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Micro Finance Loans

Interest rate schedule for Micro Finance Loans:

Product TypeMin Interest RateMax Interest RateAvg. Rate of interest in Q1 FY 23-24Processing Fee (% of loan)
SAMRIDDHI (Income Generation Loan)24.75%24.75%24.75%1.5% + GST
SAMVARDHANA (Top-up Loan)24.75%24.75%24.75%1.5% + GST
SAJAL (Water and Sanitation Loan)24.75%24.75%24.75%1.5% + GST
SUVIDHA (Consumer Durable Loan)24.75%24.75%24.75%1.5% + GST

*Interest rates are calculated on a reducing balance basis per annum.

       SAMRIDDHI (Income Generation Loan)

Lending ModelJoint Liability Group
Loan AmountRs. 25,000 – Rs. 70,000
Tenure12 – 36 Months
Repayment FrequencyMonthly/Fortnightly
Rate of Interest24.24% (on Reducing balance)
Processing Fee1.5% + GST

       SAMVARDHANA (Top-up Loan)

Lending ModelJoint Liability Group
Loan AmountRs. 15,000 – Rs. 35,000
Tenure6 – 24 Months
Repayment FrequencyMonthly/Fortnightly
Rate of Interest24.24% (on Reducing balance)
Processing Fee1.5% + GST

       SAJAL (Water and Sanitation Loan)

Lending ModelJoint Liability Group
Loan AmountRs. 10,000 – Rs. 35,000
Tenure12 – 24 Months
Repayment FrequencyMonthly/Fortnightly
Rate of Interest24.24%
Processing Fee1.5% + GST

       SUVIDHA (Consumer Durable Loan)

Lending ModelJoint Liability Group
Loan AmountRs. 1,000 – Rs. 25,000
Tenure9 – 18 Months
Repayment FrequencyMonthly/Fortnightly
Rate of Interest24.24%
Processing Fee1.5% +GST

       TWO-WHEELER LOANS

Lending ModelHypothecated – Individual Loan
Loan AmountRs. 50,000 – Rs. 1,50,000
Tenure24 – 36 Months
Repayment FrequencyMonthly/Fortnightly
Rate of Interest24.24%
Processing Fee2% +GST
Non Micro Finance Loans*

        PRAGATI (Mortgage Loan)

Lending ModelIndividual
Loan AmountRs 3 Lakh – Rs 25 Lakh
Tenure24 – 120 Months
Repayment FrequencyMonthly
Annual Interest Rate19-21%
Processing Fee2% + Applicable GST

        SAMPARK (Mortgage Loan)

Lending ModelIndividual
Loan AmountRs 3 Lakh- Rs 15 Lakh
Tenure24 – 120 Months
Repayment FrequencyMonthly
Annual Interest Rate21-23%
Processing Fee2% + Applicable GST

        SAMPARK ADVANTAGE (Mortgage Loan)

Lending ModelIndividual
Loan AmountRs 60,000 – Rs 5 Lakh
Tenure12 – 60 Months
Repayment FrequencyMonthly
Annual Interest Rate25%
Processing Fee2% + Applicable GST

        SWABHIMAN (Micro Enterprise Loan)

Lending ModelIndividual
Loan AmountRs 60,000 – Rs 5 Lakh
Tenure12 – 48 Months
Repayment FrequencyMonthly
Annual Interest Rate26-28%
Processing Fee2% + Applicable GST

       SURABHI (Dairy Cattle Loan)

Lending ModelIndividual
Loan AmountRs. 60,000 – Rs. 90,000
Tenure24 Months
Repayment FrequencyMonthly
Annual Interest Rate19-24% (on Reducing balance)
Processing Fee1.5% + GST

        PRAGATI (Mortgage Loan)

Lending ModelIndividual
Loan AmountRs 3 Lakhs – Rs 25 Lakhs
Tenure24 – 120 Months
Repayment FrequencyMonthly
Rate of Interest19% – 21%
Processing Fee2% + GST

