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Get micro-housing loan for home improvements, water & sanitation amenities at IDFC FIRST Bank
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Borrow with zero collateral
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Quick & simple documentation process
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Doorstep instalment collection
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Loan tenure for 1-3 years
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Borrow with zero collateral
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Quick & simple documentation process
-
Doorstep instalment collection
-
Loan tenure for 1-3 years
Suvidha Shakti Loan
Now avail a loan designed specifically for your renovation needs! With IDFC FIRST Bank Suvidha Shakti Loan, you can avail credit to meet various home improvement requirements like fixing water connection, sanitation or basic repair work.Read More
Features that make this a reliable loan option include –
• Wide coverage for loan purpose
• Loan applicable only for existing Sakhi Shakti CustomersRead Less
Type of Loans under Suvidha Shakti program
Water Connection Loan
With the help of a rural housing loan, you can build a safe and drinkable water solution for your home. Under the water connection loan, IDFC FIRST Bank Suvidha Shakti Loan offers multiple micro loans such as
- Building household water connections
- Protecting wells and boreholes/bore-well
- Investing in hand pumps, rainwater harvesting systems, and water storage tanks/water purifier system
Sanitation Loan
Take action on sanitation issues with the support of rural housing finance. With IDFC FIRST Bank Suvidha Shakti Loans, you can apply for the building and maintenance of your sanitation requirements. The type of sanitation work covered under this loan includes
- Toilet or latrine construction
- Septic tank installation
- Sewerage network connection/underground drainage
Renovation
Whether you want to upgrade your home décor or get urgent reparation work done, with IDFC FIRST Bank Suvidha Shakti Loan, you can apply for micro loans for home improvement work like
- Kaccha-to-pucca conversion such as the construction of a wall, roof etc.
- Extension of the house such as the construction of room/kitchen/walls etc.
- Renovation/repair of the house such as flooring, roofing, plastering, brick works, wood works within windows, doors, grilling, etc.
- Construction of productive housing where a separate unit is attached to the house for commercial activities such as: tiny/ cottage industry or service, artisan activities, shop, any other productive activity, agricultural and allied activities.
FEES & CHARGES
Find out about our minimal and transparent fees & charges
FREQUENTLY ASKED QUESTIONS
What is IDFC FIRST Bank Suvidha Shakti Loan?
IDFC FIRST Bank Suvidha Shakti Loan is designed specifically for addressing social infrastructure & housing needs. Through this loan, one can avail of funds to cover various home improvement requirements like sanitation, water connection, basic repair work etc.
What purposes can IDFC FIRST Bank Suvidha Shakti Loan be used for?
- Water connection:
· Household water connections
· Protected wells and boreholes/bore-well
· Hand pumps, rainwater harvesting systems, and water storage tanks/Water Purifier System
- Sanitation:
· Toilet or latrine construction
· Septic tank installation
· Sewerage network connection/underground drainage
- Renovation/Repair/Extension:
· Kaccha-to-Pucca Conversion such as the construction of a wall, roof etc.
· House extension, such as building a room, kitchen, walls, etc.
· Extension of house such as construction of room/kitchen/walls etc.
· Construction of a separate productive housing unit attached to the house for commercial activities such as:
· A small or cottage business or service
· Artisan activities
· Shop
· Agriculture and its related activities
· Home renovations and repairs, including flooring, roofing, plastering, brickwork, woodwork in windows, doors, and grilling, among other things
Who can apply for IDFC FIRST Bank Suvidha Shakti Loan?
All existing IDFC FIRST Bank Sakhi Shakti Loan (JLG) members can apply for IDFC FIRST Bank Suvidha Shakti Loan.
What is the range of Suvidha Shakti Loan amounts, minimum and maximum offered by IDFC FIRST Bank?
IDFC FIRST Bank currently offers the Suvidha Shakti Loan in the range of ₹10,000 to ₹50,000 depending upon the eligibility of the applicant.
What is the maximum loan tenure offered on IDFC FIRST Bank Suvidha Shakti Loan?
The maximum loan tenure offered on IDFC FIRST Bank Suvidha Shakti Loan is up to 36 months based on the applicant's eligibility.
Is there a need to mortgage any property to avail of this loan?
No, you don’t need to pledge a collateral to avail of IDFC FIRST Bank Suvidha Shakti Loan. It is a collateral-free loan.
My Sakhi Shakti Loan ended last month? Can I apply for the Suvidha Shakti Loan?
Sorry, but if you are not a current Sakhi Shakti Loan member, you cannot apply for a Suvidha Shakti Loan.
Which KYC documents will be required to apply for Suvidha Shakti Loan?
To apply for a Suvidha 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
Additionally, we will also need Property ownership proof such as:
- Electricity bills/Registered sale deed/Latest property tax receipts/Linked documents like city survey utara, 7/12 extract, panchayat certificate, Patta or any other document from any local authority as per market practice to prove ownership.
Can I use this loan to repair a defunct toilet in my home?
Yes, you can use the Suvidha Shakti Loan to repair the defunct toilet of your home.
I stay in a rented flat and need basic water connection in this home. Can I avail of the Suvidha Shakti Loan?
Sorry, but if you wish to make renovations to a rental apartment, you cannot apply for a Suvidha Shakti Loan. You must provide documentation proving your ownership of the property you wish to modify or upgrade.
Is an End-Use Check mandatory for this loan?
Yes, an End-Use Check of the constructed asset (water connection/ toilet/ renovation/ extension) is mandatory. It is mandatory to use the loan funding for the purpose for which it was availed.
Are there any pre-payment or foreclosure charges?
There are no foreclosure charges on the Suvidha Shakti Loan. However, you cannot make part payments for this loan. To know about our other fees and charges, click here.
