Joint Liability Group

Exclusive Loan for Women Group

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Joint Liability Group Loan

Collateral free loans extended to women for upliftment of their business and betterment of their livelihood

  • 10 individuals coming together for the purpose of availing bank loan on individual basis or through group mechanism against mutual guarantee.
  • The members should be residing in the same village/ area/ neighbourhood and should know and trust each other well enough to take up joint liability for group/individual Loans.
  • The JLG should hold regular meetings under effective leader of group to discuss issues of mutual interests.
  • Members should belong to similar socio-economic status, background and environment carrying out farming and Allied activities and who agree to function as a joint liability group. The groups should be homogeneous and organized by likeminded farmers/Individuals and develop mutual trust and respect.
  • The members should be residing in the same village/ area/ neighbourhood and should know and trust each other well enough to take up joint liability for group/individual Loans.
  • Members who have defaulted to any other formal financial Institution, in the past, are debarred from the Group Membership.
  • More than one person from the same family should not be included in the same JLG.
  • KYC Documents (AADHAR, Voter ID, PAN Card, Driving License etc.)
  • Passport Size photo
  • Letter of Sponsorship from the Sponsoring agency.
  • JLG Membership Form
  • Loan Application Form
Type of facilityCash Credit/Term Loan
Quantum of Loan
  • Maximum Loan for Individual: Rs 1.00 Lakh
  • Maximum Loan to JLG: Rs 10.00 Lakhs
Rate of Interest
  • 36% per annum
Pre- payment and foreclosureNo prepayment penalty and foreclosure charges applicable
SecurityMutual Liability of all members
RepaymentMonthly

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