Self Help Group Loan Agreement
An SHG is entitled to a maximum loan of 7,50,000 loans for loans transferred by other banks and for the cases of ICICI Bank, up to the limit of 10,00,000 SHGs linking banks through NGOs, for the opening of savings accounts and their credit needs. Banks lend credit to SGH after assessing their creditworthiness on parameters such as group discipline, regularity of meetings, savings, fund rotation, bookkeeping, group accounting, credit repayment, etc. The loan must be repaid within a maximum of 36 months. A new loan may be granted subject to compliance with the sanction criteria. Under the SBLP, 10 to 20 people are organized into groups known as SELF-help groups (SHG) of NGOs, commonly known as self-help organizations (SHPI). SGSs are also encouraged to engage in subsistence activities for which some NGOs offer qualifications. SHG members are encouraged to save money in an emergency and borrow in-house. SHP also offers knowledge on the management of account books. Self-help groups (SHGs) are a homogeneous group of 10-20 people who unite to save each other and help each other in an emergency. The members of the group work in subsistence activities such as operating a retail store, breeding, Zari`s work, sewing, making candles, art jewelry, etc.
Each individual saves a fixed amount each month. The Annual Percentage Rate (RPA) is a method of calculating the cost of annualized credit, which includes interest and processing fees. To calculate the same, click here to download the APR machine. The APR calculator does not contain fees such as stamp duty. The following documents must be retrieved/verified with SHG before the credit is extended: KYC Documents You can also return to the HOME page of the ICICI bank or the site plan. Our self help Group-Bank Linkage Programme (SBLP) aims to provide financial products and services to the part of the Indian population that does not have access to the formal banking system. This segment, often derived from lower incomes, meets its financial needs through informal sources such as money lenders, traders, family and friends, etc. However, these sources have their own limitations. Please try again after a while.
If the problem persists, please call our customer service numbers or file a claim.