Presently, Sarwadi Finance offers group loans only.

Loan Size: Rs 15,000 to Rs 50,000 (min. 15,000 and max. Rs 30,000 for 1st cycle)
Interest Rate: 26.50% p.a. on reducing balance w.e.f. 3rd Quarter, 2021-2022

Maximum interest rate	Minimum interest rate	Average interest rate
26.5% p.a. (Reducing)	26.5% p.a. (Reducing)	26.5% p.a. (Reducing)

Processing Fee: 1st Year - 1.5% and 2nd Year - 2% of the loan amount plus tax
Loan Tenure: 12 to 24 months (complies with RBI guidelines)
Description: This loan is given to a group of 5 to 15 women members who carry out small business activities.

Insurance
In the unfortunate event of natural or accidental death of the customer during the loan tenure, the insurance amount helps the nominee/beneficiary to pay off the outstanding loan and receive the surplus assured amount. We have partnered with Kotak life to offer a Micro Insurance policy at affordable cost. It is a Pure Term Plan with no Maturity benefits. On the death of the life assured, the beneficiary will get the Sum Assured.

The general eligibility criteria for availing the loans are listed below:

• Only women borrowers are eligible
• The borrower must be a member of a Joint Liability Group (JLG)
• The borrower must have an active bank account
• Household Annual Income of the borrower should not exceed Rs. 1,00,000/- or Rs. 1,60,000/- in rural area and non-rural area respectively
• Disbursement of the loan amount has a maximum limit of Rs. 50,000/-
• Loan should not exceed Rs. 25,000/- in the first cycle
• Total indebtedness of the borrower should not exceed Rs. 1,00,000/-

The other key features of the loan products are:

• The loans are disbursed directly in the customers bank account.
• No penalty is charged for delayed payment.
• Borrower and Co-borrower (family member) are covered under insurance.
• Prepayment of the loans are allowed without penalty.
• Loans are granted without any collateral.
• Loans are repayable by fortnightly or monthly instalments at the choice of the borrower/group.