Insurance
"Mangalam Vinayak Microfinance has a sociial vision and business orientation aims to provide underprivileged women with economic appartunities to trnansform the quality of their lives."
Termanology
Welcome to Mangalam Vinayak Microfinance
Mangalam Vinayak Microfinance is a registerd NBFC-MF which operate in a joint liability group landind model of Ourmeen.
Mangalam is an organization was set up in 2016.
Credit Policy
Mission
To provide offeradable & accessible banking services which are praces , tecnology enable and people oriented resulting in reliable . sustainable institution facilitating social economic change.
Vission
"To be trusted financial service provider to over 20 lakh customer by 2021."
Loan Policies
Mangalam Vinayak Group clients have to fulfil the fallowsing minimum qualification criteria.
(I) Only women
(II) Must be married
(III) Age of the clients
(A) First cycle loan : age should be from 21 to 55 years at the date of application of first cycle loan.
(B) Subsequent cycle loan : Age of the client should not be more than 59 years far the subequent cycle loan.
(IV) At least 3 years stay in the same location
(V) Family of the potential client has sound knowledge and understanding of bussiness for which loan is required.
Group Religibility Criteria.
(I) The centre should be start with minimum of 5 and maximum of 30 women with 5 members in each group.
(II) All members of the centre should be agreeable and willing to give guarantee of repayment of others members loans.
(III) No blood / kin relation shaill be in the same group condition (only one kin relation 15 members in a group)
15 M - 1 kin relation
20 M - 2 kin relation
25 M - 2 kin relation
30 M - 3 kin relation
(IV) Maximum of 10% of members in a center could be rental not more than 1 rental in any group.
Documents Requirement
Clients / Group members should be able to present any of the fallowing documents
(I) ID proof
Voter Card ,
Adhar card (UID),
Passport Driving Licence,Pan Card,MGNPGA Job Card
(II) Address Proof
Passport,Voter Card , Drivering Licance, Adhar Card, Bank Passbook
Note : Bank passbook with at least a transaction within a six month and photograph of the client is affixed on the bank pass book.
Electricity Bill (Not more than 2 month old)
Telephone Bill (Not more than 2 month old)
Any other domestic bill (Not more than 2 month old)
