GMF Loan Products
|Sl. No||Name of the Product||Loan size|| Interest
|LPF||Insurance & Admin charges||No. of installments|
|1||IGP / Micro-enterprises||15000 - 35000||18-24 %||1 %||Actual||18 -36 months|
|2||Education||15000||24 %||1%||Actual||24 months|
|3||Housing up-gradation||15000||24%||1%||Actual||24 months|
|4||Medical||15000||24 %||1%||Actual||24 months|
|5||Cook stove||1000||12 %||1%||---||6 months|
|6||Solar lantern||2000 & 5000||12%||1%||--||6 months|
|7||PYRO – Sustaintech loan||15000-40000||18%||1%||Actual||12-24 months|
|8||Agri-allied & ME (MPF)||10000 - 20000||11.70 %||---||Actual||12-18 months|
Loan Products guidelines
GMF is complying with all the guidelines as prescribed by RBI vide letter dated 3rd May 2011 (Based on Malegam Committee recommendations) pertaining bank loans to Micro-Finance Institutions.
- Loans are sanctioned for supporting and enabling the members for undertaking income generation activities.
- Loan processing fee is charged at the time of disbursement.
- Penalty is not charged in case of default.
- Prepayment allowed but without penalty.
- Admission fee will not be taken.
- Loan is without collateral.
- Security deposit is not taken at the time of disbursement.
- Loan is repayable by monthly instalments.