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DAY-NULM Self-Employment Programme (SEP)

Interest-subsidised bank credit for urban-poor individual and group micro-enterprises, with project-cost limits up to ₹2 lakh for individuals and ₹10 lakh for groups.

Interest rateMSME rate applies; the page does not publish a numeric base rate or spread. Interest subsidy covers the amount above 7% for timely repayment.Maximum amountSEP-G group loan up to ₹2 lakh per member or ₹10 lakh, whichever is lowerRepaymentSEP-G cash-credit or term-loan repayment ranges from 5 to 7 years after an initial 6–18-month moratorium; SEP-I tenor is not separately published.
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Quick eligibility check

DAY-NULM Self-Employment Programme (SEP)

0 of 9 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Do you meet this requirement: Urban-poor individual or group enterprise?

Published source: Eligible customers

2Does your age meet this requirement: SEP-G groups need at least 3 members, at least 70% urban-poor membership, all members aged 18 or above and no two members from one family?

Published source: Eligible customers

3Do you meet this requirement: Application/KYC, urban-poor or ULB identification, group/SHG records where applicable, project report, cost estimates, margin contribution and repayment evidence?

Published source: Required documents

4Does your age meet this requirement: SEP-I is for an urban-poor individual aged at least 18?

5Does your age meet this requirement: SEP-G requires at least three members, at least 70% from urban-poor families, all members aged at least 18, and no two members from the same family?

6Document checkDo you have this required document or proof: Application and KYC?

Published source: Required documents

7Document checkDo you have this required document or proof: Urban-poor/ULB identification?

Published source: Required documents

8Document checkDo you have this required document or proof: Group constitution and SHG records where applicable?

Published source: Required documents

9Document checkDo you have this required document or proof: Project report and cost estimates?

Published source: Required documents
0 of 9 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 31 Aug 2026 · active
Offered byBank of Maharashtra

Urban India under DAY-NULM

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Eligible customersUrban-poor individual or group enterprise; SEP-G groups need at least 3 members, at least 70% urban-poor membership, all members aged 18 or above and no two members from one family.View source
Complete individual and group eligibility sections reviewed.
Source
NULM, NRLM and MRSETIs
Page / section
DAY-NULM SEP-I and SEP-G
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Project/loan limitSEP-I maximum project cost ₹2 lakh. SEP-G maximum loan ₹2 lakh per member or ₹10 lakh for the group, whichever is lower.View source
Both SEP-I and SEP-G limit rows reviewed.
Source
DAY-NULM
Page / section
Project Cost
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Interest rateMSME rate applies; the page does not publish a numeric base rate or spread. Interest subsidy covers the amount above 7% for timely repayment.View source
The page delegates the charged rate to applicable finance and publishes the subsidy rule only.
Source
DAY-NULM
Page / section
Rate of interest; interest subsidy
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
RepaymentSEP-G cash-credit or term-loan repayment ranges from 5 to 7 years after an initial 6–18-month moratorium; SEP-I tenor is not separately published.View source
Published group repayment row retained; no individual tenor inferred.
Source
DAY-NULM
Page / section
Type of loan and repayment
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
CollateralNo collateral for eligible MSE loans up to ₹10 lakh; financed assets are hypothecated, mortgaged or pledged and CGTMSE/another guarantee fund is used where eligible.View source
Collateral and guarantee paragraph reviewed.
Source
DAY-NULM
Page / section
Collateral security
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Required documentsApplication/KYC, urban-poor or ULB identification, group/SHG records where applicable, project report, cost estimates, margin contribution and repayment evidence.View source
Published requirements were consolidated without inventing an application checklist.
Source
DAY-NULM
Page / section
SEP-I/SEP-G eligibility and lending norms
Accessed
31 Aug 2026
Confidence
medium
Open official source ↗
Maximum amountSEP-G group loan up to ₹2 lakh per member or ₹10 lakh, whichever is lowerView source
The manually reviewed product summary states: “SEP-G group loan up to ₹2 lakh per member or ₹10 lakh, whichever is lower”.
Source
DAY-NULM Self-Employment Programme (SEP) — official product page
Page / section
Published loan terms in product summary
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Benchmarkbase rate or spreadView source
The manually reviewed product record states: “ rate applies; the page does not publish a numeric base rate or spread. Interest subsidy covers the amount above 7% for timely repayment.”.
Source
DAY-NULM Self-Employment Programme (SEP) — official product page
Page / section
Published product metadata
Accessed
31 Aug 2026
Confidence
high
Open official source ↗

Benefits and features

  • SEP-I individual project cost up to ₹2 lakh
  • SEP-G group loan up to ₹2 lakh per member or ₹10 lakh, whichever is lower
  • Interest subsidy above 7% for timely repayment
  • Additional 3% subvention for women
  • No collateral for eligible loans up to ₹10 lakh

Eligibility

  • SEP-I is for an urban-poor individual aged at least 18. SEP-G requires at least three members, at least 70% from urban-poor families, all members aged at least 18, and no two members from the same family.

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

  • Application and
  • Urban-poor/ULB identification
  • Group constitution and records where applicable
  • Project report and cost estimates
  • Margin contribution and repayment records

Related official documents

NULM, NRLM and MRSETIsofficial-composite-product-page · current · accessed 31 Aug 2026
↗

Plan before applying

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Loan repayment estimate

See what the loan could cost each month. Move any slider to try a different amount, rate or repayment time.

One monthly payment₹19,382nineteen thousand three hundred eighty-two rupees
Interest paid over the full loan₹21,51,794twenty-one lakh fifty-one thousand seven hundred ninety-four rupees
Everything you repay₹46,51,794forty-six lakh fifty-one thousand seven hundred ninety-four rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

Use the published table

Find the exact published value

Choose a table, then pick its row and column. This shows the exact entry published by the bank or insurer without making you scan every cell.

Age · SEP-I individualAt least 18

This value is copied from DAY-NULM SEP parameters. Check the table notes before relying on it.

Source: DAY-NULM · SEP-I and SEP-G complete section Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 8 rows · 3 columnsDAY-NULM SEP parametersView tableHide table

Scroll sideways to view every column

DAY-NULM SEP parameters
ParameterSEP-I individualSEP-G group
AgeAt least 18All members at least 18
EligibilityUrban-poor individualAt least 3 members; at least 70% urban poor; no two from one family
Project/loan limitMaximum project cost ₹2 lakh₹2 lakh per member or ₹10 lakh, whichever is lower
MarginNil up to ₹50,000; preferably 5% above, never over 10%Same rule
FacilitySubsidised bank loanCash credit or term loan
RepaymentNot separately published5–7 years after 6–18-month moratorium
CollateralNo collateral for eligible loans up to ₹10 lakhSame; financed assets hypothecated/mortgaged/pledged
Interest subsidyAbove 7% for timely repaymentAbove 7%; additional 3% for timely women
DAY-NULM · SEP-I and SEP-G complete section · accessed 31 Aug 2026Open official source ↗

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