The family loan is for spouses and/or children of borrowers who are engaged in small and medium scale businesses and other income generating activities but face liquidity problems, financial insolvency, and do not meet the requirements of obtaining loans from banks. This loan initiates the second circle of the borrower’s loan.
INR 10,000- 20,000
Number of installments
Rate of interest
1% of the loan amount plus applicable GST
Insurance / loan processing fees
INR 4.50 for per INR 1,000 per year plus applicable GST
Penalty for repayment/ late payment