Other Guidelines
  • We are complying with both the guidelines as prescribed by RBI circular dated May 03, 2011 pertaining to Bank loans to Micro Finance Institutions (MFIs) - Priority Sector Status and the introduction of new category of NBFCs - Non Banking Financial Company - Micro Finance Institutions(NBFC-MFIs ).
  • Loans are sanctioned for supporting and enabling the members for undertaking Income Generating activities.
  • Processing fee is charged at the time of disbursement.
  • Borrowers and their spouse are covered under insurance.
  • Penalty is not charged in case of default.
  • Prepayment allowed but without penalty.
  • Admission fee will not be taken.
  • Loan is without collateral.
  • Security deposit is not taken at the time of disbursement.
  • Loan is repayable by weekly, fortnightly or monthly installments at the choice of the borrower.