Loan Products

Main Loan

The main loan is year loan with monthly repayments. Clients make monthly payments mostly during center meetings. A center is a meeting place, where group members perform their financial transactions such as repayment, withdrawals, deposit etc. Generally a group is composed of five members. The interest rate is 19% on declining basis if the clients pay the installment in center meeting. Before women can become members of SLBSL, and hence eligible for loans, they must complete the compulsory group training (minimum 7 days) and pass the group recognition test.

YearMax Loan Size Rs.Loan TermAnnual Interest Rate on declining balanceRepayment Frequency
1Upto 300,000Maximum 4 year19.00% per annumMonthly/Quaterly
2Upto 5,00,000Maximum 4 years19.00% per annumMonthly/Quaterly

Agriculture Loan

This loan is used for seasonal opportunities like purchasing and selling of agricultural products and animals in festival seasons and is accessible to clients who have successfully completed one cycle of the general loan with good repayment performance.

S.No.Product NameMaximum Loan Size Rs.Loan TermAnnual Interest Rate on Declining BalanceRepayment Frequency
1.Seasonal LoanUpto 30,0001 Year19.00% per annum       Monthly
2.Tube-Well/Irrigation LoanUpto 1,00,0002 Years19.00% per annum       Monthly

Housing Loan

SLBSL uses a very specific targeting strategy to ensure that all first-time clients are very poor. As one of the targeting criteria is the absence of cement walls or ceiling in the client’s house, there is a strong demand for various types of housing loans. To access the housing loans the clients must have maintained strong credit discipline in the previous years, have improved economic condition from previous loans. SLBSL charges a interest rate of 19 percent on a declining balance with monthly repayments.

The loan size, loan term and other conditions for housing loans are as follows:

Loan TypeMaximum Loan Size Rs.Loan TermAnnual Interest RateRepayment Frequency
House constructionUpto 4,00,0005 Years19.00% per annumMonthly
House repairUpto 80,0002 Years19.00% per annumMonthly
Homestead purchaseUPto 3,00,0003 Years19.00% per annumMonthly
Toilet/LaterineUpto 50,0002 Years19.00% per annumMonthly

Microenterprise Loan

This loan targets graduates of collateral free loans. The clients eligible for this loan must have taken Main Loan, maintained strong credit discipline, have improved economic condition from previous loans, submit collateral, and demonstrate an ability to operate a micro-enterprise. The loan size, term and other conditions for this loan are as follows: The loan size, term and other conditions for this loan are as follows:

S.No.Loan ProductMaximum Loan Size Rs.Loan TermAnnual Interest rateRepayment Frequency
01Individual LoanUpto 10,00,000Upto 2 years18.00% per annumMonthly / Quarterly
02.Micro Enterprise LoanUPto 7,00,000Upto 3 years18.00% per annumMonthly / Quarterly

Energy Loan

This loan is used for manufacturing bio gas, Solar plant As well as Inverter purees. Organization offers this loan to those clients who have livestock and have utilized Main loan with good repayment performance. The loan can be given with collateral and without collateral.

S.No.Loan ProposeMaximum Loan Size Rs.Loan TermAnnual Interest Rate DecliningRepayment Frequency
01.Gobar GasUpto 35,000Upto 2 Years18% per annumMonthly
02.SolarUpto 35,000Upto 2 Years18% per annumMonthly
03.Improving Cooking StoveUpto 35,000Upto 2 Years18% per annumMonthly
04.PanighattaUpto 35,000Upto 2 Years18% per annumMonthly
05.Solar Lamp/Generator / MotorUpto 35,000Upto 2 Years18% per annumMonthly
06.Energy Loan (Collateral Base)Upto 60,0002-5 Years18% per annumMonthly

Foreign Employment Loan

This loan is used for the family member of the client to go abroad for foreign employment. Organization offers this loan to those clients who have utilized General loan with good repayment performance.

Maximum Loan Size Rs.Loan TermAnnual Interest Rate Declining     Repayment Frequency
1,00,000Upto 1.5 years     19% per annum    Monthly/Quarterly

Education Loan

This loan is used for the children of the client to study and get degree of technical and vocational education. Organization offers this loan to those clients who have utilized General loan with good repayment performance. This is collateral based loan.

Maximum Loan Size Rs.Loan TermAnnual Interest Rate Declining      Repayment Frequency
1,00,000Upto 3 Years     17% per annum           Monthly

Emergency Loan

This loan is used to cope the emergency situation happens to the client due to natural calamities. Organization offers this loan to those clients who have affected by natural disasters.

Maximum Loan Size Rs.Loan TermAnnual Interest Rate DecliningRepayment Frequency
40,000Upto 2 years13% per annumMonthly/Quarterly