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What is a Pragati Loan?

Pragati Loans offers money to groups of women. These loans don’t require collateral and have an easy application process. They rely on mutual trust and social collateral, with repayment scheduled in small, manageable instalments.

Will there be a processing fee for Pragati Financing?

Yes, the Pragati Loan includes a processing fee is 1.25% of the loan amount and may vary based on specific terms and conditions.

What are the fees and charges for the Pragati Scheme?

The list of fees and charges for Pragati loan is as follows:

  • Processing Fees: 1.25% on loan Amount + applicable taxes
  • Repayment/EMI Bounce Charges: Nil
  • Penal Charge/Late Payment Charge (LPC): No Foreclosure Charges: Nil
  • Charges for documents: Nil for Statement of Account/Repayment Schedule /Foreclosure Letter
How can I apply for Pragati finance?

Applying for Pragati Loans (Group Loan) with these steps:
1. Fill in your application online
2. Get in touch with our representative
3. Eligibility and Document
4. Get Loan Disbursement

What is the maximum loan amount I can get under L&T Finance for Pragati Loan?

The maximum amount offered for Pragati Loans by L&T Finance ranges up to ₹ 1,30,000.

What are the documents required for a Pragati Loan?

To apply for a Pragati Loan, certain eligibility criteria and documentation requirements must be met:
Documents:
- Aadhaar Card
- Voter ID / Ration card
Income Assessment:
- Based on the income-generating capacity of the customer and co-applicant.

What are loan tenure options for Pragati loan?

The maximum tenure for the Pragati Loan is between 24 and 36 months, allowing for flexible repayment options based on your financial situation.

What is the interest charged on Pragati Loan?

Interest rates for the Pragati Loan starts from 16% p.a.* - 23.5% p.a.*

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