| Income Generation Loan | ||
|---|---|---|
| Loan size (Rs) | Min: 5000 | Max: 60000 |
| Tenure | 52 to 104 weeks | |
| Rate of interest (On diminishing balance method) | 22.50% to 25.00% | |
| Repayment Frequency | Weekly, Monthly | |
| Emergency Loan | ||
|---|---|---|
| Loan size (Rs) | Min: 2000 | Max: 10000 |
| Tenure | 52 to 104 weeks | |
| Rate of interest (On diminishing balance method) | 22.50% to 25.00% | |
| Repayment Frequency | Weekly, Monthly | |
Loan Details
- Direct loans are provided to our customers to start a new micro-enterprise or to expand an existing one, funding education of their children, medical emergencies, unplanned business requirements, etc. Many members also utilize these loans to fund their working capital requirements
- Women Joint Liability Group members of Mehandipura Tradelink (P) Ltd are eligible for this loan
- 1% Processing fee and 18% GST is applicable for all loans
- Maximum of 2% of loan amount is applicable for Member Insurance
- Maximum of 2% of loan amount is applicable for Guarantor Insurance
- Additional Interest of 22.50% to 25.0% will be charged against defaulted EWIs (Equated Weekly Instalments)
- Moratorium period would be equal to the periodicity of the loan (i.e., 7 days for weekly, 1 calendar month for monthly etc.)