women SHG bank loan interest rate collateral free DAY-NRLM subvention
How do women SHGs get bank loans and what is the interest rate?
PParvati Bai1 साल पहले · 344 व्यू
4 जवाब
🌾Farmer.in Krishi Teamविशेषज्ञ ✓1 साल पहले
Women SHGs get bank loans through the SHG bank linkage system, and these are collateral free up to a limit under the rural livelihood mission. After your group is formed, runs regular meetings, saves together and repays internal loans for some months, the bank grades it and gives a cash credit limit or term loan. SHGs can access collateral free loans up to a high limit, and for loans up to 3 lakh the interest is subsidised to around 7 percent per year under interest subvention, with further benefit for prompt repayment in many states. Use the loan for income activities like dairy, shop, tailoring or food processing that help members reach Lakhpati Didi income. Keep clean group records and repay on time, since that builds a higher limit next cycle. Apply through your bank with help from the community resource person, and confirm current subvention and limit terms with your SRLM as they vary by state.
LLakshmi Bai11 महीने पहले
Our group got the loan only after six months of regular saving and meetings, the bank checks your discipline first. Prompt repayment got us a bigger limit the next time. The subsidised interest made it affordable. Keep your meeting and savings register neat, the bank looks at it.
JJaya Pillai11 महीने पहले
The community resource person helped us with the bank papers, do not try it alone the first time. We used the loan for a group dairy and a small kirana shop. Repay on time even if small, that is what builds trust and a larger loan next cycle.
SShabana Parveen10 महीने पहले
Open the SHG bank account in a branch close to your village so members can deposit savings easily every week. The grading score depends on attendance and repayment, so even members who travel must keep paying their share. Ask your SRLM about the prompt repayment incentive, in our state it brought the effective interest down further.