Arohan Financial Services (P) Limited announced a lower lending rate of 20.75% for all its microfinance products except Premium. In effect from May 1, 2018, this change is a 24 bps cut from the earlier lending rate of 20.99%.
The rate revision will benefit lakhs of new customers of Arohan, over 96% of which are women from socio-economically disadvantaged backgrounds across the Low Income States of Eastern, Central and North Eastern India. The rate cut has been made possible due to Arohan’s robust operational processes and management control leading to retained lender confidence and lower borrowing costs. The revised pricing is among the best for any NBFC-MFI in the nine states that the company operates in viz Assam, Bihar, Chattisgarh, Jharkhand, Meghalaya, Odisha, Tripura, Uttar Pradesh and West Bengal.
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