Product |
Features |
Purpose |
Terms & Conditions |
Merry Life Plus Karobar Rin (MKR) |
Loan Range: Rs.5,000 – Rs.1,00,000
Upto Rs. 30000
(for 1 year tenure)
Rs. 31000- Rs 1,00,000 (for 2 Years tenure)
Repayment Mode: Fortnightly/Monthly
Interest rate: 24.7225% per annum (diminishing)
Processing fee: 1% of loan amount including GST
Methodology: JLG of 4 to 6 members |
Provides financial assistance to self-employed men & women to support their business enterprises, such as:
- Increase in working capital
- Purchase of fixed assets
- Expansion & Improvement in business
|
Interest rate: 24.7225% per annum (diminishing)
Processing fee:
1% of loan amount including GST
Insurance Fee:
2.5 Rupees /Thousand / Insured Life + GST 18% of the processing fee
Prepayment Penalty:No charges
Late Payment Fee:
No charges
|
Merry Life Plus Mahila Rin (MMR) |
Loan Range: Rs.5,000 – Rs.1,00,000
Upto Rs. 30000
(for 1 year tenure)
Rs. 31000- Rs 1,00,000 (for 2 Years tenure)
Repayment Mode: Fortnightly/Monthly
Interest rate: 24.7225% per annum (diminishing)
Processing fee: 1% of loan amount including GST
Methodology: JLG of 06 to 30 members |
Provides financial assistance to women to support
- Income generating activities in their household.
- Genuine consumption needs such as, education, household improvement etc.
|
Interest rate: 24.7225% per annum (diminishing)
Processing fee:
1% of loan amount including GST
Insurance Fee:
2.5 Rupees /Thousand / Insured Life + GST 18% of the processing fee
Prepayment Penalty:No charges
Late Payment Fee:
No charges
|
Merry Life Plus Vridhi Rin |
Loan Range : Rs. 10,000/- to 20,000/-
Repayment mode : Fortnightly/Monthly
Interest Rate : 24.7225% per annum (diminishing)
Processing Fee : 1% including GST
Methodology : JLG |
Purchase of Non Grid Solar Product
|
Interest rate: 24.7225% annum (diminishing)
Processing fee: 1% including GST
Insurance Fee for Client: Rs.2.5 /1000/life per annum.
Insurance fee for Client and Spouse: Rs.2.5/1000/life per annum.
Prepayment penalty: 0
Late payment fee: 0
|
Merry Life Plus Urja Rin (MUR) |
Loan is given to the client to purchase solar lighting products
Loan Amount : Rs. 1899
Frequency : 13 Fortnightly installments
Interest Rate : 24.7225% per annum (diminishing)
Processing Fee : 1% of loan amount including GST |
Provides financial assistance to clients for:
- Purchasing solar lighting products
- This decreases the dependence of clients from traditionally used harmful to health oil lamps and increasing the use of clean and renewable energy
|
Interest rate: 24.7225% annum (diminishing)
Processing fee: 1% of loan amount including GST
Service Tax: 15%
Prepayment Penalty: No charges
Late Payment Fee: No charges |
Merry Life Plus Phone Rin |
Loan is given to the client to purchase solar lighting products
Loan Range : Rs. 7000
Repayment mode : Fortnightly/Monthly
Interest Rate : 24.7225% per annum (diminishing)
Processing Fee : 1% including GST
Methodology : JLG |
Purchase of Non Grid Solar Product
|
Interest rate: 24.7225% annum (diminishing)
Processing fee: 1% including GST
Insurance Fee for Client: 12
Insurance fee for Client and Spouse: 24
Prepayment penalty: 0
Late payment fee: 0
|
Merry Life Plus Jal Rin |
Loan Range : Rs. 3399
Repayment mode : Weekly/Fortnightly/Monthly
Interest Rate : 24.7225% per annum (diminishing)
Processing Fee : 1% including GST
Methodology : JLG |
Purchase of Non Grid Solar Product
|
Interest rate: 24.7225% annum (diminishing)
Processing fee: 1% including GST
Insurance Fee for Client: 12
Insurance fee for Client and Spouse: 42
Prepayment penalty: 0
Late payment fee: 0
|