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Current Products and Services: |
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Micro-Credit |
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Nirantara is offering micro loans only for
productive purposes. Loans are given broadly
under 4 sectors such as Agriculture allied,
Production, Trading & Services.
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Sr. No |
Product |
RoI |
Other charges |
Loan size
(In INR) |
Loan Tenure |
Remarks |
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1 |
Income Generation
Loan
(IGL-50) |
15% Flat |
Membership
Fee-100/-
LMF-2%
Insurance
Premium-100/-
ISF-50/- |
2000/-to 15000/- |
50 weeks |
Maximum of INR
9,000/- & INR 15,000/- can be
availed during first & second
cycles respectively |
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2 |
Supplementary
Income Generation Loan
(SIGL-50) |
15% Flat |
Same except
membership fee |
3000/- to 5000/- |
50 weeks |
For existing
customers after 25 weeks of
relationship |
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Micro-Insurance |
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 Nirantara
is offering life insurance coverage for our
member as well as her spouse / family
member. Though the scheme covers only one
Life Insured (LI), we are covering both
member as well as her spouse (LI).
Product
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Janashree Bima Yojana (JBY), a joint
initiative of GoI & LIC of India for BPL
community |
Partner Insurance Company
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LIC of India
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Nature of product
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Pure Term Insurance Plan (no maturity
benefits) |
Sum assured (INR)
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Natural Death: 30,000/-
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Accidental Death: 75,000/-
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Full Disability: 50,000/-
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Partial disability: 37,500/-
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Premium payable (INR)
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Rs. 100/-
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Insurance Service Fee (INR)
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Rs. 50/-
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Coverage period/ Mode of Premium collection
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One year
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Premium collected up-front before loan
disbursement |
Life Insured & Nominee
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Spouse of the member is Life Insured (LI)
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Member-borrower is nominee
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If member is a widow, LI will be her major
son |
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If member has no major son, then member
will be LI and minor child (preferably,
daughter) will be nominee
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Consequences of death of the LI
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Nirantara pays Death Relief Support (DRS)
of Rs. 1000.00 to the member in case of the
death of the spouse (LI) as soon as we come
to know about the incident
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Repayment collection will be suspended
from immediate effect
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Our team gathers necessary documents for
claim and submit to the LIC of India
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Claim settlement by LIC to Nirantara
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Nirantara pays out to the nominee after
adjustments |
Claim Settlement
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Loan coverage for both – In case of
unfortunate death of member or spouse, Nirantara writes off the loan of the member
from the books |
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Also, after claim settlement from LIC,
Nirantara pays insurance amount to the
nominee (after deducting loan principal
outstanding & DRS amount)
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Purpose of loans:
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Nirantara Community Services has advanced loans to
various purposes under 4 broad heads – Agriculture
& Allied, Production, Services & Trading. Various
activities under each sector are as follows:
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Sector |
Activities |
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Agriculture and allied |
Purchase of Buffalos, Cows, Bulls &
Goats,
Purchase of inputs for agriculture |
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Production |
Bakery items, Saree works, Furniture,
Inscense sticks, Bidri craft articles |
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Services |
Auto Rickshaw purchase/repair/fitness,
Tea/Tiffin Hotel, Stitching &
Pico-Fall, Plastering & Centring works,
Cycle Taxi Shop, Motor Garage,
Carpentry, Electrical & Electronic
works, TV Repairing & assembling, Gold
smithy, Copper works, Tiles work,
Plumbing, Painting, Watch repairing,
Hair Dressing Saloon, Welding, Auto
Parts, Laundry, Bag stitching & rexin
works, Steel works, Vehicle Body
building, purchase of taxi & trolley
vehicles, repairing & accessories for
vehicles, Videography |
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Trading |
Grocery shop, Beef Shop, Fruit Business,
Vegetable Business, Har Ek Maal
(Multiple products for same price),
Pan Shop, Cloth Business, Flower
Business, Fuel Wood Sale, Steel Utensil
Business, Pork Shop, Scrap Business,
Bangle Store, CD Rent & Sales, Building
Construction Materials & Paint shop,
Honey Business, Fish Business, Foot wear
shop, Groundnut business, Sweet Shop,
Mehendi Business, Pickle Business |
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