Income Generation Loan

Income Generation Loan

Loan Overview

Purpose: To empower individuals and businesses with the financial support needed to start or grow income-generating activities, enhancing economic stability and self-sufficiency.
Maximum Loan Amount: Rs. 200,000
Maximum Tenure: 24 months
Interest Rate: 20% (Annual)

Service Charges: Applicable
Security: Guarantors/Mortgage/Pledge

How the installment can be paid: By standing orders or through cheque payments

CRIB check: Needed

Applicable for: Person with a permanent income.

Required Documents

1.  NIC (National Identity Card) Copy
2. Certificate of Residence (Gramanilaghari Certificate or Bill)
3. Copy of Passbook Front page
4. Affidavit
5. Paysheet
6. Letter which describes the reason for the loan

Guarantors

1.  Government guarantors – 01 (NIC copy and Pay sheet)
2. Guarantors employed in the private sector – 01 (NIC copy and Pay sheet)
3. Wife or Husband (If married) – (NIC copy and Pay sheet if needed)
4. If the income of the borrower is insufficient, two neighbors should sign as guarantors (NIC copy of those two)