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Product - Micro Loans Product - Micro Loans

MICROFINANCE ASSET PRODUCTS

Our micro loan products encompass solutions and are designed to cater the varying needs of our target customer segments. Micro loan products categorized into group loans and individual loans range from `2,000 to `2,00,000. Our products empower the initiatives of “economically active poor” and the “missing middle” customers segments and help them fulfill their dreams.

Group Loan

1. Group Loans

These are purpose based loans given at moderate rates under Joint Liability Group (JLG) model. It includes following products:

    • Business Loan

    • Family Loan

    • Agriculture and Allied Loan

    • Education Core Loan

    • Business Top-up Loan

    • Emergency Loan

    • Education Loan (Top up)

    • Loyalty Loan

Loan Amount: `2,000 – `50,000

Rate of Interest: 21.25% p.a on a reducing balance method method (governed by the MCLR based pricing policy of the bank)

Processing Fee: 1% of loan amount (excluding applicable GST) (applicable for loans above `25,000)

Credit Bureau Charges: `10 (including applicable GST) (applicable for loans above `25,000)

Tenure: 1 year/1.5 years/2 years


Individual Loan

2. Individual Loans

Purpose based loans given on an individual basis to our customers without any group guarantee. It includes following products:

    • Individual Business Loan (IBL)

    • Individual Livestock Loan (ILL)

    • Home Improvement Loan (HIL)

    • Individual Agriculture Loan (IAL)

    • Individual Bazaar Loan (IBZL)

    • Open Market Livestock Loan (OMLL)

Loan Amount: `51,000 – `2,00,000 (`1,00,000 for IAL)

Rate of Interest: 23.25% p.a on a reducing balance method (24% for IBZL) (governed by the MCLR based pricing policy of the bank)

Processing Fee: 1% - 2% of loan amount (excluding applicable GST)

Franking Charge/Stamp duty: As per state act

Late payment charge: `100 per late EMI (including applicable GST)

Pre-closure charge: 2% of the principal outstanding including applicable GST (There is no pre-closure charges if a customer pre-closes her loan after paying 80% of her installments.) (Not applicable for HIL)

Tenure: 6 Months – 36 Months


Two Wheeler Loan

3. Two Wheeler Loan

Ujjivan Small Finance Bank are offering Two Wheeler Loan to our existing micro-banking loan customers and their family members with good repayment track record.

  • Features:

    • Existing Micro banking customers and their family members
    • Simple Documentation
    • Affordable Rate of Interest
    • Loan To value upto 80%


  • Eligibility & Other Terms & Conditions:

    • Existing Micro Banking customers with at least 12 months EMI relationship with the bank
    • Clear Credit Bureau track record
    • Guarantor Mandatory
    • Repayment through Ujjivan Savings Account( Standing Instruction)
    • Age- 18 -60 Years ( Maximum 60 Years Age at the time of closure of loan)
    • Business/Employment Stability - 1 Years
    • Residence Stability - 1 Years


  • Loan Amount: `2,000 – `50,000

    Rate Of Interest: Upto 21.25%

    Processing Fee: 2%

    Amount `20,000 - `75,000

    Loan To Value : Upto 80%

    Tenor : 12-36 Months

    Late Payment Charges : The late payment charges will be `250 (inclusive of applicable GST) for every late EMI Late Payment is defined as an EMI not collected within 3 days from due date

    Stamp Duty Charges : As per Relevant State Stamp Act

    Pre-Closure Charges : Any pre-closure of loan on or before 12 months will attract a pre-payment penalty of 2 % p.a. of principal outstanding, plus taxes as applicable;No pre-closure penalty after completion of 12 months from the date of disbursement

    Credit Shield :

    Insurance premium amount

    1 year tenure: `4.20 (inclusive of applicable GST) per `1,000 of loan amount, rounded to the nearest rupee per insured person

    2 year tenure: `8.39 (inclusive of applicable GST) per `1,000 of loan amount, rounded to the nearest rupee per insured person

    3 year tenure: `12.59 (inclusive of applicable GST) per `1,000 of loan amount, rounded to the nearest rupee per insured person