General Loan
The general loan is a loan with monthly/quarterly 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 14.38% on declining basis if the clients pay the installment in center meeting. Before a woman can become member of NULBSL, and hence eligible for loans, she must complete the compulsory group training (minimum 7 days) and pass the group recognition test.
| SN | Maximum Loan Size Rs. | Loan Term | Service Charge | Annual Interest Rate on declining balance | Repayment Frequency |
|---|---|---|---|---|---|
| 1 | Upto 1,00,000 (Group Gurantee Base) | Maximum 2 year | 1.3% | 14.38% per annum | Monthly/Quaterly |
| 2 | Upto 7,00,000 (Group Gurantee Base) | Maximum 7 years | 1.3% | 14.38% per annum | Monthly/Quaterly |
| 3 | Upto 25,000 (Family Gurantee Base) | Maximum 1 Year | 1.3% | 14.38% | Monthly/Quaterly |
