Aphelion Finance has resolved to meet the financial needs of the lower income group based out of remote Tier II and Tier III cities of India. In accordance with the Government’s aim to develop and help the priority sectors of the country, Aphelion has opened branches in several states to reach out to such sectors through small ticket MSME loans and group loans. Through this approach, the Company not only helps exponentiate the priority sector lending, but also amplifies woman empowerment.
Please refer to our Contact Us page to view our branch presence in the country.
Eligibility Criteria for a Group Loan
Eligibility to Avail Group Loan
- Loan Amount
- Rs. 20,000/- onwards
- Tenure
- 6 months to 13.5 months
- Top Up Criteria
- Top up allowed only if last 2 EMIs are yet to be due
- Type of residence
- Owned. If not owned, then Co-borrower (family member who owns the house) is mandatory.
- Age
- 21 – 60 years
- Household Income (p.a.)
- More than Rs. 3,00,000/-
- Gender
- Females only. Co-borrower may be the husband or another earning male member of the family.
- Purpose
- Small business activities
- Geographical Limit
- Up to 30km radius from the branch (refer to ‘Contact Us’ to locate our nearest branch to you)
*Please note that the above eligibility criteria are subject to change on a case-to-case basis.
Documents Required
- No.
- Document
- Applicant
- Co-applicant
- 1.
- KYC (Pan card, Aadhar card, Voter ID)
- Yes
- Yes
- 2.
- Security cheque
- Yes
- Optional
- 3.
- 2 Passport sized photographs
- Yes
- Yes (1)
- 4.
- Electricity Bill
- Yes
- Optional
- 5.
- CRIF Report Extraction
- Yes
- Yes
- 6.
- Application Form
- Yes
- Yes
*Please note that the above eligibility criteria are subject to change on a case-to-case basis.