IDFC FIRST Bharat Limited is engaged as a Business Correspondent of IDFC FIRST Bank Ltd. and offers a variety of loan products and services.
Income Generating Loans are offered to the rural women in a Joint Liability Group, for a variety of activities that generate income for their families. These joint liability groups are identified by field officers who cover villages within a radius of 25-30 Kms around the branch offices. Woven into our credit program process for Livelihood Advancement Loans for Women is a customer training initiative that makes our customers aware of the various aspects of Borrowing, Savings, Expense Management, and Insurance. This loan helps women customer and their families to invest in their income generation activities to boost income to meet their routine.
Loan amounts range from Rs.17,000 to Rs.50,000 and are offered with a tenure ranging from 1 year to 2 years. Instalment for these loans are to be paid on a weekly basis through peer group culture. With this credit discipline, women customers are equipped with finance knowledge and adequate support to enhance their livelihood options which they engaged with.
|Loan Pack||Pack Amount||Life Insurance
(Applicant + witness/Guarantor)
|GSG||LPF||Total Deduction||Net Amount|
Note: The above loan pack may changes from time to time as per the product norms and End use check is compulsory for all loans which disbursed to customer as part of policy compliance.
Easy documentation, quick processing
Women borrower can apply for the loan with any basic identity document like your Aadhaar Card. Once the documentation is done, they will have to undergo a simple but very useful group training that will educate them on all aspects and mechanics of the loan and its terms. After successful completion of the training, the loan amount will be disbursed to individuals in the group.
Wide reach, doorstep service
Our Officers cover villages within a radius of 25-30 km around the branch. Thus they will be able to service every village in the vicinity and reach out to the most spread out locations.