Born in North East Created for India
PRODUCTS AND SERVICES:
The Company offers following set of micro finance services exclusively to woman for meeting their working capital needs and diversify income sources by taking up livelihood activities and also for up scaling existing business through income generating asset creation.
Our target group is women who provide cross guarantee to each other under concept of Joint Liability Group (JLG) thus becoming liable for the timely credit repayment of each other.
The JLGs (Joint Liability Groups) are formed by 5 members of homogeneous female persons from the same locality. The group members should be in the age group of 18 to 60 years. These groups are normally Credit Groups with individual Credit Service Concept. They provide cross guarantee to each other and thus become liable for the timely credit repayment of each other.
Few numbers of such Group forms one center. Each such Centre would meet once in a week and/or fortnight as a designated location, where discussion, training and business transactions are done.
Such Groups are provided with basic training called Compulsory Group Training (CGT) for 2 days and after this, Group Recognition Test (GRT) is carried out to identify the potential ready groups.
Loan size starts from Rs. 5000 to Rs. 80,000 and loan disbursement is done through bank by credit to their respective bank accounts. Loan repayment is collected during center meeting and a collective receipt is issued against repayment made besides updating their loan credit.
.
OUR PRODUCTS
The Company has been providing customized Micro Finance Services with minimum documentation with quick disbursement so as to fulfill the needs of the borrowers.
INSURANCE COVERAGE :
The Company has a tie-up arrangement with ICICI PRU LIFE Insurance Co. and also with DHFL Insurance Co. – a premier Insurance Company(s) to provide the benefits to its clients. All out clients along with their co-applicant are covered under normal and accidental death.
IGL 1 Year
Income Generation Loan
IGL 2 Year
BRL
Business Revival Loan
Income Generation Loan
EML
Emergency Loan
Product Name : Income Generating Loan
Loan Amount: 5000-30000
Repayment Frequency: Weekly/Fortnightly/Monthly/As per borrowers choice.
Loan Tenure: 1 Year
Processing Fee: 1.5 % of loan amount excluding GST
Annual Interest Rate: Minimum 19% and Maximum 23%
Insurance Premium: As prescribed by the Insurance Company
Product Name : Income Generating Loan
Loan Amount: Above 30000
Repayment Frequency: Weekly/Fortnightly/Monthly/As per borrowers choice.
Loan Tenure: 2 Years
Processing Fee: 1.5 % of loan amount excluding GST
Annual Interest Rate: Minimum 19% and Maximum 23%
Insurance Premium: As prescribed by the Insurance Company
Product Name : Business Revival Loan
Loan Amount: 10,000 to 40,000
Repayment Frequency: Weekly/Fortnightly/Monthly/As per borrowers choice.
Loan Tenure: 1year and 2 Years
Processing Fee: 1.5 % of loan amount excluding GST
Annual Interest Rate: Minimum 19% and Maximum 23%
Insurance Premium: As prescribed by the Insurance Company
Product Name : Emergency Loan
Loan Amount: 5000-10000
Repayment Frequency: Weekly/Fortnightly/Monthly/As per borrowers choice.
Loan Tenure: 6 Months
Processing Fee: 1.5 % of loan amount excluding GST
Annual Interest Rate: Minimum 19% and Maximum 23%
Insurance Premium: As prescribed by the Insurance Company
REGULATORY COMPLIANCE:
UNACCO Financial Services (P) Ltd. (UFSPL) has been adhering to all norms and regulations as prescribed and laid down by Reserve Bank of India. The interest rate charged on the loan is 21.70 % (reducing) which is in compliance to interest margin cap as prescribed and laid down by RBI. Being a member of Sa-Dhan and MFIN, UFSPL has been following the code of conduct prescribed by Sa-Dhan and MFIN and also has been adhering to the Fair Practice Code of RBI. The Company has put in place in every branch, a customer complain Box and each complaint so received are properly numbered and redressed. In the event of any complaint not been redressed at the branch level, the customer can post Complaint number along with details of the complaint lodged to the Grievance Redressal Officer so designated at the Head Office to resolve and redress all such complains.
FINANCIAL GRADING & CODE OF CONDUCT:
The Credit rating of our company is being done by SMERA which is exclusively set up for micro, small & medium enterprise (MSME). The Financial rating awarded to the Company is M4C2. The code of conduct Assessment was done by SMERA in order to review the compliance status of the company in regard to the Fair Practice Code adhered by the Company.
MEMBERSHIP OF CREDIT INFORMATION COMPANY (CIC):
UNACCO Financial Services Pvt. Ltd., as per mandate from Reserve Bank of India (RBI) is a member of all the four Credit Information Companies, namely, Crif-Highmark, Equifax, Experian and CIBIL. Client information is submitted to all the four CICs in periodic basis.
The company is availing the services from Crif-Highmark for generation of Credit Information report of each individual who applies for loans from the Company. These reports provide end user with precise, easy-to-read, and extensive information about the new applicant based on which loans are sanctioned by the Loan Sanction Committee.