Lending Rates Charged On Microfinance Loans of Last Quarter Ending September 2024
24.74
Average Rate of Interest
Minimum Interest Rate
Maximum Interest Rate
Average Processing Fee (% of the Loan)
Base rate
Product Wise Average Lending Rate of Last Quarter Ending September 2024
| Product | Minimum Interest Rate (%) | Maximum Interest Rate (%) | Average rate of interest in last quarter (%) | Processing Fees (% of the loan) |
|---|---|---|---|---|
| INCOME GENERATION LOAN | 22.88% | 24.98% | 24.74% | 0.75% – 1.5% |
| WATER & SANITATION | 23.48% | 24.98% | 24.68% | 0.75% – 1.5% |
| PRODUCT FINANCING | 24.08% | 24.98% | 24.91% | 0.75% – 1.5% |
Frequency
Loan facility shall be classified as SMA 0 when it is in overdue up to 30 days; SMA-1 when it is more than 30 days and up to 60 days; SMA-2 when it is more than 60 days and up to 90 days and classifies as NPA when it is more than 90 days. Here SMA refers to “Special Mention Account”. NPA status of the loan shall change only when the entire arrear i.e. principal and interest is paid by the borrower.
Our business is based primarily on the Joint Liability Group model, enabling us to provide collateral-free, microcredit facilities to economically active women in rural, semi-urban and urban areas, who otherwise have limited access to mainstream financial service providers.
| Name | Customer Profile | Loan Size | Loan Tenure | Rate of Interest (On Reducing basis) |
|---|---|---|---|---|
| Income Generation Loan- IGL | Uplifting the economically weaker section of the society by providing loans for income generating purposes like Agriculture, Transportation, Trading, and Production related business activities. | INR 10,000 – 90,000 | 12 – 30 months | 21-25 % |
| WATER & SANITATION (WASH) | Enhance quality of life of members with loans for safe water & sanitation facilities | INR 10,000 – 35,000 | 12 – 24 months | 21-25 % |
| MSME Loan | Loan offered to merchants, retailer, wholesaler, manufacturing, service providers, salaried, self-employed professional and Agri business. Loan offered to Self Employed Professional, Self-employed Individual / Non Individual Entities (Business Enterprise) | INR 1 – 15 Lacs | Max 10 Years | 20% – 27% |
| Lending to Corporate Institutions & Micro Finance Companies | Loan offered to Corporate Institutions & Micro Finance Companies | INR 1 – 10 Cr | Max 3 Years | 12% – 22% |
At SCNL, we have made social charter an integral part of our corporate culture, with community enrichment central to our business growth. In our quest to make a difference in the quality of the lives of our clients, we have developed and are offering customised loans to facilitate access to clean energy, better mobility, safe water and sanitation facilities, in addition to the business loans.
| Name | Customer Profile | Loan Size | Loan Tenure | Rate of Interest (On Reducing basis) |
|---|---|---|---|---|
| SOLAR | Strengthen our members with prolonged light facilities in electricity deficient areas for household and business | INR 2,200-INR 4,000 | 6-9 months | 21-25 % |
| CYCLE | Helping the members to enhance the efficiency and reducing the time of travel to earn their livelihood | INR 5,600-INR 7,000 | 6-12 months | 21-25 % |
| HOME APPLIANCES (Induction & Pressure Cooker) | Enhance the quality of life of members & to provide a substitute for cooking purposes and improve life style. |
INR 2,100 – INR 32,000 | 6-24 months | 21-25 % |
| MOBILE | To Upgrade client’s livelihood & to enhance communication bridge | INR 11,499 – INR 21,499 | 12-24 months | 21-25 % |