the assumption of such financial details etc. to be specified in the project report.
  • Review of account containing month wise sales, production, imported raw material, indigenous raw material, the value of stocks in process, finished good, debtors, creditors, bank’s outstanding for working capital limits, term loan limits, bills discounted.
  • Manufacturing process (if applicable).

V-Swashakti Scheme Loan Details

The below following table provides the details of Loan amount, Interests, charges, fees and Commissions:



Loan Details

1. Loan Amount offered Maximum loan amount is Rs. 5 Lakhs
2. Facility Working Capital and Term loan
3. Margin Amount

Up to Rs. 25000 is Nil

Above Rs. 25000 is 15%

4. Rate of interest As applicable for Micromanufacturing or Service Enterprises (MSEs)
5. Processing Fee or other charges NIL

Repayment Period

The period of repayment for term loan would be the maximum of 5 years and 18 months for the working capital or subject to the annual review.


Hypothecation of assets created out of Bank finance. Collateral free and no third party guarantee.

Online Application Procedure

To apply for the V-Swashakti Scheme, follow the below procedure:

Step 1: The applicant will have to visit the official web portal using this link.

Step 2: The applicant must fill out the V-Swashakti Scheme application form with all the required details and attach the specified documents as required.

Step 3: After completing the V-Swashakti Scheme application form, click on the submit button. Upon submission, the applicant would receive an acknowledgement number for further reference.

Offline Procedure

In case of visiting the bank branch, the applicant will have to get the V-Swashakti Scheme from the concerned official and have to attach all the documents with the form. After completing, the verification process will be done by the bank official as they will process the request further.