Purpose : To meet the working capital, asset and cattle purchase needs of income generation activities carried out by the member or her family.
Eligibility : Prior Credit history with Arriba
Age : The borrower and her spouse age should be 18 – 60 years
Loan Sizes : Minimum ₹40,000 – Maximum ₹85,000 (In multiples of ₹5,000/-)
Loan Tenure : 12 / 18 / 24 months
Repayment Frequency : Fortnightly/Monthly
Rate of Interest (Reducing basis) : 25% per annum
Loan Processing Fees : 2.3% of the loan amount + GST
Collateral : No collateral required
Prepayment Charges : No prepayment charges
In the event of death of the borrower or spouse, a sum of ₹5,000 will be paid directly to the other surviving member (borrower/spouse) upon the submission of the death certificate of the deceased person and bank details of the surviving member (along with passbook). The balance outstanding amount for such a loan will be waived upon the receipt of the above-mentioned documents.