Micro finance scheme

Purpose	To meet the short term requirements or to pursue gainful activities. As a working capital / loan for his / her activity. For purchase of any consumer items, house repairs, medical expenses, education, and any other need.
Eligibility	One loan per Ration card per family
Loan Amount	Maximum Rs 100,000/-
Income Criteria	Annual Household Income Up to Rs 300,000/-
Rate of interest	16% p.a.
Repayment	Minimum 12 months - Maximum 36 months
Guarantors	• Minimum 2 guarantors per loan • One person can guarantee maximum 2 loans. • Maximum one member from the family can be obtained as guarantor
Processing fee	Loan Amount - Processing Fees Up to ₹ 0.25 Lakhs - NIL Above ₹ 0.25 Lakhs up to ₹ 0.50 Lakhs- ₹ 500/-+ GST Above ₹ 0.50 Lakhs up to ₹ 1.00 Lakhs- ₹ 1000/- + GST
Share holding	Nominal membership of applicant and guarantor for each loan
Documents	1. Photograph, Aadhaar Card/ Voter ID, PAN Card of the Borrower and Guarantors 2. 6 months bank statement; in case account maintained with other bank 3. Ration card (Compulsory) / Income certificate / Income proofs / Bank passbook. 4. Proforma Invoice in case of Asset creation 5. Declaration for end use of the funds

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