Our Work
BUSINESS LOANS FOR RURAL WOMEN
OFFER MICRO-LOANS TO RURAL WOMEN CUSTOMERS
We encourage entrepreneurship to rural women by extending differential financial solutions and enable them to invest for growth in their business. This is implemented by the means of an accessible micro credit at one of lowest interest rate in the country. These microloans are meted out to the rural women customers individually, organised in groups of 5-25 women, with each member of the group providing credit guarantee for the other members.
Svatantra is one of the leading institutions to retain 100% cashless disbursement from day one, by disbursing loans directly in the customers bank account. For the customers who don’t have a bank account, Svatantra team assist them in opening one. This way, not only do the customers gain more confidence in banking activities but also earn interest on their savings.
Our Products for Rural Women Entrepreneurs
Our Product offering is tailored to suit customer needs which is delivered to them in the most efficient manner through innovative processes. Currently, we offer the following products.
| Rate of Interest | |||||||
|---|---|---|---|---|---|---|---|
| Product | Minimum | Maximum | Average Rate of Interest | Processing Fees | |||
| Microfinance Loans - JLG | 19.75% | 24.25% | 23.21% | 0.75% to 1.50% Plus GST as applicable | |||
| Individual Loan | 23% | 23% | 23% |
Up to Rs.1 Lakh – Rs.1,500/- Above Rs.1 Lakh – Rs.3,000/- Plus GST as applicable |
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| Insurance | Life Insurance | ||||||
| Credit Linked Insurance is a life insurance offered by Svatantra to women customers and her spouse to provide relief to her family in case of death of the insured person. | |||||||
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ROI is a function of risk profile of the customers and will be reviewed periodically. All the products above Rs.25000 have tenure ranging from 24 to 30 months. Apart from credit life insurance all other insurance products are optional (consent based) Penal charges – Nil |
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Disclosure of Interest Rate (Click)Customer Awareness on Overdue, SMA/NPA (Click)Client Selection & Approach For Gradation Of Risk: The decision to give a loan is assessed on a case-to-case basis, based on multiple parameters such as a borrower profile and repayment capacity, borrower’s other financial commitments, past repayment track record if any, tenure of the loan, occupation and stability of income, geography (location) of the borrower, end-use of the loan, etc. Such information is collected based on a borrower’s input and field inspection by the company officials. |
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SMALL BUSINESS LOANS DISBURSEMENT PROCESS
How We Do It
Enable WOMEN Entrepreneurship
We encourage our customers in particular women to expand their existing business or even start a new business. Our loans are designed to meet a variety of needs such as fulfilling their working capital requirements, making capital expenditure and even providing start-up capital for new businesses.
LEVERAGE INNOVATION SUPPORTED BY TECHNOLOGY
Though the company gives immense importance to human touch, we also believe as a fintech microfinance company our technology adaption should be at a rapid speed. Our technology enhanced customer experience, business profitability and product portfolio, in the manifold.
Company uses an end-to-end mobile app called Saathi for the entire operations. The app helps the team to carry-out process by using a smartphone or a tablet – right from identifying potential locations for expansion to processing customer information, and across the loan disbursement and collection cycle. Technology has eased the business process at a granular level, today team can access real-time data on remote customers, with an overall reduction in the turnaround time (TAT) and ultimately reduce our business risk and boosts yields.
It has also launched a customer facing app called SAKSHAM
for the rural women customers, with features custom-made
to suit their needs.
