Our Products
Prerona
Brief Description
This loan product is exclusively designed for the poor women in undeserved areas who engaged in self-employment and small income generating activities but do not have enough own capital to run the activities.
Interest & Fees
Rate of Interest: 26.00%
Processing Fees: 1% on loan amount
Insurance Fees: 1.008% on loan amount (Borrower + CO Borrower)
GST: 18% on processing fees
Mode of Repayment
Weekly/Fortnightly/monthly as per borrower choice
Product Information
Loan Product Name
Lending Methodology
Entrepreneurship
Prerona
Individual (through Group)
Target Clients
Criteria of a client
Purpose
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Women who are engaged in income generating activities.
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In rural areas, the women who are engaged as small farmer, allied agriculture activities, food processing, petty trading etc.
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In urban areas, the women who are engaged in more diverse activities like shopkeepers, service providers, street vendors, artisans etc.
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The above mentioned women who engaged in small income activities.
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Between 18-58 years old
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Should have a income generating activity
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Household income should not be more than ₹1,25,000 & ₹2,00,000 per annum in rural and urban areas respectively.
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Not have outstanding account with more than one MFI.
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Total indebtedness should not exceed ₹1,25,000
Farm
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Agriculture – Paddy, Wheat, Jute, Vegetable cultivation
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Agriculture Allied – Dairy, Poultry, Fishery, Duckery, Piggery, goatery etc.
Non-Farm
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Small business – Grocery, Stationery, Ready made Garments, Tea stall, Food stall, Electronic & Electrical, Mobile shop etc.
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Small Transport – Van, Rickshaw etc.
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Service – Laundry, Saloon, Cobbler, bookbinding repairing shop etc.
Tenure
Loan Ceiling
Subsequent increase amount
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Maximum: ₹40,000
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Minimum: ₹5,000
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Maximum : One year
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Minimum: One Year
Maximum ₹20,000 from previous loan amount depends on evaluation marks)
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