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The philosophy of NABFINS is to provide access to institutional credit to credit worthy borrowers at an affordable cost. Towards this end, the company has adopted a unique business model where a net work of community based organisations are partnered with to aggregate credit demand and extend credit to them in groups based on the social collateral of joint liability.

However, it was realized that the availability of such trust worthy partners with appropriate institutional bandwidth is limited and that should not be a limiting factor for achieving the stated mission of the Company.

Direct Lending vertical attempts to bridge these lacunae. The Company puts in place its own resources to create a platform to provide standardised loan products at affordable cost in identified geography at lower rate as compared to peers in the industry.

Interest rates on loans

Borrower Category Loan Amount Interest rate (%) Processing fees GST Penal Charges Credit Insurance
Direct Lending-Individual-JLG Upto Rs.0.60 lakh 16.50% 1% of sanctioned amount 18.00% of processing fee Nil Rs.2.98 for Rs.1000
Direct Lending-Trader Individual Upto Rs. 1 lakh 16.50% 1% of sanctioned amount 18.00% of processing fee Nil Rs.2.98 for Rs.1000
Watershed – Individual / JLG Upto Rs. 2 lakh 15.50% 1% of sanctioned amount 18.00% of processing fee Nil Rs.2.98 for Rs.1000

 

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