Housing loan

Mr H R Khan, Deputy Governor, Reserve Bank of India in an article “Enabling Affordable Housing for All” had written:
“Housing shortage has always been a major problem over the years in our country since independence. Estimated housing shortage in rural areas is 47.43 million units at the end of 2012 and in the urban areas 26.53 million units. In urban areas 99 per cent of the housing shortage pertains to the Economically Weaker Section (EWS) and Low Income Group (LIG) category. 90 per cent of the rural housing shortages are in respect of Below the Poverty Line (BPL)

In the wake of micro-finance revolution in India, housing micro-finance has assumed a lot of importance and has potential of having notable impact on the stakeholders engaged in the mission for affordable housing. Microfinance has the potential to enable small borrowers to start planning for a house and arranging requisite resource for it. At the same time, these institutions can have an impact on the household decision making, portfolio diversification of lenders, expansion of housing sector and growth of the local economy as a whole.
MFIs are considered to be the next best alternative for financing the EWS and LIG category. MFIs, however, face challenges which prevent them from extending housing loans. The challenges are primarily due to the longer period of housing loans as against usual micro loans of one to two years duration and due to the larger amount of loan compared to usual micro loans extended by MFIs.”




Finance for water & sanitation

As per 2011 Census report of India 46.9% households in India are having toilets. In other words
half of the country’s population still defecates in the open even after 65 years of independence. In Odisha as per a survey, out of 96.61 lakhs houses, 21.25 lakh houses have facility of toilets, i.e. only 22% families are having toilets. More than 80% houses are not having bathroom.IMG_4678
Census 2011 & economic survey 2011 data shows that 35.4% of households in Odisha have to travel more than half a kilometre for drinking water, and that this figure has actually grown in rural Odisha. National level actual figures, about 45,16,686 families had drinking water sources more than 500 metre away from their houses as per 2011-census compared to 30,44,884 in 2001. It means 14,71,802 families have become vulnerable as far as access to drinking water is concerned.
Faced with the harsh reality of open defecation by a vast majority, affecting the dignity of women and girls the most, SMCS took up with National Housing Bank (NHB) for getting loan assistance for on lending to women SHGs for providing water & sanitation facility to their members. NHB responded positively in the matter and sanctioned and disbursed Rs.100 Lakhs for the purpose. As on 31.03.2013, 9 members have been disbursed loan of Rs 2.70 lakhs for construction of toilets.


    Finance for Clean Energy:

Biomass Cook Stove saves time and fuel expenditure and since it is smokeless prevents health hazards associated with smoke. Women who normally cook food thus can utilize their saved time for other gainful activities. There will be less of health hazards to them

Solar powered light similarly provides uninterrupted light where electric power is erratic. It improves business, study activity of students. There is no health hazard like associated with fossil and other fuel.

SMCS has tied up with The Energy and Resources Institute (TERI), New Delhi for financing biomass cook stove and solar light.

Biomass fuels provided about 4 percent of the energy used in the United States in 2010. Of this, about 46 percent was from wood and wood-derived biomass, 43 percent was from biofuels (mainly ethanol), and about 11 percent was from municipal waste. Researchers are trying to develop ways to burn more biomass and fewer fossil fuels. Using biomass for energy cuts back on waste and greenhouse gas emissions.

Biomass offers other significant environmental and consumer benefits, including improving forest health, protecting air quality, and offering the most dependable renewable energy source.


TERI felt the need to utilize the forced draft (using fan to inject air into the combustion chamber) micro-gasification technology to develop an improved biomass cookstove. After two years of intensive research, field-testing and customization we have developed a single port metal stove that can cater to cooking requirements of a family of up to 7 members. Fuel wood, agriculture residue and cattle dung cake can be used as fuel for this stove. The power charger has dual charging mode (both AC/ grid power supply and solar power supply) to cater to households in unelectrified areas. Quality components have been used to make the stove performance long lasting. Stainless Steel has been used to fabricate the stove body and 11.1 V, 2.2 Ah Lithium Cobalt Oxide batteries has been used to power the fan.


Micro Enterprise, Agriculture & Allied activites.

Terms and Condition of the loans – All the SHGs/ Federations/ Co-operatives who:

have registered with SMCS
not a defaulter to any external lending agencies
not taken loan from other agency
annual income in rural area not to exceed Rs.5,000/- and Urban areas Rs.10,000/-. Total borrowing of the member should not exceed Rs.50,000/- from to MFIs including SMCS.
having a good track record of payment
considered to be standard asset
having repaying capacity

Loan Cycles-

Short term loan for 12 months
Medium term loan for 18-24 months
Long term loan for 24-36 months

Reasonable and flexible considering market rates as well as the risk and development interest rate relevance of the project

Moratorium :
One month grace from the date of disbursement applicable for all type of loan.
Savings Products :
We are not accepting any deposit from the borrowers or public. SMCS encorages SHG Members to save & Open accouts in Banks



Micro Insurance Products : We are tied up with mainstream Insurance Companies like – LIC, Birla Sun Life and United India Insurance. So the role of the MFI is limited by explaining the client about the scheme, filling up appropriately the necessary documents, collection of premium and delivery of the policies to the insurer thereby linking with the Insurance Provider. The details of schemes of various Companies are under :-

Birla Sun Life Insurance

birlaBima Kabach Yojana

  • Premium : Rs. 50/-, Rs. 100/-, Rs. 200/-
  • Duration : 3 yr
    Age : 18-50
    Insurance Amt : Rs. 5000/-, Rs. 10,000/-, Rs. 20,000/-
    Coverage Type: Normal / Accendintal


United India Insuranceunited

Janata Personal Accident
Premium : Rs. 30/-
Duration : 1 yrs
Age : 18-70
Insurance Amt : 50,000/-
Coverage Type: Accendintal


Janashree Bima Yojana

  • Premium : Rs. 150/-licv

Duration : 1 yrs
Age : 18-60
Insurance Amt : 40,000/- for Normal, 85,000/- Accidental, 37,500/- Physical Disability