Self help group is a financial Intermediary committee usually consists of 10-20 local woman or men. A self help group may be registered or unregistered. It typically comprises of a group of micro entrepreneurs having homogeneous social and economic background who have voluntarily coming together to save some small amounts of money, mutually agreeing to contribute to a common fund and to meet their emergency needs. On the basis of the mutual help and understanding the group pools some money from their resources to become financially sound and stable by taking loans from the money collected by the group and making every body in that group self employed.

• Persons who want to avail loan must become a share holder of the society

Macs group loan scheme:

 Macs in order to up lift such a disadvantage and low income groups comprising of 10-20 local women, having homogense and having social and economic back ground, introduced the “Group loan Schemes”

Advantages of financing through group loans:

• An economically poor individuals  gives strength as part of a group
• Financing through the group reduces the transaction costs for lander as well as the borrowers
• Purpose: Income generating loans: for example: vegetables/diary/cloth etc.
• Period: 50 Weeks (12 months)
• Minimum amount: 10,000 per head
• Maximum amount: 50,000 per head
• Rate of interest 15% flat
• Repayment: weekly basic
• Process charges: Rs.690/- per 10,000

Eligibility: 

• All Individuals who are the owners of the gold ornaments
• Persons who want to avail loan must become a share holder of the society.

Nature of Facility

• Demand loans against gold ornaments

Purpose: 

• Any purpose other than speculative purpose 

Amount Eligibility: 

• Minimum Limit: 10,000/-
• Maximum Limit: 5-Lacs. 

Margin:

Advance against gold coins/Gold ornaments/Jewelry will be 25% of the total gold value (i.e loan to value not exceeding 75%) 

• Repayment:12 Months
• Documentation & Processing Charges: Rs.550/-