home
  contact us
Whoweare
   
our approach
   
products & services
   
 
meet our clients



Products
As Business Correspondent to RBL Bank, Swadhaar Information and Management Services Pvt Ltd (SIMS) currently distributes and services the following products for the Bank:

Group Loans
RBL's Center Based Loan is an Individual Loan with a joint liability (JL) among center members and is intended for low-income economically active women who are between 18 to 58 years of age, belonging to the same socio-economic background. A centre consists of three to five groups with five to ten members in each group. There can be 15-30 members in one centre.


Following products are offered to group loan clients


Ratna Pragati Loan (RBL Micro Loan)
RBL's Center Based Loan is an Individual Loan with a joint liability (JL) among center members and is intended for low-income economically active women who are between 18 to 58 years of age, belonging to the same socio-economic background. A centre consists of three to five groups with five to ten members in each group. There can be 15-30 members in one centre.
Loan amounts range from INR 18,000 to INR 50,000 for a period of 18 and 24 months respectively.

Interest Rate
26% p.a. on a declining principal balance (Monthly interest rate – flat -1.22%, APR – 27.97%)

Loan Processing Fees 1% of loan amount (exclusive of GoI service tax @ 14.50%). Processing Fee is only applicable for loan amounts greater than Rs. 25,000/-

Ratna Bachat (Basic Saving Bank Deposit Account)
All micro loan clients are given the benefit of no-frill savings account with a Rupay debit card. This enables clients to grow savings safely in the bank. Clients are paid an annual interest of 5.5% on their savings account balance. There is no annual charge for this facility to the client.

Credit-linked Life Insurance
All micro loan clients are given the benefit of credit-linked life insurance. The sum assured for a client is equal to the loan amount. In the event that a client suffers a natural or accidental death over the course of his/her loan term, his/her nominee is released from the burden of repayment of loans and is also entitled to receive the principal amount already repaid by the client. As an added benefit, spouse insurance (with separate insurance fee) is also being offered to all clients for the same amount from the client.

Loans for Micro and Small Enterprises
RBL Bank and Swadhaar have partnered to provide convenient, affordable access to credit to micro and small enterprises which are by and large excluded from the formal financial sector and either directly or indirectly face barriers to access because of requirements of documentation and collateral that they are unable to meet.

Loans are offered from Rs 75,000 to Rs 25 lakhs, for a variety of purposes and accordingly tenors. These can be secured or unsecured, depending on the circumstances.

The product features are flexible, designed for the specific needs of small businesses. The flexibility of features permits the loan to be tailored to suit different requirements of a range of businesses. Although loans are offered to both women and men entrepreneur’s, special benefits are given for women led/ women impacted businesses to encourage larger participation of women in the entrepreneurial activities

 
Copyright February 2011 Swadhaar Finserve Pvt. Ltd.                CIN: U65990MH2007PTC175181