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              Our Products and Initiatives

              Our Products and Intiatives


              SKS Microfinance Ltd offers a range of products and services, which have been developed based on the financial needs of working of poor women. We classify our offerings into proprietary and distributor products.

              Product Features Benefits
              Income Generation Loans (IGL) - Aarambh Loans range from Rs. 9,100 to Rs. 20,010 for the first loan; subsequent loan amounts determined by past credit history and increased each in set increments up to a maximum of Rs. 29,565

              Term of the loan is 50 weeks with principal and interest payments due on a weekly basis

              19.75 % annual effective interest rate and processing fee of 1%
              Provides self-employed women financial assistance to support their business enterprises, such as raising livestock, running local retail shops called kirana stores, providing tailoring and other assorted trades and services
              Mid-Term Loan (MTL) - Vriddhi Loans range from Rs. 9,100 to Rs. 15,010 for the first loan; subsequent loan amounts determined by past credit history and increased each in set increments up to a maximum of Rs. 15,010

              Available any time after the completion of 19th weeks & till 46th weeks of an IGL cycle and till 96th week of LTL cycle.

              Term of the loan is 50 weeks with principal and interest payments due on a weekly basis

              19.75% annual effective interest rate and processing fee of 1%
              Provides self-employed women financial assistance to support their business enterprises, such as raising livestock, running local retail shops called kirana stores, providing tailoring and other assorted trades and services
              Long Term Loan (LTL) Loans range from Rs. 30,915 to Rs. 38,635 for the first cycle loan; subsequent loan amounts determined by past credit history and increased each in set increments up to a maximum of Rs. 49,785

              Term of the loan is 2 Years 104 weeks with principal and interest payments due on a weekly basis

              Members must have completed 2 IGL Cycles

              19.75% annual effective interest rate and 1% processing fee of loan amount disbursed
              Provides self-employed women financial assistance to support their business enterprises, such as raising livestock, running local retail shops called kirana stores, providing tailoring and other assorted trades and services

              To Increase Members Working Capital for their business
              Biomass Cook-stove Loan

              Solar Light Loan

              Water Purifier Loan

              Mobile Phone Loan

              Bicycle Loan

              Sewing Machine Loan

              Loan amount ranges from Rs. 1,799 to Rs. 5,290.

              Loan tenure is 25 weeks

              Annualized Interest rate ranges from 19.60 % to 19.70% depending on the product

              Loans are offered to members for purchase of products like cook-stove/ solar light/ water purifier/ mobile phone/ bicycle and sewing machine to enhance their productivity and income generation ability

              Swarna - pushpam Gold Loan

              SKS MICROFINANCE SWARNAPUSHPAM GOLD LOAN SCHEME CHART (effective from March 30, 2015)

              Scheme Tenure in Days Interest rate Scheme Tenure in Days Interest rate
              SP3 0-30 15.00% SP4 0-30 19.20%
              31-90 20.00% 31-90 21.00%
              91-180 22.00% 91-180 24.00%
              181-360 24.00% 181-360 26.00%
              Broad features:
              1. Loans range from Rs. 2,000/- to Rs. 2,00,000/-
              2. 0.5% loan processing fee is applicable on the loan amount at the time of disbursement.
              3. The SP4 scheme has a maximum exposure of 75% loan to the gold value of that day whereas the SP3 scheme has a maximum exposure of 68% loan to the gold value of that day.
              4. The maximum loan tenure for SP3 and SP4 schemes is 365 and 270 days respectively.
              5. Simple interest only.
              6. No pre/ part-closure charges.
              7. No additional charge for late payment.
              8. Interest rate will be charged as per the relevant slab mentioned.
              9. If the loan is not repaid as agreed or on demand within the tenure of the respective scheme, the Company shall have the right to charge overdue interest at the highest rate of interest slab of the scheme agreed upon, on the outstanding after completion of the tenure till the date of recovery on monthly basis.
              Repayment method:
              1. Bullet repayment with an option to pay any amount at any time within the tenure
              List of enclosures required:
              As per RBI KYC norms, identity, age and address proofs are required for loan processing.
              Provides personal or business loans to our members and non-members secured by gold jewellery to meet their short-term liquidity requirements.
              Note 1: "In accordance with the RBI's circular dated May 03, 2011 on 'Bank loans to Micro Finance Institutions (MFIs) - Priority sector status', with effect from June 01, 2011, the Company plans to charge a processing fee of 1% (of the loan amount) on all microloans offered across India. The credit shield Insurance premium will be collected from the borrowers on actual basis without any administrative charges."
              Note 2: Per RBI circular DNBS. 204/CGM (ASR)-2009 dated January 2, 2009, SKS’s Board of Directors has discussed and formally adopted an interest model based on cost of funds, operational costs, and risks involved for each product.
              Product Features Benefits
              Life Insurance Weekly payment of Rs. 20 for the term of five years Upon death, we disburse to the beneficiary the full sum assured of Rs. 5,000 plus the account value, which is equal to the aggregate of the premiums paid plus interest accrued, if any, less any charges for the administration of the policy

              In the event the death is deemed an accidental death, the beneficiary receives Rs. 10,000 plus the account value

              Upon maturity in five years where no death has occurred, we disburse to the policyholder the account value.
              Note 1: "In accordance with the RBI's circular dated May 03, 2011 on 'Bank loans to Micro Finance Institutions (MFIs) - Priority sector status', with effect from June 01, 2011, the Company plans to charge a processing fee of 1% (of the loan amount) on all microloans offered across India. The credit shield Insurance premium will be collected from the borrowers on actual basis without any administrative charges."
              Note 2: Per RBI circular DNBS. 204/CGM (ASR)-2009 dated January 2, 2009, SKS’s Board of Directors has discussed and formally adopted an interest model based on cost of funds, operational costs, and risks involved for each product.
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