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    Overview about Grameen Koota Financial Services

    Established in the year 1999, the Grameen Koota Financial Services Private Limited (GKFSPL) microfinance organization has been helping people in economically weaker sections of society lift themselves over the poverty line and establish a sustainably higher standard of living.

    The organization disburses microfinance loans through its 208 branch offices, with a dedicated staff of over 3,000 employees. So far (as of November, 2015) GKFSPL has disbursed over Rs.1,669.3 crores to over 1,102,780 borrowers in 5 Indian states. The institution has structured itself and its repayment clauses in such an efficient and borrower-friendly way that it reports a 99.5% repayment rate.

    Loans offered by Grameen Koota Financial Services Pvt Ltd

    1. Income Generation Loans

      In order for economically weaker sections of society to be able to maintain a sustainable source of income, small fixed assets, land, small machinery, etc. are sometimes required. The income generation loan backs small enterprises and projects that people wish to launch, by helping them purchase assets and also providing them with working capital till they are able to turn a profit.

      • Loan amount:
        • Minimum – Rs.5,000.
        • Maximum – Rs.35,000.
      • Interest rate:
        • 24% per annum, on a declining balance basis.
      • Tenure:
        • Minimum – 52 weeks.
        • Maximum – 104 weeks.
    2. Home Improvement Loans

      Most people below the poverty line / in an economically weaker situation don’t have the basic components that make up a home, like running water, covered toilets with plumbing facilities, roofs, etc. Many low income households are also forced to face the forces of nature in homes built with cheaper and less durable materials, which disintegrate over time. Most of these houses need repairs / rebuilds. The Home Improvement Loan enables people to repair, reconstruct, and add extensions to their homes.

      • Loan amount:
        • Minimum – Rs.5,000.
        • Maximum – Rs.25,000.
      • Interest rate:
        • 20% per annum, on a declining balance basis.
      • Tenure:
        • Minimum – 52 weeks.
        • Maximum – 208 weeks.
        • Tenure depends on loan amount availed.
    3. Emergency Loans

      Crisis situations can occur anywhere and at any time. This is also true for families surviving in low income situations in rural areas. Should an emergency situation present itself – like a medical emergency, or an injury, etc. whose treatment needs to be funded immediately, the Emergency Loan from GKFSPL is a tool for timely financial assistance.

      • Loan amount: Rs.1,000.
      • Interest rate:
        • 24% per annum, on a declining balance basis.
      • Tenure: Maximum tenure of 3 months is allowed.
    4. Family Welfare Loans

      Families living under the poverty line / in economically weaker situations do not have the basic necessities for the functioning of a household – like cooking stoves, beds, LPG connections, transportation (bicycles), solar lights, water purifiers, funds for education, etc. The Family Welfare Loan facility covers all the above requirements and also those expenses that arise seasonally – like during festivals, etc.

      • Loan amount:
        • Minimum: Rs.1,000.
        • Maximum: Rs.10,000.
        • The loan amount depends on the purpose for which the funds are being used.
      • Interest rate:
        • 20% per annum, on a declining balance basis.
      • Tenure:
        • Minimum: 24 weeks.
        • Maximum: 52 weeks.
    5. Home Construction Loans

      The construction of homes in rural areas is the first step in empowering economically weaker sections of society to establish sustainable sources of income, thereby raising their standard of living. The GKFSPL has tied up with Swarna Pragathi Housing Microfinance Private Limited (SPHMPL) to disburse loans for the construction and extension of homes in rural areas. The loan amount is provided by SPHMPL, and origination is taken care of by GKFSPL.

      • Loan amount:
        • Minimum: Rs.25,000.
        • Maximum: Rs.2,00,000.
      • Interest rate:
        • 22% per annum, on a declining balance basis.
      • Tenure:
        • Minimum: 104 weeks.
        • Maximum: 260 weeks.
        • Tenure depends on the final loan amount disbursed.

    *All amounts, tenures, repayment requirements, time frames, interest rates, charges, fees, ceilings, requirements, criteria, exclusions, calculations terms and conditions mentioned above are as of January, 2016. All financial institutions mentioned above reserve all rights to modify, replace, or add to or subtract from any of the above, in any way, at any time, and at their own discretion.

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