Kolkata, September 30: Arohan Financial Services Limited announces a revised, lower lending rate of 20.56% for its flagship loan suite Saral, as well as, its product loan. This is a 19 bps drop from its previous lending rate of 20.75%. The change is effective from October 1, 2020 and benefits over 2.3 million customers, over 96% of whom are women representing the bottom of the socio-economic pyramid. This comes as a welcome revision to help boost the livelihood activities of the underserved.
The revised lending rate is one of the lowest among NBFC-MFIs and one of the most competitive in the industry and is in line with the RBI in respect of Margin and Qualifying Assets Ratios. Arohan has a bank loan rating of A- (stable outlook), MFI grading of MF1 from CARE Ratings, a Social Performance grading of SP1, is among the Top 100 Best Companies to Work for in India and is Great Place to Work-Certified™, with a ranking among the Top 25 in the BFSI space and among the top-notch in the Microfinance sector. This enables the organisation to borrow at significantly lower costs and extend rate benefits to its customers.
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