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Annapurna Microfinance

Getting access to credit, sometimes, becomes difficult even for a salaried or self-employed professional. Imagine, how would a poor un-employed individual get a loan amidst enormous banking formalities? A large segment of people who live under poverty find it hard to get finance from established lending institutions. As the country aim for an inclusive growth at all sectors, the provision of micro credit is certainly a powerful tool that will bring financial inclusion.

Having visualised financial inclusion is the only way for development, Annapurna Microfinance helps poor communities to establish small businesses in the society. The beneficiaries include fishermen, artisans, farmers, small entrepreneurs, deprived communities etc.

Advantages and Features of Annapurna Microfinance

  • Aimed at empowering poor women and their livelihood
  • To improve the living conditions of the marginalised people
  • To fund the small and micro business entrepreneurs
  • Pension scheme for workers from the unorganised sectors
  • Insurance scheme for the poor
  • Loan for low-cost house building

Annapurna Microfinance Products and Services

Annapurna Microfinance provides to poor men and women the following products and services.

SHG Loan

Women, who are unable to access credit through formal banking system, can get financial help through income generation loan. Poor women, who are involved in micro businesses to support their family, are identified and given credit assistance.

The loan provided under this scheme can be used for agriculture purposes, purchase of agriculture related equipment, micro business enterprise, handicraft and handloom. The loan amount could range from INR 8000 to INR 25,000. The repayment tenure is up to 36 months.

Safe Water and Sanitation to Households

Focusing on access to clean water, hygiene and sanitation, Annapurna Microfinance provides loans to women to improve the living conditions. The credit is provided at affordable interest rates for women to help their family live with a better sanitation. This product facilitates construction of toilets, installation of water pipes, hand borewell, water purifier etc.

The loan amount could range between INR 2000 to INR 12,000. The repayment tenure is up to 24 months.

Crop Loan for Vegetable Cultivation

Both women and men can get a loan from Annapurna Microfinance for up to INR 25,000 for cultivation purpose. The loan is provided exclusively for cultivation purpose. The borrowers can repay the loan within 24 months.

Microenterprise Loan

People who are looking to start up a small business or improve the existing micro enterprise can avail a loan for up to INR 20 Lakhs under this scheme. The loan can be availed individually or together as a group. The repayment tenure is up to 36 months at the interest rate of 24%.

Dairy Development Loan

Dairy farming is one of the well-known occupations in the rural villages. Individuals who are involved in dairy farming or want to set up a farm can avail a dairy development loan for up to INR 1,50,000 at the interest rate of 23%. The loan can be repaid in 36 months. The preferred clients are who have prior experience in the industry and have at least 2 cows.

Home Improvement Loan

The mission of this product to fund the poor people who want to repair or extend their own house. Under this scheme, the customers can get funding starting from INR 20,000 to up to INR 1.5 Lakhs. The loan can be used to build a low-cost house for a comfortable living. The repayment can be done up to 48 instalments.

Loans for Family Members of Leprosy Affected Patients

People who are affected with leprosy are often neglected in society. What they deserve is a good opportunity to support their own life and family. The family members of leprosy affected patients can get a loan up to INR 1 Lakh to start a small enterprise to become self-supportive. The loan can be repaid in 36 instalments.

Loans for Widows, Unmarried Women, Single Mothers

Women who have no support of their better-half get an opportunity to avail a loan to become self-supportive under this scheme. The purpose of the loan is to generate income through an occupation. The maximum loan amount is up to INR 1 Lakh which can be repaid in 36 months.

Annapurna Student Education Loan

Students who have completed their higher secondary education can avail a loan to gain financial support for further education. Maximum of 85% of the fee is provided as loan (subject to maximum of INR 1 Lakh). The loan can be availed at an interest rate of 18% and repaid in 36 months.

Loans for Persons with Disability

Under this scheme, physically challenged individuals can get a loan for up to INR 1 Lakh which can be repaid in 36 months. The purpose of the loan is to generate a regular income with the loan amount.

Loans for Persons Belonging to the Community of Eunuch/Third Gender

It is a pity that third gender are often neglected a job opportunity in the society. Hence it is our duty to create a friendly working atmosphere for survival. Annapurna Microfinance provides exclusive loan for third gender community for up to INR 1 Lakh which can be used to generate income regularly through a small enterprise.

Annapurna Microfinance Location

To apply for a loan with Annapurna Microfinance, you can contact them at their branches or the head office located in Odisha.

