Ujjivan Financial Services heralds start of festive season with 0.75 per cent interest rate cut from Oct 1
The new interest rates for all Microfinance Loans have been lowered by 0.75 per cent.
The rate for Individual Bazaar Loans, however, remains unchanged.
Speaking on the occasion, Samit Ghosh, MD, Ujjivan Financial Services said, “Ujjivan’s robust financial performance and lower borrowing costs has helped us to reduce the interest rates on our products. We are equally happy to pass on the reduction of interest rate benefits to our valued customers at the onset of the long festive season as a bonanza offer to them.”
Sudha Suresh, Chief Financial Officer said: “The marginal cost of funding for the company has reduced and we would wish to pass on this benefit to our customers.”
Ujjivan’s started with a predominant focus to cater to the unbanked urban financially weaker segment. However, over last ten years, Ujjivan has substantially expanded its footprints in the semi-urban and rural geography across 24 States & Union Territories.
Image: Ujjivan Financial Services Limited Official Website
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