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MICRO FINANCE PRODUCTS

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Livelihood Solutions

INCOME GENERATING LOANS

Lack of capital has been identified as the single most important obstacle in helping poor come out of poverty. Through the IGL packages, Muthoot Microfin aims to provide that financial support to poor women who has the potential to uplift themselves in the society but investments have been the hindering factor all while.
Muthoot Microfin provides loans to micro enterprises ñ for initial investment and also for expanding micro businesses ñ in several cycles. These different cycle loans loans generally range between Rupees 10,000 and 45,000. And for the ease of repayment, the institution has a weekly collection system set to 52 or 104 weeks.
Income generating loans are primarily unsecured loans backed with group guarantee in a joint liability group. Through Income Generating Loans, Muthoot Microfin supports all sorts of business opportunities alike and also provides ample support through training programs and financial literacy lessons to the micro entrepreneurs.

Loan Amount Rs. 10,000 – Rs. 45,000
Tenure 52/104 weeks
Rate of Interest 23.5% p.a. (Diminishing)
Processing Fee 1%

IGL DAIRY

IGL- Dairy loan is intended for the Dairy development activities of the clients including purchase of new cattle to increase their income level. IGL ñDairy is joint liability group loan, for a group of economically active women engaged in Dairy as main/subsidiary activity. Loan amount ranges from ?30,000 to ?50,000 per farmer depending on the repaying capacity. IGL- Dairy loan has convenient repayment of 2 years as per regulatory guidelines.
The product is estimated to make a wider and deeper impact in dairy sectoras 70% of milk production is through small and marginal farmers and dairying is predominately women led activity in rural India.

Loan Amount Rs. 30,000 – Rs.  50,000
Tenure 104 weeks
Rate of Interest 23.5% p.a. (Diminishing)
Processing Fee 1%

SEWING MACHINE

Home based tailoring work will give poor women from rural areas an opportunity to earn income and come out of poverty. However, most women in remote rural settings are economically disadvantaged to buy a sewing machine. Muthoot Microfin has tied-up with major vendors for financing sewing machines – facilitating credit and easy repayment for the product loan. Financing facilities for sewing machines will act as a substance for empowering poor women and improve their socio-economic status.

Loan Amount Rs.9,227
Tenure 52 weeks
Rate of Interest 24 % p.a. (Diminishing)
Processing Fee  1%