MFI Loan | Prayatna Micro Finance

PRINCIPAL PRODUCT

Sr. No.	Product Name	Customer profile	Loan Ticket Size	Loan Tenure	Number of installments ( weekly repayment frequency)	Credit Linked Life Insurance Charges
1	Agriculture Loan (1 Year)	Economically active women residing in low income areas, generally involved in agriculture and allied activites.	(10,000 – 30,000)	52 weeks	50	5.97 Rs /per life/1000 Rs of loan amount
2	Agriculture Loan (2 Year)	Economically active women residing in low income areas, generally involved in agriculture and allied activites.	(35,000 – 75,000)	104 weeks	102	11.94 Rs /per life/1000 Rs of loan amount
3	Animal Husbandry (1 Year)	Economically active women residing in low income areas, generally involved in livestock farming and animal husbandary.	(10,000 – 30,000)	52 weeks	50	5.97 Rs /per life/1000 Rs of loan amount
4	Animal Husbandry (2 Year)	Economically active women residing in low income areas, generally involved in livestock farming and animal husbandary.	(35,000 – 75,000)	104 weeks	102	11.94 Rs /per life/1000 Rs of loan amount
5	Rural Artisans and Cottage Industry (1 Year)	Economically active women residing in low income areas, generally involved in manufacturing & allied activities within small cottage industries.	(10,000 – 30,000)	52 weeks	50	5.97 Rs /per life/1000 Rs of loan amount
6	Rural Artisans and Cottage Industry (2 Year)	Economically active women residing in low income areas, generally involved in manufacturing & allied activities within small cottage industries.	(35,000 – 75,000)	104 weeks	102	11.94 Rs /per life/1000 Rs of loan amount
7	Small Buisness Loan (1 Year)	Economically active women residing in low income areas, generally involved in trade and services.	(10,000 – 30,000)	52 weeks	50	5.97 Rs /per life/1000 Rs of loan amount
8	Small Buisness Loan (2 Year)	Economically active women residing in low income areas, generally involved in trade and services.	(35,000 – 75,000)	104 weeks	102	11.94 Rs /per life/1000 Rs of loan amount

* Ticket size of INR 60,000 and above( till 75000) would be offered to members from 3rd loan cycle onwards

SCHEDULE OF CHARGES

Sr No	Particulars	Details
1	Interest Rate	25.75%
2	Processing Fees	1%
3	GST on Processing Fees	18%
4	Underwriting Charges	0.75%
5	GST on Underwriting Charges	18%

CONDUCT OF STAFF

Do’s:

Shall treat all its clients with respect and dignity.
Shall ensures that the services are provided to the eligible clients as per RBI guidelines.
Shall complete documents requirements as per the standard KYC norms.
Shall not indulge in any kind of misbehavior while interacting with the clients.
Shall comply with the pricing policy.
Shall provide flexibility to the clients to close their loans.
Shall adhere to ‘Employees Code of Conduct’
Shall talk politely and address the clients respectfully.
Shall provide valid receipt for every payment received from the borrower and record the payment.

Don’ts:

Under no circumstance staff shall talk harshly, loudly or use any threat, abusive or disrespectful language.
Staff shall not show any aggression and shall not indulge in confrontation, altercation with client or family members.
On sensitive occasions such as death, accident, illness or any other tragedy, staff shall inform the BM and shall not insist on repayment either from the client or from the group members.
Staffs shall not use any physical force or enter dwellings of people.
Shall not charge penalties to the clients for prepayment.
Staff shall not engage in following harsh methods towards recovery:
- Use of threatening or abusive language.
- Persistently calling the borrower and/or calling the borrower before 09:00 a.m. and after 06:00 p.m.
- Harassing relatives, friends, or co-workers of the borrower.
- Publishing the name of borrower.
- Use of threat of use of violence or other similar means to harm the borrower or borrower’s family /assets/reputation.
- Misleading the borrower about the extent of the debt or the consequences of non-repayment.