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    Samhita Microfinance

    Samhita Community Development Services

    The Samhita Development Network is aimed at improving the lives of disadvantaged communities through its full range of social services. The Samhita Community Development Services comes under the Samhita Development Network and is tasked as the economic arm of the group. It is based out of Bhopal, Madhya Pradesh and specializes in microenterprises and microfinance services as well as web-based markets for disadvantaged communities.

    Samhita Microfinance

    Samhita Microfinance operates in 18 districts of Madhya Pradesh as of December 2015, with the first branch opening in Rewa District in the state in December 2007. There are three products available from Samhita Microfinance namely Samhita Micro Credit, Samhita Micro Insurance and Samhita Pension. The loan product has the following features:

    Micro Credit

    Under this scheme, loans are provided for purposes such as working capital, asset purchase and cattle loans.

    Working capital loan: This is disbursed in fixed amounts of Rs.5,000, Rs.8,000, Rs.12,000 or Rs.15,000 for fixed tenures of 25 weeks or 6 months.

    Asset purchase loan: This is available for amounts of Rs.5,000, Rs.8,000, Rs.10,000, RS.12,000, Rs.15,000, Rs.20,000 and Rs.25,000 with fixed repayment tenures of 25 weeks, 50 weeks or 1 years. There is also the option to repay the loan amount in 6 EMIs for all loan amounts except Rs.20,000 and Rs.25,000.

    Cattle loan: This loan is provided in clusters for buying milch animals in a community and is available for fixed amounts of Rs.15,000, Rs.20,000 or Rs.25,000. The repayment tenures are 25 weeks, 50 weeks or 1 year.

    Features

    • Flexible loan tenures of 25 weeks, 50 weeks, 6 months and 1 year. 2nd cycle loans also receive the option for monthly repayments.
    • Fixed 1st cycle loan amounts of Rs.5,000, Rs.8,000 and Rs.10,000 for 25 weeks or 50 weeks tenure.
    • 2nd cycle borrowers can avail loans up in more amounts including Rs.12,000, Rs.15,000, Rs.20,000 and Rs.25,000.
    • Interest rate of 26% (reducing).
    • No collateral or processing fee.
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