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Joint-Liability Groups (JLGs)

Joint-Liability Groups (JLGs)

The applicants who are already in the Self-Help Groups can form Joint-Liability Groups (JLG) consisting 4 to 10 members doing the same business
Loan will be extended to the Joint Liability Groups (JLGs) for starting/ improving the business on the basis of the surety stands among themselves.
The JLGs should have an account with our Bank Branches and become ā€œCā€ Class Members, before availing of loan.
The minimum loan amount for each Member is 10,000/- for the first time and maximum upto 50,000/- for the subsequent loans, subject to the conditions.
The repayment of the loan is 150 days from the date of availing of the loan.
The rate of interest is 7% per annum for agricultural purpose and for non-agricultural activities the interest will be charged @ 14% per annum.