11 Schemes by Banks & Indian Govt. for Women Entrepreneurs In India
Here is a list of various schemes and loans exclusively for women that aim at promoting them
1. Annapurna Scheme – Provided by Bank – State Bank of Mysore SBM
SBM has two schemes for women entrepreneurs, the Annapurna Scheme and the Stree Shakti package.
- Annapurna Scheme – This scheme is designed for women who wish to establish food catering units, and offers loans up to Rs 50,000 for this purpose. The loan can be used to purchase kitchen essentials, gas connections, raw materials, etc. and has a repayment period of 3 years.
- Stree Shakti – Loans under this scheme can be availed by women entrepreneurs who have undergone EDP training. Loans up to Rs 50 lakh can be availed under this plan, with lower interest rates applicable for higher amounts.
2. Scheme for Beauty parlours/boutiques – Provided by Bank – Oriental Bank of Commerce
Oriental Bank of Commerce has two schemes designed for self-employed women and those who are keen on setting up a beauty parlour/saloon.
- Scheme for Beauty parlours/boutiques – This scheme aims to promote entrepreneurial spirit among women, and offers loans up to Rs 10 lakh to set up a saloon, boutique, tailoring centre or beauty parlour. The loan amount can be used to meet any expenditure associated with setting up such a center and for daily expenses.
- Scheme for self-employed women – This loan can be utilised to purchase fixed assets to enhance or start a business. The maximum loan amount is limited to Rs 5 lakh, with a repayment period ranging between 5 and 7 years.
3. Akshaya Mahila Athik Sahay Yojna (AMASY)- Provided by Bank – Bank of Baroda
the Akshaya Mahila Athik Sahay Yojna (AMASY), designed to help women reach their business dreams without having to worry about finances. This loan can be availed by women who are engaged in or wish to establish a business in retail trade, cottage industries and/or allied agricultural activities.
4. Stree Shakti Package For Women Entrepreneurs– Provided by Bank – State Bank of India SBI
This scheme is offered by most of the SBI branches to women who have 50% share in the ownership of a firm or business and have taken part in the state agencies run Entrepreneurship Development Programmes (EDP).
The scheme also offers a discounted rate of interest by 0.50% in case the amount of loan is more than ₹2 lakhs.
5. Bharatiya Mahila Bank Business Loan – Provided by Bank – State Bank of India SBI
This loan is a support system for budding women entrepreneurs looking to start new ventures in the fields of the retail sector, loan against property, MICRO loans, and SME loans.
The maximum loan amount under this loan goes up to ₹20 crores in case of manufacturing industries and also a concession is available to the extent of 0.25% on the interest rate and interest rates usually range from 10.15% and higher.
Additionally, under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), there is no requirement of collateral security for a loan of up to ₹1 crore.
6. Dena Shakti Scheme – Provided by Bank – Dena Bank
This scheme is provided by Dena bank to those women entrepreneurs in the fields of agriculture, manufacturing, micro-credit, retail stores, or small enterprises; who are in need of financial assistance. The interest rate is also decreased by 0.25% along with the maximum loan amount being ₹20 lakhs for retail trade; education and housing whereas ₹50,000 under the microcredit
7. Udyogini Scheme – Provided by Bank – Punjab & Sind Bank
This scheme is offered by Punjab and Sind Bank so as to provide women entrepreneurs involved in Agriculture, retail and small business enterprises to get loans for business at flexible terms and concessional interest rates. The maximum amount of loan under this scheme for women between the age bracket of 18-45 years is ₹1 lakhs but your family income is also taken into consideration and is set at ₹45,000 per annum for SC/ST women.
8. Cent Kalyani Scheme – Provided by Bank – Central Bank of India
Ths scheme is offered by the Central Bank of India with the aim of supporting women in starting a new venture or expanding or modifying an existing enterprise. This loan can be availed by women who are involved in village and cottage industries, micro, small and medium enterprises, self-employed women, agriculture and allied activities, retail trade, and government-sponsored programs.
This scheme requires no collateral security or guarantor and charges no processing fees. And the maximum amount that can be granted under the scheme is Rs. 100 lakhs.
9. Mahila Udyam Nidhi Scheme – Provided by Bank – Punjab National Bank
This scheme is launched by Punjab National Bank and aims at supporting the women entrepreneurs involved in the small scale industries by granting them soft loans that can be repaid over a period of 10 years. Under this scheme there are different plans for beauty parlors, day care centres, purchase of auto rickshaws, two-wheelers, cars, etc. the maximum amount granted under this scheme is ₹10 lakhs and the interest depends upon the market rates.
10. Mudra Yojana Scheme For Women – Provided by Govt. of India – Scheme
This scheme has been launched by the Govt. of India for individual women wanting to start small new enterprises and businesses like beauty parlors, tailoring units, tuition centres, etc. as well as a group of women wanting to start a venture together. The loan doesn’t require any collateral security and can be availed as per 3 schemes –
i. Shishu – loan amount is limited to ₹50,000 and can be availed by those businesses that are in their initial stages.
ii. Kishor – loan amount ranges between ₹50,000 and ₹5 lakhs and can be availed by those who have a well-established enterprise.
iii. Tarun – loan amount is ₹10 lakhs and can be availed by those businesses that are well established but require further funds for the purpose of expansion
11. Orient Mahila Vikas Yojana Scheme – Provided by Bank – Oriental Bank of Commerce
This scheme is provided by Oriental Bank of Commerce to those women who hold a 51% share capital individually or jointly in a proprietary concern. No collateral security is required for loans of ₹10 lakhs up to ₹25 lakhs in case of small-scale industries and the period of repayment is 7 years. A concession on the interest rate of up to 2% is given