Tailored Financial Solutions for Rural Progress
We offer need-based microfinance products that empower rural women and communities to build sustainable livelihoods and economic independence.
In accordance with the Master Direction – RBI (Regulatory Framework for Microfinance Loans) Directions, 2022
Products at a Glance
| Loan | Minimum Interest Rate (%) | Maximum Interest Rate (%) | Average Interest Rate (%) | Processing Fees (%) |
|---|---|---|---|---|
| Joint Liability Group (JLG) Loan | 26.50% | 26.50% | 26.50% | 1.50% |
| Water and Sanitation (WASH) Loans | 26.00% | 26.00% | 26.00% | 1.50% |
| Micro Enterprise Loans (MEL) or Individual Loans (IL) | 28.00% | 28.00% | 28.00% | 1.50% |
1. Joint Liability Group (JLG) Loan: Microfinance Loan
| Product name | Joint Liability Group (JLG) |
| Brief description of the products | JLG is a lending model that enables a group of individuals (usually five) to take loans for income generating activity by forming a group, wherein group members guarantee each others’ loans. |
| Target Segment (Borrowers) | Female |
| Loan Amount | INR 10,000 - 60,000 |
| Loan Tenure | 12/18/24 months |
| Repayment Frequency | Bi-Weekly, 2 Bi-Weekly, Monthly |
| Interest Rate (w.e.f. 04.07.2023) |
Min - 26.50% Max - 26.50% Avg. - 26.50% (per annum on reducing balance) |
| Loan Processing Fee | 1.50% (of loan amount) + 18% GST |
| Life Insurance Premium covering both client & guarantor | At actuals |
2. Water and Sanitation (WASH) Loans: Microfinance Loan
| Product name | Water and Sanitation (WASH) Loans |
| Brief description of the products | Wash loan is given to the individuals for sanitation facilities including construction/ refurbishment/ renovation of household toilets and water improvements. |
| Target Segment (Borrowers) | Female |
| Loan Amount | INR 15,000 - 50,000 |
| Loan Tenure | 12/18/24 months |
| Repayment Frequency | Bi-Weekly, 2 Bi-Weekly, Monthly |
| Interest Rate (w.e.f. 01.06.2023) |
Min - 26.00% Max - 26.00% Avg. - 26.00% (per annum on reducing balance) |
| Loan Processing Fee | 1.50% (of loan amount) + 18% GST |
| Life Insurance Premium covering both client & guarantor | At actuals |
3. Micro Enterprise Loans (MEL) or Individual Loans (IL): Non-Microfinance Loan
| Product name | Micro Enterprise Loans (MEL) or Individual Loans (IL) |
| Brief description of the products | Microenterprise loan is given to the individuals for working capital or business expansion purposes who have at least 3 years old business. The tenure of the Loan is 2 years. This loan can be sanctioned to male and female both |
| Target Segment (Borrowers) | Female or Male |
| Business Capacity/ Turnover | 3-10 lacs per annum |
| Loan Purpose | Credit for working capital or business expansion |
| Loan Amount | INR 50,000 - 2,00,000 |
| Loan Tenure | upto 24 months |
| Repayment Frequency | Monthly |
| Interest Rate (w.e.f. 24/07/2024) |
Min - 28.00% Max - 28.00% Avg. - 28.00% (per annum on reducing balance) |
| Loan processing fee | 1.50% (of loan amount) + 18% GST |
| Life Insurance Premium covering both client & guarantor | At actuals |
