Micro credit loan unsecured D

For economic empowerment of women, micro credit is provided to improve their living conditions by providing small financial credit facility.

Micro credit loan unsecured D

Purpose of Loan

Purpose of loan should be personal, business, agriculture, dairy farming, self-employment activities, education, acquisition of consumer durables, consumption etc.

Geo Limit

GEO Limit: 30 Kilometers Distance of Group Members From Each Other: 500 Meters Only.

Interest Rates & Processing fees

CIBIL Score650 and Above (-1 Will be considered on a case-to-case basis)
Group Members RequiredMin. 5 and Max. 12 Members in a Group
Interest Rate26%
Processing FeeA Processing fee up to 2% (+GST) of the gross loan amount will be collected upfront.
Scheme Tenure12 to 24
Bounce Charge1st Instance Rs.500/-, 2nd Rs.750/-, 3rd Instance Rs.1000/-
RepaymentCash /Online Payment (Group Collection)
Penal Charge (Not to be Compounded)1.5% Per month on Overdue amount over the contracted rate of Interest.

Micro credit Mid term loans (MTL) Unsecured

Micro credit Mid term loans (MTL) Unsecured

Eligibility

The MTL Scheme applicable only for existing borrowers with household income of the borrower is above Rs 3 lakh per annum. MTL will be available after 6th instalment, for customers who have made 100% on-time payment of 6 immediately previous instalments. For this purpose, the payments made within 7 days from the due date will also be considered as ontime payment. Applicable to members of the JLG and minimum 3 members should participate under the scheme

Pricing & Processing fees

Loan AmountRs. 5,000 and multiples of Rs. 1,000 up to Rs. 20,000, subject to a maximum of 50% of the original loans. Repayment obligations should not exceed 50% of the family income.
Loan Tenure12 to 18 months, subject to the tenure of MTL should complete along with the current loan tenure.
Pricing of Loans26.00%
Processing FeeA processing fee up to 2% (+GST) of the gross loan amount will be collected upfront.
InsuranceActual cost of insurance will be collected upfront.
Bounce Charge1st Instance Rs.500/-, 2nd Rs.750/-, 3rd Instance Rs.1000/-

Micro Credit Loan (MA- Aasare) Unsecured

Emergency Loan (Micro Credit loan) - 'MA - Aasare' It is convenient to meet the urgent cash needs of group members.

Micro Credit Loan (MA- Aasare) Unsecured

Eligibility

The loan will be available after 3rd instalments, for customers who have made 100% on-time payment from last 3 instalments.

Documents required

  • Aadhar Card ,Pan Card, Voter ID ,Ration Card Electricity Bill Own House Land Tax Receipt Applicant and Guarantor Paired Photo 2 no’s Photo of group members and photo of individual borrowers in front of their house Cam Report.
  • Guarantor: Aadhar Card Pan Card Voter ID

Micro credit loan secured

The business unit provides for productive purpose/ expansion. The personal use take declaration from the customers, other than any speculative transaction End use declaration to be taken from customers. Target Location PAN India."

Micro credit loan secured

Eligibility

  • Applicants should be woman.
  • State/ Central Government Permanent employees.
  • Salaried Individuals working with private sector
  • SENP- Self-employed Non- Professional Individuals
  • SEP- Self-employed individual professionals.
  • Minimum Rs-27,000/- Monthly (Annual income above 3.25 lakhs only considered.)
  • Within 100 km from Micro Credit Loan branch Property as well as customer’s business should within this limit.

     

Interest Rates & Charges

Loan Amount Bureau Score Rate of Interest2 lakhs to 15 lakhs Minimum 650 & -1
18% to 24%
Loan amount and interest rate varies according to the bureau score and terms condition of the Micro credit secured credit policy.
Processing Fee2% of loan amount + applicable taxes
Penal Charge1.5% per month on the overdue amount for the actual number of days due
Bounce ChargeRs. 500/- for first instance
Rs. 750/- for second instance
Rs. 1000/- from third instance onwards
Foreclosure Charge3% of principal outstanding plus applicable tax

Contact officials

PostStateOfficial Contact Number
Branch HeadKarnataka8714698195
Branch HeadKarnataka8714698188
Branch HeadKarnataka8714698189
Branch HeadKarnataka8714698193
Branch HeadKarnataka8714698199
Branch HeadKarnataka8714698190
Branch HeadKarnataka8714698191
Branch HeadTamilnadu8714698192
Sales HeadKerala8714698218
Business HeadKerala8714612825

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