11 % to 18 % (depends on the banks) reducing balance
1%
Actual
12 -36 months
2
Education
20000 to 100000
11 % to 18 % (depends on the banks) reducing balance
1%
Actual
12 -36 months
3
Housing up-gradation
20000 to 100000
11 % to 18 % (depends on the banks) reducing balance
1%
Actual
12 -36 months
4
Agri-allied & ME (MPF)
20000 to 100000
11 % to 18 % (depends on the banks) reducing balance
1%
Actual
12 -36 months
5
Consumer Durables
20000 to 50000
11 % to 18 % (depends on the banks) reducing balance
1%
Actual
6-12 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.
About Us
GMF – Gramalaya Microfin Foundation is a non-profit organization registered as a Section 25 company founded in the year 2011 with the objective of eradicating poverty through livelihood promotion activities through increased access to financial services.