SKS Microfinance reduces interest rates by 1.25% to 20.75%

With effect from 01 October 2015

SKS Microfinance has decided to reduce the interest rate charged to its borrowers from 22% to 20.75% on income generating loans to be extended w.e.f. 01 October 2015.

With the third interest rate cut and an overall reduction of 3.8% since October 2014, SKS Microfinance now charges what is considered the lowest rate among global Micro Finance Institutions on its core Income Generating Loans (IGL) which are unsecured micro loans. It had been charging the lowest interest among Indian MFIs since July 2015 with a reduction of 1.55% in that month, in addition to the 1% reduction in October 2014.

 

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