Our Offerings
UFin Financial Services Limited (UFS) offers need based financial assistance to its customers. We are offering collateral free loans since our target audiences are low-income profile people. We are deploying both Self Help Group (SHG) and Joint Liability Group (JLG) lending for disbursing the micro credit. In these lending models credit has been issued based on the group liability model where every group member mutually gives guaranty on each other. We are considering SHG lending as a hassle free operating model where we have almost 100% repayment rate. As per RBI guidelines we are providing Income Generation Loans (IGL) that are classified, based on the loan cycle are given below.| Loan Type | Loan Size | Repayment Period | Interest Rate | Processing Fee | Repayment Frequency |
|---|---|---|---|---|---|
| JLG | Rs.25000 | 12 months | As Per RBI Guideline | 1% | Monthly |
| JLG | Rs.25000 | 18 months | As Per RBI Guideline | 1% | Monthly |
| JLG 1 | Rs.25000 | 24 months | As Per RBI Guideline | 1% | Monthly |
| JLG 2 | Rs.30000 | 18 months | As Per RBI Guideline | 1% | Monthly |
| JLG 3 | Rs.30000 | 24 months | As Per RBI Guideline | 1% | Monthly |
| JLG 4 | Rs.35000 | 24 months | As Per RBI Guideline | 1% | Monthly |
| JLG 5 | Rs.40000 | 12 months | As Per RBI Guideline | 1% | Monthly |
| JLG 6 | Rs.40000 | 24 months | As Per RBI Guideline | 1% | Monthly |
Apart from this, we are covering group members under life insurance till their loan tenure with MSM. Also we are charging processing fee of 1% of the loan amount for loan processing and documentation. Loan is repayable by weekly, fortnightly or monthly installments at the choice of the borrower. We don’t collect any security deposit during the loan disbursement and we don’t charge any penalty in case of any default.
