Micro Credit :

Credit plays an important role for improvement in financial health of a person in a large country like ours where larger section of the people has to depend upon self-employment for their livelihood. Moreover, India is agro-based country and as such, there is ample scope for being employed directly or indirectly with activities linked with agriculture.

For various reasons, poor and marginalised sections are deprived in availing financial support from the main stream financial institutions. Since they require financial help for their day to day earning, Destiny Finco like other MFI has come forward to render financial services on easy terms.

Micro Credits are mainly offered to the poor and under-privileged women who are the members of MF programme. Loan is allowed for different kinds of income generating activities which include agro-processing job, animal husbandry, handicraft, small business and family needs like repairing of house etc. Before sanctioning the loan, KYC formalities are completed and eligibility as borrower is thoroughly examined.

Insurance :

In order to ensure refund/adjustment of loan in case of any disaster, principal loan amount is get covered under Group Insurance Scheme of Life Insurance Corporation of India, total charges being 1% of the loan amount is paid by the borrower.

In case of death of the borrower or her spouse, principal loan amount is refunded by the insurance company. The balance amount after settlement of remaining dues, is refunded to the borrower or her spouse, as the case may be.