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About of Group Loan....

Group Loan is a unique financial solution designed to provide accessible credit to individuals who are unserved or underserved majorly for income generating activities. Whether you are a small business owner, farmer, or salaried, this loan can help you achieve financial independence and invest in your future.

  • Group loan is a type of product that uses the method of compiling a loan guarantee group. This approach prioritizes clients in choosing their own group with 2 to 6 members and forming a village bank with 20 groups or up to 100 team members.

    • Eligibility Criteria :

  • Should fulfil KYC documents requirements
  • Age should be between 18 to 60 years
  • Should not have an adverse credit record
  • Utility bill (not more than 60 days old)
  • Should be part of a group of customers who are willing to guarantee each other for the repayment of loan

    • Details of SHG(Self Help Group)

    SHGs is a small economically homogenous and affinity group of people voluntarily formed to save and mutually agree to contribute to a common fund to be lent to its members as per group decision.

    Eligibility
    a.)Members of Backward Classes as notified by Central/State Govt. from time to time.
    b.)Applicant's annual family income should be upto Rs.3.00 Lakh.
    c.)In a SHG atleast 60% members must belong to Backward Classes provided other members belong to weaker sections (as per income or economic criteria prescribed by Govt.) including Scheduled Castes/Scheduled Tribes/Minorities and Person with Disabilities (PwD).

    Schemes..
    1.)Maximum loan limit per SHG      - Rs.15.00 Lakh
    2.)Maximum loan limit per beneficiary      - Rs.1.25 Lakh
    3.)Maximum number of persons in one SHG      - 20

    Our Schemes..









     

    What is Group Loan Daily?.

    The group loan daily is designed to cater the financing needs of the economically active poor, who have limited or no access to the formal financial system. It offer customers loans for both income generation and consumption requirements.

  • Group Loan Daily is a unique financial solution designed to provide accessible credit to individuals who are unserved or underserved majorly for income generating activities.
  • The group loan daily setting provides a system of peer support and accountability, which can improve repayment rates.
  • We Provide Group Loan 100 Days plan From Amount 5000 To 20000.

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    What is Group Loan Weekly?.

    Group loans weekly, often offered by microfinance institutions or banks, are a financial solution where a group of individuals collectively take on a loan, with each member individually liable for repayment, and often with a weekly repayment schedule.

  • Collective Borrowing: A group of individuals, typically 4-10, come together to apply for a loan.
  • Individual Liability: Each member is individually responsible for repaying their share of the loan, even if other members default.
  • Peer Support: The group setting provides a system of peer support and accountability, which can improve repayment rates.
  • Empowerment: Group loans can empower individuals, particularly women, by providing them with access to financial resources and opportunities.
  • Plan: We Provide Group Loan 24 Week plan From Amount 5000 To 50000.
  • Plan: We Provide Group Loan 36 Week plan From Amount 5000 To 50000.

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    What is Group Loan Monthly?.

    A Group loans Monthly, is a lending mechanism where a group of individuals, collectively guarantees a monthly loan, with each member receiving an individual portion of the loan amount and the group providing support and a system of peer pressure for repayment.

  • Collective Guarantee: The group, rather than individual members, provides the collateral or loan guarantee.
  • Peer Pressure for Repayment: The group's members are incentivized to repay the loan on time, as if one member defaults, the other members are responsible for making up the payment.
  • Access to Credit: Group loans often cater to self-help groups and microfinance initiatives, providing an affordable option for those looking to buy essential goods or start a business.
  • Purpose: Group loans are designed to provide accessible credit to individuals who are unserved or underserved, primarily for income-generating activities.
  • Joint Liability Group (JLG) Loan: An informal group of 4-10 individuals form a group to avail a bank either individually or collectively.