Micro Loan
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Overview
IDBI Bank extends financial assistance through SHGs/JLGs in the form of small loans (micro loans) to borrowers. It is designed to support entrepreneurship and to empower women by extending financial services.
Eligibility
Members of SHGs/JLGs and SHGs, JLGs for consumption and income generating activities
Consumption loan
Rs.1.25 lakh in rural area
Rs.2.00 lakh in non-rural areas
Other Activities
No annual Income criteria
Loan Amount
Minimum: Rs. 0.10 lakh.
Maximum: Rs. 1.00 lakh per individual borrower/ members of SHG/JLG, subject to the limit of Rs.10 lakh for SHGs/JLGs.
Term Loan
Minimum: 12 months
Maximum: 60 months
Cash Credit
3 Years with annual review
You can now Download Application Form
Rate of Interest for Microfinance Loans
A microfinance loan is defined as a collateral-free loan, irrespective of end use and mode of application/processing/disbursal (either through physical or digital channels), provided to a household having annual household income up to Rs.3,00,000. The household shall mean an individual family unit, i.e., husband, wife and their unmarried children.
| Rate of Interest for Microfinance Loans | |
|---|---|
| Minimum | 13.10% |
| Maximum | 26% |
| Average | 20.85% |