Varam offers Group Loans through a Joint Liability Group (JLG) Product. A typical group would have 13-20 members who are given loans as per the credit bureau report and the need expressed by customers. Loans are for a period of 12 -24 months and repayable at monthly rests.
The Current rate of Interest charged to customers is 24.64% pa on a reducing balance basis with 1% processing fee.
1 st Cycle
2 nd Cycle
3 rd Cycle onwards
Any production activity such as Wet floor making, Garment stitching, masala making, canteen, Sea shell products making, wooden toys making, artificial gem ornaments making, bouquet making etc., that involve manufacture or processing value add come under this category.
These are loans meant for trading activities – any commodities purchased and sold as it is without any value addition. Examples are buying and selling of vegetables, fruits, rice, fish, saree, domestic goods and materials etc.
|Service Provider Loans
These loans are meant for service related activities such as running beauty parlour, catering services, housekeeping services etc., related to human
|Business Support Loans
These loans are meant to help income generation activity of any
|Top Up Loans