Credit Guarantee Scheme for MFIs (CGSMFI) - Business Loan
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Highlights of CGSMFI Scheme :

  • No Guarantee fee for Eligible NBFC-MFI /MFI.
  • The scheme is valid till March 31,2022 or till guarantees for an amount of Rs.7,500 Crores are issued by NCGTC, whichever is earlier.
  • Competitive lending rate from Kotak Mahindra Bank; capped at 2% above 1Y MCLR.
  • Interest rates to be charged by NBFC-MFI / MFI to its borrowers shall be at least 2% below maximum rates prescribed by RBI.
  • NBFC-MFI / MFI need to comply other stipulations issued by NCGTC / Kotak Bank from time to time.


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