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Amazon,Bank of Baroda associates to offer micro loans

Amazon, E-commerce player and Bank of Baroda joins hand to offer micro loans to its sellers. Loans will be given to marketplace seller on invite -only basis.

Loans will be given between Rs. 1 lac to Rs.25 lac at annual interest rates between 10.45 and 11.15%.

According to a bank official 15-20% of Amazon sellers will be getting on board on this programme in the next one year. Sellers on Amazon will get pre-approved indicative offers from the bank for the loan amount they are eligible. They can use the sale disbursements on Amazon to directly  repay the loan.

Read EquityPanit’s Technical Analysis on Nifty Bank

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