First Microfinance Institution
of the Region
11:54 AM Monday, 05 June 2023
1800 137 0600
Toll Free
* 9:00 AM to 5:30 PM
First Microfinance Institution of the Region
1800 137 0600 Toll Free * 9:00 AM to 5:30 PM
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Area of Operation
Area of Operation and Branch Network
At present the area of Operation of Midland Microfin is Punjab,Chandigarh ,Haryana ,Rajasthan,Uttar Pradesh,Bihar,uttarakhand,Himachal Pradesh,Jharkhand,Gujarat and Madhya Pradesh . Midland Microfin is having 253 branches in Punjab,Chandigarh,Haryana,Rajasthan,Uttar Pradesh,uttarakhand,Bihar,Himachal Pradesh,Jharkhand,Gujarat and Madhya Pradesh.
In the next financial year the area will be expanded to the states of odisha Apart from opening more branches in Punjab,Chandigarh,Haryana,Rajasthan,Uttar Pradesh,Bihar,uttarakhand, Himachal Pradesh,Jharkhand,Gujarat and Madhya Pradesh .Thereafter it is proposed to be expanded to entire India and nearby countries.
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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 Digital 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 -
Insurance Services
We provide insurance cover to the members in case of death not only to ensure recovery but also to provide support to the family, which drastically reduces risk for the poor. The insurance amount serves protection of credit and support to the borrower’s family. The mandatory life insurance is for the borrower and her husband at a low premium which is easily affordable. Midland Microfin has tied up with HDFC,ICICI and Kotak Mahindra Old Mutual Life Insurance Limited for the credit life insurance product. As per RBI guidelines, only the actual cost of insurance is being charged from the members and spouse.
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Operational Highlights
As on 30 Nov 2022
States/UT 11&2 Districts 167 Cities 253 Villages Covered 36,078 Branches 326 Joint Liability Groups 1,24,767 Borrowers 6,28,870 No. of Centers 84,604 Maximum Loan Amount Rs.1,50,000/- Average Ticket Size Rs.41,250 Cumulative Loan Disbursement Rs.62,90,59,97,177 (US $ 77,34,99,378) Loan Disbursed in FY22-23 Rs.12,39,31,16,262 (US $ 15,23,87,183) Loan Outstanding Rs.16,87,16,95,373 (US $ 20,74,56,307) Loan End Use Verification 100% Equity Share Capital Rs.45,57,01,620 (US $ 56,03,359) Preference Share Capital Rs.12,16,50,000 (US $ 14,95,822) Total Assets Rs.19,97,66,39,891 (US $ 24,56,35,062) -
Customer Testimonials
Member 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.
Member 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.
Member 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.
Member 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
Area of Operation and Branch Network
At present the area of Operation of Midland Microfin is Punjab,Chandigarh ,Haryana ,Rajasthan,Uttar Pradesh,Bihar,uttarakhand,Himachal Pradesh,Jharkhand,Gujarat and Madhya Pradesh . Midland Microfin is having 253 branches in Punjab,Chandigarh,Haryana,Rajasthan,Uttar Pradesh,uttarakhand,Bihar,Himachal Pradesh,Jharkhand,Gujarat and Madhya Pradesh.
In the next financial year the area will be expanded to the states of odisha Apart from opening more branches in Punjab,Chandigarh,Haryana,Rajasthan,Uttar Pradesh,Bihar,uttarakhand, Himachal Pradesh,Jharkhand,Gujarat and Madhya Pradesh .Thereafter it is proposed to be expanded to entire India and nearby countries.
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) |
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| 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 |
| Digital 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 |
Insurance Services
We provide insurance cover to the members in case of death not only to ensure recovery but also to provide support to the family, which drastically reduces risk for the poor. The insurance amount serves protection of credit and support to the borrower’s family. The mandatory life insurance is for the borrower and her husband at a low premium which is easily affordable. Midland Microfin has tied up with HDFC,ICICI and Kotak Mahindra Old Mutual Life Insurance Limited for the credit life insurance product. As per RBI guidelines, only the actual cost of insurance is being charged from the members and spouse.
Operational Highlights
As on 30 Nov 2022
| States/UT | 11&2 |
| Districts | 167 |
| Cities | 253 |
| Villages Covered | 36,078 |
| Branches | 326 |
| Joint Liability Groups | 1,24,767 |
| Borrowers | 6,28,870 |
| No. of Centers | 84,604 |
| Maximum Loan Amount | Rs.1,50,000/- |
| Average Ticket Size | Rs.41,250 |
| Cumulative Loan Disbursement | Rs.62,90,59,97,177 |
| (US $ 77,34,99,378) | |
| Loan Disbursed in FY22-23 | Rs.12,39,31,16,262 |
| (US $ 15,23,87,183) | |
| Loan Outstanding | Rs.16,87,16,95,373 |
| (US $ 20,74,56,307) | |
| Loan End Use Verification | 100% |
| Equity Share Capital | Rs.45,57,01,620 |
| (US $ 56,03,359) | |
| Preference Share Capital | Rs.12,16,50,000 |
| (US $ 14,95,822) | |
| Total Assets | Rs.19,97,66,39,891 |
| (US $ 24,56,35,062) |
Customer Testimonials
Member 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.
Member 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.
Member 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.
Member 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.
© Midland Microfin Limited
