Midland Microfin Limited

First Microfinance Institution
of the Region

09:06 AM Friday, 30 July 2021

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


    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



    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


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



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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