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Addressing the varied financial needs of people in the low income segment of society and providing products and services suitable to their needs and capacity

Customised Products

  • In the segment of society that Svasti intends to serve, there exists a diverse range of people with differing needs, profiles and ability. Svasti is of the belief that one loan product cannot satisfy the requirements of these customers.
  • Consequently, Svasti has among its objectives the development of customized products and processes that suit different customer profiles. Additionally, Svasti understands the need to learn from the implementation of each of its products and accept changes.

Joint Liability Loan Product (“JLG Loans”)

  • Svasti started its product delivery with a Joint Liability Group (JLG) loan aimed at productive women much like many other MFIs in India.
  • The terms and conditions of the JLG loan products are given in JLG Product Terms

Business Loans Against Property (“LAP Loans”)

  • Svasti provides business loans against property to its customers.
  • The customers to whom we offer LAP Loans, in most cases, are likely to be our JLG Loan customers who have demonstrated high standards of repayment behaviour and about whom we have accumulated significant credit data based on which we evaluate their needs and capacity for higher loan amounts.
  • Apart from the above we do provide LAP Loans to “new to Svasti” customers after doing a rigorous cash flow analysis of their business and household incomes/ expenses/ assets/ liabilities as well as their property offered as security for the loans.
  • Terms and conditions of the LAP Loans vary based on credit rating of the customers.

Bill Payment Services

  • Svasti offers bill payment services to its loan customers whereby we pay their electricity bills and also allow them to top up their pre-paid mobile phones and DTH subscriptions.
  • These services are offered as a pre-approved short term credit facility whereby we make the payments based on taking consent of the customers and we collect the amounts later from them along with loan instalment collections.
  • This approach allows our loan customers to pay these bills by merely making a phone call to us.
  • Our staff use a mobile based application for registration of customers for this service and for payment of their bills.