SIB Uday

SIB Uday Loan

Fostering MSME Growth with Right Financing

At South Indian Bank, we understand the unique financial needs of micro, small, and medium enterprises (MSMEs). Our SIB UDAY Loan is designed to fuel your business aspirations, providing financial support for working capital, machinery purchases, and business expansion.

Key Features and Benefits

Collateral-Free Financing

Flexible Loan Options

Customised Repayment Facility

Quick and Hassle-Free Processing

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SIB Uday Loan

What is SIB UDAY Loan?

The SIB UDAY Loan offers financing up to Rs.10 lakh, catering to a wide range of business requirements. Borrowers can choose between Term Loans and Working Capital solutions, ensuring comprehensive financial coverage. The loan is available with flexible repayment tenures designed to align with your business cash flow, offering greater convenience in managing financial obligations. Interest rates are competitive and follow a floating rate structure, ensuring affordability. Additionally, eligible borrowers can avail of collateral-free loans under the CGTMSE/CGFMU schemes, reducing the burden of providing security.

Here are the key benefits of SIB Uday Loan:

Flexible Loan Amounts: Up to Rs. 10 lakh for various business needs
Collateral-Free Loans: Available under CGFMU or CGTMSE for eligible businesses
Diverse Financing Options: Includes Term Loans and Working Capital solutions
Flexible Repayment Terms: Customisable tenures to suit cash flow
Competitive Interest Rates: Affordable floating rates linked to market benchmarks
Fast Approvals: Streamlined process with dedicated support
Comprehensive Coverage: Funds for working capital, machinery, expansion, or modernisation
Expert Support: Dedicated relationship managers to guide you

Here is the eligibility criteria for SIB Uday Loan:

Category	Details
Target Customers	MSMEs in manufacturing, trading, and service sectors
Business Experience	Minimum 1 year of experience in the proposed line of activity
Age Criteria	Minimum: 21 years Maximum: 70 years (at the end of loan tenure)

Here are the documents you’ll need to apply for SIB Uday Loan.

Required Documents	Details
Application Form	Available via the Jan Samarth Portal
KYC Documents	As per business constitution (individual, partnership, private limited, etc.)
Financial Statements	Audited/CA-certified Balance Sheet and Profit & Loss statements for the last 2 years
Bank Statements	Past 6 to 12 months of business bank account statements
Statutory Registrations	GST registration, UDYAM certificate (if applicable)
Business Plan	Required for expansion or modernization loans
Invoices & Quotations	For term loan applications