The 2024 IOB Mahila Saksham Scheme was introduced by the Indian Overseas Bank. The IOB Mahila Saksham Scheme 2024 has been introduced by the Indian Overseas Bank to encourage female nationals of India to become entrepreneurs. Under the programme, all Indian women nationals who wish to start their own businesses are eligible to get financial support. The eligible female entrepreneur will receive a loan facility of up to INR 10 lakh, according to reports. For all female nationals to be eligible for the benefits of the IOB Mahila Saksham Scheme 2024, they must go to the official website and complete the online application.
The objective of IOB Mahila Saksham Scheme
The primary thing of the action is to guarantee that every Indian women entrepreneurs induce at least INR 1 lakh a time. The program is linked to the Lakhpati Didi Yojana, which aids womanish business owners in greatly boosting their monthly profit. womanish people can greatly expand their companies and achieve fiscal independence with the aid of this program. All of India’s financially precarious womanish occupants will see an enhancement in their position of life and social standing thanks to this program. By offering fiscal support to womanish entrepreneurs, the Indian government would induce job chances for individuals with intermediate chops.
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IOB Mahila Saksham Scheme
Scheme Name | IOB Mahila Saksham Scheme |
Started by | Indian Overseas Bank |
Goal | Provide financial benefits |
Recipients | Female entrepreneurs |
Official website | |
Facility of Shivam credit | INR 10 lakh |
Eligibility | Females of self-help group |
List Eligible Business (Activities)
- Mushroom civilization
- High- value crop civilization in hothouse/ poly house, floriculture etc.
- Allied conditioning like dairy, flesh, sericulture, pisciculture, Goat & lamb rearing etc.
- Beauty parlor and salon services
- Tailoring shop
- pastoral eco- tourism
- Restaurant
- Internet cafe and photocopy
- Confectionary shops including soft drinks
- Groceries/ stationary shops
- Fruits and vegetables shop
- Cosmetic shop
- Papad/ Traditional snacks
- Flour shop
- oil painting processing units
- crafts, weaving, cloth bags, covers, baskets etc.
- Crockery & pottery
- Artificial jewelry making unit
- lavaliers – Glass and lac particulars
- Agarbatti/ candle making unit
- Cleaner timber/ liquid cleaner/ soap/ washing cleaner
- essence and club products
- Hose unit
- Aseptic apkins hankie manufacturing unit
- Paper plates mugs glass manufacturing
- Agri Clinic and Agri Business center
Required Documents
- Aadhaar Card
- Pan Card
- Mobile Number
- Business official documents
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Loan Amount
- Minimum: 75,000 and above INR
- Maximum: Up to Rs.10,00,000 INR
Also Read: Tamil Nadu Women Employment and Protection Scheme (WE-SAFE) 2024
Eligibility Criteria
Loan above Rs. 75,000 to Rs. 2 Lakhs
Parameter | Details |
Amount of Loan | Rs. 75,000 to Rs. 2 Lakhs |
Age requirement | 21 to 60 years |
Eligibility criteria | Two years old and one completed successful bank loan cycle |
Membership Vintage in SHG | A minimum of one SHG loan cycle and two years of participation |
Minimum Loan for Members | Rs. 25,000 |
Business Retro | two years of sustainable business |
Co-Applicant | Not required |
Points to Check | – |
Security | Hypothecation of assets derived from bank financing is the primary security. Zero Collateral Security |
Loan above Rs. 2 Lakhs to Rs. 5 Lakhs
Parameter | Details |
Amount of Loan | Rs. 2 Lakhs to Rs. 5 Lakhs |
Age requirement | 21 to 60 years (60 at the end of loan tenure) |
Eligibility criteria | Three years old and two completed successful bank loan cycle |
Membership Vintage in SHG | A minimum of two SHG loan cycle and three years of participation |
Minimum Loan for Members | Rs. 40,000 |
Business Retro | Three years of business experience |
Co-Applicant | Required in registered entities |
Points to Check | – |
Security | Hypothecation of assets derived from bank financing is the primary security. Zero Collateral Security |
Loan above Rs. 5 Lakhs to Rs. 10 Lakhs
Parameter | Details |
Amount of Loan | Above Rs. 5 Lakhs to Rs. 10 Lakhs |
Age requirement | 21 to 60 years (60 at the end of loan tenure) |
Eligibility criteria | Three years old and two completed successful bank loan cycle |
Membership Vintage in SHG | A minimum of two SHG loan cycle and three years of participation |
Minimum Loan for Members | Rs. 40,000 |
Business Retro | 3 years of viable business |
Co-Applicant | Required in registered entities |
Points to Check | Records from the last 24 months with SHGs for payback and appropriate financial analysis. |
Security | Hypothecation of assets derived from bank financing is the primary security. Zero Collateral Security |
Repayment Schedule
60 yearly/ 20 Daily installments including the doldrums period.
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Processing Fee
The processing freights will be 0.40 of the limit sanctioned plus applicable GST( for both Term loan and working capital).
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Application Process
STEP 1 All womanish citizens who want to mileage the benefits of the IOB Mahila Saksham Scheme 2024 are requested to visit the sanctioned website.
STEP 2 Once the womanish citizens reach the home runner of the sanctioned website they must detect and click on the option called “ Apply now ”.
STEP 3 A new runner will appear on your desktop screen. The ladies must enter all the details that are asked and attach all the necessary documents.
STEP 4 After entering all the details the womanish citizens must snappily review it and click on the option “ submit ” to complete their process.
Contact Details
Toll Free 18008904445/18004254445