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Key Features of Our Micro Loans

  • Loan Amount: Up to ₹50,000, tailored to meet the specific financial needs of individuals or small businesses.
  • Flexible Tenure: Repayment periods ranging from 6 months to 2 years, providing flexibility in managing your finances.
  • Competitive Interest Rates: Starting from as low as 12% p.a., making the loan affordable and accessible.
  • Minimal Documentation: Simple and quick application process with fewer paperwork requirements.
  • Fast Disbursement: Funds are disbursed quickly, often within 24 hours of approval, helping you meet urgent needs.
  • No Hidden Charges: Transparent and clear terms with no additional or hidden fees.
  • Loan for Personal & Business Use: Loans available for personal emergencies or small business growth, such as inventory purchase or working capital.
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Who We Are

Types of Micro Loans We Offer

  • Personal Micro Loan: For individuals seeking quick financial relief for personal emergencies like medical expenses, education fees, or home repairs.
  • Business Micro Loan: For small business owners who need working capital or funds to purchase inventory, equipment, or other necessary resources for their business.
  • Agricultural Micro Loan: Designed for farmers and agricultural workers to purchase seeds, fertilizers, equipment, or cover other farming-related expenses.
  • Women Empowerment Micro Loan: Tailored for women entrepreneurs and self-employed women to support small business ventures, skill development, or income-generating activities.

Eligibility Criteria for Micro Loans

To qualify for a Micro Loan, whether you are salaried, self-employed, or a small business owner, you must meet the following criteria:

  • Age: 18 to 60 years.
  • Income: Stable monthly income (minimum ₹8,000 for salaried individuals and ₹10,000 for self-employed individuals).
  • Credit Score: A credit score of 600+ is preferred, but some institutions may consider your income and repayment capacity instead.
  • Salaried Individuals: Must have a stable income from a government or private sector job.
  • Self-Employed Individuals: Must have a stable business or income source for at least 1 year.
  • Loan Amount: Based on your income and the loan purpose.

Documents Required for Micro Loans

The documents required for a Micro Loan are simple and minimal:

  • KYC Documents: PAN Card, Aadhar Card, Passport, or Voter ID.
  • For Self-Employed Individuals: Last 6 months bank statements or proof of business income.
  • Bank Statements: Last 3-6 months, to verify financial stability.
  • Residence Proof: Utility bills, rental agreement, or government-issued documents.
  • Loan Purpose: A brief description of how you intend to use the loan, especially for business-related loans.
  • Credit Score Report: A recent credit score report to assess creditworthiness.

Why Choose Login to Loans for Your Micro Loan?

  • Quick and Easy Processing: Fast loan approval with minimal documentation to help you meet your financial goals quickly.
  • Affordable Interest Rates: Starting from just 12% p.a., ensuring low repayment amounts.
  • Flexible Loan Tenure: Choose a repayment period that suits your budget, from 6 months to 2 years.

How to Apply for a Micro Loan?

  • Step 1: Check your loan eligibility online or visit our nearest branch.
  • Step 2: Submit the required documents for verification and specify the purpose of the loan.
  • Step 3: Get approval for your loan and finalize the terms.
  • Step 4: Receive the funds directly in your bank account or as per the loan agreement, typically within 24 hours.
Conclusion:

Micro loans are an essential financial tool that empowers small businesses, entrepreneurs, and individuals who may not qualify for traditional bank loans. By providing access to small amounts of capital, micro loans promote self-employment, job creation, and economic development, especially in rural and low-income areas. These loans help bridge the financial gap for those with limited credit history or collateral.
However, micro loans often come with higher interest rates, shorter repayment periods, and stricter lending terms due to the increased risk for lenders. Borrowers must carefully evaluate their ability to repay, use funds efficiently for income-generating activities, and maintain financial discipline.