Ujjivan Small Finance Bank Loan Statement Download LINK
Lorette Hanscom
The interest rate of Ujjivan Small Finance Bank Marriage Loan starts from 15.6% and goes upto 20%. Two individuals may get different interest rates from the bank depending on their credit score, age, loan amount, employer, repayment history, etc.
Ans. Yes, credit shield insurance facility is offered by the bank that covers the loan outstanding in case of unfortunate death of an individual. The premium offered by the bank depends on the age, tenure, loan amount of an individual.
But that does not mean it is too conservative. The bank has shifted focus over the years from giving loans mostly to groups, to lending to individuals. In 2019, it went a step further than that by offering its banking products to families of its existing microfinance customers. It has also emphasized digital transformation to its microfinance clients.
As opposed to a universal banking license, a small finance bank is in the business of primarily disbursing small or mirco loans. Ujjivan Small Finance Bank is required to go public as part of the conditions of receiving the banking license. Its holding company Ujjivan Financial Services Limited is already listed on the Indian exchanges.