SHG/JLG - Providing Livelihood

Kerala Gramin Bank provides Group loans for promoting employment.

Purpose

  • One loan to benefit several families
  • To meet the urgent requirements of SHG Members
  • To reduce the dependency on Rural money Lenders
  • For undertaking manufacturing activities

Eligibility

For JLG: 4-10 MEMBERS, For SHG: 10-20 MEMBERS

  • The group should have byelaws
  • The group should have successfully undertaken credit operations from its own sources, preferably through a bank account.
  • The group should maintain proper books of accounts / records
  • The group can be registered or unregistered
  • The group should conduct regular meetings
  • The group should have regular internal lending and recovery

Limit & Margin

FOR JLG

  • Maximum Rs.5 lakh with a per capita ceiling of Rs.50000/-

FOR SHG

  • First loan - Maximum Rs.3 lakh ( Based on savings)
  • Second Loan - Maximum Rs.5 lakhs (Based on savings)
  • Subsequent loan - Maximum Rs.10 lakh (Based on savings)
  • Margin

    • Not Applicable

Security

Upto 5 lakhs

  • Hypothecation of assets created out of bank finance, applicable in the case of investment / development projects

Above 5 lakhs

  • Hypothecation of assets created out of bank finance
  • Collateral securities equivalent to at least 125% of the loan amount, in the form of insurance policies, own deposits, other marketable securities, mortgage of property etc.

Repayment

  • JLG: 3-7 years in EMIs
  • SHG: 3-5 years in EMIs

Interest Rates & Charges

  • Please visit Loan Interest Rates page for details
  • One loan to benefit several families
  • To meet the urgent requirements of SHG Members
  • To reduce the dependency on Rural money Lenders
  • For undertaking manufacturing activities

For JLG: 4-10 MEMBERS, For SHG: 10-20 MEMBERS

  • The group should have byelaws
  • The group should have successfully undertaken credit operations from its own sources, preferably through a bank account.
  • The group should maintain proper books of accounts / records
  • The group can be registered or unregistered
  • The group should conduct regular meetings
  • The group should have regular internal lending and recovery

FOR JLG

  • Maximum Rs.5 lakh with a per capita ceiling of Rs.50000/-

FOR SHG

  • First loan - Maximum Rs.3 lakh ( Based on savings)
  • Second Loan - Maximum Rs.5 lakhs (Based on savings)
  • Subsequent loan - Maximum Rs.10 lakh (Based on savings)
  • Margin

    • Not Applicable

Upto 5 lakhs

  • Hypothecation of assets created out of bank finance, applicable in the case of investment / development projects

Above 5 lakhs

  • Hypothecation of assets created out of bank finance
  • Collateral securities equivalent to at least 125% of the loan amount, in the form of insurance policies, own deposits, other marketable securities, mortgage of property etc.
  • JLG: 3-7 years in EMIs
  • SHG: 3-5 years in EMIs

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