Ajiwika Product  
Ajiwika's financial product reflects its bottom lines. Our financial services can be divided in to the following broad categories:  
   
1 Credit
2 Insurance
3 Remittances
4 Pension - at present Credit and insurance products are offered. Soon we shall be offering Remittance and pension plan. All the products are need based for the clientele we address.
 
   
Loan Product:  
   
All our loan products are specifically designed to match the livelihood need of the lower stratum of our society. Normally we offer our products through women Joint Liability Groups (JLGs). But we also have limited number of Self Help Groups (SHGs). In addition, Ajiwika offers a short-term (Sawan Mela and agriculture) loan, and is piloting a debt redemption product for rural tribal groups in Santhal region through Community Banking Model. There is a special product for 'ULTRA POOR' and Handicapped. The details are given in the table below:  
   
Product Details :  
   
Product Name Interest rate/annum Loan Size (Rs.) Repayment Frequency Loan Term
         
JLG & SHG Loan 15% (Flat) 4,000 to 45,000 Monthly 18 months
Debt Redemption Loan 18% (RB ) Reducingbalance 4,000 to 45,000 Monthly 18 months

Short Term Loan ( Sawan Mela & Agri Loan)

24% (RB) 5,000 to 20,000 Monthly 6 months
Ultra Poor Loan 15% (RB) 2,500 to 6000 Monthly 18 Months
         
 
   
Insurance Products and Services  
   
  Besides credit, Ajiwika also offers insurance services (life and general) to its clients through tie-ups with various insurance service providers (Aviva Life, LIC, HDFC ERGO and ICICI Lombard). The following table summarises the details of various insurance policies.
   
 
Partners Aviva Life HDFC ERGO LIC ICICI Lombard
Terms\Products Credit Plus Loan Linked Health Insurance Jeevan Madhur Cattle Insurance Weather Insurance
         
Premium 0.8 % of the loan Rs. 346 pa Rs. 100 per month 4.5 % (pa) of the price of Rs. 270 per crop
       
Sum Assured Loan amount Rs. 25, 000+ 25,000 for spouse and 25,000 hospital exp. Rs. 30,000 Price of the cattle Rs. 3,000
       
Optional/Compulsory Compulsory Optional Optional Compulsory Optional
       
Age limit 18-50 years 18-60 years 18-60 years NA NA
         
Tenure Loan term 5-15 years 5-15 years Loan term Loan term
         
   
   
  Ajivika provides loan-linked insurance to mitigate the risk of losing money in the event of any mishap. This also provides loan repayment coverage to clients. Ajiwika is also providing life insurance to its clients in collaboration with Life Insurance Corporation of India and Health Insurance with HDFC ERGO. In addition to loan, Health and life insurance, it also provides cattle and weather insurance with ICICI Lombard in case of a loan taken for purchase of cattle or agriculture purposes. Ajiwika is working as insurance commission agency for LIC and ICICI Lombard.
   
   
   
 
 
 
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