The micro finance is basically small scale finance to encourage the financially backward and
for
those earning on the day to day basis.
This financing system is to provide free service to the society. There is no service charge
and
no profits are expected from the borrower.
This financing system is available with surety.
It is available upto Rs. 50,000. For first year upto 25000/-
For gold surety only 80% of value he will get loan
Customer has to buy 2.5% share to avail this loan.
Term – Dain
It will given for 12 -18 months period
Personal Finance
Personal finance is provided in case of emergency.
This financing system is to provide free service to the society. There is no service charge
and
no profits are not expected from the borrower.
This financing system is available with surety.
It is available up to Rs.2, 00,000.
Customer has to buy 2.5% share to avail this loan.
Borrower should provide proof of monthly income source. i.e, Salary certificate, Business
detail
Etc.
Call Finance
It is a short term financial option available to a business man for the turn over.
This is available for a particular purchases.
Soon after the sale the borrower has to return the amount with the agreed profits to the
bank.
The profit sharing ratio and the time period has to be sorted before the agreement.
Maximum duration for this loan is 1 Year.
Bank cheques, agreement(profit expected), 2 sureties, business details and mortgage(land
documents, vehicle etc)
Approval from the board has to be taken for this loan.
It is available upto Rs. 50,00,000.
2.5% Share to be taken for this loan
Processing fees Rs. 500/-
Documentation fees minimum Rs. 500/- max0.75% of the value.
1% Appraisal fees to be taken for above Rs. 10,00,000/-
mudarabah
Auto Finance
It is available for the purchases of vehicles.
This finance is provided by the basis of Murabaha(Cost plus).
In this case the bank purchases the goods specified by the customer.
The bank sells the goods with a profit to the customer.
The customer makes payments in terms of installments.
The selling price of the bank and the installment will be agreed by the party and the bank.
2.5% Share to be taken for this loan
Processing fees Rs. 500/-
Documentation fees minimum Rs. 500/- max0.75% of the value.
Preclosure may get special discount.
House Hold Finance
It is available for the purchases of home appliances.
This finance is provided by the basis of Murabaha.
In this case the bank purchases the goods specified by the customer.
The bank sells the goods with a profit to the customer.
The customer makes payments in terms of installments.
The selling price of the bank and the installment will be agreed by the party and the bank.
2.5% Share to be taken for this loan
Processing fees Rs. 500/-
Documentation fees minimum Rs. 500/- max0.75% of the value.
This financing provides upto Rs. 100,000.
Small scale running business finance Type 1
This finance system is available for the business which already exists.
The financing is available upto Rs. 500,000.
This is specially to promote a running business.
The business has to share some of profits.
The profit sharing will be decided on the mutual understanding of the bank and the
borrower.
This is available with surety.
Processing fees Rs. 500/-
Documentation fees minimum Rs. 500/- max0.75% of the value.
The finance system uses Musharaka and Mudarabah.
Musharaka, Mudarabah
Large scale running business finance
This finance system is available for the business which already exists.
The financing is available upto Rs.50,00,000.
This is especially to promote a running business.
The business has to share some of profits.
The profit sharing will be decided on the mutual understanding of the bank and the
borrower.
This is available with and without surety. Directors board.
2.5% Share to be taken for this loan
Processing fees Rs. 500/-
Documentation fees minimum Rs. 500/- max0.75% of the value.
1% Appraisal fees to be taken for above Rs.10,00,000/-
The finance system uses Musharaka and Mudarabah.
Finance for new business 1:
In this financing system, the bank gives the total capital amount required by the business.
The bank holds the ownership of that business.
The capital lent will be upto Rs.10,00,000.
The profit sharing ratio will be decided on the mutual understanding of the bank and
the
borrower.
2.5% Share to be taken for this loan
Processing fees Rs. 500/-
Documentation fees minimum Rs. 500/- max0.75% of the value.
Finance for new business 2:
In this financing system, the bank gives the partial/total capital amount required by
the
business.
The capital lended will be upto Rs.10,00,000.
The profit sharing ratio will be decided on the mutual understanding of the bank and the
borrower.
This system is available with surety. If customer return investment along with profit
gradually he will become owner of the venture. We will get only profit of our
investment.
The borrower has to pay back the installments along with profits.
2.5% Share to be taken for this loan
Processing fees Rs. 500/-
Documentation fees minimum Rs. 500/- max0.75% of the value.
