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    Future Financial Services

    Overview about Future Financial Services Ltd Micro Finance

    Registered with the Reserve Bank of India as an NBFC-MFI, Future Financial Services Pvt Ltd. (FFSPL) provides affordable financial products and services. The institution specializes in microfinance loans, microenterprise loans, credit-linked insurance, and retirement solutions through NPS-lite. Apart from this, the organization also plays a key role in community welfare through dedicated activities focusing on economic, environmental and social well-being of communities, where it operates.

    Purpose – What can be Future Financial Services Ltd Micro Finance Loans be used for?

    The microfinance offered by Future Financial Services Ltd Micro Finance. Is aimed to promote economic development and self-sufficiency among people. The loans can be used as a finance for Joint Liability Groups, for small scale businesses

    Eligibility Criteria for Future Financial Services Ltd Micro Finance Loans

    In order to be eligible for the microfinance offered by Future Financial Services Ltd Micro Finance, the borrower should fulfil the following criteria:

    • Age limit for customer: Minimum 20 years
    • Customer should not have more than one MFI (microfinance institution) loan and the amount should not exceed Rs. 50,000
    • Household income should not exceed Rs. 60,000 (rural areas) and Rs. 120,000 (non-rural areas)
    • Customer’s total loan amount not to exceed Rs 35,000 in first cycle and Rs 50,000 in subsequent cycles.

    Features ofFuture Financial Services Ltd Micro Finance Loans

    Mentioned below are the features and benefits of the microfinance loan offered by Future Financial Services Ltd.

    Loan Terms

    Loan Cycle

    Cycle 1

    Cycle 2

    Cycle 3

    Max. loan amount

    Rs. 15000-12000

    Rs 15000-28000

    Rs 15000-35000

    Repayment period

    18 months

    24 months

    24 months

    Service Charge

    1%

    1%

    1%

    • FFSPL does not charge flat rates of interest. The reducing interest rate is applicable at 27.4% per annum
    • Borrowers can avail insurance for self and a co-borrowing family member, as life cover along with the loan. Insurance premium rates are as per the insurance partner with FFSPL.
    • There are no other fees apart from processing fee, insurance charges, and rate of interest.
    • Loan repayment can be done on a weekly, fortnightly, or monthly basis, as per the customer’s convenience.
    • In order to match the borrower’s repayment option, the field team and credit team also offer equivalent cash flows.
    • Final repayment option is decided at the Centre or Group level under FFSPL’s group lending policy.

    Documents Required for Future Financial Services Ltd Micro Finance

    Future Financial Services Ltd. collects KYC (Know Your Customer) documents from borrowers such as UID (Aadhaar card) or Voter ID for id proof and ration card as address proof. In case ration card is unavailable then one of the following can be used for proof of address:

    1. Driving license
    2. Electricity bill
    3. Landline phone bill
    4. Municipal tax receipt
    5. Gas Bill/Receipt
    6. LIC Certificate
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