Manappuram Asset Finance

Why Choose Manappuram Micro Finance Loans?

Tailored for Women: Our micro finance loans are specifically designed to meet the unique financial needs of women, offering flexible terms and accessible repayment options.
Joint Lending Group Model: The Joint Lending Group model promotes solidarity and mutual support among women. By forming a group, members ensure each other’s success, fostering a sense of community and shared responsibility.
Financial Inclusion: We are committed to bridging the gap in financial inclusion. Our micro finance loans provide access to credit for women who might not have the collateral or credit history required by traditional lenders.

Key Features of Our Micro Finance Loans

Loan Amount: Flexible loan amounts tailored to the needs of each group member.
Interest Rates: Attractive interest rates to make borrowing affordable.
Repayment Terms: Convenient and flexible repayment schedules that align with the cash flow of borrowers.
No Collateral Required: Our loans are unsecured, making them accessible to all women.

How It Works

Form a Group: Gather a group of women who share common financial goals and aspirations. Each group should consist of 6 to 15 members of age from 18 to 55 years.
Apply for a Loan: Submit a joint loan application through our easy-to-navigate online portal or visit any of our branches.
Loan Disbursement: Once approved, the loan amount is disbursed to the group member, ensuring that each member has access to the funds they need.
Repayment: Repay the loan in easy installments. Our flexible repayment options are designed to fit your financial position.

Get Started Today

Empower yourself and your community. Join the Manappuram family and take the first step towards financial independence. Apply for a Micro Finance for Women today!

Charges

Interest Rate:
- 28% per annum
Processing Fee:
- 3% of Loan Amount
Penal Charge:
- 18% per annum (inclusive of GST)
Pre-Closure Charges: NIL

Frequently Asked Question

General Information Eligibility and Requirements Loan Details Application and Disbursement Process Repayment and Charges

Group Loans: Manappuram offers loans to groups of individuals, typically women, who support each other in repayment.

Manappuram occasionally runs special offers and schemes. It is advisable to check with the nearest branch or their official website for any ongoing promotions.

Generally, low-income individuals or households, particularly women, are eligible. Members of joint liability groups can also apply. Applicants must meet the age, income, and residency criteria set by the company.

The following documents are typically required:

Identity Proof: Aadhar card, voter ID, Driving License, Passport etc
Address Proof: Utility bills, ration card, rental agreement, etc.
PAN Card
Income Proof: Proof of income such as salary slips, bank statements, or income declaration.
Group Documents: For group loans, group formation documents and members' details.

The loan amount depends on the purpose of the loan and the applicant’s eligibility. Typically, microfinance loans range from small amounts to meet immediate needs to larger amounts for business purposes.

The loan tenure can range from a few months to a few years, depending on the loan amount and Loan schemes.

Manappuram Asset Finance Limited is offering a fixed interest rate for our Microfinance Loans. It is best to contact Manappuram Asset Finance Limited directly for the most accurate and attractive rates.

You can apply for a microfinance loan by visiting the nearest Manappuram Asset Finance Limited branch, through field officers who visit villages and communities, or by contacting their customer service.

Loan approval time can vary but typically ranges from a few hours to a few days, depending on the completeness of the documentation and the verification process.

Once the loan is approved, the amount is disbursed directly to the borrower’s bank account or as per the agreed terms.

The loan is repaid through Equated Monthly Installments (EMIs) or other agreed repayment schedules. Borrowers can choose to pay via electronic clearing service (ECS), or direct debit from their bank account.

Yes, Manappuram allows prepayment and foreclosure of microfinance loans

Missing an EMI payment can result in late fees, impact your credit score, and might lead to legal action if not resolved. It is important to inform the lender and work out an arrangement if you anticipate any payment difficulties.

MICRO FINANCE