| Loan Size |
Rs. 12000 to 80000 |
| Products Offered |
IGL- Income Generation Loan
MTL- Mid Term Loan
|
| Rate of Interest |
Maxium interest rate - 24%
Minmum interest rate - 24%
Average interest rate - 24%
*Interest rate linked with 1 year MCLR with no reset
|
| Loan Tenure |
24 months |
| Collateral |
Unsecured loans |
| Applicable charges |
Processing fee is 1% plus GST rounded to lower multiple of 100 to be charged to the customers for all the loans above Rs. 25000. No Pre-payment or Foreclosure charges |
| Insurance coverage |
Customer and spouse/blood relative both covered against the loan amount if customer opts. Insurance premium to be borne by the customer. |
| Purpose of loan |
Income generating activities and Social needs like housing, education, marriage, sanitation, etc. |
| Other Features |
Customers have to form a Joint Liability Group to avail the loan. Each group member assumes the liability for the loans of all other members in the group.
|
| Application form |
Click here for Application form |
| Agreement |
Click here for Agreement form |
| Customer redressal toll free no |
1800-419-5577 |
| penal interest |
Nil |
| Channels |
Axis Bank branches |
| Eligibility |
Individuals those are eligible for Sahyog loans are
- Rural and semi urban & urban women
- Age of the customers should be Minimum 18 years and maximum 60 years till the end of loan tenure.
|
| Fair Practice Code for Retail Microfinance |
Click here for FPC |
