Bank of India – Stand Up India Loan
About This Loan
Bank of India's Stand Up India loan provides 10 lakh to 1 crore rupees for SC/ST and women entrepreneurs to set up greenfield enterprises in manufacturing, services, agri-allied activities, or trading. Composite loans cover both term loan and working capital with a moratorium period of up to 18 months, giving new businesses time to stabilise before repayments begin. Bank of India is one of the more active public sector banks under the Stand Up India programme and provides structured handholding support through Lead District Managers at branch level. Applicants should expect thorough project appraisal during the sanction process, typically taking 4 to 6 weeks from complete documentation to loan disbursement.
Maximum Amount
₹1,00,00,000
Interest Rate
Base Rate + 3% + Tenor Premium (typically 10-12% p.a.)
Tenure
Up to 7 years with 18-month moratorium
Collateral
Covered under CGTMSE; additional collateral for amounts above ₹1 crore
Processing Fee
As per bank norms
Eligibility
SC/ST entrepreneur or woman entrepreneur above 18 years; 51% controlling stake in the enterprise; greenfield project in manufacturing, services, or trading; no default with any bank.
Application Process
- 1Register on standupmitra.in as a borrower
- 2Approach Bank of India branch with documents
- 3Branch Lead District Manager (LDM) facilitates the loan
- 4Bank appraises the project and sanctions composite loan
- 5CGTMSE guarantee obtained for collateral-free portion
Documents Required
- Stand Up India application form
- Identity and address proof
- SC/ST caste certificate or gender proof (women)
- Detailed Project Report
- Quotations for assets
- Proof of business premises
- ITR (if applicable)
Official Links
Related Government Schemes
Disclaimer
This information is sourced from publicly available bank and financial institution websites. EduMetrics is not a financial advisor or lending institution and does not guarantee the accuracy of interest rates, eligibility criteria, or loan terms. Please verify all details with the respective bank before applying.