Created in 2001 having a vision so you’re able to empower female and relieve impoverishment along side duration and you can breadth away from Asia, Bandhan Economic Features Personal Minimal the most issued microfinance establishments in the country today. Including a community close Kolkata, Bandhan now also offers financing to those within the twenty-two states and you can union territories of Asia, helping the country write and you may do well. The key focus out-of Bandhan is found on wellness, degree, and you may jobless, with its factors built to assistance people in its quest for a much better lives. Bandhan Economic Functions is actually build underneath the specifications of your own Companies Work away from 1956 that’s an authorized Low-Banking Financial Team having Set aside Bank out-of India (RBI).
Bandhan Monetary Characteristics Individual Limited thinks in the offering products that services brand new alternative development of anybody, having an item diversity composed of financing, your retirement and you will insurance policies. Currently, financing provided by Bandhan might be availed simply by the girls. Here are the micro financing provided by Bandhan Economic Qualities:
1. Bandhan Microfinance Suchana Financing
It is a micro financing which is designed to help the fresh new profit out-of individuals, permitting these to take part in income generating situations.
Loan amount Individuals can avail finance between Rs.1,100 so you’re able to Rs.15,100000, based the individual demands. One could and desire increase they because of the Rs.ten,100, inside the exceptional circumstances, deciding to make the top restriction Rs.twenty-five,100000.
Mortgage tenure and you will cost So it financing have a time period of 1 year, with a solution to pay-off the borrowed funds from time to time, both using monthly, fortnightly or each week instalments.
Rate of interest The interest rate for it mortgage depends on the modern Marginal Price of money-dependent Lending Rates (MCLR) in fact it is % p.a beneficial. since to your .
dos. Bandhan Microfinance Srishti Mortgage
This really is a beneficial microfinance loan in fact it is availed by the mind-assist teams or communities to enhance its income source.
Loan amount One could get financing number anywhere between Rs.16,100000 so you can Rs.fifty,one hundred thousand, based their you would like. Bandhan can choose to increase the top limit by the Rs.ten,one hundred thousand from inside the exceptional cases, so long as the mortgage count was significantly less than Rs.thirty-five,100 into the very first years.
Financing period and payment Financing less than Bandhan Srishti have a tenure out of couple of years, having easy and versatile repayment modes. The quantity might be paid down using per week, monthly or fortnightly instalments.
Interest rate Once the into the , the speed for it micro corporation loan is % p.a. in accordance with the ongoing MCLR.
step three. Bandhan Microfinance Samriddhi Mortgage
This is a mini mortgage to have smaller than average typical enterprises, customized keeping in mind the initial criteria away from mini, brief, and you will typical businesses (MSMEs), going for adequate financial aid to expand and you can generate next a job.
Loan amount An enthusiastic MSME can get financing lower than Bandhan Samriddhi to have a price ranging from Rs.51,100 to help you Rs.5 lakh, based on their immediate criteria.
Financing tenure and you can repayment It financing have versatile tenures and fees settings, with an option to prefer a tenure out of either 12, 18 or 2 yrs. The loan amount shall be repaid as a result of easy instalments often a week, month-to-month otherwise fortnightly.
cuatro. Bandhan Microfinance Suraksha Mortgage
The condition of a nation utilizes the healthiness of the some one, and Suraksha is actually a mini fitness loans financing and that will remain anyone healthy and you will productive.
Financing tenure and you will cost Loans less than Bandhan Suraksha has actually a-1-year period, which have a substitute for pay-off the mortgage from inside the flexible instalments possibly weekly, month-to-month or fortnightly.
Rate of interest The pace getting Suraksha is gloomier compared to the speed to own most other situations, already condition within twelve% p.an excellent. because the to your .
5. Bandhan Microfinance Susikhsha Financing
Knowledge is probably the greatest demand for the brand new hours now and you may Bandhan Susikhsha was a micro student loan designed to help inform individuals from marginalised teams.
Loan tenure and you will installment – Brand new Bandhan Susikhsha financing keeps a-1-season months, that have a choice to repay the loan for the versatile instalments both per week, month-to-month otherwise fortnightly.
six. Bandhan Microfinance Fisheries Loan
Loan period and you will repayment A debtor comes with the choice to choose between a few tenures, 12 months and you may 2 yrs. The borrowed funds count is reduced thanks to typical instalments, having an option to pay either weekly, fortnightly otherwise month-to-month.
Note: the interest cost in the list above are at the mercy of changes. Individuals will be check the costs before you apply to have a beneficial microloan.
Options that come with Mini Fund from the Bandhan Economic Characteristics
- New financing given by Bandhan Economic Qualities are targeted at enabling the brand new individuals support on their own and you can generate normal money.
- These financing techniques try completely in the conformity towards recommendations said throughout the RBI round dated speaing frankly about Loans – Mini Banking institutions (MFIs) – Priority Business Condition. They’re also according to the guidelines on the latest sounding low-financial monetary companies (NBFCs) – Small Banking institutions (NBFC-MFIs).
- In the event that amount borrowed try disbursed, brand new applicant was billed a-one-date payment labeled as processing fee.
- Not as much as these mini lending techniques, brand new borrower with his otherwise the woman lover is included less than insurance rates.
- There’s no punishment billed should your debtor defaults during the the installment of the financing.
- The fresh new applicant can also be prepay the borrowed funds amount if he or she really wants to without having to pay any additional commission while the punishment.
- This new individuals not one of them to add any collateral managed in order to avail a micro financing from Bandhan Financial Characteristics.
- Consumers don’t need to bring one coverage put throughout the loan disbursement otherwise entryway payment payday loans – Mississippi so you’re able to secure financing not as much as new plans in the list above.
- You will find versatile payment choices for such finance. This new candidate can pick to settle the borrowed funds inside per week, fortnightly, or monthly premiums.