Jana Small Finance Bank Loan

Jana Bank Loan Eligibility Criteria

Knowing the Jana Bank Loan eligibility is important before you apply. However, the different loans have different eligibility criteria. Given below are the different loan types along with their eligibility criteria:

Group Loan Eligibility

• The applicants must fulfil KYC documentation requirements.
• Must be between 18 and 58 years.
• Must not have an adverse credit record.
• Must meet the acceptable credit norms according to Jana Small Finance Bank.
• Must be part of a group of customers willing to guarantee each other's loan repayment.

Agri Individual Loan Eligibility

• The loan is eligible for existing customers of Jana Small Finance Bank and new customers engaged in agricultural activities.
• Applicants must have resided in their current village or city for at least 2 years and possess an agricultural setup.

Home Improvement Loan Eligibility

• For existing customers of Jana Small Finance Bank of 12 months and more.
• Must own a house.

Agri Group Loan Eligibility

• Applicants must be existing Jana Small Finance Bank loan customers with a minimum of 6 months of account history.
• Customers with at least 3 group members involved in agricultural activities, residing in the same village.
• Applicants must have lived in their current village or city for at least 2 years and possess an agricultural setup.

Documents Required for Jana Small Finance Bank Loan

To apply for a Jana Bank personal loan, there are certain documents that need to be submitted. Given below are the different documents required to be submitted when applying for the different loans:

• Primary document required: Aadhaar Card
• Secondary document: PAN Card or Form 60.

If you do not have PAN card: you can submit Form 60 along with any one of the following valid documents:

• Passport
• Voter ID
• Driving Licence
• NREGA (National Rural Employment Guarantee Act)
• Letter issued by the National Population Register which includes name and address.
• Residence Proof: KYC documents and Utility Bills not more than 60 days old.

Types of Jana Small Finance Bank Loan

Jana Small Finance bank personal loan offers a wide range of loan products that will help you meet your diverse financial requirements. Whether you need a loan for agriculture, wedding, to improve your home or to get funding as a group, Jana bank will offer you the right financial solutions with favourable terms. Here are the different loan types offered by Jana Small Finance Bank along with their features:

Group Loan

Jana bank group loan is a loan offered to women who are willing to act as guarantees for each other. Thereby helping them meet their financial requirements. Here are the features that are offered by the loan:

• Loan Amount: Women can get loan amounts of ₹15,000 to ₹ 50,000, providing flexibility to cover various financial requirements.
• Age of Applicant: The applicants must be between 18 to 58 years old.
• Loan Tenure: The loan tenure extends up to a maximum of 24 months, making repayment affordable.
• Security: The loan requires a group guarantee, which encourages mutual support and responsibility among group members.
• PProcessing Fee: The processing fee ranges from 0 to 2% with applicable GST.
• Interest Rates: The interest rate for the loan ranges from 22% to 26% p.a.

Agri Individual Loan

Agri Individual loan is a loan to help meet the finances of farmers and those in the agriculture business to maintain or expand their set-up. Here are the main features of the loan:

• Loan Amount: The loan amount ranges from ₹ 30,000 to ₹ 1.5 lakhs.
• Insurance Facility: The loan includes a credit life insurance facility, which provides financial security to you and your families.
• Doorstep Banking Service: From onboarding and loan disbursement to collection of documents and other services, the bank offers the convenience of banking services delivered right to your doorstep.
• Security: The loan requires a group guarantee, which encourages mutual support and responsibility among group members.
• Attractive Interest Rates: The interest rates offered are competitive ranging from 19% to 26% p.a.
• Loan Tenure: Enjoy a flexible repayment tenure ranging from 12 to 36 months.

Home Improvement Loan

If you need to renovate your home, buy new furniture, or improve the rooms in your house, you can get a home improvement loan. This loan will assist you with the necessary funding to get a new feel in your own home. Here are the features of the loan:

• Loan Amount: The loan amount ranges from ₹ 30,000 to ₹ 1.25 lakhs.
• No Collaterals Required: You do not need to pledge or provide any collateral, making the loan accessible and hassle-free.
• Loan Disbursement into Account: The loan amount is directly disbursed into your account.
• Collections Through NACH: Loan repayments are easily collected through the National Automated Clearing House (NACH), ensuring an automated collection process.
• Attractive Interest Rates: Enjoy affordable interest rates ranging from 19.99% - 28% p.a.

Agri Group Loan

The agri group loan offers funding to those in the dairy, farm business and allied agriculture activities. Here are the features of the loan:

• Collateral-Free Loan Amount: The loan amount ranges from ₹ 30,000 to ₹ 75,000.
• Membership: The loan can be taken by a group of people consisting of a minimum of 3 members up to 25 members.
• Credit Life Insurance: The loan also offers financial security for the individual borrowers within the group.
• Doorstep Banking Service: The bank provides doorstep service at every stage of the loan process, including onboarding, loan disbursement, collection, and servicing. Helping the borrowers focus on their agricultural activities without the hassle of frequent bank visits.
• Competitive Rates: Borrowers can enjoy attractive interest rates ranging from 22% to 26% p.a.
• Flexible Repayment: The loan offers a flexible repayment tenure of 12 to 24 months.

Steps to Apply For Jana Small Finance Bank Loan

Jana Small Finance Bank offers you an easy and convenient way to apply for a loan with them. There are three ways by which you can apply for the different loan types. Here they are:

1. You can visit the bank branch, and apply for the loan with the help of the bank representatives.
2. You can contact customer care service at 1800 2080, and they will fix a service appointment with their relationship manager who will assist you with the application process.
3. You can also contact customer care service for a doorstep service appointment and an executive will come to your home to assist you with the loan application.

Want to know more? You can check out more on different types of loans in the table below: