First Microfinance Institution
of the Region
07:15 AM Monday, 08 August 2022
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 For 6 Months Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 6 Months 5000 – 10000 At actuals 23.92% 1% on PF & applicable GST As per the choice of a borrower Business Loan For 12 Months Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 12 Months 11000 – 30000 At actuals 23.92% 1% on PF & applicable GST As per the choice of a borrower Business Loan For 18 Months Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 18 Months 20000 – 40000 At actuals 23.92% 1% on PF & applicable GST As per the choice of a borrower Business Loan For 24 Months Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 24 Months 20000 – 60000 At actuals 23.92% 1% on PF & applicable GST As per the choice of a borrower Udaan Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 24 Months 60000 – 150000 At actuals 28% 1% on PF & applicable GST As per the choice of a borrower Udaan Dairy Loan Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 24 Months 60000 – 150000 At actuals 28% 1% on PF & applicable GST As per the choice of a borrower WPL HUL CLASSICRO Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 11 M / 9 M / 6 M 8950 As per actuals 26.00% 1% on PF & applicable GST As per the choice of a borrower RICCO IRON Tenure Loan Size (Rs.) Insurance Premium Interest Rate Reducing Loan Processing Fees & GST Repayment Frequency 9 M / 12 M 1399 As per actuals 26% 1% on PF & applicable GST As per the choice of a 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 Oct 2021
States/UT 11 & 1 Districts 129 Cities 253 Villages Covered 27,628 Branches 253 Joint Liability Groups 3,20,592 Borrowers 4,64,811 No. of Centers 58,743 Maximum Loan Amount Rs. 1,50,000/- Average Ticket Size Rs.33,111 Cumulative Loan Disbursement Rs. 43,337,615,254 US$ 576,390,282 Loan Disbursed in FY21-22 Rs.6,162,123,115 US$ 36,939,588 Loan Outstanding Rs.8,505,580,272 (US$ 11,31,24,218) Loan End Use Verification 100% Equity Share Capital Rs.45,57,01,620 (US$ 6,060,831) Preference Share Capital Rs.15,94,50,000 (US$ 2,120,685) Total Assets Rs.12,496,252,492 (US$ 166,200,158) -
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 For 6 Months | |||||
| Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
| 6 Months | 5000 – 10000 | At actuals | 23.92% | 1% on PF & applicable GST | As per the choice of a borrower |
| Business Loan For 12 Months | |||||
| Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
| 12 Months | 11000 – 30000 | At actuals | 23.92% | 1% on PF & applicable GST | As per the choice of a borrower |
| Business Loan For 18 Months | |||||
| Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
| 18 Months | 20000 – 40000 | At actuals | 23.92% | 1% on PF & applicable GST | As per the choice of a borrower |
| Business Loan For 24 Months | |||||
| Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
| 24 Months | 20000 – 60000 | At actuals | 23.92% | 1% on PF & applicable GST | As per the choice of a borrower |
| Udaan | |||||
| Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
| 24 Months | 60000 – 150000 | At actuals | 28% | 1% on PF & applicable GST | As per the choice of a borrower |
| Udaan Dairy Loan | |||||
| Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
| 24 Months | 60000 – 150000 | At actuals | 28% | 1% on PF & applicable GST | As per the choice of a borrower |
| WPL HUL CLASSICRO | |||||
| Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
| 11 M / 9 M / 6 M | 8950 | As per actuals | 26.00% | 1% on PF & applicable GST | As per the choice of a borrower |
| RICCO IRON | |||||
| Tenure | Loan Size (Rs.) | Insurance Premium | Interest Rate Reducing | Loan Processing Fees & GST | Repayment Frequency |
| 9 M / 12 M | 1399 | As per actuals | 26% | 1% on PF & applicable GST | As per the choice of a 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 Oct 2021
| States/UT | 11 & 1 |
| Districts | 129 |
| Cities | 253 |
| Villages Covered | 27,628 |
| Branches | 253 |
| Joint Liability Groups | 3,20,592 |
| Borrowers | 4,64,811 |
| No. of Centers | 58,743 |
| Maximum Loan Amount | Rs. 1,50,000/- |
| Average Ticket Size | Rs.33,111 |
| Cumulative Loan Disbursement | Rs. 43,337,615,254 |
| US$ 576,390,282 | |
| Loan Disbursed in FY21-22 | Rs.6,162,123,115 |
| US$ 36,939,588 | |
| Loan Outstanding | Rs.8,505,580,272 |
| (US$ 11,31,24,218) | |
| Loan End Use Verification | 100% |
| Equity Share Capital | Rs.45,57,01,620 |
| (US$ 6,060,831) | |
| Preference Share Capital | Rs.15,94,50,000 |
| (US$ 2,120,685) | |
| Total Assets | Rs.12,496,252,492 |
| (US$ 166,200,158) |
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
