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MICRO FINANCE PRODUCTS

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WATER PURIFIER LOANS

Muthoot Microfin collaborated with Hindustan Unilever and Eureka Forbesin an effort to pledge purified drinking water for poor families. In the scheme, Muthoot Microfin will provide loans to IGL clients for purchasing top quality water purifying products of the brand. The initiative has a greater motivation in the backdrop, as it is estimated that water borne diseases kill 1.5 million children – under the age of 5 – every year. Anecdotal evidence indicates that almost all of these deaths occur among poor families in developing countries.
Water Purifier Loans are secured loans backed by the unit as collateral. Repayment tenure will be 52 weeks and the collection will be along with IGL loans. The institution has funded purchase of 19,590 water purifiers as on 31st March 2015.

(EFL Water Purifier)

Loan Amount Rs. 3,099
Tenure 52 weeks
Rate of Interest 24 % p.a. (Diminishing)
Processing Fee 1%

(Pureit Water Purifier)

Loan Amount Rs. 4,330
Tenure 52 weeks
Rate of Interest 24 % p.a. (Diminishing)
Processing Fee 1%