Welcome to Shagun Micro Finance Association

Loan Against Deposit
Type Code No. OF EMI Mode of Repayment Loan Amount EMI Amount [10,000] File Charges
Group Loan GL 100/200 Daily 10000 TO 50000 Per Member 110/60 [ 10000 - 25000 ] - 500
[ 25001 - 50000 ] - 1,000
Above 50000 - 2%
12/24 Weekly 950/480

Group Loan Terms & Conditions

  • Must be member of shagun micro finance association
  • Minimum 2 and maximum 10 members.
  • Guarantor should not be group member

General Terms & Conditions

  • One person can be guarantor in multiple loan subject to emi amount of all loans not exceeding his monthly income.
  • In case of default loans the guarantor will be liable for the recovery.
  • One person can apply for second loan after settlement of first loan.
  • Loan will be disbursed after deduction of file charges.
  • Person having un-settled loan cannot be a guarantor.
  • Any loan guaranted by this guarantor should not be default.
  • If any person applies for 2nd loan after sucessfully completing of 1st loan,No File Charge will be taken,only 2% Processing fee is applicable