Podcast
Questions and Answers
What is the maximum loan amount for a CIBIL score of 0/-1?
What is the maximum loan amount for a CIBIL score of 0/-1?
Self Employed Non-Professionals (SENP) with a CIBIL score less than 685 are allowed to receive loans.
Self Employed Non-Professionals (SENP) with a CIBIL score less than 685 are allowed to receive loans.
False
What is the minimum banking vintage required for eligibility?
What is the minimum banking vintage required for eligibility?
12 months
The maximum age allowed at loan maturity is ______.
The maximum age allowed at loan maturity is ______.
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Is clubbing of banking allowed for the same proprietorship in different line of business?
Is clubbing of banking allowed for the same proprietorship in different line of business?
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Match the following loan characteristics:
Match the following loan characteristics:
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Nil bounce in the last 3 months is required for eligibility.
Nil bounce in the last 3 months is required for eligibility.
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What is the maximum number of live unsecured loans allowed in this program?
What is the maximum number of live unsecured loans allowed in this program?
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What is the maximum loan amount for a CIBIL score of 0/-1?
What is the maximum loan amount for a CIBIL score of 0/-1?
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Self Employed Non-Professionals (SENP) require a CIBIL V3 score of at least 685.
Self Employed Non-Professionals (SENP) require a CIBIL V3 score of at least 685.
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In which markets is the Small Ticket Business Loan allowed?
In which markets is the Small Ticket Business Loan allowed?
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What is the minimum banking transaction requirement to be eligible for the loan?
What is the minimum banking transaction requirement to be eligible for the loan?
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OD/CC banking can be included for eligibility assessment.
OD/CC banking can be included for eligibility assessment.
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The maximum age limit at loan maturity is _____ years.
The maximum age limit at loan maturity is _____ years.
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What is the minimum banking vintage required?
What is the minimum banking vintage required?
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Match the terms with their categories:
Match the terms with their categories:
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Unsecured loans taken in the last 3 months with an amount greater than 20k are allowed.
Unsecured loans taken in the last 3 months with an amount greater than 20k are allowed.
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Study Notes
Loan Overview
- Maximum loan amount for Small Ticket Business Loan is ₹3,00,000 (CIBIL 0/-1).
- Intended for individuals or proprietorships only; self-employed non-professionals (SENP) are eligible.
CIBIL and Credit Norms
- CIBIL V3 score must be ≥ 685 for eligibility; those with scores <685 are not allowed.
- No instances of 30+ days past due (DPD) in the last 12 months on EMI-based loans.
- CIBIL score between 685 and 720 requires no DPD in the last 12 months.
Banking Transaction Requirements
- Minimum Average Monthly Balance (ABB) in the Prime Market is ₹10,000, with at least one credit and one debit transaction monthly.
- Transactions norm not met for one month out of the last six may still be allowed.
- Six months of banking history is required for eligibility; clubbing of accounts is permitted for businesses in the same line.
Overdraft and Credit Card Norms
- Overdraft (OD) and credit card (CC) banking will not be considered for eligibility.
- Up to three primary banks may be merged for underwriting purposes.
Bounce and Return Conditions
- No EMI bounces allowed in the last three months; one bounce in the last six months is acceptable for non-technical reasons.
- Six inward returns permitted in the last six months; more than two inward returns in the same month results in case decline.
Age and Verification Requirements
- Applicants must be aged between 24 to 65 years at the time of application and maturity.
- Minimum 12 months of banking vintage required, while business vintage is not mandatory.
- Video Personal Documentation (PD) is required in all cases.
Loan Specifications
- Loan variants allowed are Term Loan and Dropline Flexi; Hybrid Flexi is not allowed.
- Loan tenor ranges from a minimum of 12 months to a maximum of 60 months.
- Group exposure and negative industry classifications are not permitted.
Disbursement Guidelines
- Disbursement and repayment processes are subject to current norms.
- Banking sources must be from account aggregators or electronic means; manual banking methods are prohibited.
- All applications must be processed through E-mandate or UPI mandate, with digital KYC through Digi locker as the only acceptable method.
Loan Overview
- Maximum loan amount for Small Ticket Business Loan is ₹3,00,000 (CIBIL 0/-1).
- Intended for individuals or proprietorships only; self-employed non-professionals (SENP) are eligible.
CIBIL and Credit Norms
- CIBIL V3 score must be ≥ 685 for eligibility; those with scores <685 are not allowed.
- No instances of 30+ days past due (DPD) in the last 12 months on EMI-based loans.
- CIBIL score between 685 and 720 requires no DPD in the last 12 months.
Banking Transaction Requirements
- Minimum Average Monthly Balance (ABB) in the Prime Market is ₹10,000, with at least one credit and one debit transaction monthly.
- Transactions norm not met for one month out of the last six may still be allowed.
- Six months of banking history is required for eligibility; clubbing of accounts is permitted for businesses in the same line.
Overdraft and Credit Card Norms
- Overdraft (OD) and credit card (CC) banking will not be considered for eligibility.
- Up to three primary banks may be merged for underwriting purposes.
Bounce and Return Conditions
- No EMI bounces allowed in the last three months; one bounce in the last six months is acceptable for non-technical reasons.
- Six inward returns permitted in the last six months; more than two inward returns in the same month results in case decline.
Age and Verification Requirements
- Applicants must be aged between 24 to 65 years at the time of application and maturity.
- Minimum 12 months of banking vintage required, while business vintage is not mandatory.
- Video Personal Documentation (PD) is required in all cases.
Loan Specifications
- Loan variants allowed are Term Loan and Dropline Flexi; Hybrid Flexi is not allowed.
- Loan tenor ranges from a minimum of 12 months to a maximum of 60 months.
- Group exposure and negative industry classifications are not permitted.
Disbursement Guidelines
- Disbursement and repayment processes are subject to current norms.
- Banking sources must be from account aggregators or electronic means; manual banking methods are prohibited.
- All applications must be processed through E-mandate or UPI mandate, with digital KYC through Digi locker as the only acceptable method.
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Description
This quiz explores the key aspects of small ticket business loans, focusing on eligibility criteria, loan amounts, and CIBIL score requirements. Understand the regulations surrounding self-employed non-professionals and the parameters that apply to individual/proprietorship entities. Test your knowledge on the loan approval process and market acceptance.
