Joint Liability Group Loan

• No collateral and margin is required for loans up to Rs 10.00 Lakhs
• Nil Pre-payment Charges

• 4-10 individuals coming together for the purpose of availing bank loan on individual basis or through group mechanism against mutual guarantee.
• The members should be residing in the same village/ area/ neighbourhood and should know and trust each other well enough to take up joint liability for group/individual Loans.
• The JLG should hold regular meetings under effective leader of group to discuss issues of mutual interests.

• Members should belong to similar socio-economic status, background and environment carrying out farming and Allied activities and who agree to function as a joint liability group. The groups should be homogeneous and organized by likeminded farmers/Individuals and develop mutual trust and respect.
• The members should be residing in the same village/ area/ neighbourhood and should know and trust each other well enough to take up joint liability for group/individual Loans.
• Members who have defaulted to any other formal financial Institution, in the past, are debarred from the Group Membership.
• More than one person from the same family should not be included in the same JLG.

• KYC Documents (AADHAR, Voter ID, PAN Card, Driving License etc.)
• Passport Size photo
• Letter of Sponsorship from the Sponsoring agency.
• JLG Membership Form
• Loan Application Form
• Mutual Liability Agreement

No loan Processing fee/ Documentation Charges/inspection charges will be levied if the per member exposure is up to Rs. 25,000/-.

Note : The Bank may use the services of agents in sales/marketing etc. of its various products