Midland Microfin Limited

First Microfinance Institution
of the Region

05:42 PM Friday, 12 April 2024

1800 137 0600

Toll Free
* 9:00 AM to 5:30 PM

Midland Microfin Limited

First Microfinance Institution of the Region

1800 137 0600 Toll Free * 9:00 AM to 5:30 PM

Our Work

  • Area of Operation


    MML has scripted its legacy over the past one decade and the institutions geographic footprint spans over 12 States and 2 Union Territories with 415 branches. This footprint now extends from Punjab to Himachal Pradesh, Haryana to Jammu & Kashmir, touching lives in Bihar, Gujarat, Jharkhand, Odisha, Uttar Pradesh, Madhya Pradesh, Uttarakhand, West Bengal, and Chandigarh.

  • Loan Products


    Micro Enterprise Loans

    We encourage entrepreneurship amongst women as sustainable source of livelihood by providing business loans for working capital. Business Loans give the economically active women access to finance in order to support their micro enterprises. Members use this to cater to their diverse business needs such as tools and equipment purchase, stock purchase, working capital etc.

    Business Loan
    (Joint Liability Group Category)
    Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency
    Upto 24 Months 11,000- 70,000 At actuals 25.50% 1% on PF & applicable GST Lunar
    Individual Loan
    ( Dairy & Udaan Loan)
    Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency
    Upto 24 Months 60000-150000 At actuals 28.00% 1%  PF + applicable GST Monthly
    Credit Plus Products Loan
    Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency
    Upto 18 Months 1399/2300/3699/9600 At actuals 26.00% 1%  PF + applicable GST Lunar
    Education Loan
    Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency
    Upto 12 Months 11,000 – 20,000 At actuals 26.00% 1.50 % on PF & applicable GST Lunar
    Wash Loan
    Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency
    Upto 24 Months 11,000 – 30,000 At actuals 26.00% 1.50 % on PF & applicable GST Lunar
    MEL
    Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency
    24-36 Months 150,000 – 300,000 At actuals 28.00% 1.50 % on PF & applicable GST Monthly

     

    Lending Rates Charged On Microfinance Loans
    Microfinance loan – Product name Minimum Interest Rate* (%) Maximum Interest Rate* (%)  Average ROI Quarter ended December 31, 2023 (%) Average Processing Fees   (%   of the       loan) ROI Effective from
    Business Loan 25.50% 25.50% 25.50% 1% 01-Jun-22
    Credit Plus Product 25.50% 25.50% 25.50% 1% 01-Jul-23
    Wash Loans 25.50% 25.50% 25.50% 1% 01-Aug-22
    Product Wise Average Lending Rate of Last Quarter Ending Dec 2023
    All microfinance loans          
    (To reflect          all types of loans)
    Minimum Interest Rate* (%) Maximum Interest Rate* (%)  Average ROI Quarter ended December 31, 2023 (%) Average Processing Fees   (%   of the       loan)
    All Microfinance Loans 25.50% 25.50% 25.50% 1%
    Non Microfinance Loans Minimum Interest Rate* (%) Maximum Interest Rate* (%)  Average ROI Quarter ended December 31, 2023 (%) Average Processing Fees   (%   of the       loan) ROI Effective from
    Individual Loan 26.00% 26.00% 28.00% 1% 01-Jan-2

    4
    Note: The Company does not collect any penal interest/charges from its borrowers for delay payment or for pre-closing their loans.

  • Insurance Services


    Midland endeavours to safeguard its members and their families, even in the face of life’s uncertainties. In case of an unfortunate event, our insurance coverage not only ensures financial recovery but also provides a pivotal support to their families.

    Midland Microfin provides carefully curated insurance options and has strategically placed itself with top-tier insurance providers, including HDFC Life and Kotak Life for life insurance coverage, as well as Future Generali, Acko, ICICI Lombard, Niva Bupa, and SBI General for general insurance solutions. This collaboration empowers us to extend accessible life insurance options to our borrowers and their spouses at exceptionally affordable premiums. With HDFC Life and Kotak Life as our esteemed life insurance partners, we deliver comprehensive coverage, ensuring the financial security of our clients and their families during unforeseen circumstances.

    These strategic affiliations underscore our commitment to providing our valued customers with dependable and extensive insurance choices tailored to their unique needs. Furthermore, in adherence to the Reserve Bank of India’s guidelines, we transparently convey the chargers incurred by members and their spouses. The financial security of our members is our top priority, and we are determined to provide world class services and experiences to our clients.

