ZFI’s microfinance activities through the Bijnor Fund and Najibabad Fund (Utter Pradesh) have provided the means for greater self sufficiency to over 7,500 borrowers since 2002 alone.

The goal of ZFI’s microfinance activities is to:

• To provide, facilitate a better source of living for economically weaker sections of society.
• To accept ‘Amanat’ (Demand Deposit) without any interest from depositors and repay on demand without check or draft.
• To provide interest-free loans (micro-credit) to the poor and downtrodden class of the society.

Demographics:
As per the 2001 India census, Bijnor had a population of 79,368. Males constitute 53% of the population and females 47%. Bijnor has an average literacy rate of 63%, with male literacy of 66% and female literacy of 59%. 15% of the population is under 6 years of age. Further information can be obtained at http://bijnor.nic.in/ .

Najibabad, as per the 2001 India census has a population of 79,087. Males constitute 53% of the population and females 47%. Najibabad has an average literacy rate of 54%. Male literacy is 58%, and female literacy is 49%. In Najibabad, 16% of the population is under 6 years of age.

Microcredit:

• Loans amounts up to Rs 10,000 are given without any charge.
• Loan amounts greater than Rs. 10,000 are charged an ‘Administrative Fee.’ Depending on the level of poverty of the applicant the administrative fee varies from 3% to 7%.
• These loans are disbursed for starting very small businesses and self-employment etc.

 Apni Rickshaw Scheme:
Rickshaw pullers are very poor daily wage laborers who lose a substantial part of their earnings to rickshaw rent fees. We provide rickshaws to pullers without interest or rent and allow them to pay off the cost of the rickshaw over a period of time, hence saving them a substantial amount of money lost to rental fees.