Salient Features

• Ticket Size: 10,000 – 100,000
• Loan Tenure: 1 – 3 years
• Interest Rate: Will be applicable as per extant rates as advised by ALCO
• Nature of Interest Rate: Diminishing
• SMS Alerts: Available at time of disbursement, and instalment payment
• Loan Schedule: View option available through mobile apps

Note: Loan features may vary depending on geography to manage risk.

Security

• Type: Unsecured loan
• Group guarantee: Mandatory

Disbursement and Repayment

• Disbursement Mode: Through Savings Bank account
• Disbursement Frequency: 1 Tranche
• Repayment Frequency: Weekly/Fortnightly/Monthly
• Mode of Repayment: Sangam Meeting/Agent Banking
• Foreclosure option: Available - Client can pre-close loans at any point of time within the tenure of loan without any penalty

Charges

• Processing Fee: Up to 1.5% (Nil if loan amount is less than Rs. 25,000) plus Service charge prescribed by Government
• Life Insurance (Credit Shield): Available - rates applicable to the insurance scheme
• Late repayment and prepayment - No charge