Belstar Investment and Finance Pvt Ltd aims to bring an uplift in the standard of living among the poorer and weaker sections of society. This microfinance is oriented towards bringing in betterment to the society and provides holistic financial products through a customer centric delivery channel. The Belstar group was acquired by Hand-in-Hand group in 2008 and now has a presence in over 4 states and a union territory. It spans across 10 districts in these states and has plans of expanding to northern states of India.
The various loan Products offered by Belstar Investment and Finance Pvt Ltd are as follows:
This loan has 4 cycles. Cycle 1 offers Rs 15,000 per member. It has a 1 month moratorium period with a repayment tenure of 12 months. The rate of interest charged is 20.12% which is a reducing interest. Cycle 2 offers a loan amount of Rs 30,000 per member and has a repayment term of 24 months. The moratorium period of this cycle is 1 month and the interest charged is a reducing interest of 20.12%. The third cycle offers a loan of Rs 40,000 per member with repayment term of 24 months. The interest charged is a 20.12% with a moratorium period of 1 month. The fourth cycle also has the same interest and moratorium period as the other cycles. The repayment term is 24 months as well but the loan amount available to the member is Rs 50,000.
| Parameter | Cycle 1 | Cycle 2 | Cycle 3 | Cycle 4 |
| Loan Amount | 75000 | 100000 | 150000 | 200000 |
| Repayment Terms | 30 | 30 | 30 | 30 |
| Interest Rate | 22% | 22% | 22% | 22% |
| Moratorium Period | 0 | 0 | 0 | 0 |
| Processing Fee | 1.5% on loan amount | 1.5% on loan amount | 1.5% on loan amount | 1.5% on loan amount |
These loans have an available loan amount of Rs 20,000 with no moratorium period. The interest charged on these loans is 24% p.a. and is a reducing interest. The repayment term of this loan is 12 months.
House improvement loans are also offered by Belstar Investment and Finance. These loans have an available loan amount of Rs 25,000 per member with a repayment term of 25 months. This loan also has no moratorium period and charges a reducing interest of 25% p.a.
The Microenterprise loans offered by Belstar Investment and Finance Pvt Ltd have a processing fee equivalent to 1% of the loan amount vailed while the education and house improvement loans have a processing fee equivalent to 2% of the loan amount availed. All the above loans however have a service tax charged on the upfront fee which is at the rate of 14%.
A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.
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