Arohan Announces a Revised Lending Rate
News Desk, News Nation 360 : Arohan Financial Services Limited announces a revised lending rate of 20.49% on the fresh disbursements in Q1 FY21 due to the reduced average cost of borrowing of Q4 FY 20 for its flagship product Saral, as well as, its product loan. The change is effective from April 22, 2020, and benefits over 2.2 million customers representing the bottom of the socio-economic pyramid. The revised lending rate is 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- (positive outlook), MFI grading of MF1 from CARE Ratings, a Social Performance grading of SP1 and is Great Place to Work-Certified™, with a ranking among the Top 25 in the BFSI space. This enables the organisation to borrow at significantly lower costs and extend rate benefits to its customers.
Report : Anustup Kundu