Self Help Group Finance

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Self Help Group Finance
Self Help Group Finance
ICICI Bank extends easy and quick finance to Self Help Groups (SHG) to suit all their requirements. ICICI Bank's Self Help Group Finance is made available to the SHGs formed by Self Help Promoting Institutions (SHPI). The SHPIs are hand-picked by ICICI Bank through our RMAs. ICICI Bank's Self Help Group Finance is to be launched on pan India basis.

The ICICI Bank Edge for Self Help Groups (SHG)

  • SHG is not required to have a Savings account with ICICI Bank to avail credit linkage or loan

  • Convenient loan repayment options: Post Dated Cheques/ECS/Auto Debit

  • Maximum loan amount is Rs.2,00,000

  • Tenure from 6 months up to 24 months with a principal moratorium of 3 months

  • Repayment is in equated monthly instalments; EMI may be paid through post- dated cheques, ECS or auto debit facility

  • Loan as per the credit need of SHG based on SHPI recommendation not limited to savings multiple

  • Attractive interest rates with special discounts to SHG for loans for agri and agri-allied purposes

  • No prepayment and foreclosure charges to SHG.

  • Faster loan processing

The ICICI Bank Edge for Self help promoting Institutions (SHPI)
  • SHPI receive a fee of up to 1.5% of the total loan repayment on successful loan completion for services rendered, irrespective of number of SHG credit linked.

  • Dedicated Relationship Manager for the SHPI

  • SHPI role limited to facilitation – no risk due to cash handling by SHPI like in MFI functioning

  • No financial guarantee / deposit required from SHPI