Cent Kalyani Scheme

The Cent Kalyani Scheme is a financial assistance programme launched by the Central Bank of India. It is designed to support women entrepreneurs in India running small businesses while promoting sustainable and continuous employment. 

Women who own small-scale manufacturing or service enterprises, as defined under the MSME Act of 2006, can access both term loans and working capital facilities under this scheme.  

The maximum loan amount available is ₹1 Crore (₹100 Lakhs). The scheme offers concessions on interest rates, making it easier for women entrepreneurs to secure funding.

The main objectives of the Cent Kalyani scheme are:

• To identify women entrepreneurs in India and provide financial assistance tailored to their needs

• To encourage more women to participate in business ventures and promote women-owned MSMEs

• To offer guidance to women entrepreneurs, whether they have existing or new businesses, based on their specific needs

• To help women-owned businesses access benefits from bank schemes through coordination with government and non-government organisations

The Cent Kalyani loan Scheme allows you to get substantial loan amounts, as per the requirements. Here are some benefits::

• The maximum financing amount available under the scheme is ₹100 Lakhs

• For term loans, you can access fund-based working capital facilities such as overdraft or cash credit

• For non-fund-based capital, you can apply for instruments like a letter of credit or letter of guarantee

• You are required to contribute a 20% margin funding towards the business, while the remainder is covered by the scheme

• No collateral or guarantee is required for the loan

• The processing fee for the loan is waived (zero fees)

• Some schemes, such as CGTMSE, offer guaranteed coverage and fee exemptions for the first year

The Cent Kalyani scheme offers specific interest rate concessions of 0.25% and 0.50%. The details are as follows:

• If the principal loan amount is less than ₹10 Lakhs, the interest rate will be MLCR (Marginal Cost of Funds Based Lending Rate) plus 0.25%

• If the principal loan amount is between ₹10 Lakhs and ₹1 Crore, the applicable interest rate will be MLCR plus 0.50%

• If an external agency rates the loan, an additional 0.25% will be added to the interest rate, making it MLCR plus 0.25% or 0.50%, depending on the loan amount

Some sectors that are eligible under this scheme include manufacturing and services. These include:

For Manufacturing

• Food processing

• Arts and crafts

• Handlooms

• Textile industry

• Cottage industry

• Home-based manufacturing industry

For Service-based Sectors

• Lawyers

• Doctors

• Dieticians

• Engineers

• Fashion designers

• Beauticians

• Health and beauty clinics

• Daycare creches for children

• Transport operators

• Libraries

As per the Cent Kalyani Scheme details, you get an interest rate concession if the loan amount is up to ₹10 Lakhs. Here are some other details regarding the loan limit: 

• For loans of up to ₹10 Lakhs starting from a minimum of ₹1 Lakh, a 20% margin is applicable

• This means you will have to finance 20% of the amount from your pocket if you take a loan of up to ₹10 Lakhs

• In loans of up to ₹10 Lakhs, interest rate concession is applicable

• For loans of more than ₹10 Lakhs and up to ₹1 Crore, a 20% margin is applicable without interest rate concession

The Cent Kalyani scheme eligibility requires you to be a professional, a business owner, or a self-employed woman. Here are some other criteria:

• You can either be a professional, self-employed, or business owner

• You can belong to manufacturing, trading, or the service sector

• You must not be included in agricultural activities or Self-Help Groups (SHGs)

• You are eligible if your business is new or existing

• Women must solely own and control the business

• You must comply with standard bank regulations relating to documentation and creditworthiness

Some documents required to apply for the Cent Kalyani Scheme include address proof, business proof, and identity proof. All the documents required include:

• Identity Proof: Voter ID, passport, driving license, KYC documents, or PAN Card

• Address Proof: Telephone bill, property tax, electricity bill, or Voter ID

• Business Proof: Business profile or letter of interest

• Income Proof: Balance sheet, profit and loss statement, or financial documents

To apply for this loan scheme, follow these steps:

1. Visit the official website of the Central Bank of India or go to the nearest branch

2. Select and download the application form based on the loan type in Word or PDF format

3. Fill in all the required details on the printed application form

4. Submit the completed application along with the necessary documents to the relevant branch of the Central Bank of India

5. After successful verification, the loan will be credited to your account

Some businesses and institutes exempted from the benefits of this scheme include:

• Some businesses run by women, such as grocery stores and retail businesses

• Self-financed or funded education and training institutions 

• Under several government schemes, subsidies are available to self-help groups. 

The Cent Kalyani Scheme provides financial support to women entrepreneurs, encouraging them to start or grow their businesses. Unlike other bank loans, this scheme does not charge a processing fee, making financing easier for women. Funds from the scheme can be used for business investment or recurring costs. 

Alternatively, you can consider getting business loans from leading lenders through Bajaj Markets. On this platform, you can explore loan options from a wide range of lenders and get up to ₹50 Lakhs with a maximum tenure of up to 96 months.