Our mikrobanking products encompass solutions and are designed to cater the varying needs of our target customer segments. Mikrobanking 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
Business 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% 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
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
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:
Eligibility & Other Terms & Conditions:
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
© 2018 Ujjivan Small Finance Bank Ltd. CIN NO: U65110DL2016PLC302481
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