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    ESAF Microfinance

    Overview about ESAF Microfinance and Investments Pvt Ltd

    ESAF Microfinance is one of the premier microfinance institutions in India and was launched in 1992 with the purpose of alleviating borrowers from difficulties arising out of poverty and unemployment. It is a non-governmental organisation that reaches out to over 7 lakh poor households across states like Kerala, Tamil Nadu, Maharashtra, Madhya Pradesh, Chhattisgarh and Jharkhand. The purpose of ESAF Microfinance and Investments Pvt Ltd is to empower the income capacity of poor women through income generation activities.

    ESAF Microfinance and Investments Pvt Ltd offer the following microfinance loan products to help establish, improve and expand the livelihood activities of their clients:

    1. Income Generation Loan
    2. General Loan
    3. Nirmal Loan
    4. Jeevandhara Loan
    5. Agriculture Loan
    6. Vidhyajyothi Loan
    7. Suryajyothi Loan
    8. Grihajyothi Loan
    9. Mobile Loan
    10. Micro Enterprise Loan - Dairy(MELD)
    11. Ultra-Poor Loan
    12. Income Generation Loan(Dairy)
    13. Income Generation Loan(Special)
    14. Home Improvement Loan

    ESAF Microfinance Income Generation Loan

    • Issued to borrowers to create assets or provide working capital for any legal and lawful income generation activity
    • The loan amount is split into 5 cycles
      • 1st cycle - Rs 20,000
      • 2nd cycle - Rs 30,000
      • 3rd cycle - Rs 40,000
      • 4th cycle - Rs 50,000
      • 5th cycle and above - Rs 60,000
    • The rate of interest is 24.92% on a diminishing basis
    • Processing fees of 1% of the loan amount plus service tax is charged
    • The loan tenure ranges from 1 year for loan amounts up to Rs 15,000 and 2 years for loan amounts above Rs 15,000
    • The loan can be repaid at a weekly, fortnightly or monthly frequency
    • The grace period allowed ranges from one week to one month, depending on the repayment frequency.

    ESAF Microfinance General Loan

    • Issued to borrowers for the purpose of consumption
    • The loan amount is split into 5 cycles

      1. 1st cycle - Rs 15,000
      2. 2nd cycle and above - Rs 20,000
    • The rate of interest is 24.92% on a diminishing basis
    • Processing fees of 1% of the loan amount plus service tax is charged
    • The loan tenure ranges from 1 year for loan amounts up to Rs 15,000 and 2 years for loan amounts above Rs 15,000
    • The loan can be repaid at a weekly, fortnightly or monthly frequency
    • The grace period allowed ranges from one week to one month, depending on the repayment frequency.

    ESAF Microfinance Nirmal Loan

    • Issued to borrowers for the purpose of construction of latrine cum toilets
    • The loan amount issued ranges from Rs 4,000 to Rs 12,0000
    • The rate of interest is 24.92% on a diminishing basis
    • Processing fees of 1% of the loan amount plus service tax is charged
    • The loan tenure ranges from 1 year for loan amounts up to Rs 6,000 and 18 months for loan amounts ranging from Rs 7,000 to Rs 12,000
    • The loan can be repaid at a weekly, fortnightly or monthly frequency
    • The grace period allowed ranges from one week to one month, depending on the repayment frequency.

    ESAF Microfinance Jeevandhara Loan

    • Issued to borrowers for the purpose of acquiring a water connection
    • The loan amount issued ranges from Rs 2,000 to Rs 12,0000
    • The rate of interest is 24.92% on a diminishing basis
    • Processing fees of 1% of the loan amount plus service tax is charged
    • The loan tenure ranges from 1 year for loan amounts up to Rs 6,000 and 18 months for loan amounts ranging from Rs 7,000 to Rs 12,000
    • The loan can be repaid at a weekly, fortnightly or monthly frequency
    • The grace period allowed ranges from one week to one month, depending on the repayment frequency.

    ESAF Microfinance Agriculture Loan

    1. Issued to farmers for the purpose of crop cultivation
    2. The loan amount is split into 4 cycles
      1. 1st cycle - Rs 8,000
      2. 2nd cycle - Rs 10,000
      3. 3rd cycle - Rs 12,000
      4. 4th cycle and above - Rs 15,000
    3. The rate of interest is 24.92% on a diminishing basis
    4. Processing fees of 1% of the loan amount plus service tax is charged
    5. The loan tenure is for 9 months
    6. The loan can be repaid via bullet repayment at the end of the loan period

    ESAF Microfinance Vidhyajyothi Loan

    • Issued to borrowers for the purpose of sangam member’s children for meeting tuition and non-tuition fees
    • The loan amount is split as follows:
      • Up to 10th Std - Rs 8,000
      • For Plus 1 & 2 - Rs 15,000
      • Above Plus 2 / College - Rs 16,000 to Rs 50,000
    • The rate of interest is 24.92% on a diminishing basis
    • Processing fees of 1% of the loan amount plus service tax is charged
    • The loan tenure ranges from 1 year for loan amounts up to Rs 15,000 and 2 years for loan amounts above Rs 15,000
    • The loan can be repaid at a weekly, fortnightly or monthly frequency
    • The grace period allowed ranges from one week to one month, depending on the repayment frequency.

