BUSINESS LOAN:
Business Loan offers low income members an opportunity to borrow funds for financing of their working capital needs as well as finance business expansion in a hassle-free manner.
Purpose of loan
- Financing daily business activity / working capital needs.
- Funding purchase of fixed assets / machinery / equipment.
| Loan eligibility | . Age 18-64 Years (at the time of loan Application) . Should have a valid CNIC . |
|---|---|
| Loan duration | . Maximum 18 Months (Up to PKR 500,000) . Maximum 24 Months (above PKR 500,000 to PKR 1,000,000) |
| Repayment option | . Equal Monthly Installments from 12 to 24 months |
| Interest rate | . 23% p.a. Declining balance method |
| Loan Amount | Up to Rs. 1,000,000/- |
| Collateral | .Standard of Share to Loan proportion of 1:5 |
| Fee & Charges | . As per society policy of 0.04% of disbursed amount |
| Insurance | . Life Insurance for all Loanee’s with minimal insurance premium of 0.05% of disbursed amount |
2. GROUP LOAN:
The loan is offered to any group consist of three members for using as capital in their micro-scale business and other income-generating activities in order to improve their livelihood.
| Loan eligibility | . Age 18-64 Years (at the time of loan disbursement) . Should have a valid CNIC |
|---|---|
| Loan duration | Maximum 24 Months |
| Repayment option | . Equal Monthly Installments from 12 to 24 months |
| Interest rate | . 10% p.a. flat balance method |
| Loan Amount | . Up to Rs. 300,000/- |
| Collateral | Series Guarantee of all three Loanee’s. |
| Fee & Charges | As per society policy of 0.04% of disbursed amount |
| Insurance | Life Insurance for allLoanee’s with minimal insurance premium of 0.05% of disbursed amount. |