Muthoot Microfin is a pioneer in product innovation and design. The institution’s products are fundamentally designed for the empowerment of women by economically activating them. Our clients are economically backward women entrepreneurs from rural areas and urban slums, for whom formal financial services are unreachable.
The institution’s product basket - including Livelihood, Health & Hygiene and Life Betterment solutions - addresses the life cycle needs of disadvantaged communities living in the remote corners of the country. The institution further supports the women entrepreneurs with skill training programs, business acumen trainings and financial literacy classes.
- Income Generating Loan
- Dairy Loan
Income-generating loans are our principal loan product offered to women in rural areas, intended to provide capital for their small businesses. The loans are offered for businesses in multiple sectors. Income generating loans are backed with group guarantee in a joint liability group.
Lack of capital is identified as one of the most important obstacles for disadvantaged women to venture into entrepreneurship. Through our IGL package, Muthoot Microfin aims to provide financial support to disadvantaged women who have the potential to uplift themselves in the society, but investment has been the hindering factor all while.
Muthoot Microfin provides loans to micro enterprises – for initial investment and for expanding businesses. The loans are offered in different cycles.
| Loan Amount | Rs. 10,000 - Rs. 80,000 |
| Tenure | 52/104 weeks 0r 12/24 months |
| Rate of Interest | 23.90% - 24.95% p.a. (Diminishing) w.e.f. December 12, 2022 |
| Processing Fees | 1% |
Dairy Loan is intended for the dairy development activities of the clients including purchase of new cattle to increase their income level. Dairy Loan is joint liability group loan offered to economically active women engaged in dairy as main/subsidiary activity. Dairy Loan can be availed in a convenient weekly or monthly repayment scheme.
The product has the potential to make a wider and deeper impact in dairy sector as 70% of milk production is through small and marginal farmers and dairying is predominately women led activity in rural India.
| Loan Amount | Rs. 30,000 - Rs. 50,000 |
| Tenure | 104 weeks/24 month |
| Rate of Interest | 23.90% - 24.95% p.a. (Diminishing) w.e.f. December 12, 2022 |
| Processing Fees | 1% |
Key Features and Benefits of our Products
- Access to credit for the marginalised sections of the society
- Enables access to education and healthcare for people who do not have access and/or affordability
- Improves income and nutrition for families, especially women
- Smaller loans do not burden the individual and family and repayment is in easy installments
- An entrepreneur once successful will hire others, and it will lead to job and wealth creation
- Significant economic gains for the nation as a whole
Eligibility Criteria
Applicants must meet the following requirements to be eligible for the loan:
- Should fulfil KYC documents requirements
- Age should be between 18 to 60 years
- Should not have an adverse credit record
- Should meet the acceptable credit norms as per RBI andMuthoot Microfin
- Should be part of a group of customers who are willing to guarantee each other for the repayment of loan
How to Apply
- Visit the nearest Muthoot Microfin branch and our Relationship Officer will guide you on the application process.
- Call us on our toll-free number 1800 1027 631and our Relationship Officer will fix a doorstep service appointment to help you with the application process.
For Terms and Conditions, please contact the nearest Muthoot Microfin branch.
Loan approval is at the sole discretion of Muthoot Microfin Limited.
Easy Documentation
A complete KYC process is required to take a microfin loan.
The documents required are:
- Primary ID:
- Aadhaar
- Secondary ID:
- Voter ID card
- PAN card
- Passport
- Driving licence
- MGNREGA Card
- Letter issued by Government authorities
- Passbook of nationalised banks
- Address Proof:
- Voter ID card
- Aadhaar
- Passport
- Driving licence
- MGNREGA Card
- Letter issued by Government authorities
- Passbook of nationalised banks
- Life Insurance policy or latest Premium receipt
- Rent agreement
- Consumer gas connection card/Book
- Utility bills (not more than 90 days old)
-
Photograph
A recent passport size photograph
-
Proof of Identity
Aadhar Card and Voter’s ID
-
Address Proof
Voter ID / Aadhar Card / Driving License / Ration Card / Passport
-
Age Proof
Passport / Aadhar Card
-
Income Proof
Financial documents would include copies of IT returns for the previous two years and the recent bank statements for six months.
Customer Success Stories
Jaya Surendran is a 51-year-old housewife turned farmer and cattle breeder from Thrissur district of Kerala. Her husband, involved in farming for decades was the sole bread winner for the family of four.... read more
Dreams do come true
Sindhu T from Thiruvillamala in Thrissur district of Kerala opened a small cosmetic and beauty care products shop near her home four years ago. However, the shop hardly generated enough earnings due to... read more
Determined to Succeed
Shamshad Begum from Badami in Bagalkot district of Karnataka has finally achieved financial freedom after years of struggle. She now runs a popular tailoring unit near her home. Shamshad Begum had to... read more
Role model of women empowerment
Why Muthoot Microfin?
Muthoot Microfin is a part of Muthoot Blue (Muthoot Pappachan Group). Muthoot Pappachan Group has a reputation that has been shaped over decades with high-quality practices, total customer satisfaction and steady growth. We believe that the history of Muthoot Pappachan Group in working with customers from the bottom of the economic pyramid, helps us better address the needs of our target customers. We are passionate about helping people from the bottom of the pyramid to realize their dreams. Our brand identity possesses an unwavering commitment to financial inclusion.
You can trust Muthoot Blue because:
- We have over 4200 branches across India. Visit your nearest Muthoot Blue branch to get a microfin loan quickly and without any hassle.
- Nearly 1,00,000 customers walk into our branches daily and are assured of trustworthy and simple services.
- Our customer-centric approach and innovation over the past +133 years without compromising on the God-given values of trust, truth, transparency and tradition is what helps us in empowering the human ambitions.