Micro Financing Business vs Ceiling on Interest Rates

Micro Financing Business vs Ceiling on Interest Rates

Information 12.10.2017   0 Comments   528  Add to Reading List

Micro Financing Business vs Ceiling on Interest Rates

1 NBFC-MFI (1) The average base rate of five largest commercial banks multiplied by 2.75 per annum
(2) cost of funds plus margin cap of 10% for MFIs having loan portfolio above ` 100 crore
and 12% for those with loan portfolio less than ` 100 crore

The lower of (1) and (2)
2 Nidhi Company Maximum Rate of Interest on Loan = 7.5% + Maximum rate offered on deposits.

3 Multistate cooperative Society Decided and Approved by the Board of Directors

 

4 NBFC-ND The rate of interest to be charged by the company is governed by the terms and
conditions of the loan agreement entered into between the borrower and the NBFCs

5 Micro Finance Company-Sec-8 (1) The average base rate of five largest commercial banks multiplied by
2.75 per annum
(2)cost of funds plus margin cap of 10% for MFIs having loan portfolio above `
100 crore and 12% for those


The lower of (1) and (2)


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