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  • Micro Finance Loan

What are Microfinance Loans?

Microfinance customers are typically under / unbanked individuals or groups who do not have access to traditional financial resources. They are self-employed, and typically home-based entrepreneurs. In rural areas, the customers are typically those engaged in small-scale income generating activities - farming, food processing, trade, etc. Microfinance Loans have played a crucial role in driving financial inclusion in India. Microfinance lenders have done this by providing easy access to formal credit to borrowers in semi-urban and rural areas.

Tata Capital provides easy Microfinance Loans available at attractive interest rates. Avail a loan up to Rs. 1 lakh through a simple process with minimal documentation. Get flexible tenures up to 36 months and repay your Microfinance loan EMI as per your convenience. Tata Capital offers fast Micro Loan processing and tailored offerings ideal to fund your diverse financing goals.

Disclaimer: Micro Finance Loans are at the sole discretion of Tata Capital Limited (TCL). Terms and conditions apply.

  • Loan Amount offered

    ₹5,000 - ₹1,00,000

  • Loan Tenure

    12 - 36 Months

  • Interest rate starting @

    21% - 28%*

  • Average rate of interest in last quarter

    25.49%

  • Average Interest Rate

  • Processing Fees

    1% + GST

 

 

*The above interest rates are applicable from 1st September, 2022

Advantages Of Microfinance Loans

Access to quick funds

We serve small business owners and entrepreneurs in the underdeveloped parts of India for a sustainable livelihood and help low-income people in the underdeveloped parts of India

Collateral-free loans

We offer unsecured loans wherein you can borrow money without any collateral

Quick processing

The turnaround time is quick in case of urgent requirement of loan

Promotes self-sufficiency and entrepreneurship

We help budding women entrepreneurs to be self-reliant 

Improved income

These small loans help women borrowers get access to key agricultural inputs such as seeds and fertilizers for increasing crop productivity and generating more income from the market. The loans also help customers involved in farming-allied and other small activities improve thier incomes

Types of Microfinance Loans

Types of Microfinance Loans

Pragati

 

Pragati loans are crafted to support an economically active women residing in low-income areas, generally involved in small trade and service, agriculture and cattle farming. While it is not necessary for the customer to have a separate business setup, the Micro Loan is to be necessarily used for an income generation purpose. Initially a Tata Capital customer has to start as Pragati JLG (Joint Liability Group). Customers with good track record will be eligible for additional funding.

 

    Key Features

     
    • Loan Amount : Rs 5,000 - 75,000
    • Type of Loan : Unsecured Group Loan
    • Tenure : 12 Months to 36 Months
    • Repayment Frequency: Monthly or Fortnightly.
    • Eligibility: You are eligible for Pragati Loan if you are an Indian National, between the age of 18-58 years living in rural, semi-urben area of India.
    • Your eligibility also depends on the credit history of you and your co-applicants.

       

Types of Microfinance Loans

Tatkal

 

The Tatkal loan is a short term loan offered by Tata Capital to help our existing eligible customers of the Pragati loan by providing emergency funding to meet their urgent and unforeseen needs. The hallmark of the Tatkal loan is it’s quick and hassle free sanction process with a rapid turn around time for disbursement and fund transfer, which allows us to help the customer borrow from us at lightning speed.

 

Key Features

 
  • Loan Amount : Rs. 10,000 to Rs. 20,000
  • Type of Loan : Unsecured Group Loan
  • Tenure : 6 months to 12 months. Tatkal Loan will be co-terminus with the existing Pragati loan
  • Repayment Frequency: Weekly, Fortnightly and Monthly
  • Eligibility:

 

a) An existing customer of Pragati loan who has paid minimum 6 EMIs on the existing loan (for first cycle & above)

b) A customer who was new to credit and has an active first cycle Pragati loan who has paid minimum 9 EMIs

Microfinance Loan eligibility criteria

  • Age between 18- 58

  • Involved in income-generating activities

How to apply for a Mircofinance Loan?

How to apply for a Microfinance Loan?

  • Visit Our Branch

    One of the ways to apply for a Microfinance Loan is to visit one of our country-wide MFI branches and our representatives will walk you through the entire process.

  • Contact our Representative

    Our representatives visit villages to familiarise themselves with the environment in which they will be working. They identify prospective clientele and explain the purpose and functions to them.

How to apply for a Mircofinance Loan?

  • Call us

    Applying for a Microfinance Loan at Tata Capital is just a phone call away! Simply contact us at 1800 209 9809 and we will guide you through the process.

What are the Microfinance Loan EMI options available?

Bi - Monthly

Microfinance Loan EMI is a fixed payment made by the borrower to a lender on a specified date, starting 14 days from the disbursement date. EMIs are applied to both the interest and principal components over the tenure of the loan.

Monthly

EMI is a fixed payment made by borrower to a lender on a specified date of each month.

Weekly

EMI is a fixed payment made by the borrower to a lender on a specified day of each week every month

6 reasons why you should choose us

With the customer’s individual desires and needs in mind, our team at Tata Capital guides you at every step and offers specific financial solutions.

  • Tata Capital - A name you can trust

    We keep your unique needs at the heart of what we do. Our team guides you at every step to offer customized financial solutions.

  • Attractive interest rates

    Enjoy our competitive Microfinancing Loan interest rates. We give you a tailored borrowing experience so you can repay at your own pace.

  • Fix anything that’s broken

    Over the years, even the best amongst us end up suffering through a little wear and tear. Give wings to your dreams with Tata Capital Microfinance Loans.

  • Minimal documentation requirements

    We ask for minimal documentation for processing your micro loan online application. Say goodbye to document hassles and long processing times.

  • Because you deserve the best opportunity

    Why would you want to compromise on any opportunity that is coming on your way? Turn it on and make it happen, we are with you!

  • We’ve been around for a long time

    This means we understand your needs and give you tailored solutions to help you meet them.