GROUP LOAN
GROUP LOAN
ADNL
System of Group-:
✓ One Membership person one ID covered by four loan applicant.
✓ A Group covered by 15 members with 3 membership ID person.
✓ Benefits funds needs for member Group Loan:
- Rate of interest 20% p.a.
- Availed for any amount 10,000/- (Ten thousand) to a maximum 100,000/- (one lakh).
- Hassle free quick processing of loan.
- Minimum documentation and quick disbursal.
- Simplified paper work with group resolution management by group members.
- Easy payment options.
- Installment collection from members choice-able place.
- Weekly installment service with benefit.
Terms and Conditions-:
✓ The rate of interest in the group loan 20% per year.
✓ Avail Loan Amount raging from 10,000/- to 1,00,000/-.
✓ Two join photographs of members and co-members.
✓ Every five loan holder can take one membership in the Axxom development NIDHI LIMITED who will always be responsible for the five loan holder.
✓ Total 15 members can take a group loan individually membership wise.
✓ One group create a 15 members + co-members (as like as guarantor) every member will be held responsible in the group.
✓ Two colored Joint photographs of borrower + co- borrower and his/ her ID prof is required.
✓ The loan recovery method is weekly installment basis with include benefits.
✓ In case of nonpayment of weekly installment by any member, the other group members must manage and pay the installment in time.
Illegibility of group members loan-:
✓ Anyone who in the member ad owns group members can avail the loan.
✓ Every member should submit 2 Nos joint photograph with any one of his/her family members like father/ husband/ mother/ brother/ son/ daughter.
✓ Members age limit should be between 18 to 60 years.
Documents required for taking membership for taking group loan-:
✓ Policy of RBI approved KYC norms of our company – Ration card with photo, Driving license, Pan Card, Voter ID, Passport, Aadhar Card, Telephone Bill, Electricity bill, Bank Account.