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    Bandhan Financial Services

    Established in 2001 with a vision to empower women across the length and breadth of India, Bandhan is one of the most awarded microfinance institutions in the country today. Starting from a village near Kolkata, Bandhan today offers financial support to people in 22 states, helping the country develop and prosper. The primary focus of Bandhan is on health, education, and unemployment, with its products designed to aid people in their pursuit of a better life. Bandhan Financial Services was set up under the provisions of the Companies Act of 1956 and is a registered Non-Banking Financial Company.

    Products offered by Bandhan Financial Services Private Limited

    Bandhan Financial Services Private Limited believes in offering products which aid the holistic development of individuals, with a product range consisting of loans, pension and insurance. Presently, loans offered by Bandhan can be availed only by women. Listed below are the microloans offered by Bandhan.

    Bandhan Microfinance Suchana Loan

    This is a micro loan which is designed to aid the finances of borrowers, enabling them to take part in income generating activities.

    Loan amount – Individuals can avail loans ranging from Rs 1,000 to Rs 15,000, depending on their personal requirement. One can also choose to increase it by Rs 10,000, in exceptional cases, making the upper limit Rs 25,000.

    Loan tenure and repayment – This loan has a period of 1 year, with an option to repay the loan periodically, either through monthly, fortnightly or weekly instalments.

    Interest rate – The interest rate for this loan is 22.4% per annum.

    Bandhan Microfinance Srishti Loan

    This is a microfinance loan which can be availed by self-help groups or communities to enhance their source of income.

    Loan amount – One can avail loan amounts ranging from Rs 16,000 to Rs 50,000, depending on their need. Bandhan can choose to increase the upper limit by Rs 10,000 in exceptional cases, provided that the loan amount is under Rs 35,000 during the first cycle.

    Loan tenure and repayment – Srishti has a tenure of 2 years, with easy and flexible repayment modes. The amount can be repaid through weekly, monthly or fortnightly instalments.

    Interest rate – The interest rate for Srishti micro enterprise loan is 22.40% per annum

    Bandhan Microfinance Samriddhi Loan

    This is a micro loan for small and medium enterprises, designed keeping in mind the unique requirements of MSME’s, providing them sufficient financial aid to grow and generate further employment.

    Loan amount – A MSME can avail loans ranging from Rs 51,000 to Rs 5 lakh, depending on their immediate requirement.

    Loan tenure and repayment – This loan has flexible tenures and repayment modes, with an option to choose a tenure of either 12, 18 or 24 months. The loan amount can be repaid through simple instalments either weekly, monthly or fortnightly.

    Interest rate – The interest rate for this loan is 22.4% per annum.

    Bandhan Microfinance Suraksha Loan

    The health of a nation depends on the health of its people, and Suraksha is a micro health finance loan which aims to keep people healthy and active.

    Loan amount – Individuals can avail loans ranging from Rs 1,000 to Rs 10,000 under this scheme.

    Loan tenure and repayment – A Suraksha loan has a 1 year period, with an option to repay the loan in flexible instalments either weekly, monthly or fortnightly.

    Interest rate – The interest rate for Suraksha is lower than the rate for other products, currently standing at 12% per annum.

    Bandhan Microfinance Susikhsha Loan

    Education is perhaps the biggest need of the hour today and Susikhsha is a micro education loan designed to help educate people from marginalised communities.

    Loan amount – One can avail loans ranging from Rs 1,000 to Rs 10,000 to pursue their educational dreams.

    Loan tenure and repayment - A Susikhsha loan has a 1 year period, with an option to repay the loan in flexible instalments either weekly, monthly or fortnightly.

    Interest rate – A Susikhsha education loan comes at an interest of 12% per annum.

    Bandhan Microfinance Fisheries Loan

    This fisheries loan can be used to improve the condition of people involved in the fisheries industry.

    Loan amount – One can avail loans ranging from Rs 10,000 to Rs 1 lakh under this scheme.

    Loan tenure and repayment – A borrower has the option to choose between two tenures, 1 year and 2 years. The loan amount can be repaid through regular instalments, with an option to pay either weekly, fortnightly or monthly.

    Interest rate – The interest rate for this loan is 22.4% per annum.

    Note: the interest rates mentioned above are for December 2015 and these are subject to change. Individuals should check the rates before applying for a microloan.

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