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MICRO FINANCE PRODUCTS

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LIFE BETTERMENT SOLUTIONS

Mobile Phone

Mobile phones can be a trusted weapon to fight poverty in India’s rural areas considering the fact that poverty also results from the lack of access to information and the ability to take advantage of many services offered by the Government and other agencies. To overcome the situation, the organisation provides easy credit facilities to our clients for buying mobile phones.

Loan Amount Rs. 6,175
Tenure 52 weeks
Rate of Interest 24 % p.a. (Diminishing)
Processing Fee 1%

Solar Lantern loan

Limited electrification with frequent power cuts across country has led to increased household expenditure on usage of alternate sources like candles/kerosene for lighting. This greatly impacts people’s health and reduces productive time available for women to work and children for studying etc. Effective solution for this is to use alternate source of energy like solar energy with LED lights which consumes lesser power. The division has tied-up with major vendors for sale of solar lanterns to rural households, while facilitating credit and easy repayment for the product loan. Financing facilities for Solar Lanterns will act as catalyst for the solution of major electrification/lighting problem of rural households.

Solar Lamp (Mitwa)
Loan Amount Rs. 2,051
Tenure 30 weeks
Rate of Interest 24 % p.a. (Diminishing)
Processing Fee 1%

Muthoot Shiksha Loan (Education Loan)

Education can combat the underlying structures of poverty. Education has a documented positive effect on marginalized populations’ income. It also increases the rate of return on the economy. Muthoot Shiksha Loan is designed to support the educational requirements of school going children of microfinance clients.

Education Loan for Boy child

Loan Amount Rs. 10,000 to 15,000
Tenure 52 weeks
Rate of Interest 24 % p.a. (Diminishing)
Processing Fee 1%

Education Loan for Girl child

Loan Amount Rs. 15,000 to 20,000
Tenure 52 weeks
Rate of Interest 23 % p.a. (Diminishing)
Processing Fee 1%