JLG (Joint Liability Group) Loan-
JLG (Joint Liability Group) are group that share responsibility of each other at the time of taking loan. The Bihar State Cooperative Bank offers JLG (Joint Liability Group) Loan is under priority sector lending to empowering women and helps provides for income generating activity in rural and urban areas. It is a collateral free loan that based on group grantee concept.
- Loan up to Rs. 1 lac.
- Low Processing Fee above 25000.
- Repayment up to 18 months to 24 months.
- Low Interest rate.
- No Hidden Charges.
- The applicant should be permanent resident of the area.
- one-family can be provided with only one loan. A family means a nuclear or extended family depending upon one kitchen.
- Age: 18-55 years.
- Loan disbursement would be in Group of 5-10 members.
- For income generating activities or for general / consumption purpose.
- Joint Photograph of Borrower and Co-Borrower.
- Loan application form
- Group Guarantee