How Microfinance Banks Empower Women and Create Opportunities

Microfinance is a financial service that is provided to low-income households to help them access formal banking services. These communities are often excluded from the opportunities of the traditional banking system. Chaitanya is a microfinance bank in Bihar that provides financial services like loans to people in underprivileged areas of India, especially to women. Through group loans and retail loans, we focus on improving the lives of women in rural areas to help them become financially independent.

We Provide

We help women access group loans by forming joint liability groups (JLGs). This focuses on helping women from extremely low-income families access financial assistance of up to 80,000 rupees. With our group loans, they don’t have to depend on family members for financial support to start their business.

Retail Loans

As a microfinance company in India, we provide retail loans to people to help them improve their lives. This loan is provided to women who are from lower middle class to middle class families for personal, household, and business purposes as well. Women can avail up to 5,00,000 rupees with retail loans.

How Microfinance Lending Works: A Detailed Overview

We offer financial services to women who live in the rural parts of India. Chaitanya provides a stable source of income with our various financial products. This helps them access proper financial services which are not provided to them at a traditional bank. In our micro finance lending in Bihar, we form a joint liability group (JLG) and provide training for our clients on various financial aspects. Once we conduct a quality check, we disburse the loan to the group and collect the repayment on a weekly, biweekly, or monthly basis.

Exploring the Advantages of Group Microfinance Lending

Providing micro loans to women in rural areas helps them overcome poverty. This leads to financial inclusion of underprivileged families in remote areas of India. Chaitanya provides microfinance group loan in Bihar that allows women access small amount of loans with flexible repayment options. This loan can be accessed with no security and minimal interest rate. We help women achieve a a higher social status in their communities.

Frequently Asked Questions

Microfinance has many benefits for communities in Bihar. It supports low-income families by providing an opportunity to start their own businesses and get a stable income source.
Microfinance is beneficial for businesses in rural areas of India like general store, farming, tailoring, and much more. Small businesses from rural areas greatly benefit from micro loans.