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Our Product

Our product offering under the “SARAL” category is extremely simple considering the challenges of evaluating the income generation opportunity of our borrowers. After detailed analysis, we decided to offer vanilla microfinance products for women entrepreneurs within the JLG (Joint Liability Group) model. Apart from loans for income generation, JAGARAN also provides small loans for the education of the children of the borrowers’ families under the SHIKSHA (INR 5000 & 10000) Loan category. These loans are provided to fulfil school fees, purchase books and stationery for the wards.Jagaran started Solar Energy Funding (solar energy run lamps) for our poor women clients living in rural and semi urban areas of Bihar, Jharkhand, Odisha& West Bengal. In case of an emergency, Jagaran also offers EMERGENCY(INR 6000,12000& 16000) loan product to its borrowers. Typically, the maximum product tenure is 52 weeks. Disbursement is carried out at branches while collection happens at the centres. We offer support for a range of livelihoods but our focus is mostly on agriculture and allied activities. The rate of interest is in line with the guidelines issued by the Reserve Bank of India from time to time and on a reducing balance basis. The borrowers have the choice to repay the loans on a weekly, fortnightly or monthly rests. Charges are as defined by the Reserve Bank of India and consist only of Processing Fees of 1%. There are no hidden charges. Complete transparency is maintained with the borrowers. We also provide pass books free of cost. Terms of the loan and all necessary information is provided in the pass book. With respect to Insurance of borrowers, only the cost of Insurance is recovered from the borrowers. We cover the borrower and co-borrower to the extent of the amount lent for life as well as Total or Partial Permanent Disability.

Product Name Purpose Loan Amount Tenure Loan Processing (Free) Security Interest Rate(Reducing)
BanksSaral-10000 to Saral 30000 Financial InstitutionsIncome Generation AssociatesINR 10000 to 30000 Associates50 WEEKS & 51 WEEKS Associates1% AssociatesNIL Associates25.30% pa
BanksShiksha-5000 & Shiksha 10000 Financial InstitutionsEducation AssociatesINR 5000 & 10000 Associates47 WEEKS Associates1% AssociatesNIL Associates25.61% pa
BanksEmergency 16000, 12000 & 16000 Financial InstitutionsEmergency AssociatesINR 5,000, 6,000 & 10,000 Associates50 WEEKS Associates1% AssociatesNIL Associates25.83% p.a.
BanksSolar Home 60 & Solar Pro-2 Financial InstitutionsEnergy Funding AssociatesINR 4,999 & INR 2,399 Associates24 WEEKS Associates1% AssociatesNIL Associates25.61% & 25.74% resp.

Current Out Reach

Key Operational Statistics as on 31st March 2017

Gross Loan Portfolio (Rs. Cr.)

148.06

BC Portfolio (From IDBI Bank)(Rs. Cr.)

22.02

No. of States

4

No. of districts

25

No. of Branches

88

No. of Active members

1,77,221

Average Loan Size disbursed During FY 16-17 (INR)

17,799

Average O/S Loan (INR)

9,064

Regular Repayment Rate

99.36%

Number of Employees

484

Rating & Grading

Jagaran has been awarded Grade S3 (Good) as Social Rating by M2I in 2016 (a renowned Social Rating agency).

It has received Grading “AA” in Code of Conduct Assessment (COCA) conducted by ACCESS-ASSIST in 2016

CARE Ratings assigned a grading ‘MFI 2’ in 2016 and Bank Loan rating “BBB-“ in2016 (Triple B Minus) to Jagaran.

CRISIL awarded a BLR rating of ‘BB+’(Stable) to Jagaran on January 2015.

Jagaran received Skoch Order-of-Merit award in September 2016.

Our Philosophy

Service Excellence: Provide unfailing service at the right place and at the right time.

Product Offering: Listen to the market and offer practical solutions.

Support and Guidance: Understand problems and assist members whenever required.

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