Presently Village Financial Services has two (2) broad microloan products against which loans are disbursed.

The general eligibility criteria for availing the loans as listed below:

Loans

General Criteria:

  • Only women borrowers are eligible
  • The borrower must be a member of a Joint Liability Group (JLG)
  • The loan is meant to be used for income generating activity only
  • Household Annual Income of the borrower should not exceed Rs. 1,00,000/- or Rs. 1,60,000/- in rural area and non-rural area respectively
  • Disbursement of the loan amount has a maximum limit Rs. 1,00,000/-
  • Loan should not exceed Rs. 25,000/- in the first cycle
  • Total indebtedness of the borrower should not exceed Rs. 1,00,000/-
  • Other terms and conditions will be applicable as per RBI regulations

Product Features:

Name of Product Briddhi Loan Sri Briddhi Loan
Clientele (group, individual) JLG member JLG member
Purpose Income generating activities Income generating activities
Age limit 18-55 years 18-55 years
Loan Size Upto Rs. 30,000/- Upto Rs. 1,00,000/-
Loan tenure 12 months 24 months

The other key features of VFS products are:

  • No penalty is charged for delayed payment.
  • Borrower and her spouse are covered under insurance.
  • Prepayment of the loans are allowed without penalty
  • Loans are granted without any collateral
  • Loans are repayable by weekly, fortnightly or monthly installments at the choice of the borrower/group.
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