SHG finance is a scheme by Union Bank of India that provides financial assistance to Self-Help Groups (SHGs) in India. The bank provides loans and credit facilities to SHGs to help them start small businesses or generate income through other means. SHGs can borrow up to a certain amount, depending on their financial needs, and repay the loan in monthly installments over a period of time.

Any registered SHG that has been functioning for at least six months can apply for SHG finance. The group should have a good credit history and should be able to demonstrate a viable business plan to ensure repayment of the loan.

The documents required to apply for SHG finance include the SHG's registration certificate, PAN card, bank statements, balance sheet, income and expenditure statements, and business plan.

The loan amount depends on the financial requirements of the SHG and the bank's evaluation of their repayment capacity. The loan amount can range from a few thousand to several lakhs.

The interest rate for SHG finance loans is competitive and varies from time to time. The bank offers interest rates that are lower than the prevailing market rates.

The repayment period for SHG finance loans can range from 12 months to 60 months, depending on the loan amount and the SHG's repayment capacity.

Yes, an SHG can prepay the loan amount before the repayment period ends. However, prepayment charges may apply. If the loan application is approved, the SHG signs a loan agreement with the bank and receives the loan amount in their account.

An SHG can track their loan application status by contacting the bank's customer care or visiting the nearest Union Bank of India branch.

Yes, an SHG can avail of other banking facilities such as savings accounts, current accounts, and other credit facilities offered by Union Bank of India.

The contact information for Union Bank of India's SHG finance scheme is available on the bank's website, or a SHG can visit the nearest Union Bank of India branch for more information.