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Microfinance is the extension of small loans for underprivileged, who also get access to saving, credit, insurance and other financial services.

YES Bank :

Particulars loan product – 1 loan product – 2 loan product – 3 loan product – 4 loan product – 5 loan product – 6
Loan Amount 15,000 15,000 20,000 20,000 25,000 30,000
Loan tenor 12 Months 18 Months 12 Months 18 Months 18 Months 18 Months
Interest rate charged 26% on Reducing Balance 26% on Reducing Balance 26% on Reducing Balance 26% on Reducing Balance 26% on Reducing Balance 26% on Reducing Balance
Processing fee 173 173 230 230 288 345
Insurance charge 154 318 205 424 530 636

IDBI Bank :

Particulars loan product – 1 loan product – 2 loan product – 3
Loan Amount 15,000 20,000 25,000
Loan tenor 18 Months 18 Months 18 Months
Interest rate charged 24% on Monthly Reducing Balance 24% on Monthly Reducing Balance 24% on Monthly Reducing Balance
Processing fee Not Applicable Not Applicable Not Applicable
Insurance charge 318 424 530

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