Interested in financial products

Village Financial Services

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, Village Financial Services 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 Village Financial Services

  • 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

Village Financial Services Products and Services

Village Financial Services provides to poor women the following products and services.

Name of ProductBriddhi LoanSri Briddhi Loan
Clientele (group, individual)JLG memberJLG member
PurposeIncome generating activitiesIncome generating activities
Age limit18-55 years18-55 years
Loan SizeUpto Rs. 30,000/-Upto Rs. 1,00,000/-
Loan tenure12 months24 months
  • Disbursement of the loan amount has a maximum limit Rs. 1,00,000/-
  • Loan should not exceed Rs. 25,000/- in the first cycle
  • Total indebtedness of the borrower should not exceed Rs. 1,00,000/-

The other key features of VFS products are:

  • No penalty is charged for delayed payment.
  • Borrower and her spouse get insurance cover
  • Prepayment of the loans are allowed without penalty
  • Loans are granted without any collateral
  • Loans are repayable by weekly, fortnightly or monthly installments at the choice of the borrower/group.

Eligibility Criteria for Village Financial Services

Following are the eligibility criteria to get micro credit from Sonata

  • Only women borrowers are eligible
  • The borrower must be a member of a Joint Liability Group (JLG)
  • The loan is meant to be used for income generating activity only
  • Household Annual Income of the borrower should not exceed Rs. 1,00,000/- or Rs. 1,60,000/- in rural area and non-rural area, respectively

Village Financial Services Location

To apply for a loan with Village Financial Services, you can contact them at their branches or the head office located in Kolkata.

Corporate Office

Eco Space Business Park, Tower- 4B,

4th Floor, Room No- 403, New Town,

Rajarhat, Kolkata-700 156.

Registered Office

Village Tower, Geetanjali Park,

18/ 3A Kumud Ghoshal Road,

Ariadaha, Kolkata- 700057

Email : contact(at)

Grievance Redressal Mechanism at Village Financial Services

Village Financial Services 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 corporate office number 033 66551466 for registering any complaint or grievances. Following steps can be followed in registering your compliant with the company.

Step 1: Complaint Register

VFS members may contact our branches or write to the Branch Manager explaining the details of their issues. Our Branch Manager will be glad to assist you.

Step 2: Letter of Correspondence

If you do not receive a response within 10 days from the channels under STEP:1, or, if you are not satisfied with the response received, you can escalate your complaint to our Help Desk Executive at our Corporate Office 033 66551466 (from 10.00 AM to 05:00 PM except Saturday, Sunday and other Holidays)

step 3:

If you are not satisfied with the response that you receive from the Branch level or channels under STEP 2, or if you do not hear from us in 10 days, you may contact the Office of the Chief Nodal Officer for a speedy investigation and fair resolution of your problem. Please quote the reference number provided to you in your earlier interaction with the VFS, along with your account / loan number to help us understand and address your concern.

Nodal officer,

Village Financial Services Ltd. (VFS)

Eco Space Business Park


Room No.-403, 4th Floor New Town, Rajarhat

Kolkata-700156, West Bengal

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 Village Financial Services

Started in 2005 Village Financial Services (VFS) located in Kolkata is a microfinance company registered as an NBFC-MFI under Reserve Bank of India under section 45 IA. They provide Joint Liability Group Loans to women who reside in rural and semi urban areas. They provide credit to women who otherwise have no access to it.

Frequently Asked Questions About Village Financial Services

1. Who can avail credit from Village Financial Services?

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

2. For what purposes the micro credit is offered by Village Financial Services?

Village Financial Services is provided for the purpose of micro business units, low-cost house building, construction of toilets, setting up irrigation system, purchase of solar ware etc.

3. Are there insurance benefits for availing Village Financial Services?

Yes, you can get insurance benefits as long as you repay the loan amount.

4. What is maximum amount of loan you can get under Village Financial Services?

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

5. Does Sonata provide micro credit only for women borrowers?

Yes, the micro credit is provided only for women as they have less chance of availing financial assistance from established financial institutions.

×Thank you! Your comment will be reviewed and posted shortly.

Write a review

CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf.