First Microfinance Institution
of the Region
10:06 AM Friday, 30 July 2021
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,Himachal Pradesh,Jharkhand and Gujarat. Midland Microfin is having 219 branches in Punjab,Chandigarh ,Haryana ,Rajasthan,Uttar Pradesh,Bihar,Himachal Pradesh ,Jharkhand and Gujarat .
In the next financial year the area will be expanded to the states of Gujrat and Madhya Pradesh Apart from opening more branches in Punjab,Chandigarh ,Haryana ,Rajasthan,Uttar Pradesh,Bihar, Himachal Pradesh , Jharkhand and Gujarat. 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 For One Year
Total Installments Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 13 1 Year 10000 – 30000 7.5% of Sum assured Amount as per defined slab 21.47% 1% on PF & applicable GST As per choice of borrower Business Loan For 18 Months
Total Installments Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 19 18 Months 10000 – 30000 11% of Sum assured Amount as per defined slab 21.47% 1% on PF & applicable GST As per choice of borrower Business Loan For 24 Months
Total Installments Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 26 24 Months 40000 – 60000 11.75% of Sum assured Amount as per defined slab 21.47% 1% on PF & applicable GST As per choice of borrower Saral Loan For 24 Months
Total Installments Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 26 24 Months 40000 – 60000 11.75% of Sum assured Amount as per defined slab 28% 2% on PF & applicable GST As per choice of borrower Udaan
Total Installments Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 24 24 Months 60000 – 150000 11.75% of Sum assured Amount as per defined slab 28% 2% on PF & applicable GST As per choice of borrower Udaan Dairy Loan
Total Installments Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 24 24 Months 50001 – 150000 11.75% of Sum assured Amount as per defined slab 28% 2% on PF & applicable GST As per choice of borrower Mitvaa MST952A Solar Light
Total Installments Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 12 / 10 / 7 11 M / 9 M / 6 M 2250 – 2250 7.5% of Sum assured Amount as per defined slab 26.50% 2% on PF & applicable GST As per choice of borrower SML Singer Sewing Machine
Total Installments Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 12 / 10 / 7 11 M / 9 M / 6 M 3695 – 3695 7.5% of Sum assured Amount as per defined slab 26.50% 2% on PF & applicable GST As per choice of borrower SPL SUN-KING BOOM
Total Installments Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 10 / 7 9 M / 6 M 2899 – 2899 7.5% of Sum assured Amount as per defined slab 26.50% 2% on PF & applicable GST As per choice of borrower SPL SUNKING PRO 200
Total Installments Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 10 / 7 9 M / 6 M 1499 – 1499 7.5% of Sum assured Amount as per defined slab 26.50% 2% on PF & applicable GST As per choice of borrower SPL DLIGHT
Total Installments Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 12 / 10 / 7 11 M / 9 M / 6 M 2495 – 2495 7.5% of Sum assured Amount as per defined slab 26.50% 2% on PF & applicable GST As per choice of borrower SPL SUNKING TORCH
Total Installments Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 12 / 10 / 7 11 M / 9 M / 6 M 1599 – 1599 7.5% of Sum assured Amount as per defined slab 26.50% 2% on PF & applicable GST As per choice of borrower WPL HUL CLASSICRO
Total Installments Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 12 / 10 / 7 11 M / 9 M / 6 M 8950 – 8950 7.5% of Sum assured Amount as per defined slab 26.50% 2% on PF & applicable GST As per choice of borrower Sunking Magic Bulb
Total Installments Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 1 1 Month 499 – 499 NA 28% 2% on PF & applicable GST As per choice of borrower -
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 31 May 2021
States/UT 8 & 1 Districts 112 Cities 219 Villages Covered 25,315 Branches 219 Joint Liability Groups 79,80 Borrowers 4,20,997 No. of Centers 50,683 Maximum Loan Amount Rs.1,50,000/- Average Ticket Size Rs.29,296 Cumulative Loan Disbursement Rs38,012,129,775 US$ 52,07,66,177 Loan Disbursed in FY21-22 Rs 84,52,61,624 US$ 1,15,80,084 Loan Outstanding Rs 7,64,39,28,671 (US$ 10,47,21,822) Loan End Use Verification 100% Equity Share Capital Rs.39,17,02,060 (US$ 5,366,318) Preference Share Capital Rs.15,94,50,000 (US$ 2,184,465) Total Assets Rs. 10,23,23,12,460 (US$ 14,01,82,680) -
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,Himachal Pradesh,Jharkhand and Gujarat. Midland Microfin is having 219 branches in Punjab,Chandigarh ,Haryana ,Rajasthan,Uttar Pradesh,Bihar,Himachal Pradesh ,Jharkhand and Gujarat .
