SHG

Securing futures and lives of the less advantaged by helping them achieve financial self-reliance.

The evolution of the Indian banking sector has witnessed financial inclusion slowly become a requirement from a mere need. We at Shivalik Bank believe that the less privileged are not disadvantaged after all, and helping them understand and manage their finances could be only for the greater good.

Shivalik Bank has whole-heartedly supported, encouraged and provided such micro-financing services by creating self-help groups and mini self-help groups in villages and rural areas where such low-income groups are struggling to achieve financial independence.

SELF HELP GROUPS

Self-help groups have a limit sanction of Rs. 5.00 Lakhs to Self Help Group subject to Ist DP set Rs. 30,000/- or four times of savings (whichever is higher) and max. 0.40 Lakhs.

Eligibility

  • Group size (Min10 -Max20)
  • Age Limit is 18 yrs to 60 yrs.
  • OD limit will be sanction after minimum four regular savings A/c opening date will be considered as Ist month’s saving.
  • Grading of the SHG must be done before any disbursement. Grading format is available in group’s register.
  • All SHG members need to open their individual savings a/c before sanctioning the loan.

Tenure

  • 5 years

Requirements

  • Resolution passed for applying sanctioning of OD Limit.
  • Recommendation from Block Coordinator of Janhit Foundation Confirmation
  • Letter of opening SB A/c of all members from Block Coordinator.

Security

  • Personal Guarantee of Group members

DP Revision

  • DP revision will be considered after six months after the last disbursement after grading of a group.

*Share Capital for regular members will be Rs. 100/- (upto Rs. 10.00 lac) and Rs. 500/- (above Rs. 10.00 Lac to Rs. 50.00 Lac).
*All loans are applicable to actual bank charges which include valuation, legal and all actual bank charges

To know more visit your nearest branch.