| Product | Features | Benefits | ||||||||||||||||||||||||
| Income Generation Loans (IGL) - Aarambh | Loans range from Rs. 9,100 to Rs. 20,010 for the first loan; subsequent loan amounts determined by past credit history and increased each in set increments up to a maximum of Rs. 29,565 Term of the loan is 50 weeks with principal and interest payments due on a weekly basis 19.75 % annual effective interest rate and processing fee of 1% |
Provides self-employed women financial assistance to support their business enterprises, such as raising livestock, running local retail shops called kirana stores, providing tailoring and other assorted trades and services | ||||||||||||||||||||||||
| Mid-Term Loan (MTL) - Vriddhi | Loans range from Rs. 9,100 to Rs. 15,010 for the first loan; subsequent loan amounts determined by past credit history and increased each in set increments up to a maximum of Rs. 15,010 Available any time after the completion of 19th weeks & till 46th weeks of an IGL cycle and till 96th week of LTL cycle. Term of the loan is 50 weeks with principal and interest payments due on a weekly basis 19.75% annual effective interest rate and processing fee of 1% |
Provides self-employed women financial assistance to support their business enterprises, such as raising livestock, running local retail shops called kirana stores, providing tailoring and other assorted trades and services | ||||||||||||||||||||||||
| Long Term Loan (LTL) | Loans range from Rs. 30,915 to Rs. 38,635 for the first cycle loan; subsequent loan amounts determined by past credit history and increased each in set increments up to a maximum of Rs. 49,785 Term of the loan is 2 Years 104 weeks with principal and interest payments due on a weekly basis Members must have completed 2 IGL Cycles 19.75% annual effective interest rate and 1% processing fee of loan amount disbursed |
Provides self-employed women financial assistance to support their business enterprises, such as raising livestock, running local retail shops called kirana stores, providing tailoring and other assorted trades and services To Increase Members Working Capital for their business |
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| Biomass Cook-stove Loan
Solar Light Loan Water Purifier Loan Mobile Phone Loan Bicycle Loan Sewing Machine Loan |
Loan amount ranges from Rs. 1,799 to Rs. 5,290. Loan tenure is 25 weeks Annualized Interest rate ranges from 19.60 % to 19.70% depending on the product |
Loans are offered to members for purchase of products like cook-stove/ solar light/ water purifier/ mobile phone/ bicycle and sewing machine to enhance their productivity and income generation ability |
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| Swarna - pushpam Gold Loan | SKS MICROFINANCE SWARNAPUSHPAM GOLD LOAN SCHEME CHART (effective from March 30, 2015)
As per RBI KYC norms, identity, age and address proofs are required for loan processing. |
Provides personal or business loans to our members and non-members secured by gold jewellery to meet their short-term liquidity requirements. |
Note 1: "In accordance with the RBI's circular dated May 03, 2011 on 'Bank loans to Micro Finance Institutions (MFIs) - Priority sector status', with effect from June 01, 2011, the Company plans to charge a processing fee of 1% (of the loan amount) on all microloans offered across India. The credit shield Insurance premium will be collected from the borrowers on actual basis without any administrative charges."
Note 2: Per RBI circular DNBS. 204/CGM (ASR)-2009 dated January 2, 2009, SKS’s Board of Directors has discussed and formally adopted an interest model based on cost of funds, operational costs, and risks involved for each product.