        SAMPARK (Mortgage Loan)

Lending ModelIndividual
Loan AmountRs 3 Lakhs- Rs 15 Lakhs
Tenure24 – 120 Months
Repayment FrequencyMonthly
Rate of Interest21% – 23%
Processing Fee2% + GST

        SAMPARK ADVANTAGE (Mortgage Loan)

Lending ModelIndividual
Loan AmountRs 60,000 – Rs 5 Lakhs
Tenure12 – 60 Months
Repayment FrequencyMonthly
Rate of Interest21% – 25%
Processing Fee2% + GST

        SWABHIMAN (Micro Enterprise Loan)

Lending ModelIndividual
Loan AmountRs 60,000 – Rs 5 Lakhs
Tenure12 – 48 Months
Repayment FrequencyMonthly
Rate of Interest26% – 28%
Processing Fee2% + GST

       SURABHI 1 (Dairy Cattle Loan)

Lending ModelIndividual
Loan AmountRs. 60,000 – Rs. 90,000
Tenure24 Months
Repayment FrequencyMonthly
Rate of Interest24%
Processing Fee1.5% + GST

       SURABHI 2* (Dairy Cattle Loan)

Lending ModelIndividual
Loan AmountRs. 60,000 – Rs. 90,000
Tenure24 Months
Repayment FrequencyMonthly
Rate of Interest20.4%
Processing Fee1.5% + GST
*lending under BC model

       Samasta NextGen

Welcome to Samasta NextGen : Empowering Your Business Dreams


Discover the seamless world of financial services at IIFL Samasta Finance Limited, where innovation meets convenience on the Samasta NextGen platform. Our cutting-edge approach to financial services ensures a user-friendly and personalized experience for aspiring entrepreneurs seeking financial support for their business ventures.


Assisted Application Process: Your Journey Begins Here with Samasta FinTech


At Samasta NextGen, we prioritize a customer-centric approach. Our dedicated representatives, strategically located in your vicinity, provide personalized assistance throughout your loan application journey. Leveraging technology through platforms like WhatsApp and our exclusive mobile application, we aim to simplify and enhance the financial services experience.


How to Apply for a Loan in Samasta NextGen: A Hassle-Free Guide


1. Connect with our Representatives:


Initiate your loan application journey by connecting with our nearby representatives. They are ready to guide you through the process and answer any queries you may have.


2. Co-Applicant Collaboration:


Bring your co-applicant along to our representative's location. Ensure that both you and your co-applicant have the necessary KYC documents for a smooth application process.


3. Personalized Assistance:


Our representatives will assist you right from the initial questionnaire, ensuring that your loan application journey is not just easy but also enjoyable. With the help of our WhatsApp bot and the dedicated mobile app, they guide you through each step seamlessly.


4. Swift Application Process:


The streamlined application process takes only 20 minutes to complete. Your credit eligibility is promptly assessed, and the approved loan amount is communicated to you via the same WhatsApp chat in a matter of moments.


5. Approval and Fund Transfer:


Upon approval, you have the option to request the transfer of the approved amount directly to your bank account. At IIFL Samasta Finance limited, our commitment to efficiency ensures that this entire process, from verification to fund transfer, is completed within half a day.


6. Loan Agreement and Signatures:


Before the disbursement of funds, you will be guided to consent to loan agreements, acknowledge terms and conditions, and complete additional mandatory signatures using our user-friendly application.


Embark on Your Business Journey with Confidence


At Samasta NextGen, fintech services, we are dedicated to transforming your business aspirations into reality. Our commitment to technology-driven, assisted financial services ensures that your entrepreneurial dreams are supported every step of the way. Experience the future of financial services with Samasta NextGen – where your success is our priority. Apply today and witness the power of innovation in financial empowerment.


*Interest rate for retail loans varies bases on ticket size. As ticket size increases, interest rate decreases.

DISCLAIMER

Interest rates are calculated on a reducing balance basis per annum access this document for more information: Interest rate disclosure Jan’24

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