Micro Finance

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Vishwast Pay

Micro Loan Types

Income Generation Program Loan (IGP)

The Income Generating Loan is used for a variety of activities that generate income for their families.

Mid Term Loan (MTL)

The Mid Term Loan is available to clients eligible for a MTL Loan subjective.

Unsecured Small business loan

The Company facilitate unsecured small business loan facility covering some of the household products which are of value to the customers to improve their quality of living and is based on the choice of the customers.

Income Generation Program Loan (IGP)

The Income Generating Loan is used for a variety of activities that generate income for their families. Clients submit a loan application and based on approval receive the loan with in a one week.

Loan Size

₹ 1,000 to ₹ 50,000

Tenure

8 - 12 Months

Lower Interest Rate

Salient Features

• Weekly instalments. And guarantee will be taken.
• Ticket Size: ₹ 1000 – ₹ 50000
• Loan Tenure: 8-18 months.
• Interest Rate: Lower
• Nature of Interest Rate: Diminishing
• SMS Alerts: Available

Note:

Loan features may vary depending on geography to manage risk.

Security

• Type: Unsecured loan
• Guarantee: Mandatory

Disbursement and Repayment

• Disbursement Mode: Through Bank account
• Disbursement Frequency: 1 Transaction
• Repayment Frequency: Weekly
• Mode of Repayment: Collection / Online Payment.
• Foreclosure option: Available – Client can pre close loans at any point of time within the tenure of loan without any penalty Charges
• Processing Fee: A Processing fee @ 2% (+GST)
• Prepayment- No charges.

Penal charges-@ 0.5% p.m. on Overdue amount.

No non-credit product shall be sold as a pre-condition for the loan product.