Microfinance Loans
- Small collateral free loans to women provided under Joint Liability Group (JLG) model.
Micro-Finance Loans
These are small collateral free loans provided to members of SHG, JLG and other individual wherein the credit facility is provided for income generation purposes.Â
Benefits
Customized product
Service at the doorstep at centre meetings.
Maximum loan upto Rs.125000
Tenure Maximum 36 months. For ECLGS loans upto 4 years.
Repayment frequencies as desired (weekly, fortnightly & Monthly)
Interest Rates – Q2 – 2024-25
| Product | Minimum | Weighted average interest rate* | Maximum |
|---|---|---|---|
| Microfinance Loans | 21.25% | 23.53% | 25.13% |
* Weighted average interest rate is calculated based on the disbursements done in Q2- FY 2025
Note: Interest rates offered may differ from product variant/scheme selected by the customers and may differ from BC to BC.
Annualized Percentage Rate (APR) – Q2 – 2024-25
| Product | Minimum | Maximum |
|---|---|---|
| Microfinance Loans | 21.95% | 28.77% |
Current Interest Rates 
| Product | Minimum | Maximum |
|---|---|---|
| MFI | 21.25% | 25.13% |
*Interest rate may differ from BC to BC and basis customer category
Fees & Charges
Processing Fee -Â 1% of loan amount plus applicable taxes. Processing fee is applicable only for loans above Rs.25000 if classified as Priority sector lending.
Credit Shield Insurance to be charged at actuals and to be paid by the customer if opted. Borrower has choice to opt for.
- Availing Insurance offered by Bank through its tie-up or
- To assign his/her existing insurance policy to the satisfaction of IndusInd Bank.
Note : Charges may differ from product variant/scheme selected by the customers and may differ from BC to BC.
Eligibility
- Individual (18-65 years).
- Have Officially Valid Documents as KYC (Aadhaar / Driving License / voter ID /Passport / Job card issued by NREGA).
- PAN or Form 60 Mandatory
- Applicant must provide Personal Details, Household details, Business / Activity Details, Income Details etc. as applicable for the bank to decision the case.
- Residing within the operational area of Bank though BC.
- For MSE loans upto Rs.25 lakhs the Maximum Turn Around Time (TAT) from Loan application to Loan Decisioning is 14 working days from the date of receiving the complete set of application and required documents.
*Customer final loan eligibility will be determined by the bank’s loan eligibility criteria set for the specific product.
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