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Features:
Tenors: Various tenors up to three years, depending on the product.
Repayment Frequencies: Weekly or monthly, based on customer cash flows.
Group Support: Joint liability of the customer's group members.
Family Loan:
Allows low-income women to avail loans to finance a range of family needs, including children's school expenses, medical care, house repairs and other housing expenses, social and religious obligations, consumer durables, and the repayment of high-cost debt previously taken for family needs. Loan sizes range from Rs. 6000 to Rs. 10000 and are charged an interest rate of 1.25% flat per month (26.9% p.a. declining).
Business Loan:
Gives self-employed women access to financing to suport their businesses, which can include selling fruits, vegetables, or flowers, running petty shops, tailoring, etc. The loans can be used to finance diverse business needs, including working capital, capital equipment, vocational training, or repaying high-cost debt previously taken for business needs. Loan sizes range from Rs. 6000 to Rs. 8000 in the first year and Rs. 12000 in the second year, and the rate of interest charged is 1.1% flat per month (24% p.a. declining).
Combo Loan:
Allows women to avail a loan, which can be used for a combination of family and business needs. The interest rate on these loans is 1.1% flat per month (24% p.a. declining).
Housing Loan:
Gives women access to financing to pay for rental deposits, lease amounts, or home improvements. Customers using this product are charged an interest of 1% flat per month (21.5% p.a. declining) for a one year loan and 1.1% flat per month (24% p.a. declining) for two and three year loans. A loan of Rs. 30000 can be taken by a customer in her second year of working with Ujjivan.
Emergency Loan:
Is designed to meet the unforeseen emergency requirements of customers and are disbursed within 24 hours.
Festival Loan:
Gives customers assistance in covering their festival expenses.
Top Up Loan:
Allows customers access to additional financing of 10-20% over their initial loan size, based on satisfactory credit history. The interest charged is for the purpose of the top up loan, not the original loan.
Life Insurance:
All Ujjivan customers benefit from complusory life insurance coverage offered through the Jeevan Bheema Scheme (Rs. 100 p.a.).
Health Insurance:
Ujjivan's Health Insurance provides customers with health services for primary, secondary, and tertiary health care, including free outpatient services at network hospitals and ARY clinic, diagnostic lab tests at discounted rates at network hospitals and ARY clinic, 1600 listed surgeries done free of cost at network hospitals, and medical hospitalization for 3 days (in one admission) per member per year. The annual Health Insurance premium is Rs. 120/person (if 4 or more family members join), Rs. 150/person (if 3 family members join), or Rs. 180/person (if 2 or less family members join).
Health Education Programs:
Biocon is training Ujjivan centre leaders in healthcare awareness programs relating to hygiene and sanitation, disease and illness, child nutrition, pre-natal/post natal-care, and HIV Aids, and is conducting workshops in Ujjivan Branch areas compensating these health educators per workshop. As they train people throughout slum areas on things like health and sanitation they are enabling them to become leaders in their slum areas.
Click here to meet some of Ujjivan's health workers.
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