Nightingale

Changing lives of the people……

Loan Product

Loan size

Rs.1000.00 - RS.10,000.00 in

1st Cycle

Rs.5,000.00 - Rs.15,000.00 in

2nd Cycle

Rs.10,000.00 - Rs.20,000.00 in

3rd Cycle

Rs.15,000.00 - Rs.25,000.00 in

4th Cycle

Rs.20,000.00 – Rs.35,000.00 in

5th Cycle

Rs.30,000.00 – Rs.40,000.00 in

6th cycle

Rs.45,000.00 on wards

7th cycle

Tenure of loan

12 Months,18 Months and 24 Months as per RBI norms

Repayment Frequency

Weekly/fortnightly/monthly as per choice of the borrower

MODALITY

Loan to individual with Joint Liability Group of 4- 5 women members

PURPOSE

For income generating activities (both start-up and financing of existing projects)

INTEREST ON LOAN

25% p.a (on reducing balance method)

LOAN PROCESSING FEE
ON EACH LOAN

Actual cost of Insurance Premium i.e. @ 5.64 per thousand including Service Tax on loan amount disbursed to clients (in case of death of client during the currency of loan, insurance company pays the insured amount) is collected from client.

INSURANCE

1% of the disbursed amount and Service tax is collected @ 18 % on loan processing fees.