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Micro Loan

Micro Loan


Credit Line-1:

Under the Micro Financing Scheme, micro-credit is extended to the members of the Self Help Groups (SHGs), specially the minority women scattered in remote villages and urban slums, who are not able to take advantage of the formal banking credit. RMFDCC is implementing the scheme on the pattern of Grameen Bank of Bangladesh and Rashtriya Mahila Kosh (RMK). The scheme ‘requires that the beneficiaries are organized into Self Help Groups (SHGs) and get into habit of thrift & credit, however small.

The scheme envisages micro-credit to the poorest among the poor through NGOs of proven track-record and their network of Self Help Groups (SHGs). It is an informal loan scheme which ensures quick delivery of loan at the door steps of the beneficiaries. Under this scheme, small loans up to a maximum of Rs. 1.00 lacs per member of SHG are provided through the NGOs / SHGs. The scheme is implemented through the SHGs as well as the NGOs. Funds are given to the NGOs at an interest rate of 2%, which further on-lend to the SHGs, at an interest rate not more than 7% p.a. The repayment period under the scheme is maximum of 36 months.

S. No.

Parameters

Scheme Details

1.

Loan Amount

Up to Rs. 1.00 Lakh per member of SHG

2.

Rate of Interest for NGOs

2% p.a.

3.

Rate of Interest for SHGs by NGOs

7% p.a. (Margin for NGO 5%)

4.

Rate of Interest for SHGs

7% p.a.

5.

Rate of Interest for Beneficiaries/ SHGs

7% p.a.

6.

Moratorium period

3 Months

7.

Delegated authority to SCA to sanction loan to NGOs/Federation

Limit of Rs.25.00 Lakhs per NGO/Federation

8.

Repayment period for the Beneficiaries

3 Years

9.

Repayment period for the NGOs

3 Years

10.

Utilization Period for the NGOs

1 Month

11.

Means of Financing NMDFC: SCA : Beneficiary Contribution

90: 5 : 5

  Credit Line -2:
This scheme envisages credit to the poorest amongst the poor through SCAs/NGOs and network of Self Help Groups (SHGs). It is an informal loan scheme which ensures quick delivery of loan at the door steps of the beneficiaries. Under this scheme, small loans up to a maximum of Rs. 1.50 lacs per member of SHG and Rs.30.00 lacs to a group of 20 women are provided through the NGOs & network of SHGs. Funds are given to the NGOs/ SHGs, which further on-lend to the SHGs or their members, at an interest rate not more than 10% p.a. for male beneficiaries & 8% p.a fro women beneficiaries.

S. No.

Parameters

Scheme Details

1.

Loan Amount

Up to Rs. 1.50 lac  per member of SHGUp to Rs.30.00 lacs for a group of 20 members in one SHG

2.

Rate of Interest for NGOs

5% p.a. for male beneficiaries3% p.a for women beneficiaries

3.

Rate of Interest for SHGs by NGOs

10% p.a. (Margin for NGO 5%) for male beneficiaries.8% p.a. (Margin for NGO 5%) for women beneficiaries.

4.

Rate of Interest for SHGs

10% p.a. for male beneficiaries 8 % p.a  for women beneficiaries.

5.

Rate of Interest for Beneficiaries/SHGs

10% p.a. in case of male beneficiaries 8 % p.a. for women beneficiaries.

6.

Moratorium period

3 months

7.

Repayment period for the Beneficiaries

3 years

8.

Repayment period for the NGOs

3 years

9.

Utilization Period for the NGOs

1 month

10.

Means of Financing NMDFC : SCA : Beneficiary contribution

90 : 5 : 5