Microfinance Loan

  • Individual having low annual Households income.
  • Collateral-free loans irrespective of end use and mode of application/ processing/ disbursal
  • No requirement of keeping any deposit /collateral/primary security
  • Nil Margin / Nil borrower’s contribution
  • Maximum repayment tenure up to 36 months
  • Quick disposal of the loan
  • Nil processing charges Up to Rs.50,000/-
  • Low rate interest.
  • Maximum limit up to Rs. 2.00 lakhs per Individual
  • No penalty on prepayment of loan at any time


Upto Rs.160000/- Above Rs.160000/-
7 business days 14 business days

  • Individual having annual Households income up to Rs.3.00 lakhs.
  • Only one loan to be granted per household as Microfinance loan.
  • Monthly loan obligation of both Microfinance loan as well as non-microfinance loan should not exceed the ceiling of 50% of monthly income.
  • NBFC/NBFC-MFI are eligible under Co-lending/Pool Buy out model. In such case individual beneficiary should meet aforesaid eligibility criteria as per definition of Microfinance loan.


  • Application
  • Proof of identity (any one): PAN/Passport/Driver Licence/Voter ID
  • Proof of Address (any one): Passport/ Driver Licence/ Aadhar Card/ Latest Electricity Bill/ Latest Telephone Bill/ Latest Piped gas bill
  • Proof of Income (any one):
    For Salaried: Latest 6 Month Salary/Pay Slip and One year ITR/Form16
    For Self-employed: Last 3 years ITR with CA certified Computation of Income/Profit & Loss Account/Balance Sheet/Capital Account Statement
    For non ITR customers: Based on the predefined information parameters, local inquiries, other relevant documents (SB transactions, CIC reports etc.), annual family / Household income etc.

Rate of interest will be linked with Repo Based Lending Rate (RBLR), as under:

Minimum Maximum
4.00 Over RBLR 5.00 Over RBLR

Proposal Processing charges

  • Up to Rs.50,000/- :- Nil
  • Above Rs.50,000/- :- All inclusive (PPC, Documentation, Inspection charges) @ 1% of sanctioned limit.

Review Charges

  • Up to Rs.50,000/- :- Nil
  • Above Rs.50,000/- :- Rs.250/- flat.

These service charges are excluding the GST and subject to changes issued by Head Office from time to time.