In the next financial year the area will be expanded to the states of Gujrat and Madhya Pradesh Apart from opening more branches in Punjab,Chandigarh ,Haryana ,Rajasthan,Uttar Pradesh,Bihar, Himachal Pradesh , Jharkhand and Gujarat. 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 For One Year
| Total Installments | Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
|---|---|---|---|---|---|---|
| 13 | 1 Year | 10000 – 30000 | 7.5% of Sum assured Amount as per defined slab | 21.47% | 1% on PF & applicable GST | As per choice of borrower |
Business Loan For 18 Months
| Total Installments | Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
|---|---|---|---|---|---|---|
| 19 | 18 Months | 10000 – 30000 | 11% of Sum assured Amount as per defined slab | 21.47% | 1% on PF & applicable GST | As per choice of borrower |
Business Loan For 24 Months
| Total Installments | Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
|---|---|---|---|---|---|---|
| 26 | 24 Months | 40000 – 60000 | 11.75% of Sum assured Amount as per defined slab | 21.47% | 1% on PF & applicable GST | As per choice of borrower |
Saral Loan For 24 Months
| Total Installments | Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
|---|---|---|---|---|---|---|
| 26 | 24 Months | 40000 – 60000 | 11.75% of Sum assured Amount as per defined slab | 28% | 2% on PF & applicable GST | As per choice of borrower |
Udaan
| Total Installments | Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
|---|---|---|---|---|---|---|
| 24 | 24 Months | 60000 – 150000 | 11.75% of Sum assured Amount as per defined slab | 28% | 2% on PF & applicable GST | As per choice of borrower |
Udaan Dairy Loan
| Total Installments | Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
|---|---|---|---|---|---|---|
| 24 | 24 Months | 50001 – 150000 | 11.75% of Sum assured Amount as per defined slab | 28% | 2% on PF & applicable GST | As per choice of borrower |
Mitvaa MST952A Solar Light
| Total Installments | Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
|---|---|---|---|---|---|---|
| 12 / 10 / 7 | 11 M / 9 M / 6 M | 2250 – 2250 | 7.5% of Sum assured Amount as per defined slab | 26.50% | 2% on PF & applicable GST | As per choice of borrower |
SML Singer Sewing Machine
| Total Installments | Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
|---|---|---|---|---|---|---|
| 12 / 10 / 7 | 11 M / 9 M / 6 M | 3695 – 3695 | 7.5% of Sum assured Amount as per defined slab | 26.50% | 2% on PF & applicable GST | As per choice of borrower |
SPL SUN-KING BOOM
| Total Installments | Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
|---|---|---|---|---|---|---|
| 10 / 7 | 9 M / 6 M | 2899 – 2899 | 7.5% of Sum assured Amount as per defined slab | 26.50% | 2% on PF & applicable GST | As per choice of borrower |
SPL SUNKING PRO 200
| Total Installments | Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
|---|---|---|---|---|---|---|
| 10 / 7 | 9 M / 6 M | 1499 – 1499 | 7.5% of Sum assured Amount as per defined slab | 26.50% | 2% on PF & applicable GST | As per choice of borrower |
SPL DLIGHT
| Total Installments | Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
|---|---|---|---|---|---|---|
| 12 / 10 / 7 | 11 M / 9 M / 6 M | 2495 – 2495 | 7.5% of Sum assured Amount as per defined slab | 26.50% | 2% on PF & applicable GST | As per choice of borrower |
SPL SUNKING TORCH
| Total Installments | Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
|---|---|---|---|---|---|---|
| 12 / 10 / 7 | 11 M / 9 M / 6 M | 1599 – 1599 | 7.5% of Sum assured Amount as per defined slab | 26.50% | 2% on PF & applicable GST | As per choice of borrower |
WPL HUL CLASSICRO
| Total Installments | Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
|---|---|---|---|---|---|---|
| 12 / 10 / 7 | 11 M / 9 M / 6 M | 8950 – 8950 | 7.5% of Sum assured Amount as per defined slab | 26.50% | 2% on PF & applicable GST | As per choice of borrower |
Sunking Magic Bulb
| Total Installments | Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
|---|---|---|---|---|---|---|
| 1 | 1 Month | 499 – 499 | NA | 28% | 2% on PF & applicable GST | As per choice of borrower |
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 31 May 2021
| States/UT | 8 & 1 |
| Districts | 112 |
| Cities | 219 |
| Villages Covered | 25,315 |
| Branches | 219 |
| Joint Liability Groups | 79,80 |
| Borrowers | 4,20,997 |
| No. of Centers | 50,683 |
| Maximum Loan Amount | Rs.1,50,000/- |
| Average Ticket Size | Rs.29,296 |
| Cumulative Loan Disbursement | Rs38,012,129,775 |
| US$ 52,07,66,177 | |
| Loan Disbursed in FY21-22 | Rs 84,52,61,624 |
| US$ 1,15,80,084 | |
| Loan Outstanding | Rs 7,64,39,28,671 |
| (US$ 10,47,21,822) | |
| Loan End Use Verification | 100% |
| Equity Share Capital | Rs.39,17,02,060 |
| (US$ 5,366,318) | |
| Preference Share Capital | Rs.15,94,50,000 |
| (US$ 2,184,465) | |
| Total Assets | Rs. 10,23,23,12,460 |
| (US$ 14,01,82,680) |
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
