JLG Vertical

General Purpose Loan

As the name indicates, it’s a general purpose loan which can be used for any income generating activity.

Eligibility

All women who are interested in availing loan from us will have to undergo a 3 days training programme. They have to pass a simple test also based on the 3 days training inputs. After this, a homogeneous JLG group will be formed with members having common interest and are neighbours in one group. The group should have a minimum of 5 members and a maximum of 10 members. The group meetings are regular and all books of accounts are maintained and updated regularly.

Quantum of loan

The quantum of loan is need based and is linked to the repaying capacity based on the house hold cash flow. The maximum loan amount is also linked to the loan cycle. The first cycle loan limit is maximum of Rs.30000/- and increase by Rs.10000/- in each cycle subject to cash flow of the individual.

Loan tenure

Depending on the repayment capacity, the maximum tenure will be 36 months. The loan is repayable in monthly instalments

Interest rate

• Uniform interest rate at 25% irrespective of the quantum of loan.
• Interest is not compounded and on reducing balance.