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    HomeNewsBusinessPress ReleaseSKS Microfin to reduce interest rate to 24.55%

    SKS Microfin to reduce interest rate to 24.55%

    SKS Microfinance Limited has announced about a planned move to reduce interest rates to 24.55% across India.

    January 11, 2011 / 15:32 IST
       
       
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      SKS Microfinance has announced a planned move to reduce interest rates to 24.55% across India.

      The applicable interest rate for all future disbursements across the country is mentioned below:

      FlatIRR (effective rate)
      Annual rate of interest12.50%24.55%
      Upfront interest NilNil
      Total Interest12.50%24.55%
      Credit shield charges*NilNil
      Cost to the Borrower12.50%24.55%


      The Company will not collect charges towards Credit shield

      The company will not collect towards credit shield charge, loan processing fee, and card fee w.e.f. 11th January 2011. With this the all effective interest rate across country will be 24.55% for all future disbursements.

      first published: Jan 11, 2011 03:07 pm

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