Are you a farmer, artisan, micro-entrepreneur, or individual involved in non-farming activities seeking hassle-free credit to boost your livelihood? Look no further than Uttar Bihar Gramin Bank‘s Joint Liability Group (JLG) Loan, a financial solution designed to empower groups of 4-10 individuals through mutual guarantees. Here’s what you need to know:
Table of Contents
Purpose/Objective
The JLG Loan program is aimed at providing accessible credit to a wide range of individuals, including farmers, oral lessees, sharecroppers, tenant farmers, micro-entrepreneurs, and artisans involved in non-farming activities.
Types of Loan
This program offers both Cash Credit and Term Loans to cater to different financial needs.
Loan Limit
Each individual can access a maximum loan amount of Rs. 50,000.
Margin & Security
No margin or security is required, simplifying the loan process.
Insurance
- Personal Accidental Insurance is available to protect individuals.
- Crop Insurance is also offered, covering individuals under the Uttar Bihar Gramin Bank Joint Liability Group Loan and is mandatory.
Interest Rate
The interest rate is set at 11.50% (subject to change), with charges applied half-yearly for the agricultural sector and monthly for non-KYC agricultural sector loans.
The Uttar Bihar Gramin Bank JLG Loan empowers individuals through collective strength and mutual guarantees, providing access to vital credit for various economic activities. Our casual and customer-friendly approach ensures that you can discuss your unique financial needs with us, and we’ll help you seize opportunities for growth.
Don’t miss this chance to unlock financial opportunities and improve your livelihood. Reach out to Uttar Bihar Gramin Bank today and take the next step towards a brighter and more prosperous future with the JLG Loan.