F.A.Q

1. Question- What is the maximum & minimum loan amount?

Answer— Presently Maximum Loan Amount is Rs.10, 000.00 (Rupees Ten Thousand) only and Minimum is Rs. 3000.00 (Rupees Three Thousand) only (based on the profile of the beneficiary)

2. Question -What is the rate of interest?

Answer- The rate of interest is 2.8% monthly at present. The rate of interest will definitely decrease as the volume of activity will increases.

3. Question -Why rate of Interest is high?

Answer- High operating cost is involved. For example funding Rs. 1.00 Lakh to a single individual requires less operating cost compared to the situation where the same amount is disbursed as loan among several individuals in a group. 

4. Question- Is there any collateral or security required to get a loan?

Answer- Presently no collateral & security is required. Initially we took 5 % security on the loan amount but from February 2009 we do not take any security.

5. Question- What are the processing fees & tenure for re-payment?

Answer- Processing fees is 2 % of loan amount & tenure for repayment is 48 weeks

6. Question- What are the documents required?

Answer- Documents required are

1.      Identity Proof  ( HSLC Admit / Driving License / Bank statement with photo )

2.      Residence Proof ( Bank statement / Electricity Bill / Mobile Phone Bill / LICI Policy / Driving License / Ration Card/landlord E bill )

3.      Three Passport size photo two of the applicant one of her husband in case of widow group member’s photo also work.

4.      If above all documents are unable to provide then one of the group members guarantor ship can help to fund her loan.