  • Operational Highlights


    As on June 30, 2023

     

    States & UT 12&2
    Districts                                                                                        187
    Villages Covered                                                                                   46,877
    Branches                                                                                        376
    Joint Liability Groups                                                                                 140,142
    Active Borrowers                                                                                 735,226
    Total Borrowers                                                                             1,573,414
    No. of Centers                                                                                 116,748
    Maximum Loan Amount                                                                                 150,000
    Average Ticket Size                                                                                   41,237
    Cumulative Loan Disbursement (Rs.)  ₹73,39,85,57,648.00
     $89,50,45,499.50
    Loan Disbursed in FY 23-24 (Till June 30,2023) (Rs.)  ₹3,38,93,23,785.00
     $4,13,30,498.82
    Loan Outstanding (Rs.)  ₹19,00,09,51,411.00
     $23,17,03,681.81
    Loan End Use Verification 1
    Equity Share Capital  ₹45,57,01,620.00
     $55,56,971.38
    Preference Share Capital  ₹12,06,50,000.00
     $14,71,244.71
    Preference Share Capital-CCPS  ₹41,57,33,850.00
     $50,69,591.60
    Total Assets  (Rs.)  ₹19,19,02,02,779.00
     $23,40,11,473.55
    Total Staff                                                                                     3,567

     

  • Customer Testimonials



    PARAMJIT KAURMember Name : Paramjit Kaur W/o Varinder Singh

    R/o Village Jarkhar Distt. Ludhiana
    I am associated with Midland Microfin Limited from last 3years. I have taken loan of Rs. 15000/- two times from Midland Microfin Limited. I took the loan for Business Expansion. I am very happy and now I earn good amount and is able to fulfil all my needs.

    USHA RANIMember Name : Usha Rani W/o Lt. Ashok Kumar
    R/o Gandhi Basti Distt. Faridkot.
    I am associated with Midland Microfin Limited from last 2years. After The death of my husband I decided to start my own business of stitching clothes and for that purpose I needed money. At that time I took loan from Midland Microfin Limited for starting my business and I am thankful to Midland Microfin Limited who helped me in the time of my need. Now I have good income and can take care of my family.

    SITA DEVIMember Name : Sita Devi w/o Sanjay
    R/o Pathana Mohalla Panipat
    I used to sell Bed sheet, Pillow covers and other covers by making designs on them. I took loan from Midland Microfin Limited and invested the same in my business. It helped me to expand my business. I want Midland Microfin Limited to provide loan to other people like me so that they can also grow their business. I am very thankful to Midland Microfin Limited.

    GITAMember Name : Gita w/o Jagdish
    R/o village Rahda Distt. Assandh
    I took loan from Midland Microfin Limited to expand my stitching business, it not only helped my business to grow but also increased my self-confidence. I wish to stay connected with Midland Microfin Limited in future as well so that I can further grow my business. Now I can fullfill the needs of my family, growth in business has helped improve the financial condition of our family.

Area of Operation


MML has scripted its legacy over the past one decade and the institutions geographic footprint spans over 12 States and 2 Union Territories with 415 branches. This footprint now extends from Punjab to Himachal Pradesh, Haryana to Jammu & Kashmir, touching lives in Bihar, Gujarat, Jharkhand, Odisha, Uttar Pradesh, Madhya Pradesh, Uttarakhand, West Bengal, and Chandigarh.

Loan Products


Micro Enterprise Loans

We encourage entrepreneurship amongst women as sustainable source of livelihood by providing business loans for working capital. Business Loans give the economically active women access to finance in order to support their micro enterprises. Members use this to cater to their diverse business needs such as tools and equipment purchase, stock purchase, working capital etc.

Business Loan
(Joint Liability Group Category)
Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency
Upto 24 Months 11,000- 70,000 At actuals 25.50% 1% on PF & applicable GST Lunar
Individual Loan
( Dairy & Udaan Loan)
Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency
Upto 24 Months 60000-150000 At actuals 28.00% 1%  PF + applicable GST Monthly
Credit Plus Products Loan
Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency
Upto 18 Months 1399/2300/3699/9600 At actuals 26.00% 1%  PF + applicable GST Lunar
Education Loan
Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency
Upto 12 Months 11,000 – 20,000 At actuals 26.00% 1.50 % on PF & applicable GST Lunar
Wash Loan
Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency
Upto 24 Months 11,000 – 30,000 At actuals 26.00% 1.50 % on PF & applicable GST Lunar
MEL
Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency
24-36 Months 150,000 – 300,000 At actuals 28.00% 1.50 % on PF & applicable GST Monthly

 

