Credit Services

PRERONA

Product Information

Entrepreneurship

Loan Product Name

PRERONA

Brief Description

This loan product is exclusively designed for the poor women in underserved areas who engaged in self-employment and small income generating activities but do not have enough own capital to run the activities.

Target Clients

  • The women who are engaged in income generating activities.
  • In rural areas, the women who are engaged as small farmer, allied agriculture activities, food processing, petty trading etc.
  • In semi and peri urban areas, the women who are engaged in more diverse activities like shopkeepers, service providers, street vendors, artisans etc.

Criteria of a client

  • The above-mentioned women who engaged in small income activities.
  • Between 18-58 years old
  • Should have a income generating activity
  • Annual Household income should not be more than ₹1,25,000/- for rural areas & that should not be more than ₹2,00,000/- for semi-urban and  urban areas.
  • Not have outstanding account with more than one MFI.
  • Total indebtedness should not exceed ₹1,25,000/-

Purpose

  • Farm
  1. Agriculture – Paddy, Wheat, Jute, Vegetable cultivation
  2. Agriculture Allied – Dairy, Poultry, Fishery, Duckery, Piggery, goatery etc.
  • Non-Farm
  1. Small business – Grocery, Stationery, Readymade Garments, Tea stall, Food stall, Electronic & Electrical, Mobile shop etc.
  2. Small Transport – Van, Rickshaw etc.
  3. Service – Laundry, Saloon, Cobbler, bookbinding repairing shop etc.

Lending Methodology

Individual (through Group)

Loan Ceiling

Maximum

₹ 30,000/-

Minimum

₹ 10,000/-

Subsequent increase amount

Maximum ₹ 20,000/- from previous loan amount (depends on evaluation marks)

Tenure

Maximum

One year

Interest & Fees

Rate of Interest

22.33% p.a. on reducing balance (Effective from 1st October, 2020)

Processing Fees

1% on loan amount

Insurance Fees

0.80% on loan amount

GST

18% on processing fees

Mode of Repayment

Weekly/Fortnightly/monthly as per borrower choice

ANANYA

Product Information

Entrepreneurship

Loan Product Name

ANANYA

Brief Description

This loan product is exclusively designed for the poor women in underserved areas who engaged in self-employment and small income generating activities but do not have enough own capital to run the activities.

Target Clients

  • The women who are engaged in income generating activities.

 

Criteria of a client

  • The above-mentioned women who engaged in small income activities.
  • Between 18-58 years old
  • Should have a income generating activity
  • Annual Household income should not be more than ₹1,25,000/- for rural areas & that should not be more than ₹2,00,000/- for semi-urban and urban areas.
  • Not have outstanding account with more than one MFI.
  • Total indebtedness should not exceed ₹1,25,000/-

Purpose

  • Farm
  1. Agriculture – Paddy, Wheat, Jute, Vegetable cultivation
  2. Agriculture Allied – Dairy, Poultry, Fishery, Duckery, Piggery, goatery etc.
  • Non-Farm
  1. Small business – Grocery, Stationery, Readymade Garments, Tea stall, Food stall, Electronic & Electrical, Mobile shop etc.
  2. Small Transport – Van, Rickshaw etc.
  3. Service – Laundry, Saloon, Cobbler, bookbinding repairing shop etc.

Lending Methodology

Individual (through Group)

Loan Ceiling

Maximum

₹50,000/-

Minimum

₹31,000/-

Subsequent increase amount

Maximum ₹ 10,000/- from previous loan amount (depends on evaluation marks)

Tenure

Maximum

Two years

Minimum

Two  years

Interest & Fees

Rate of Interest

22.33% p.a. on reducing balance (effective from 1st October, 2020)

Processing Fees

1% on loan amount

Insurance Fees

0.80% on loan amount

GST

18% on processing fees

Mode of Repayment

Weekly/Fortnightly/Monthly as per borrower's choice

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