Portfolio surpassed Rs.43 Crore || Twenty-seventh Branch of BJS at Saheberhat in Cooch behar district || Seventeen Financial Partners. || Nine Public Sector Banks as Financial Partners. || CoCA Grade “M4C2” || Rating Grade “MFI 3+”

Higher Education Loan (HEL)

Loan Product Name Higher Education Loan (HEL)
Brief Description : This loan product is exclusively designed for the deprived children of poor women in underserved areas who have no ability to bear the expenses for education or access loans for this purpose from other organizations/financial institutions like banks.
Target Clients :
  • Students who are studying in class eleven and above.
  • Students who are enrolled in technical, vocational and certification courses which includes pre-university college, diploma, bachelors, vocational and certification courses.
Criteria of a client :
  • The above mentioned students whose mother should be a BJS clients for at least for one year with good credit history.
  • Between 18-58 years old
  • Should have a income generating activity
  • Household income should not be more than ₹1,00,000 & ₹1,20,000 per annum in rural and urban areas respectively.
  • Total indebtedness should not exceed ₹1,00,000
    1. Main Borrower : Mother
    2. Co –Borrower : Student
    3. Guarantor : Father or any other adult family member if available.
Purpose :
  • Tuition Fees
    1. Session fees
    2. Private tuition fees
    3. Examination fees
  • Non-Tuition Fees
    1. Teaching materials and equipment viz. books, computer etc.
    2. Hostel & boarding accommodation
    3. Transportation
    4. Miscellaneous expenses
Lending Methodology : Individual (through Group)
Loan Ceiling : Maximum ₹40,000
Minimum ₹10,000
Subsequent increase amount : Maximum ₹3,000 from previous loan amount, depends on evaluation marks)
Tenure : Maximum Two Year
Minimum One year
Interest & Fees : Rate of Interest 20% p.a. on reducing balance
Processing Fees 1% on loan amount
Insurance Fees 0.80% on loan amount
GST 18% on processing fees
Mode of Repayment : Weekly/Fortnightly/monthly as per borrower choice

News Update

Our Achievements

As on 30thApril  2019
No. of Branches : 27
No. of Districts : 6
No. of Blocks : 48
Total Staff Strength : 147
No. of Frontline Staff : 92
No. of Active Groups : 2,232
No. of Active Members : 28,718
No. of Active Borrowers : 24,424
Cummulative Loan Disbursed (in Lakhs) : 34,683.53
Loan Portfolio (in Lakhs) : 4,073.37
Average Loan Size on outstanding : 16,678
On time Repayment Rate : 99.96%
Amt. of Loans Outstanding per Credit Officer : 44.28

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