Lending Rates Charged On Microfinance Loans
Microfinance loan – Product name Minimum Interest Rate* (%) Maximum Interest Rate* (%)  Average ROI Quarter ended December 31, 2023 (%) Average Processing Fees   (%   of the       loan) ROI Effective from
Business Loan 25.50% 25.50% 25.50% 1% 01-Jun-22
Credit Plus Product 25.50% 25.50% 25.50% 1% 01-Jul-23
Wash Loans 25.50% 25.50% 25.50% 1% 01-Aug-22
Product Wise Average Lending Rate of Last Quarter Ending Dec 2023
All microfinance loans          
(To reflect          all types of loans)
Minimum Interest Rate* (%) Maximum Interest Rate* (%)  Average ROI Quarter ended December 31, 2023 (%) Average Processing Fees   (%   of the       loan)
All Microfinance Loans 25.50% 25.50% 25.50% 1%
Non Microfinance Loans Minimum Interest Rate* (%) Maximum Interest Rate* (%)  Average ROI Quarter ended December 31, 2023 (%) Average Processing Fees   (%   of the       loan) ROI Effective from
Individual Loan 26.00% 26.00% 28.00% 1% 01-Jan-2

4
Note: The Company does not collect any penal interest/charges from its borrowers for delay payment or for pre-closing their loans.

Insurance Services


Midland endeavours to safeguard its members and their families, even in the face of life’s uncertainties. In case of an unfortunate event, our insurance coverage not only ensures financial recovery but also provides a pivotal support to their families.

Midland Microfin provides carefully curated insurance options and has strategically placed itself with top-tier insurance providers, including HDFC Life and Kotak Life for life insurance coverage, as well as Future Generali, Acko, ICICI Lombard, Niva Bupa, and SBI General for general insurance solutions. This collaboration empowers us to extend accessible life insurance options to our borrowers and their spouses at exceptionally affordable premiums. With HDFC Life and Kotak Life as our esteemed life insurance partners, we deliver comprehensive coverage, ensuring the financial security of our clients and their families during unforeseen circumstances.

These strategic affiliations underscore our commitment to providing our valued customers with dependable and extensive insurance choices tailored to their unique needs. Furthermore, in adherence to the Reserve Bank of India’s guidelines, we transparently convey the chargers incurred by members and their spouses. The financial security of our members is our top priority, and we are determined to provide world class services and experiences to our clients.

Operational Highlights


As on June 30, 2023

 

States & UT 12&2
Districts                                                                                        187
Villages Covered                                                                                   46,877
Branches                                                                                        376
Joint Liability Groups                                                                                 140,142
Active Borrowers                                                                                 735,226
Total Borrowers                                                                             1,573,414
No. of Centers                                                                                 116,748
Maximum Loan Amount                                                                                 150,000
Average Ticket Size                                                                                   41,237
Cumulative Loan Disbursement (Rs.)  ₹73,39,85,57,648.00
 $89,50,45,499.50
Loan Disbursed in FY 23-24 (Till June 30,2023) (Rs.)  ₹3,38,93,23,785.00
 $4,13,30,498.82
Loan Outstanding (Rs.)  ₹19,00,09,51,411.00
 $23,17,03,681.81
Loan End Use Verification 1
Equity Share Capital  ₹45,57,01,620.00
 $55,56,971.38
Preference Share Capital  ₹12,06,50,000.00
 $14,71,244.71
Preference Share Capital-CCPS  ₹41,57,33,850.00
 $50,69,591.60
Total Assets  (Rs.)  ₹19,19,02,02,779.00
 $23,40,11,473.55
Total Staff                                                                                     3,567

 

Customer Testimonials



PARAMJIT KAURMember Name : Paramjit Kaur W/o Varinder Singh

R/o Village Jarkhar Distt. Ludhiana
I am associated with Midland Microfin Limited from last 3years. I have taken loan of Rs. 15000/- two times from Midland Microfin Limited. I took the loan for Business Expansion. I am very happy and now I earn good amount and is able to fulfil all my needs.

USHA RANIMember Name : Usha Rani W/o Lt. Ashok Kumar
R/o Gandhi Basti Distt. Faridkot.
I am associated with Midland Microfin Limited from last 2years. After The death of my husband I decided to start my own business of stitching clothes and for that purpose I needed money. At that time I took loan from Midland Microfin Limited for starting my business and I am thankful to Midland Microfin Limited who helped me in the time of my need. Now I have good income and can take care of my family.

SITA DEVIMember Name : Sita Devi w/o Sanjay
R/o Pathana Mohalla Panipat
I used to sell Bed sheet, Pillow covers and other covers by making designs on them. I took loan from Midland Microfin Limited and invested the same in my business. It helped me to expand my business. I want Midland Microfin Limited to provide loan to other people like me so that they can also grow their business. I am very thankful to Midland Microfin Limited.

GITAMember Name : Gita w/o Jagdish
R/o village Rahda Distt. Assandh
I took loan from Midland Microfin Limited to expand my stitching business, it not only helped my business to grow but also increased my self-confidence. I wish to stay connected with Midland Microfin Limited in future as well so that I can further grow my business. Now I can fullfill the needs of my family, growth in business has helped improve the financial condition of our family.

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