Welcome to Navodit Foundation

LOAN PRODUCTS

All our products are framed keeping in mind RBI norms. The household annual income of a borrower should not exceed Rs.125000/- in rural and Rs.200000/- in urban areas respectively. The loan amount of individual does not exceed Rs.75000/- in first cycle and a maximum of Rs.125000/- in subsequent cycles. The total indebtedness of the individual borrower does not exceed Rs.125000/- (excluding loan for education and medical expenses). The minimum tenure of the loan will be 24 months for loan amount exceeding Rs.30000/-.

SHG VERTICAL

General Purpose Loan

As the name indicates, it’s a general purpose loan which can be used for any income generating activity.

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ELIGIBILITY

NAVODIT FOUNDATION women groups promoted by approved our CMRCs/ NGOs. The group should have a minimum of 10 members and a maximum of 20 members and is a homogeneous group with common interest and objectives. The group meetings are regular and all books of accounts are maintained and updated regularly. .

Quantum of loan

The quantum of loan is need based and is linked to the repaying capacity based on the house hold cash flow. The maximumloan amount is also linked to the loan cycle. The first linkage limit is a maximum of Rs.3 lakhs subject to cash flow of the group and the savings of the group with a minimum of four times the group savings. The maximum loan for CMRC promoted groups will be Rs.12,50,000/- and for groups promoted by very good NGOs the maximum loan amount will be Rs.10,00,000/-.

Loan tenure

Depending on the repayment capacity, the maximum tenure will be 36 months. The loan is repayable in monthly instalments.

Interest rate

  • For loans upto Rs.300000/- - 19%
  • For loans above Rs.300000/- - 20%
  • Interest is not compounded and on reducing balance.
Borrow - Loan Company Responsive Website Templates
Borrow - Loan Company Responsive Website Templates

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General Purpose Loan

As the name indicates, it’s a general purpose loan which can be used for any income generating activity.

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ELIGIBILITY

All women who are interested in availing loan from us will have to undergo a 3 days training programme. They have to pass a simple test also based on the 3 days training inputs. After this, a homogeneous group will be formed with members having common interest and are neighbours in one group. The group should have a minimum of 5 members and a maximum of 10 members. The group meetings are regular and all books of accounts are maintained and updated regularly.

Quantum of loan

The quantum of loan is need based and is linked to the repaying capacity based on the house hold cash flow. The maximum loan amount is also linked to the loan cycle. The first cycle loan limit is maximum of Rs.30000/- and increase by Rs.10000/- in each cycle subject to cash flow of the individual.

Loan tenure

Depending on the repayment capacity, the maximum tenure will be 36 months. The loan is repayable in monthly instalments.

Interest rate

  • Uniform interest rate at 21% irrespective of the quantum of loan.
  • Interest is not compounded and on reducing balance.

Water and Sanitation loans

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We have been lending for the last 12 years under WASH programme as a socially responsible organisation and joined hands with the Government in ensuring villages are free from open defecation. In this connection we have designed products such as loans for construction of Toilets, Toilet cum bathroom, Purchase of Water filter including RO water purifier, Construction of sump, Overhead tank an repairs to the existing toilets..

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ELIGIBILITY

Members of the NAVODIT FOUNDATION group who have already availed general purpose loan once

Quantum of loan

The quantum of loan is need based and is linked to the repaying capacity based on the house hold cash flow. The maximum loan amount is also linked to the loan cycle. The first cycle loan limit is maximum of Rs.30000/- and increase by Rs.10000/- in each cycle subject to cash flow of the individual.

Loan tenure

Based on the cash flow of the house hold and the maximum loan tenure is 24 months with monthly repayments.

Interest rate

  • All loans are with interest rate of 19%.
  • Interest is not compounded and on reducing balance.
Borrow - Loan Company Responsive Website Templates

NAVODIT FOUNDATION has set itself a mission to "identify and motivate poor people in a cost-effective way and deliver them micro finance services in an honest, timely and efficient manner." In the meantime, NAVODIT FOUNDATION commits to be professionally managed, operationally sustainable and financially profitable..

H 15/182
PANCHKOSHI ROAD,BHARALAL,SHIVPUR,VARANASI (UP)-221003

9415-743-645

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