Questions and Answers
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.
False
What is the minimum banking vintage required for eligibility?
12 months
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?
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Match the following loan characteristics:
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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?
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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.
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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?
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OD/CC banking can be included for eligibility assessment.
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The maximum age limit at loan maturity is _____ years.
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What is the minimum banking vintage required?
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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.
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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.
