Here is a website post draft for The Mahendragarh Central Cooperative Bank Ltd. to promote the Atmanirbhar Loan Scheme, based on the details from pages 1 to 3 of the PDF you provided. This includes a section for Loan FAQs at the end.

Empowering Self-Reliance: Atmanirbhar Loan Scheme

The Mahendragarh Central Cooperative Bank Ltd. is proud to introduce the Atmanirbhar Loan Scheme, aimed at providing financial assistance to local vendors, small traders, rickshaw pullers, vegetable sellers, auto drivers, and micro-entrepreneurs across Mahendragarh district.

Eligibility

• Local vendors, petty shopkeepers, rickshaw pullers, auto drivers, vegetable/fruit sellers, and micro-entrepreneurs.
• Applicant must be a resident of Mahendragarh District.
• The bank branch must have an NPA of below 5% to sanction new loans under this scheme.

Loan Details

• Loan Amount: Up to Rs. 50,000
• Purpose: For urgent personal or business needs.
• Type of Loan: Short-Term
• Repayment Period: 18 months (including a 3-month moratorium); 15 monthly EMIs.
• Interest Rate: Fixed at 11.50% p.a. for CIBIL scores of 600 and above.
• Penalty Interest: 3% p.a. extra after 15 days of default.
• Late Payment Fee: Rs. 250 + taxes after 15 days
• Cheque Bounce Charges: Rs. 250 + taxes per cheque

Other Features

• Margin: NIL
• Processing Fee:
  
• Up to Rs. 10,000 – Rs. 200
• Up to Rs. 25,000 – Rs. 250
• Rs. 25,001 to Rs. 50,000 – Rs. 300
• Prepayment Charges: NIL
• Disbursement: Direct credit to borrower’s savings account
• Security: Joint liability of family or third-party guarantee
• Documentation: Includes KYC, affidavit, post-dated cheques, verification report, and membership application

Important Conditions

• Borrowers must submit an affidavit that they won’t take a similar loan from another institution without prior repayment.
• Loan can only be re-availed after full repayment of a previous loan.
• Guarantors must also meet eligibility and verification criteria.
• Loans will be disbursed within 10 days of approval.

Frequently Asked Questions (FAQs)

Q1. Who can apply for the Atmanirbhar Loan?

A: Any local vendor, small trader, rickshaw puller, vegetable seller, or micro-entrepreneur residing in Mahendragarh district.

Q2. What is the maximum amount I can borrow?

A: You can borrow up to Rs. 50,000.

Q3. Do I need to pay any upfront fee?

A: Yes, a small processing fee is applicable based on the loan amount. There’s no margin or prepayment penalty.

Q4. What is the interest rate?

A: The interest is fixed at 11.50% p.a., depending on your CIBIL score.

Q5. What if I miss an EMI?

A: A penalty of 3% p.a. is charged on the default amount after 15 days, plus Rs. 250 in late charges.

Q6. How do I repay the loan?

A: The loan is repaid in 15 equal EMIs after a 3-month moratorium. Borrowers need to provide at least 3 post-dated cheques.

Q7. Can I apply again if I’ve already taken a loan under this scheme?

A: Yes, but only after the full repayment of your existing loan.

Q8. Can people with low CIBIL scores apply?

A: Applicants with a CIBIL score below 600 are not eligible under this scheme.

Apply Now

To apply, visit your nearest branch of The Mahendragarh Central Coop. Bank Ltd., or download the application form from www.cbmgarh.com.

For queries, contact your local branch or call our helpline.

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