    ESAF Microfinance Suryajyothi Loan

    • Issued to borrowers for the purpose of promoting products like solar lamps
    • The loan amount issued ranges from Rs 1,000 to Rs 10,000
    • The rate of interest is 24.92% on a diminishing basis
    • Processing fees of 1% of the loan amount plus service tax is charged
    • The loan tenure ranges from 26 weeks / 6 months for loan amounts up to Rs 3,000 and 52 weeks / 12 months for loan amounts above Rs 3,000
    • The loan can be repaid at a weekly, fortnightly or monthly frequency
    • The grace period allowed ranges from one week to one month, depending on the repayment frequency.

    ESAF Microfinance Grihajyothi Loan

    1. Issued to borrowers for the purpose of promoting energy efficient cooking stoves
    2. The loan amount issued ranges from Rs 1,000 to Rs 10,000
    3. The rate of interest is 24.92% on a diminishing basis
    4. Processing fees of 1% of the loan amount plus service tax is charged
    5. The loan tenure ranges from 26 weeks / 6 months for loan amounts up to Rs 3,000 and 52 weeks / 12 months for loan amounts above Rs 3,000
    6. The loan can be repaid at a weekly, fortnightly or monthly frequency
    7. The grace period allowed ranges from one week to one month, depending on the repayment frequency.

    ESAF Microfinance Mobile Loan

    • Issued to borrowers for the purpose of enabling ESAF clients to purchase mobile phones
    • The loan amount issued ranges from Rs 2,000 to Rs 15,000
    • The rate of interest is 24.92% on a diminishing basis
    • Processing fees of 1% of the loan amount plus service tax is charged
    • The loan tenure is for a period of 43 weeks or 10 months
    • The loan can be repaid at a weekly, fortnightly or monthly frequency
    • The grace period allowed ranges from one week to one month, depending on the repayment frequency.

    ESAF Microfinance Micro Enterprise Loan - Dairy (MELD)

    • Issued to borrowers for the purpose of meeting the working capital needs of milk vendors and farmers
    • Fixed loan amounts of Rs 25,000, Rs 50,000, Rs 75,000 and Rs 100,000 can be issued
    • The rate of interest is 26% on a diminishing basis
    • Processing fees of 1% of the loan amount plus service tax is charged
    • The loan tenure ranges from 35 weeks for loan amounts ranging from Rs 25,000 to Rs 50,000 and 50 weeks for loan amounts ranging from Rs 75,000 to Rs 100,000
    • The loan can be repaid at a weekly frequency
    • The grace period allowed is one week

    ESAF Microfinance Ultra Poor Loan

    1. Issued to borrowers for the purpose of livelihood development
    2. The loan amount is split into 3 cycles
      1. 1st cycle - Rs 2,000
      2. 2nd cycle - Rs 4,000
      3. 3rd cycle - Rs 7,000
    3. The rate of interest is 24.92% on a diminishing basis
    4. Processing fees of 1% of the loan amount plus service tax is charged
    5. The loan tenure ranges from 3 months for loan amount of Rs 2,000, 6 months for loan amount of Rs 4,000 and 9 months for loan amount of Rs 7,000
    6. The loan can be repaid at a weekly, fortnightly or monthly frequency
    7. The grace period allowed ranges from one week to one month, depending on the repayment frequency.

    Income Generation Loan (Dairy)

    • Issued to borrowers for the purpose of promoting farmers involved in dairy business
    • The loan amount issued ranges from Rs 20,000 to Rs 50,000
    • The rate of interest is 24.92% on a diminishing basis
    • Processing fees of 1% of the loan amount plus service tax is charged
    • The loan tenure is for a period of 2 years
    • The loan can be repaid at a weekly, fortnightly or monthly frequency
    • The grace period allowed ranges from one week to one month, depending on the repayment frequency.

    Income Generation Loan (Special)

    • Issued to borrowers for the purpose of providing working capital for any lawful income generation activity
    • The loan amount issued ranges from Rs 10,000 to Rs 60,000
    • The rate of interest is 24.92% on a diminishing basis
    • Processing fees of 1% of the loan amount plus service tax is charged
    • The loan tenure ranges from 1 year for loan amounts up to Rs 15,000 and 2 years for loan amounts above Rs 15,000
    • The loan can be repaid at a weekly, fortnightly or monthly frequency
    • The grace period allowed ranges from one week to one month, depending on the repayment frequency.

    Home Improvement Loan

    1. Issued to borrowers for the purpose of repairing and renovating their existing house
    2. The loan amount issued ranges from Rs 15,000 to Rs 50,000
    3. The rate of interest is 22% on a diminishing basis
    4. Processing fees of 2% of the loan amount plus service tax is charged
    5. The loan tenure ranges from 24 months for loan amounts up to Rs 30,000 and 30 months for loan amounts above Rs 30,000
    6. The loan can be repaid at a monthly frequency
    7. The grace period allowed is one month

    Eligibility criteria for ESAF Microfinance

    To apply for these loans through ESAF Microfinance and Investments Pvt Ltd, the following eligibility criteria has to be met:

    1. Both men and women can apply
    2. Must have low household income
    3. Household income must be below Rs 60,000 if the applicant lives in rural areas
    4. Household income must be below Rs 1,20,000 if the applicant lives in urban areas
    5. Applicants must be economically active

    Documents Required for ESAF Microfinance

    To avail of loans from ESAF Microfinance and Investments Pvt Ltd, the following documentation is required:

    • ID and Address Proof : Voter ID / Bank passbook copy / ration card / gas bill etc
    • Completed membership application form
    • Completed loan application and sanction form
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