Purpose:
To provide financial assistance through affiliated societies to joint liability groups constituted under the scheme of NABARD.

Features:
• Sanctioned as term loan for 03 years
• Indirect Loan for personal and any other requirements to group members
• Maximum loan up to Rupees 2.00 lakh per group
• Loan available at Zero Margin
• Collateral free loan

Advantage:
• Minimal Interest Rate
• Minimal Documents
• No collateral required
• Zero Processing Fee
• No hidden charges
• No Pre-payment penalty

Eligibility:
• Joint Liability Group constituted in area of operation of the bank affiliated with the society, whose members belong to lower income group or below poverty line.
• The group should be having meetings for last 6 months at regular intervals and saving the corpus and having internal transactions between the members
• Only one person eligible as group member from a family
• Affiliated societies of the bank, with accumulated profit and no record of fraud in its latest audit report.
• The amount of NPA should be within 10% limit.
• The PACS should have a permanent secretary appointed in it.

Rate of Interest:
• Rate 12.00%
• ROI is calculated on daily reducing balance

Charges:
• Zero Processing Fee
• Other Charges: No stamp duty charges

Documents Required:
For Joint Liability Group applying through society
• Application form duly filled and signed
• KYC Documents of the applicants of the group members
• Proceeding register and documents of the group
• Grading documents of the group by the branch manager
• Inter se agreement between the members
• Proposed Project Report to be undertaken by the group for which loan is applied
• Affidavit by the group

For society applying on behalf of Group:
• Application form duly filled and signed
• Proposal by the board of directors of the society
• Last 03 year audit reports
• Proposal of the constitution of the board members and appointment of the secretary in the society
• List of board of directors and their KYC
• KYC of the society and the secretary

*Terms & Conditions apply. For further details, Please contact your Nearest Branch