Any eligible person can voluntarily become a member, subject to domicile, minimum patronage and other such requirements of AP MACS ACT, 1995, and committed to use the services of JAGRUTHI abiding by the membership obligations, as defined in the bylaws.
JAGRUTHI believes in ‘membership’ concept. The member is not only a member/client but also a share holder, user, and owner. As such these are the types of loans a member can avail:
- Business Start up Loan
- Small Business Loans
- Micro Enterprise Loans
- Agricultural Loans
- Livestock Loans
- Asset purchase
- Housing Loans
Jagruthi - LRF - Loan Risk
Jagruthi is working in conjunction with Insurance companies to meet the insurance needs of its customers, offering a basic loan for the first year. This scheme fills the void created by the usual neglect of the low income earners’ need and wants. The premiums applicable to various insurance schemes will be collected from customers directly upon enrolment.
Jagruthi will take care of an outstanding loan of the member in case of any life-threatening incident happens to the member. Jagruthi will write off the loan from its loan risk fund (LRF) the second year onwards. This product is designed to not burden the member’s nominee. LRF is applicable for loans below Rs. 50,000/- only.