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  • ASA International India Microfinance Limited (ASAI-India)

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  • The ASA International India Microfinance Limited is a regulated micro finance institution that is active in the regions of Assam, West Bengal, Tripura, Meghalaya, Uttar Pradesh, and Bihar. The institution was founded in July 2008 and is headquartered in Kolkata. The institute aims to uplift the backward classes with sound financial products that help bring an improvement in their standard of living. ASAI-India is committed to enhance and strengthen the status of the economically challenged sections of the society by facilitating, dispensing, and extending microfinance products.

    The Netherland-based ASA International supports ASAI India which is partnered with Oikocredit since 2009.

    Products and Services Offered by ASAI-India

    ASAI-India offers loan under two categories – Primary Loan and Special Loan, the features of which have been listed below:

    1. Primary Loan

    Loan Amount
    Interest Rate
    Processing Fee
    Tenure
    Rs.1,000 to Rs.30,000
    23% Reducing Balance
    1% on loan amount plus applicable GST
    11 months to 13 months

    Features:

    • No penalty is charged for prepayment or late payment.
    • Borrowers can choose the instalment types among the options – weekly, fortnightly, and monthly.
    • Borrowers need not pay any security deposit or admission fee.
    • Insurance fees of Rs.4.50 for 1 year plus applicable GST must be paid by both the borrower and the spouse for every Rs.1,000 of loan availed.

    2. Special Loan

    Loan Amount
    Interest Rate
    Processing Fee
    Tenure
    Rs.31,000 to Rs.60,000
    23% Reducing Balance
    1% on loan amount plus GST
    26 months to 29 months

    Features:

    • Both the borrower and the spouse are required to pay insurance fees of Rs.9 for 2 years plus applicable GST for every Rs.1,000 of loan availed.
    • There is no penalty charged for late payments and prepayments.
    • Three types of instalment options are available for borrowers to choose from – weekly, fortnightly, and monthly.
    • No security or admission will be charged to borrowers.

    Purpose of ASA International India Microfinance

    The purpose of this loan is 2 fold. The primary purpose of the loan is for income generation and the secondary purpose of the loan is for agriculture.

    Eligibility Criteria for ASA International India Microfinance

    The borrowers of this loan can only be women. The household income of the borrower should be lesser than Rs 1, 20,000 and depending on the loan amount in some cases the household income needs to be lesser than Rs 60,000

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