1. LOAN DETAILS

GMF Loan Products

Sl. No Name of the Product Loan size Interest rate
(Reducing balance)
LPF Insurance & Admin charges No. of installments
1 IGP / Micro-enterprises 15000 - 35000 18-24 % 1 % Actual 18 -36 months
2 Education 15000 24 % 1% Actual 24 months
3 Housing up-gradation 15000 24% 1% Actual 24 months
4 Medical 15000 24 % 1% Actual 24 months
5 Cook stove 1000 12 % 1% --- 6 months
6 Solar lantern 2000 & 5000 12% 1% -- 6 months
7 PYRO – Sustaintech loan 15000-40000 18% 1% Actual 12-24 months
8 Agri-allied & ME (MPF) 10000 - 20000 11.70 % --- Actual 12-18 months

Loan Products guidelines

GMF is complying with all the guidelines as prescribed by RBI vide letter dated 3rd May 2011 (Based on Malegam Committee recommendations) pertaining bank loans to Micro-Finance Institutions.

  1. Loans are sanctioned for supporting and enabling the members for undertaking income generation activities.
  2. Loan processing fee is charged at the time of disbursement.
  3. Penalty is not charged in case of default.
  4. Prepayment allowed but without penalty.
  5. Admission fee will not be taken.
  6. Loan is without collateral.
  7. Security deposit is not taken at the time of disbursement.
  8. Loan is repayable by monthly instalments.