Co-Lending (Digital Lending)
Bank has entered in to an agreement with M/s Loan Tap Credit Products Private Limited (LTCPPL) under Co-Lending Model (CLM) for providing small business loans to MSME and self-employed segments like Kirana stores.
M/s Loan Tap Credit Products Private Limited, founded on 10th May, 2016, is an online integrated lending platform to facilitate digital lending. The company is headquartered in Pune with its registered office address at: Office No. 103, 1st floor, Hermes Waves, Kalyani Nagar, Pune-411006. The LTCPPL’s digital lending platform, encompasses end-to-end loan processing cycle (Origination, Underwriting, Disbursement, Management and Collection) with automation of major processes.
Bank is financing following schemes under CLM with LoanTap:
- TL- LoanTap MSME
TL- LoanTap MSME
Minimum & Maximum Loan Amount
Min – 0.50 lakh & Max- 3.00 lakh
Minimum & Maximum Loan Tenor
Min – 12 Months & Max – 36 Months
Applicable Rate of Interest (with Slabs if any)
ROI = RLLR + BSS (0.50%) + 4.50%
Applicability of Processing Fees & its rates