Corporate Office Address

1215/1401, Khandagiri Bari,

Opposite Jayadev Vatika,


Bhubaneswar – 751030

Registered Office

HIG-97, Dharma Vihar,

Khandagiri Square,

Bhubaneswar, Orissa-751030

You can also reach them out to register your feedback, complaint, grievance or query at infor(at)ampl(dot)net(dot)in

Grievance Redressal Mechanism at Annapurna Microfinance

Annapurna Microfinance aims to provide resolution to their customers in a fair and timely manner. All the passbooks are provided with the telephone number of branch managers in order to contact them for any query and complaints.

Customers can also call the 24X7 toll-free number 18008437200 for registering any complaint or grievances.

If the grievance is not redressed within 15 working days, it can be escalated with the Grievance redressal officer and can be contacted at the following address.

Grievance Nodal Officer,


Khandagiri Bari,

Bhubaneswar – 751030

Escalating with the Grievance Redressal officer is still not satisfactory, it can be taken to the Department of Non-Banking Supervision of Reserve Bank of India at the following address.

Reserve Bank of India,

Pandit Jawaharlal Nehru Marg,

Post Box No-16.


What Is Microfinance?

Microfinance is a type of banking service that is provided to unemployed or low-income individuals or groups especially people who have no access to credit in the formal banking system. Microfinance is an alternative to banks for people who live in remote villages of the country. The goal of micro credit companies is to provide a financial opportunity to poor people to become self-supportive and to those who did not have to avail formal credit. While microfinance is concentrated in the rural regions, it is also prevalent in urban poor, who have continued to be a segment that has been neglected by the organized form of banking.

Microfinance, an Alternative to Banks

Though India is experiencing a rapid growth at all sectors, there are still a certain percentage of people who are not covered by the formal banking system. Firstly, most of these people do not have a bank account and getting a loan from bank is even more a tough task.

Banks demand a steady source of income, worthy collateral, credit score etc. to provide a loan. People who have none of these have no chance of availing a credit to become self-supportive. More importantly banks require authenticated documents like ID proof, address proof, PAN, Aadhar card, proof of continuous employment which is not easily available with the segment that does not have much or any of the above documents required. These documents form the bulk of the qualifying criteria, which if an applicant does not meet will be rejected for a loan. Microfinance in India is addressing this need of the people.

Microfinance, identifying, small entrepreneurs come forward to uplift their lives by providing micro credit within their repayment capacity. The Microfinance companies conduct camps at remote villages and some urban pockets and offer financial assistance.

Who Are the Beneficiaries of Microfinance?

The established lending institutions generally cover salaried or self-employed professionals who have a steady source of income or work in an organised sector. Microfinance benefits the people who are involved in profession such as fishery, artisans, constructions works, vendors, small entrepreneurs etc. These individuals generally work in unorganised sectors and live in remote villages or slums in urban areas.

How Does Microfinance Help?

Economically weaker section of people get access to micro credit to enhance their lifestyle in several ways. With varied products from the Microfinance companies, the borrowers can use the funding for start a small business, build a low-cost house, get sanitation facilities etc.

Microfinance companies generally work through self-help groups in the rural and urban localities to provide the financial assistance to economically deprived people.

How Can Indians With No Credit History Get Loans and Credit Cards?

Our country can boast of a vibrant economy only when all segment of people can get access to credit. This is the only way to achieve an inclusive growth. CreditMantri, helps individuals who are otherwise unable to get credit in any form through formal banking system. The first-time borrowers who do not have a credit score or collateral can use CreditMantri platform to explore lenders who are willing to lend to them based on other criteria.

CreditMantri works with multiple lenders which include leading banks and NBFCs to also develop special products like small ticket loans which are able to provide such applicants a loan even with no credit score, a bad credit rating and with negative issues.

About Annapurna Microfinance

Annapurna is one of the fastest growing Non-Banking Financial Corporation (NBFC – MFI) based out of Odisha. Started in 1990, the microfinance company was later registered with the Reserve Bank of India in 2013. The organisation was declared a NBFC- MFI in the year 2013. Annapurna was established with the aim of helping the poor people financially to become self-sufficient.

Frequently Asked Questions About Annapurna Microfinance

1. Who can avail credit from Annapurna Microfinance?

People who are not covered by formal banking system, living in urban slums or remote villages can avail micro credit from Annapurna Microfinance.

2. For what purposes, the micro credit is offered by Annapurna Microfinance?

Annapurna Microfinance is provided for the purpose of micro business units, low-cost house building, construction of toilets, setting up irrigation system, student finance and generating income for widows, single mothers, unmarried women, person with disability etc.

3. What is the maximum amount of loan you can get under Annapurna Microfinance?

The loan amount is disbursed as per the scheme and repaying capacity of the borrower.

4. Does Annapurna provide micro credit only for women borrowers?

No, the micro credit is provided for men, women and third gender, especially for individuals who have no access to financial help through formal banking system.

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