Microfinance:
A loan from you can change someone’s life.
Our Members can avail the loan and debt financing facility as per the term and condition of the Society.
Interest Free Loan:
Gold Loan
- Funds mobilized from savings and other idle funds, interest free loans will be advanced to the members in various categories of loan.
- Loans will be provided to the members for fulfillment of education, consumption needs, treatment of medical needs etc.
- The loan is based on the basis of gold as rahn.
- The loan has to be returned in monthly installments within the stipulated period.
- Charges will be levied on this loan based on the estimated cost of operation.
Asset Creation: Cost Plus Loan
- The society will provide asset to its member.
- Vehicle loans will be provided on priority.
- The price of the asset will be in accordance with the agreed mutual agreement.
- Asset will be provided after receiving 25% of the agreed amount and the remaining amount has to be returned in equal monthly instalment.
Self Help Group Loan : Joint Group Loan
- Joint self-help group loans is a facility provided to members
- To avail loan on group guarantee from regular mutually agreed deposit scheme
Debt Financing:
Funds mobilized from special accounts and other idle funds. Debt financing facility will be provided to the members on decided terms and conditions or as decided from time to time.
- Murabaha,
- Mudarebaha,
- Ijarah (Operating leases) Etc.
Eligibility for Loan
Members desirous to avail loan facility shall have to apply in a prescribed loan application form subject to the condition that they hold shares of the society worth minimum 2.5% value of loan in case of secured loan and 5% value of the unsecured loan applied.