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Since inception, Asmitha has nurtured a vision to provide financial services to people in the low-income segment. Asmitha supports productive projects, which allow its clients to increase their incomes and generate well-being for their families and communities. Asmitha believes in innovation as a tool to offer customized products and services to address the needs of its clients.
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Asmitha offers two kinds of loan products:
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General Loans: The General Loan product is offered to the clients under Joint Liability Group (JLG), a group of five individuals who guarantee each other in the group in order to avail a loan. JLG based credit as a concept is scalable and reliable and has been fairly successful in scaling up for the demand of the low income groups. The loan is provided for a range of income generating activities.
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Micro Enterprise Loans: The Company targets small and medium enterprises, regardless of the client’s gender. The Company has created this secured product to build deeper relationships with group-lending clients who want to grow their businesses, and at the same time expand the client base by reaching out to new segment and strata of business community.
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| Particulars | General Loans | Micro Enterprise Loan |
| Type of Loan | Group Loan (JLG) | Individual Loans |
| Loan Tenure | 10 – 24 Months | 12 – 24 Months |
| Mode of Payment | Weekly / Fortnightly / Monthly | Weekly / Fortnightly / Monthly |
| Security | Unsecured | Secured |
| Interest Rates (on reducing balance method) as per pricing policy of RBI | 24.91% p.a. | 24.91% p.a. |
| Processing Fee | 1% | 1% |
| Insurance (Credit Life) | Actual @ Cost | Actual @ Cost |
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