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Fullerton India launches Samriddhi Loan for women borrowers

Fullerton India Credit Company Limited (Fullerton India), a non-banking financial company (NBFC), on International Womens Day, Thursday, announced the launch of Samriddhi Loan — a personal loan specially designed for its select Solidarity Group Loan borrowers with a good repayment track record of 24 months.

Fullerton Indias rural business under the brand name — Gramshakti, offers Solidarity Group Loans exclusively to women entrepreneurs in rural India to start their business ventures and support their families.

Samriddhi Loan is a pre-approved personal loan with the ticket size ranging from Rs 45,000 to Rs 85,000, depending on the existing Solidarity Group Loan quantum borrowed. All applicants with an annual income of Rs 1.6 lakh and above, and with a good track record, are eligible for Samriddhi loans, a company statement said.

Vishal Wadhwa, Head of Rural Business, Fullerton India, said, “The launch of Samriddhi Loan is another step towards assisting enterprising women borrowers in rural areas establish an independent identity, expand their sources of livelihood, and fulfil their aspirations. Through Samriddhi Loan, we are re-establishing our faith on our existing Solidarity Group Loan customers, who have been regular in their repayments. Since these borrowers are preregistered, the sanction process is fast and hassle-free”

Borrowers can avail Samriddhi Loan from any of the Gramshakti branches located across Tamil Nadu, Chhattisgarh, Gujarat, Karnataka, Madhya Pradesh, Maharashtra and Rajasthan.

Source: DH

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