Financial

Product
Development
Presentation by:- Namrata Chaudhari

1
Content 1 Objective

2 Survey Findings

3 Liability Category Products

4 Asset Category Products

2
Objective
Develop financial
products suitable for use
by a village community.

3
 Survey
Findings

4
 VILLAGES
Lahiya
11%
Milkopur
21%

Umraha
12%

District -
Varanasi
Prahladpur Shankarpura
16% 21%

5 Gaura Kala
19%
NUMBER OF FEMALES AND MALES INTERVIEWED

52 48
Females Males
6
 MARITAL STATUS
Unmarried
10%

7 Married
90%
 PROFESSION
Other
14%

Farming
Student
30%
4%

Homemaker
8%

Labour
16%

Business
28%
8
 INCOME
25001-30000
No income
4% 20001-25000
12%
6%

Upto 5000
5%
15001-20000 Average 13000
13%

5001-7500
Minimum 3500
16%

Maximum 40000
10001-15000
16%

7501-10000
27%
9
 OTHER PERSONAL DETAILS

Average Monthly Family Income 21250

Average no. of Family Members 9

Average no.of Kids 3

Average Monthly Savings 1475

10
 PART OF SHG?

33% of the participants are part

of a SHG.
On average, people save Rs. 114

33% per month.

Remaining 67% of the
participants are either not
interested or lack awareness.

11
 PEOPLE HAVING BANK ACCOUNT

REASONS BEHIND THESE 3% NOT HAVING A

BANK ACCOUNT:
Did not feel the need to open a Bank
97% account.
Account got closed due to inactivity.
Lack financial literacy

12
 BANKING PRODUCTS AND SERVICES
Do not have a Bank A/c
3%

Not Satisfied
18%
PRODUCTS AND SERVICES PEOPLE NEED:
Loan Products
Investment Products
Savings Products
Easy availability of Loan
Access to ATM Services

Satisfied
79%
13
 LOAN DETAILS
20

15

Availed Loan 10
45%

Never Availed Loan

55%

an

an

an

an
Lo

Lo

Lo

Lo
ss

al

e
ra

om
on
ne

tu
si

H
rs
14

ul
Bu

Pe

ic
gr
A
 Do you require loan? What kind of loan?

Maybe 25
11%

20

15

Yes
52%

10
No
37%

0
15 Agricultural Loan Business Loan Personal Loan
 What should be the collection process?

40

30

20

10

0
Weekly Monthly

16
 PROBLEMS FACED BY VILLAGERS IN BANKING

Bribery

Tedious documentation process

Unable to get required amount of loan

No flexibility in repayment schedule

Limited access to the ATM Services

17
 SUGGESTIONS FROM VILLAGERS

Some easement in the documentation process

Flexible repayment schedule

Loan without collateral

Weekly and Bi-weekly repayment options.

Loan Products, Investment Products, and Saving Products

18
 LIABILITY CATEGORY PRODUCTS

1. RECURRING DEPOSITS 2. FIXED DEPOSITS

Features of the product: Features of the product:

Daily, weekly, and monthly deposit Premature account closure (with minimum

schemes account closing fee)

Money collection would be done at Different rates for women, senior citizens,

doorstep/CSP points and Differently abled

Premature account closure (with minimum Deposit of different amounts and time

account closing fee) frame

Loan at lower interest to RD Account Loan at lower interest to FD Account

19 holders holders
 ASSET CATEGORY PRODUCTS

1. BUSINESS LOAN 2. PERSONAL LOAN

Features of the product: Features of the product:

Business assets can be pledged as Flexible repayment methods and time

security. frame.

Loan at discounted interest rates to Loan at discounted interest rates to people

people having FD/RD Accounts. having FD/RD Accounts.

Daily, weekly, and monthly repayment Daily, weekly, and monthly repayment

schedule at doorstep/ nearest CSP points. schedule at doorstep/ nearest CSP points.

20
 ASSET CATEGORY PRODUCTS

3. AGRICULTURAL LOAN

Features of the product:

Loan to those who possess land as well as to those who don't.

The loan amount depends on what the farmer desires to produce, geographical

conditions, and climatic conditions.

Loan at discounted interest rates to people having FD/RD Accounts.

Daily, weekly, and monthly repayment schedule at doorstep/nearest CSP points.

21
Thank
you!!