Financing growth & transforming rural India.

Bank of Baroda, for rural India, with rural India.

Financing of Joint Liability Groups

  • Benefits
  • Features
  • Eligibility Criteria
  • Document Required
  • Fees & Charges
  • Most Important Terms & Conditions (MITC)

Financing of Joint Liability Groups : Benefits

  • No collateral and margin is required for loans up to Rs 10.00 Lakhs
  • Nil Pre-payment Charges

Financing of Joint Liability Groups : Features

Provides interest free loans to JLGs for their financial needs.

Financing of Joint Liability Groups : Eligibility Criteria

  • iMembers should belong to similar socio-economic status, background and environment carrying out farming and Allied activities and who agree to function as a joint liability group. The groups should be homogeneous and organized by likeminded farmers/Individuals and develop mutual trust and respect.
  • The members should be residing in the same village/ area/ neighbourhood and should know and trust each other well enough to take up joint liability for group/individual Loans.
  • Members who have defaulted to any other formal financial Institution, in the past, are debarred from the Group Membership.
  • More than one person from the same family should not be included in the same JLG.

Financing of Joint Liability Groups : Document Required

  • KYC Documents (AADHAR, Voter ID, PAN Card, Driving License etc.)
  • Passport Size photo
  • Letter of Sponsorship from the Sponsoring agency.
  • JLG Membership Form

Financing of Joint Liability Groups : Fees & Charges

No loan Processing fee/ Documentation Charges/inspection charges will be levied if the per member exposure is up to Rs. 25,000/-.

Financing of Joint Liability Groups : Most Important Terms & Conditions (MITC)

Type of facility Cash Credit/Term Loan
Quantum of Loan Maximum Rs 10.00 Lakhs
Rate of Interest
  • Limit upto Rs 3.00 Lakhs: One year MCLR+SP+0.50%
  • Limit above Rs 3.00 Lakhs: One year MCLR+SP+1.00%
Pre- payment and foreclosure No prepayment penalty and foreclosure charges applicable
Security No collateral and margin will be charged up to Rs 10.00 Lakhs
Repayment Monthly

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