Our Microbanking products encompass solutions and are designed to cater the varying needs of our target customer segments. Microbanking 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.
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
GL Top-up Loan
Emergency Loan
Education Loan (Top up)
Loyalty Loan
Loan Amount: `2,000 – `60,000
Rate of Interest: 22% p.a on a reducing balance method method (governed by the MCLR based pricing policy of the bank)
Processing Fee: 1.2% of loan amount (excluding applicable GST) (applicable for loans above `25,000)
Tenure: 1 year/1.5 years/2 years
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)
Higher Education Loan (HEL)
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) (Zero for HEL)
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 HEL and HIL)
Tenure: 6 Months – 36 Months (2 years – 7 years after commencement of repayment for HEL)
© 2019 Ujjivan Small Finance Bank Ltd. CIN NO: U65110DL2016PLC302481
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