Svamaan's Income Generation Loan (IGL) is geared towards supporting income enhancement and business development activities of our customers including providing support for working capital requirements
The below interest rates are applicable from 12 September 2024
| Loan Product | Repayment Frequency | Rate of Interest (%) | Fees & Charges | |||||
|---|---|---|---|---|---|---|---|---|
| Microfinance Loan – Product Name | Loan Amount | Loan Tenure | Min. | Max. | Average in the last Quarter | Average Processing Fee (% of loan) | Other Charges | |
| Income Generation Loan | Upto ₹90,000 | 1 year to 3 Years | Weekly / Bi-Weekly / Monthly | 23.00 | 24.50 | 24.07 | 1.5% (plus GST as applicable) |
Insurance Fees as Applicable |
| Sahyog Supplementary Loan | Upto ₹30,000 | 1.5 Years | Weekly / Bi-Weekly / Monthly | 24.50 | 24.50 | 24.50 | 1.71% (plus GST as applicable) |
Insurance Fees as Applicable |
| Consumer Durable | Upto ₹30,000 | 1 year to 1.5 Years | Weekly / Bi-Weekly / Monthly | 19.50 | 24.50 | 23.67 | 1.71% (plus GST as applicable) |
Insurance Fees as Applicable |
| Loan Product | Repayment Frequency | Rate of Interest (%) | Fees & Charges | |||||
|---|---|---|---|---|---|---|---|---|
| All Microfinance Loan | Loan Amount | Loan Tenure | Min. | Max. | Average in the last Quarter | Average Processing Fee (% of loan) | Other Charges | |
| Upto ₹90,000 | 1 year to 3 Years | Weekly / Bi-Weekly / Monthly | 19.50 | 24.50 | 24.14 | 1.5% (plus GST as applicable) |
Insurance Fees as Applicable | |
The calculation of Interest Rate is based on the revised guidelines of RBI/DOR/2021-22/89 DoR.FIN.REC.95/03.10.038/2021-22 dated March 14,2022 on the regulatory framework of microfinance loans.
Micro-Entrepreneur loans are focused on driving financial inclusion for small businesses across India
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