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SHG/JLG - Providing Livelihood

Kerala Grameena 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
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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
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Limit & Margin

FOR JLG

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

FOR SHG

  • First loan - Maximum Rs.10 lakh ( Based on savings)
  • Second Loan - Maximum Rs.10 lakhs (Based on savings)
  • Subsequent loan - Maximum Rs.15 lakh (Based on savings)

Margin

  • Not Applicable
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Security

Upto 10 lakhs

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

Above 10 lakhs

  • Hypothecation of assets created out of bank finance
  • Collateral securities equivalent to at least 12.5% of the loan amount, in the form of insurance policies, own deposits, other marketable securities, mortgage of property etc.
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Repayment

  • JLG: 3-7 years in EMIs
  • SHG: 3-5 years in EMIs
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Interest Rates & Charges