
Main Loan
The main loan is year loan with monthly repayments. Clients make monthly payments mostly during center meetings. A center is a meeting place, where group members perform their financial transactions such as repayment, withdrawals, deposit etc. Generally a group is composed of five members. The interest rate is 15% on declining basis if the clients pay the installment in center meeting. Before women can become members of SMFBS, and hence eligible for loans, they must complete the compulsory group training (minimum 3 days) and pass the group recognition test.
Year | Max Loan Size Rs. | Loan Term | Annual Interest Rate on declining balance | Repayment Frequency |
1 | Upto 100,000 | Maximum 4 year | 15.00% per annum | Monthly/Quaterly |
2 | Upto 300,000 | Maximum 5 year | 15.00% per annum | Monthly/Quaterly |
3 | Upto 7,00,000 | Maximum 7 years | 15.00% per annum | Monthly/Quaterly |
Agriculture Loan
This loan is used for seasonal opportunities like purchasing and selling of agricultural products and animals in festival seasons and is accessible to clients who have successfully completed one cycle of the main loan with good repayment performance.
S.No. | Product Name | Maximum Loan Size Rs. | Loan Term | Annual Interest Rate on Declining Balance | Repayment Frequency |
1. | Seasonal Loan | Upto 30,000 | 1 Year | 15.00% per annum | Monthly |
2. | Tube-Well/Irrigation Loan | Upto 1,00,000 | 2 Years | 15.00% per annum | Monthly |
Housing Loan
SMFBS uses a very specific targeting strategy to ensure that all first-time clients are very poor. As one of the targeting criteria is the absence of cement walls or ceiling in the client’s house, there is a strong demand for various types of housing loans. To access the housing loans the clients must have maintained strong credit discipline in the previous years, have improved economic condition from previous loans. SMFBS charges a interest rate of 15 percent on a declining balance with monthly repayments.
The loan size, loan term and other conditions for housing loans are as follows:
Loan Type | Maximum Loan Size Rs. | Loan Term | Annual Interest Rate | Repayment Frequency |
House construction | Upto 4,00,000 | 5 Years | 15.00% per annum | Monthly |
House repair | Upto 80,000 | 2 Years | 15.00% per annum | Monthly |
Homestead purchase | UPto 3,00,000 | 3 Years | 15.00% per annum | Monthly |
Toilet/Laterine | Upto 50,000 | 2 Years | 15.00% per annum | Monthly |
Microenterprise Loan
This loan targets graduates of collateral free loans and others people of the society. The clients eligible for this loan must have taken Main Loan, maintained strong credit discipline, have improved economic condition from previous loans, submit collateral, and demonstrate an ability to operate a micro-enterprise and Individual Loan need collateral. The loan size, term and other conditions for this loan are as follows: The loan size, term and other conditions for this loan are as follows:
S.No. | Loan Product | Maximum Loan Size Rs. | Loan Term | Annual Interest rate | Repayment Frequency |
01 | Individual Loan | Upto 7,00,000 | Upto 10 years | 15.00% per annum | Monthly / Quarterly |
02. | Micro Enterprise Loan | UPto 7,00,000 | Upto 10 years | 15.00% per annum | Monthly / Quarterly |
Energy Loan
This loan is used for manufacturing bio gas, Solar plant As well as Inverter purees. Organization offers this loan to those clients who have livestock and have utilized Main loan with good repayment performance. The loan can be given with collateral and without collateral.
S.No. | Loan Propose | Maximum Loan Size Rs. | Loan Term | Annual Interest Rate Declining | Repayment Frequency |
01. | Gobar Gas | Upto 35,000 | Upto 2 Years | 15% per annum | Monthly |
02. | Solar | Upto 35,000 | Upto 2 Years | 15% per annum | Monthly |
03. | Improving Cooking Stove | Upto 35,000 | Upto 2 Years | 15% per annum | Monthly |
04. | Panighatta | Upto 35,000 | Upto 2 Years | 15% per annum | Monthly |
05. | Solar Lamp/Generator / Motor | Upto 35,000 | Upto 2 Years | 15% per annum | Monthly |
06. | Energy Loan (Collateral Base) | Upto 60,000 | 2-5 Years | 15% per annum | Monthly |
Foreign Employment Loan
This loan is used for the family member of the client to go abroad for foreign employment. Organization offers this loan to those clients who have utilized General loan with good repayment performance.
Maximum Loan Size Rs. | Loan Term | Annual Interest Rate Declining | Repayment Frequency |
1,00,000 | Upto 1.5 years | 15% per annum | Monthly/Quarterly |
Education Loan
This loan is used for the children of the client to study and get degree of technical and vocational education. Organization offers this loan to those clients who have utilized Main loan with good repayment performance. This is collateral based loan.
Maximum Loan Size Rs. | Loan Term | Annual Interest Rate Declining | Repayment Frequency |
1,00,000 | Upto 3 Years | 15% per annum | Monthly |
Emergency Loan
This loan is used to cope the emergency situation happens to the client due to natural calamities. Organization offers this loan to those clients who have affected by natural disasters.
Maximum Loan Size Rs. | Loan Term | Annual Interest Rate Declining | Repayment Frequency |
40,000 | Upto 2 years | 13% per annum | Monthly/Quarterly |
Business revive Loan
This loan is used to cope the business purpose. Organization offers this loan to those clients who are willing to do their own business.
Year | Max Loan Size Rs. | Loan Term | Annual Interest Rate on declining balance | Repayment Frequency |
1 | Upto 100,000 | Maximum 4 year | 15.00% per annum | Monthly/Quaterly |
2 | Upto 300,000 | Maximum 5 year | 15.00% per annum | Monthly/Quaterly |
3 | Upto 7,00,000 | Maximum 7 years | 15.00% per annum | Monthly/Quaterly |