Products and Services

In accordance with the RBI Press Release, the rate of interest for quarter Oct-Dec, 2020 shall be charged at 22.33% per annum on reducing basis.

Products at a glance:

Joint Liability Group (JLG) Loan
Individual lending for Micro Enterprise
Women Entrepreneurship Loan
WASH Loan

 

1. Joint Liability Group (JLG) Loan:

S. No Loan Amount Tenure Repayment Cycle Loan Processing Fee (LPF) Insurance Premium (Client + Gurantor)
1. Rs. 15,000/- to Rs. 20,000/- 1 year Bi-Weekly 1% of Loan Amount 1.088% of Loan Amount
2. Rs. 25,000/- to Rs. 30,000/- 1.5 year Bi-Weekly 1% of Loan Amount 1.628% of Loan Amount
3. Rs. 35,000/- to Rs. 40,000/- 2 year Bi-Weekly 1% of Loan Amount 2.134% of Loan Amount

 

2. Individual lending for Micro Enterprise:

IFSPL launched Micro Enterprise Loan.

Product specification are below:

Product name Micro Enterprise Loan
Borrower Female or Male
Business Capacity/ Turnover 3- 10 lacs per annum
Loan Purpose Credit for working capital or business expansion
Loan Amount INR 50K- 100K
Loan Tenure Upto 2 years
Interest Rate 24% per annum on reducing balance 
Loan processing fee 2% (of loan amount) + 18% GST
* Rate of Interest is subject to change as per RBI Quarterly guideline
** For Client Insurance- Mitrata has partnered with Primerica Life Insurance Co. Ltd and Kotak

 

3. Women Entrepreneurship Loan:

We provide Women Entrepreneurship Training and credit support for launch of enterprise

  Cycle -1 Cycle-2
Loan Amount  10k-35k

10k - 60k

Loan Tenure 12/18/24 months

18/24 months

Repayment Cycle Bi-weekly/ 28 days Bi-weekly/ 28 days
Rate of Interest* 22.33% on reducing principal 22.33% on reducing principal
Loan Processing Fees 1% + GST 1% + GST
Life Insurance** Premium covering both client & gaurantor

1.088/1.628/2.134 %

1.628/ 2.134%
* Rate of Interest is subject to change as per RBI Quarterly guideline
** For Client Insurance- Mitrata has partnered with Primerica Life Insurance Co. Ltd and Kotak

 

4. WASH Loan:

Loan Purpose New Toilets Toilets renovation
Loan Amount 

20k – 25k

10k - 15k

Loan Tenure 18 months 12 months
Repayment Cycle Bi-weekly/ 28 days Bi-weekly/ 28 days
Rate of Interest* 22.33% on reducing prinicipal 22.33% on reducing  principal                                                   
Loan Processing Fees 1% + GST 1% + GST
Life Insurance** Premium covering both client & gaurantor 1.088% 2.173%
*Rate of Interest is subject to change as per RBI Quarterly guideline
** For Client Insurance- Mitrata has partnered with Primerica Life Insurance Co. Ltd and Kotak