Collective credit

Group loan (Savings)

Disciplined savings and joint credit for self-help and neighbourhood groups.

Brief introduction

A group loan built on savings suits self-help groups and small neighbourhood circles that already meet, save and keep a simple register. Credit is shared, so attendance, minutes and savings history matter as much as any one member's income.

Balaji Finance Pune helps the group secretary organise KYC, resolution copies and passbook records so the application looks as organised as the weekly meeting.

Apply for this loan
People collaborating as a group

Documents required

  • KYC of every member and office bearers
  • Group formation resolution and member list
  • Savings register or passbook for the last 6 months
  • Meeting minutes that record the loan request
  • Bank account proof in the group name where it exists
  • Photographs of office bearers
  • Address proof of the meeting place or lead member

Group habits we look for

  • Regular savings, even if the amount is small
  • Clear names of secretary, president and treasurer
  • Agreement on how EMI will be collected inside the group