Product Features

Product Overview

Loan Size: ₹10,000 – ₹70,000
(Subject to assessment of need and capacity of the borrower)

Processing Fee: 1.5% of Loan Amount

Loan Tenure: 06 Months to 24 Months

This loan is given to a group of 05 to 15 women members who carry out small business activities under JLG model.

Minimum Interest Rate 25.00% p.a.

(Reducing Balance)

Average Interest Rate 25.75% p.a.

(Reducing Balance)

Maximum Interest Rate 26.50% p.a.

(Reducing Balance)

Sl.No	Loan Amount (₹)	Loan Type	Tenure	LPF	Interest Rate p.a (Reducing Balance)
1	10,000	JLG	06 months	1.50%	25%
2	15,000	JLG	06 / 12 months	1.50%	25%
3	20,000	JLG	12 / 18 months	1.50%	25%
4	25,000	JLG	12 / 18 months	1.50%	26%
5	30,000	JLG	12 / 18 months	1.50%	26%
6	34,000	JLG	12 / 24 months	1.50%	26%
7	35,000	JLG	18 months	1.50%	26.50%
8	40,000	JLG	18 / 24 months	1.50%	26.50%
9	45,000	JLG	18 / 24 months	1.50%	26.50%
10	50,000	JLG	18 / 24 months	1.50%	26.50%
11	55,000	JLG	18 / 24 months	1.50%	26.50%
12	60,000	JLG	18 / 24 months	1.50%	26.50%
13	65,000	JLG	24 months	1.50%	26.50%
14	70,000	JLG	24 months	1.50%	26.50%

Only women borrowers are eligible
The borrower must be a member of a Joint Liability Group (JLG)
The borrower must have an active bank account
The borrower’s annual household income should not exceed ₹3,00,000 (or ₹25,000 per month)
The borrower’s total indebtedness should not exceed 50% of income
The maximum disbursement limit at a time is ₹70,000
In the first loan cycle, the loan amount should not exceed ₹40,000

All Loans are collateral free
Loans are disbursed directly into the customer’s bank account
No penal interest is charged for delayed payments
Both the borrower and co-borrower (a family member) are covered under insurance
Prepayment of loans is allowed without any penalty
Loans are repayable through fortnightly or monthly instalments, as per the choice of the borrower/group