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Kerala Grameena Bank group loans for self help groups and joint liability groups, to meet members' urgent needs, cut reliance on moneylenders and fund small production work.
Last updated on
- Status
- Open
- Run by
- Kerala Grameena Bank
What you get
- Joint liability groups of 4 to 10 members, up to ₹5 lakh, with a ceiling of ₹50,000 per member
- Self help groups of 10 to 20 members, up to ₹10 lakh for the first and second loans and up to ₹15 lakh after that, based on the group's savings
- No owner contribution
- Up to ₹10 lakh, secured only on the assets bought with the loan
- Above ₹10 lakh, extra security worth at least 12.5% of the loan, such as insurance policies, deposits, other securities or property
- Repaid in monthly instalments over 3 to 7 years for joint liability groups and 3 to 5 years for self help groups
Who can apply
- Nano enterprises.
- The most on offer is ₹15 lakh.
- Borrowing is through a group, not as an individual
- The group must have bylaws, keep proper books, meet regularly and lend and recover among members
- The group must have run credit from its own savings, preferably through a bank account
- The group can be registered or unregistered
How to apply
- Apply through your group at your nearest Kerala Grameena Bank branch
In person, nearest Kerala Grameena Bank branch, applying as a group
In Kerala, any Kerala Grameena Bank branch, through your self help group or joint liability group. The bank says it has over 635 branches across all districts of Kerala.
Where we found this
An independent guide by The Company of Four, not a government website. Schemes change often, so check every detail on the official website before you apply. Links marked ↗ open external websites that we do not run, and we are not responsible for their content. Seen something out of date? Tell us and we will look into it.