General Purpose Loans for Joint Liability Groups
The collective power of women
Joint Liability Groups increase the bargaining power of indivdual women. Women, who previously depended on their husbands' income, have utilized these loans for self-employment opportunities, fostering hope for their future and their children's future. JLG loans have been successful in reducing vulnerability to money lenders and enhanced self-esteem for women borrowers.
Product Information
General Purpose Loan As the name indicates, this is a general purpose loan which can be used for any income generating activity.
Eligibility
All women who are interested in availing this loan have to undergo a 3-day training programme. They must pass a simple test that is based on the 3 days of training inputs.
After this, a homogeneous JLG group is formed, grouping together women who are neighbours or have common interests. Each JLG group must have a minimum of 5 members and a maximum of 10 members.
The group must hold regular meetings and ensure that all books of accounts are maintained and updated regularly. .
After this, a homogeneous JLG group is formed, grouping together women who are neighbours or have common interests. Each JLG group must have a minimum of 5 members and a maximum of 10 members.
The group must hold regular meetings and ensure that all books of accounts are maintained and updated regularly. .
Quantum of Loan
The quantum of loan is need-based and is linked to the repaying capacity based on the household, based on their cash flow.
The maximum loan amount is also linked to the loan cycle. The first cycle loan limit is a maximum of INR 30000/- and increases by INR 10000/- in each cycle, subject to cash flow of the individual.
Depending on the repayment capacity, the maximum tenure will be 36 months.
The loan is repayable in monthly instalments .
Interest rate
Variable, Fixed in accordance with RBI Guidelines