The primary loan is for women who are engaged in small businesses and other income generating activities but face liquidity problems, financial insolvency, and do not meet the requirements of obtaining loans from banks.
Loan amount | INR 1,000- 30,000 | ||
Tenure/duration | 12 or 24 months, depending upon the repayment ability and the borrower's choice as per RBI directives | ||
Instalments frequency | Weekly | Fortnightly | Monthly |
For tenure/duration of 12 months | 46 Instalments | 22 Instalments | 11 Instalments |
For tenure/duration of 24 months | 106 Instalments | 53 Instalments | 26 Instalments |
Rate of interest | 24.5% until 25 October 2022; 27% (reducing) from 25 October 2022 onwards. The interest range is 23% to 27%. | ||
Processing fee | 2% of the loan amount plus applicable GST | ||
Admin fee | 0.6% of the loan amount plus applicable GST | ||
Insurance / loan processing fees | INR 4.50 for per INR 1,000 per year plus applicable GST | ||
Admission fee | Rs 25 inclusive of GST | ||
Security deposit | NIL | ||
Penalty for late payment | 2% on the overdue amount plus applicable GST | ||