Finance Companies in Naxalbari and Nearby Places

finance companies in naxalbari

Finance companies in Naxalbari, Plays an important role in the economic field in Naxalbari. Most of the finance companies in Naxalbari are the Microfinance companies. They provide loans to the needy peoples of Naxalbari and in surrounding places.

What is a Microfinance Comapny?

Microfinance also called microcredit​ companies. It is one type of banking service who provides benefits to unemployed or such low-income peoples or a group of peoples who do not have other access to financial services.

Microfinance Companies in Naxalbari is a very helpful method for those who have a low level of income, or who desperately need some amount of money for their small businesses like, farming, opening a vendor, or anything else.

How Much Loan the Microfinance Companies Provides?

The Microfinance Companies in Naxalbari provides a minimum loan amount of 10,000 to 5,00,000 Rs. The amount depends on the microfinance company and the relation between the customer and the company. Means, if the customer has taken a loan several times will be provided more loan amount than the new people, who recently joined the group.

What are the Condition of Taking Loan?

There are several conditions for taking a loan from a microfinance company in Naxalbari. For taking Loan from a microfinance company such as Bandhan, SKS, and L&T group is, You should be married and You must have at least 5 people of the group.

Yes, they do not give loans to the bachelors or any Individuals. Different companies have their own criteria for providing loans, so if you are an individual and you want to take a loan from these microfinance company, make sure you contact them first.

One more basic necessity for taking a loan is you must make a group of at least 5 peoples in your own village. Most of them do not provide a loan to an individual only, so make sure you must create a group and apply for a loan.

Microfinance Companies in Naxalbari

Many microfinance companies can and closed in Naxalbari. But there are some companies who came and provided a lot of benefits to the people of Naxalbari and still exist in Naxalbari. The detailed information of those Microfinance Companies is given below.

Bandhan Bank (Microfinance Company)

Bandhan was founded in 2001 for a Nobel cause which was to help the poor peoples and to improve women’s empowerment. You must know one thing about Bandhan microfinance that they believe in women spacially and provide loan spacially to the women. All the Bandhan’s microfinance activities such as giving loans and all are managed by Bandhan Financial Services Pvt. Ltd. (BFSPL).

This comes, and they truly follow the Companies Act, 1956 and also registered as a Non-Banking Financial Company (NBFC) with the Reserve Bank of India (RBI).

A monthly overview is given on their website, this is the data of 2015.

  • States & Union Territories- 22
  • Branches – 2,022
  • Borrowers – 67,17,331
  • Staff – 13,067
  • Loan disbursed for the month – Finance Companies in Naxalbari and Nearby Places 1 1,601 crores
  • Loan outstanding – Finance Companies in Naxalbari and Nearby Places 1 10,242crores

Official Website of Bandhan Microfinance

SKS Microfinance

For more than ten years, SKS microfinance has provided opportunities for poor families to gradually lift themselves out of poverty. Microfinance serves as an important foundation for broader development, which includes improvements in health, education and political participation.

Our members have proved that with every loan disbursed and every micro-insurance policy provided, they gain greater control of their lives and help fulfill SKS’ mission.

Different Kinds of Loan Provided By SKS Microfinance

  • Income Generation Loans (IGL) – Aarambh
  • Mid-Term Loan (MTL) – Vriddhi
  • Long Term Loan (LTL)
  • Biomass Cook-stove LoanSolar Light Loan
  • Water Purifier Loan
  • Mobile Phone Loan
  • Bicycle Loan
  • Sewing Machine Loan
  • Swarna – pushpam Gold Loan

Official Website of SKS Microfinance

L&T Microfinance Company

L&T Financial Services is very well known Microfinance company in Naxalbari. Many groups of women have been taken a loan from here. This microfinance company launched its Micro Loans operations in July 2008. They have started this company to help Indian women so that they would get a sustainable livelihood through micro unsecured loans. L&T Financial Services now becomes one of the leading providers of Micro Loans in India.

Eligibility and Documentation For Taking Loan in L&T Microfinance

  • Age Requirement: 20 years – 60 years
  • Documents: Income Proof, Aadhar Card, Voter’s ID card/Ration Card/MGNREGA Card

Key Features

  • Loan available up to Rs 45,000/-
  • Loan tenure up to 24 Months
  • Easy monthly repayment schedule
  • Financing without any collateral security
  • Fixed processing fee of 1%
  • Interest rate @ 24%*
  • Term loans through Joint Liability Group (JLG)

If there are more Finance Company in Naxalbari that we missed, Please Let us Know by Contacting Us

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