Chaitanya India Fin Credit Microfinance

Chaitanya India Fin Credit Private Limited obtained its Non-Banking Financial Company licence from the Reserve Bank of India in October 2009. Prior to this, Chaitanya carried out its microfinance operations as an NGO. The credit solutions offered by the lender are aimed at promoting economic development and self-sufficiency.  

The lender’s mission is to provide financial services to low-income families in order to help them meet their financial requirements. As part of its credit solutions, the lender offers Small Business Loans and Livestock Loans, Joint Liability Group (JLG) loans, etc. Let us look at some of the key features and particulars of these loans.  

Products and Services Offered by Chaitanya India Fin Credit  

Listed below are a few products that are offered by Chaitanya India Fin Credit: 

1. JLG Loan 

Features:

• No security deposit is required to avail this loan.  
• Borrowers are required to repay the loan amount on a bi-weekly or monthly basis.  
• Insurance charges are applicable for this loan.  

Small Business Loan and Livestock Loans 

Features:

• The lender offers an individual loan product with flexible terms, which can be availed to fund the borrower’s business needs.  
• The lender offers doorstep service in rural areas of Karnataka.  
• Chaitanya India Fin Credit also offers a Livestock Loan for the purchase of machinery, purchase of cattle, and to construct sheds.  

Documentation 

To avail a loan from Chaitanya India Fin Credit, you will need to submit certain documents to the lender. The documentation required will vary based on the type of loan scheme that you apply for. Listed below are a few general documents that you can expect the lender to request for at the time of applying for a loan: 

• KYC documents: The lender requires applicants to submit at least 2 KYC documents. One of these documents should be the borrower’s voter ID or Aadhaar card. 
• Address proof: Applicants should submit their ration card as address proof. If the ration card is not available, the following documents can be submitted: 
1. Driving license 
2. Electricity bill 
3. Landline phone bill 
4. Municipal tax receipt 
5. Gas bill/receipt 
6. LIC certificate 

Fees and Charges 

In addition to the interest rate, lenders usually levy certain fees and charges when you take a loan. Certain general charges that may be levied by Chaitanya India Fin Credit on its loan products are as follows: 

• Loan processing fee: 1% of the borrowed loan amount 
• Insurance fee: As per the insurance firm’s terms and conditions 

Why You Should Opt for Chaitanya India Fin Credit 

A few reasons why you should opt for Chaitanya India Fin Credit if you are looking for a loan are as follows: 

• Attractive Interest Rates: The lender charges an affordable interest rate that is calculated on a reducing balance basis.  
• Low Processing Fee: Chaitanya India Fin Credit charges a low processing fee, which will keep the overall cost of your loan down.  
• Flexible Repayments: Borrowers can choose to repay their loans on a bi-weekly or monthly basis, as per what is best suited to them. They can also opt for a loan term of up to 48 months. 
• Timely Disbursal: The lender verifies your loan application and disburses the loan amount quickly. 

Regardless of whether you require funds to meet your business requirements, purchase cattle, or purchase machinery, Chaitanya India Fin Credit offers customisable loan solutions that can help you avail funds for your credit requirements. Make sure to check the features and benefits of the loans offered by the lender and apply for a loan that you require.  

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