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Sakhi Shakti Loan

At IDFC FIRST Bank, we are dedicated to the upliftment and advancement of women in India. To improve their livelihoods, we offer a loan for women - the Sakhi Shakti Loan. It helps boost their business as well as their material needs. As a business loan for women in India, it comes with many benefits, such as credit & savings solutions, wider reach, better coverage, simple documentation, quick processing and doorstep service. Read More

It is designed to truly empower women and helps them fulfil their dreams. Read Less

ELIGIBILITY

Who can apply?

  • Women can apply for Sakhi Shakti Loan with any basic identification, such as Aadhaar Card
  • It is designed to truly empower women and helps them fulfill their dreams.

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FEES & CHARGES

Find out about our minimal and transparent fees & charges

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FREQUENTLY ASKED QUESTIONS

What is a Joint Liability Group Loan?

A Joint Liability Group is made up of 4-10 individuals from the same village or neighbourhood who share a similar socioeconomic background and have mutually agreed to come together for the purpose of obtaining a loan from a bank without providing any security. 

What is the purpose of a Joint Liability Group Loan?

The purpose of a Joint Liability Group Loan is to empower women farmers and entrepreneurs and enable them to fulfil their business and material needs. 

At IDFC FIRST Bank, we are dedicated towards the upliftment and advancement of women in India. To improve their livelihoods, we offer a Joint Liability Group Loan for women - The Sakhi Shakti Loan.

What is the range of Sakhi Shakti Loan amounts, minimum and maximum offered by IDFC FIRST Bank?

IDFC FIRST Bank currently offers the Sakhi Shakti Loan in the range of ₹10,000 to ₹1,000,00 depending upon the eligibility of the applicant.

What is the maximum loan tenure offered on IDFC FIRST Bank Sakhi Shakti Loan?

The maximum loan tenure offered on IDFC FIRST Bank Sakhi Shakti Loan is up to 36 months based on the applicant's eligibility.

Is there a need to pledge a collateral to avail of a Sakhi Shakti Loan from IDFC FIRST Bank?

No, you don’t need to pledge a collateral to avail of IDFC FIRST Bank Sakhi Shakti Loan. It is a collateral-free loan.

What are the advantages of availing a Sakhi Shakti Loan from IDFC FIRST Bank?

We have one of the best Small Business Loan solutions for women. Some of our major features are:

- Collateral free loan

- Attractive interest rates

- Zero foreclosure and pre-payment charges

- Minimal documentation

- Mutual guarantee offered by the JLG members

How to apply for a Sakhi Shakti Loan from IDFC FIRST Bank?

To apply for IDFC FIRST Bank Sakhi Shakti Loan, you can visit the nearest IDFC FIRST Bank Branch or get in touch with our IDFC FIRST Bank representative who can assist you with your loan application process.

Which KYC documents will be required to apply for Sakhi Shakti Loan?

To apply for a Sakhi Shakti Loan from IDFC FIRST Bank, you will need any of the below officially valid documents with correct name and address:

- Aadhar Card 

- Passport

- Driving license

- Voter ID

- Job card issued by NREGA (National Rural Employment Guarantee Act 2005) with the signature of a State Government official

- NPR (National Population Register) Letter

When will the loan amount reflect in my account after my application has been processed?

A loan amount of up to ₹1 Lakh will be released within 3 days*.

What are the loan repayment channels that I can use to pay my loan EMIs?

You can pay your Loan EMIs for IDFC FIRST Bank Sakhi Shakti Loan during the scheduled center meeting.

Are there any foreclosure charges for IDFC FIRST Bank Sakhi Shakti Loan?

No, there are no foreclosure or pre-payment charges applicable for IDFC FIRST Bank Sakhi Shakti Loan. To know about our other fees and charges, click here.

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